Strategic Entrepreneurship BX3173: In-depth Personal Journey Journal

This personal journal assignment explores the student's entrepreneurial journey, beginning with a self-assessment against five key dimensions: creativity, desire for autonomy, achievement drive, internal locus of control, and risk-taking ability. The journal identifies Elon Musk as an ideal entrepreneur, admiring his vision for sustainable development and his leadership at Tesla Motors and SpaceX. A detailed analysis of Tesla is presented using the Business Model Canvas (BMC), SWOT analysis, and Blue Ocean Strategy. The journal culminates in a reflective overview of learning outcomes and personal changes in perspective, highlighting the student's enhanced understanding of entrepreneurship and business development. The student reflects upon the impact of studying business lessons, developing marketing skills, and gaining insights from corporate internships. The document concludes with references and an appendix.

Running head: PERSONAL JOURNEY JOURNAL
PERSONAL JOURNEY JOURNAL
Name of the Student
Name of the University
Author Note

1PERSONAL JOURNEY JOURNAL
Table of Contents
First Personal journal entry set........................................................................................................2
As a Person......................................................................................................................................2
Five dimension analysis...............................................................................................................2
Personality...................................................................................................................................3
Personality type scored................................................................................................................3
Recognition of Behaviors............................................................................................................3
Skills and Experience..................................................................................................................4
Second Personal journal entry set: Ideal Entrepreneur- Elon Musk................................................4
Entrepreneur Profile.....................................................................................................................4
Personal Reflections on the entrepreneurship..............................................................................5
Third Personal journal entry set: Entrepreneurial Company: Tesla Motors....................................6
Business development.................................................................................................................6
Reasons for choosing the company.............................................................................................6
Fourth Personal journal entry set :Analysis of Tesla.......................................................................7
BMC............................................................................................................................................7
SWOT........................................................................................................................................10
Blue Ocean Strategy..................................................................................................................11
Fifth Personal journal entry set: Reflective Overview..................................................................12
Learning Outcomes....................................................................................................................12

2PERSONAL JOURNEY JOURNAL
View on changes........................................................................................................................12
References......................................................................................................................................14
Appendix........................................................................................................................................16

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First Personal journal entry set
As a Person
Five dimension analysis
I believe that I am a responsible, goal oriented, motivated and evolving person. The five
dimensions can more reasonable describe my essential qualities.
Creativity
I think that I am not much creative at this point in time in my life. I have ideas however,
that I have tried to give to people. Some of these ideas were not accepted by the people whom I
approached. Hence, I believe I need to be more creative.
Desire for Autonomy
I like to make my own choices and choose my influences very wisely. I want to become a
person capable of making my own choices. I am already a person that can stand by the decisions
that I have made and justify them in the end.
Achievement Drive
I want to get a good job at an important position in a company after finishing my
graduation. My next goal will be to achieve significant level of expertise at the job role I am
assigned. Moving forward, I want to obtain the role of a leader and achieve further success.
Internal Locus of Control

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Locus of control refers to the personal belief system that an individual has. I strongly
believe that entrepreneurs should have the skill to identify opportunities and threats that can
affect them and act according to the same.
Risk Taking ability
As a person I believe that there are risks involved in every walk of life. The life of
entrepreneurs are filled with various risk factors. Hence, I believe an individual should always be
ready to handle risks.
Personality
Personality type scored
According to the personality score my style can be best described as the S style. Hence, I
am stable, calm, loyal and warm. I am always motivated and ready to cooperate with the others.
Helping others is an essential quality of people of this score and I believe this will be as
necessary in everyday life as it is in organizational progress. This type of people also need
people that can interact with them in friendly manner and polite gestures (Houston et al., 2015).
Recognition of Behaviors
I can recognize most of the things mentioned in the scorecard in myself. The scorecard
has also been greatly helpful towards identifying my strengths and my growth factors. The DISC
test helped me to identify crucially my personality. This will help me to further move forward in
life. However, at the same time in order to grow further I need to assess my friends judiciously
and consider with whom I will interact with and create mutual relationships (Mitchell et al.,
2002).

