Global Entrepreneurship Module: Task 3 - Critical Theories Review

This assignment presents a critical review of entrepreneurship theories within the context of a 'Global Entrepreneurship' module. The student reflects on their experience through Gibbs' reflective cycle, analyzing the challenges faced by global entrepreneurs and the gap between theory and practice. The assignment explores various theories, including economic, resource-based, and psychological theories, while also detailing the student's experience in a group project, including the use of Belbin's team roles to analyze team member contributions to a business plan. The student highlights the learning experiences gained from the tasks, emphasizing the importance of leadership attributes, team work, and the practical application of theoretical concepts in entrepreneurial ventures. The assignment concludes with a reflection on the identified gaps between theories and real-world practices.

0
Task 3: Critical review of theories
Name of the Student
Name of the University
Author Note

1
Table of Contents
Introduction......................................................................................................................................3
Experience on Task 1.......................................................................................................................3
Experience on Task 2.......................................................................................................................3
Learning Experience:.......................................................................................................................5
Reference List..................................................................................................................................6

2
Introduction
Going through the task 1 and 2 in this module under the topic of ‘Global
Entrepreneurship’ was very much interesting as it gives an insight into how leaders in the fast-
developing business world has been adapting to the changes and implementing innovative
strategies to outdo the other in this competitive market. Through this task I have experience a
great deal of how the entrepreneurs need to do with their startups and what are the challenges
that they face competiting with other leaders in this global competitive environment.
Experience on Task 1
In this sharing of my experience regarding task 1, I will use Gibb’s reflective cycle to
describe my experience (Potter, 2015).
Description
The theme which has been selected by me for this task is “Introduction to Global
Entrepreneurship vs. Practice gaps”. I have research on the given theme and developed the topic
on the study on the “Development of Global Entrepreneurship and its challenges”. Through this
task I have gained knowledge regarding the characteristics of global entrepreneurship and global
leaders (Golden et al, 2017).
Feelings
I felt very good while doing this task as it was providing an intensive knowledge
regarding the subject matter.
Evaluation

3
In this task I have identified the objectives which shall aim to identify challenges faced
by global entrepreneurs, the theory and practices that shall be undertaken by the entrepreneurs to
overcome those challenges and shall identify the gap between the theories and practice. In doing
this task I have learnt the various theories that are associated to the entrepreneurship and ate
being regularly used by the entrepreneurs in the global market to overcome the challenges
(Kuratko et al, 2015)
Analysis
The theories that I have learnt through this task are the economic theories, resource-based
theories, psychological theories, sociological theories, and the opportunity based theory. The
challenges faced by the global entrepreneurs are like the management of the cash flow of the
organization, hiring process, management of time and delegation, innovation of strategies and
growth of the organization.
Conclusion
I have learnt how to use the entrepreneurship theories that has been identified to solve the
challenges faced by global leaders. However, through this assignment there are certain gaps
between the theories and the actual practice which I have experienced and identified
(Chimucheka and Mandipaka 2015).
Action Plan
From this task I put up an action plan for myself that I shall use all the theories and
attributes while working in an entrepreneurial firm in future and shall help to overcome the
challenges faced by the entrepreneur.

4
Experience on Task 2
In this task 2 I have selected 3 more members to complete the whole task. I have
experienced a great bonding with all my team members while completing the task. In this task
we have participated equally and equally contributed for the completion of the task. Each one has
contributed greatly and has been successfully completed the task. In this task we have made a
business plan which includes a business idea and the requirements to setup the business. We
have set up the mission and vision of the statement which is to serve our customers with better
quality at a reasonable price. All our team members have conducted market research on the
business and have given various ideas so that the business can have a good setup and can go
higher in the future. We have also prepared good business model. Using the Belbin’s team
Model (Lynch et al. 2018), we can give a clear picture regarding the nature of the team
member’s contribution towards the task.
Characteristics Responsibility/Members Attributes
Resource Investigator I am the resource investigator for the task as I
am very popular to create innovative ideas and
also good in researching skill.
Team Worker Member 2 was the main tea worker he
cooperated and coordinated with everyone to
accumulate and assemble the idea at one place.
Coordinator Member 2 has the attribute of good leadership
and therefore, he has been given the
responsibility of coordinating with all the
members of the team to bring the idea into

5
existence.
Plant I am the plant here as I tend to be highly
creative and is good t solving problems by
implementing good ideas.
Monitor Evaluator Member 3 has the attribute of evaluating as
well as makes neutral judgments.
Specialist Member 4 is the specialist in our team who has
brought knowledge and ideas on the business
model within the team.
Shaper Member 3 has this attribute which helps the
team to keep moving with the work and helps
in keeping the focus on work.
Implementer Member 2 is the implementer of the task as he
has coordinated and assembled the task.
Completer Finisher Member 4 is the one who finishes the task by
scrutinizing the task and polishing it.
Learning Experience:
Therefore, from the task 1 and 2 I have learned a lot regarding the leadership attributes of
the global entrepreneurs. The tasks have helped to learn regarding the theories which are
involved in the entrepreneurship. Through this task I have learnt regarding the gaps between the
theories and actual practice of entrepreneurship. This task has not only given me academic
knowledge and information but also helped to use in practical approach as well as helped to work

6
in a team. Team working is very much essential in an entrepreneurship form of business and
hence this task has given me enormous knowledge regarding it.

7
References
Chimucheka, T. & Mandipaka, F., (2015). Challenges faced by small, medium and micro
enterprises in the Nkonkobe Municipality. The International Business & Economics
Research Journal (Online), 14(2), p.309.
Golden, S., Daron, J., Schumacher, J. & Thomas, E. (2017). Illuminating Entreprenuership.
Kuratko, D.F., Hornsby, J.S. & Hayton, J., (2015). Corporate entrepreneurship: the innovative
challenge for a new global economic reality. Small Business Economics, 45(2), p.245-
253.
Lynch, D.S., Lynch, M.J. & Clemens, C.M. (2018). Belbin Team Roles. The Handbook of
Communication Training: A Best Practices Framework for Assessing and Developing
Competence.
Potter, C. (2015). Leadership development: an applied comparison of Gibbs’ Reflective Cycle
and Scharmer’s Theory U. Industrial and Commercial Training, 47(6), p.336-342.