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Skills and Experience
I have been able to gain a lot of knowledge about a large number of factors that affect
business after studying business lessons. I have also been able to develop significant marketing
skills due to my association with the course. I have taken part in internships that have provided
me with significant insight into the workings of the corporate world. I can give advice in regards
to how teams can be managed. I can help people identify their weaknesses and work on it to
improve themselves. I have mixed with people from different cultures. This will help me to
understand and respect cultures better. I believe that I am the Hipster or the idea creator
Second Personal journal entry set: Ideal Entrepreneur- Elon Musk
Entrepreneur Profile
The chosen entrepreneur is Elon Musk. He is a very inspirational leader as his vision
about the future is unique. He wants to employ more renewable sources of energy in the future
for ensuing sustainable development of the world. He is currently the CEO of Tesla Motors, the
chairman of space exploration and vehicle development enterprise SpaceX and one of te
founding leaders of Solarcity solar energy project (Elon Musk | Tesla. 2018). He is essentially a
transformational leader and on the personal front is a great thinker and idealist. Elon Musk is an
effective coordinator and helps others to achieve their goals. Elon Musk was born in South
Africa to British and Canadian parents and moved to the United States when he was 12 years old.
He has a dual degree in Physics and Economics. He is a quick innovator and was hugely
successful in one of his first ventures called the Paypal, an online money transfer portal. This
made way for him to invest in further ventures but he took a great risk by investing the entire
revenue he earned from Paypal towards a risky SpaceX venture, Tesla motors and Solarcity. The
vision of Elon Musk is to provide cleaner and sustainable solutions to the future problems that

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the world may face. He is also focused towards making space exploration expand and vehicles
for better space travel in the future. He is focused towards making cars that run on renewable
energy so that in the future this can tackle the lesser availability of resources (Chen & Perez,
2018). Musk provides innovation, environment and gathering knowledge about the universe
above profitability motives.
Personal Reflections on the entrepreneurship
Elon Musk according to me is the representation of the future corporate entrepreneur. His
visions are for a sustainable and better future. He is definitely truly inspirational at this time in
the world as his visions are far more effective than most other leaders that we have today
(Kirzner, 2015). I want to progress in life keeping him as a role model. Elon musk with his
visions to change the world was a very obvious choice for the study. Moreover, it’s not just his
visions that matter as he has used them incredibly in order to achieve what many would have
otherwise thought to be impossible. For example- his decision to create SpaceX and privately
fund space exploration research and development was only a dream even for many of the much
bigger entrepreneurs. However, he was so much successful through his venture Space X that he
was given a contract by NASA to develop space vehicle for them. His venture Solarcity was
responsible for bringing new life to the prospects of renewable energy. Musk is not only a man
with great vision but equally capable of gathering all the resources that are required to achieve
those visions. He is currently one of the most talked about and popular entrepreneurs in the
world. I believe future entrepreneurs should be more like Elon Musk. They should have big ideas
and innovative approaches towards solving the problems faced by today’s society, environment
and corporate world (Kirzner, 2015). This was the main reason for choosing Elon Musk as the
ideal entrepreneur. Davidson provides a desire-belief model of motivation that focuses on desire

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being of great significance towards progress. This model can be applicable to Elon Musk as his
desires have been given shape as he was motivated enough to chase his dream projects (Nader,
Bechara & van der Kooy, 1997).
Third Personal journal entry set: Entrepreneurial Company: Tesla Motors
Business development
Tesla motors is a company that was largely developed by Elon Musk. Tesla has garnered
significant expertise in the manufacture of electric cars. Moreover, it has a subsidiary named
Solarcity that specializes in the production of high quality solar panels. The mission and vison of
Tesla are focused towards the enhancement of the prospects of vehicles that can be operated
solely through renewable energy means in the future (Kessler, 2015). The company is focused
toward sustainable growth and development of eco-friendly and clean vehicles and technology.
The company was originally founded by Eberhard and Tarpenning in 2003 for the manufacture
of electric cars. The business was later bought majorly by their former investor Elon Musk. The
company became famous as they started manufacturing sports car that were powered by
electricity.
Reasons for choosing the company
Tesla is a company that is very different from the conventional car companies. Rather
than being energy efficient but still relying on the conventional fuels, Tesla cars are made to
completely run on renewable sources of energy such as electricity (Gianesello, Ivanov & Battini,
2017). Moreover, presently the company is one of the most successful ventures as far as research
and development of non-conventional sustainable technology is concerned (Moritz et al. 2015).
The cars manufactured by Tesla have captured the attention of the youth and the
environmentalists alike. The cars are becoming effective in terms of performance with passing

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time. Hence, these have been the very obvious reasons to choose Tesla. Additionally, this
company is led by the charismatic Elon Musk, who already is one of the most effective young
businessman in the present corporate world.
Fourth Personal journal entry set :Analysis of Tesla
BMC
Key Partners Key activities Value proposition Customer
relationship Customer segments
 The
company
has more
than 150
suppliers
that
engage in
the
manufact
ure of its
parts
across
the globe
 Google
earth,
Chei Mei
Navigatio
n
systems,
AT & T
and
Panasoni
c are
essential
partners
(Gianese
llo,
Ivanov
&
Battini,
2017)
 Manufact
ure of
electronic
vehicles
and
productio
n models
 Manufact
ure of
electricity
powered
sports
vehicles
 Manufact
ure of
compone
nts of
electric
sports
cars
 Research
and
developm
ent of
engines
and
technolog
ies that
can use
renewabl
e energy
to
function
effectivel
 The
company
provides
cars that
run on
renewable
energy,
hence,
reducing
the costs
associated
with
normal
cars
 Tesla sells
sport cars
that have
the
longest
driving
range in
terms of
electric
cars
 The design
of the
manufactu
red
vehicles
are very
aesthetic
in nature
and are
praised by
 Great
softwar
e
updates
for cars
that are
recalled
and
done
free of
charge
(Lyyra
&
Koskin
en,
2017)
 More
chargin
g
stations
are
being
built all
round
the
world
to
facilitat
e the
grievan
ces of
custom
ers
related
 High end
customers
that are
environmen
tally
considerate
 Home
customers
that can
have
requirement
of battery
for domestic
usage

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y
 Manage
dealershi
p chains
througho
ut the
world
 Building
of a 5
billion
dollar
giga
factory
for
battery
productio
n that will
focus on
all the
aspects of
most
reviewers
to
battery
power
Key Resources Channels

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 The
company
recently
became
an open
source
holding
company
 The
company
is located
along
with large
technolog
y
companie
s such as
Google,
NVIDIA,
HP and
Apple,
making it
very fast
in terms
of
innovatio
n
 The
company
has
excellent
managem
ent team
and an
effective
leader in
Elon
Musk
Cost structure Revenue structure
 Manufacturing cost are the
largest for Tesla
 Other important costs are the
federal loan costs
 Government subsidies greatly
reduce the cost of the
company
 Battery manufacturing cost
 Toyota licensing agreements
 Electric sport vehicle sales
 Sale of batteries for non-vehicular usage
 Major competitors are Nissan, Toyota and Chevrolet

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 Operating profit being
witnessed since 2013
SWOT
Strength
The essential strength of the Tesla motors are the unique value propositions that they add
for the customers. They are one of the few companies that are in the electric car manufacturing
business presently in the world. A significant strength is the leadership of the company. The
company is located at a place with all the leading IT companies of the world (Chen & Perez,
2018). Moreover, the company has a very good research and development facility. The key
partners of the company helps it greatly towards achieving its significant goals.
Weakness
It can be found from the BMC that the manufacturing model of the company is not cost
efficient. As a result the manufacturing cost incurred by the company are very large. The
company still has a lot to improve in regards to the cars that it manufactures. The weakness of
the company lies essentially also in the loans that it has taken to sustain its activities and the late
arrival of operating profits (Moritz et al. 2015).
Opportunity
There is a huge growth opportunity for the company as in the future the scope of electric
cars will greatly increase. The manufacture of the other important energy efficient batteries can
grow in the future. Huge scope of electric cars in the future is a great opportunity for increasing
revenue.