Entrepreneurial Interview Report: Shield Limited Analysis

This report presents an analysis of an interview conducted with Mr. John Schembri, the owner of Shield Limited, a Maltese company specializing in operational risk management. The report delves into Schembri's entrepreneurial journey, exploring his background, motivations, and the strateg...Read More

Opportunity Innovation and
Entrepreneurship.

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Background of An entrepreneur..................................................................................................1
2. Requesting an interview..........................................................................................................2
3. Preparing the topic guide.......................................................................................................2
4. Ethics which has been considered during the time of interview.............................................3
6. Transcribe recording...............................................................................................................3
7. Analyse the data......................................................................................................................5
8. Relating to the theory..............................................................................................................6
CONCLUSION................................................................................................................................7
References........................................................................................................................................8

INTRODUCTION
Innovation can be referred to as the procedure of translating ideas into reality. Both
innovation and entrepreneurship are considered to be as two essential elements which are
required for establishment of successful commercial business venture. Innovation is basically a
strategy which is applied by entrepreneur for satisfying the needs as well as demands of
customers. Entrepreneurial innovation is considered to be as multifaceted procedure in which
an individual engage with their employees in an organization for launching new products or
services in the market. It is the abilities, experience and knowledge directly influence the
techniques used by an individual for facilitating inn ovation.
The report will include the detailed interview conducted with John Schembri who is
business owner of Shield limited. It is Maltese organization who is well-known for operational
risk management. Study will also include the findings of facts which has been discovered during
the time of interview.
MAIN BODY
Background of An entrepreneur
Name of successful entrepreneur who has been interview is Mr John Schembri. He is
basically a business owner of the well-known company which is mainly popular for risk
administration. An organization is located in Malta and business entity has achieved leading
position in industry. Firm has been established by Mr John Schembri in year 1999. Before
establishing a company Mr John Schembri was employed in army. Mr John Schembri has
worked in army field for approximately eighteen years. An enterprise established by Mr John
Schembri offers mainly safety as well as security and also health related services to customers. It
is the unique quality of Mr John Schembri is that he mainly emphasizes on exploring as well as
capturing different opportunity (Garud, Gehman and Tharchen, 2018). During the interview, Mr
John Schembri said that he has entrepreneurial mind set from starting of his career. It is his
entrepreneurial mind set which has encouraged him to establish risk management business.
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2. Requesting an interview
The online research has been conduced and the secondary data which is available on the
internet has been utilized for extracting the list of successful entrepreneur. After getting the list,
random technique has been utilized for selecting the name of an entrepreneur. On simple words,
name of Mr John Schembri an entrepreneur of Shield field limited has been selected randomly.
In addition to this, e-mail has been sent for getting an appointment (Chang, 2018,). Then
afterwards, face to face interview has been executed in order to gather the information about his
entrepreneurial journey.
3. Preparing the topic guide
Interview questions which has been asked to Mr John Schembri are :
1. Please give brief introduction about you and your business?
2. What is your main objective of establishing specific type of business?
3. How you get an idea about starting the risk management business?
4. What are your key strengths as an entrepreneur ?
5. What is your mission at outset?
6. What are the main issues you faced at the initial stage of staring organization
7. How you overcome the challenges which has occurred at the starting stage of
business?
8. What type of opportunities you have sacrifice in order to establish Shield limited ?
9. What are the strategies you have formulated in order to drive firm towards
success ?
10. What are your responsibility as am entrepreneur?
11. How you advertise a business ?
12. To what to do attribute your success?
13. What are the techniques you have adopted for developing the customer base
14. What is the main fear that you have faced while establishing the shield limited
company ?
15. What is the main aspect you feel is important in order to become successful
entrepreneur ?
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16. What is the main fear that you have faced while establishing the shield limited
company ?
17. What is the main aspect you feel is important in order to become successful
entrepreneur ?
18. Do you think there is some formula or tactics which can be applied for running
business in successful manner ?
4. Ethics which has been considered during the time of interview
In relation to the interview with Mr John Schembri an entrepreneur, interviewer has taken
various measures for avoiding the ethical issues. For instance, interviewer has got the consent
form signed by Mr John Schembri. In addition to this, Mr John Schembr has been clearly
informed about the purpose of interview (Hilson, Hilson and Maconachie, 2018). Special kind of
computer software has been utilized for recording and storing the information gathered during
the interview. Only interviewer have access to the information provided by Mr John Schembr.
6. Transcribe recording.
[9.20 A.M.] Q1: Please give brief introduction about you business?
[9.22A.M.] Ans: Well!! I basically run an operational risk management company whose name is
Shield Ltd that provide advice to minimize the risk in company.
[9.25 A.M.] Q2: How you get an idea about starting the risk management business?
[9.27A.M.] Ans: This is nice question because everyone is asked. So when I was just about 10, I
saw an accident where a mall is damaged and there were about 50 people died due to not having
and risk management system. At that time I make a decision to run a risk operational
management company.
[9.31 A.M.] Q3:What is your main objective of establishing specific type of business?
[9.33A.M.] Ans: To protect people from sudden damage.
[9.35 A.M.] Q4:What are your key strengths as an entrepreneur ?
[9.37A.M.] Ans: well.. I am innovative and taking risk in my business.
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[9.40 A.M.] Q5: What is your mission at outset?
[9.41A.M.] Ans: Survive.. just kidding!!! well, I wanted to work for peoples and build a real
world enterprise risk management system.
[9.50 A.M.] Q6: What are the main issues you faced at the initial stage of staring
organization?
[9.52A.M.] Ans: It is quite personal.. but yeah...!! Financial issue.
[10.11 A.M.] Q7: How you overcome the challenges which has occurred at the starting stage
of business?
[10.13A.M.] Ans: Hahaha..!! Through my father support.
[10.20 A.M.] Q8:What type of opportunities you have sacrifice in order to establish Shield
limited ?
[10.22A.M.] Ans: Doctor..!! Kidding, I lost an opportunity of an army man.
[11.20 A.M.] Q9: What are the strategies you have formulated in order to drive firm
towards success ?
[11.22A.M.] Ans: Use online material, effective promotional strategy and low cost strategy.
[11.30 A.M.] Q10: What are your responsibility as am entrepreneur?
[11.32A.M.] Ans: Everything! To take good decision, faces up and down and then motivate my
employees and at the end.. I am ultimately responsible.
[11.42 A.M.] Q11:How you advertise a business ?
[11.52A.M.] Ans: Through social media.
[11.55 A.M.] Q12: To what to do attribute your success?
[12.12P.M.] Ans: Hiring outstanding candidate who are self motivates and there is no need to
manage. Next is ruthless persistence.
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[12.20 P.M.] Q13:What are the techniques you have adopted for developing the customer
base ?
[12.32P.M.] Ans: effective promotional tool and using advance technology.
[12.40 P.M.] Q14: What is the main fear that you have faced while establishing the shield
limited company ?
[12.49P.M.] Ans: Competition and sudden fluctuation in market Is my main fear that creates
negative impact upon my business.
[01.05 P.M.] Q15: What is the main aspect you feel is important in order to become
successful entrepreneur ?
[01.07 P.M.] Ans: such a typical question... !! according to my view, I think strong vision, good
time management and innovation are the best thing which needs to be included. Even I think that
using different opportunities an entrepreneur can also establish a new business in a world.
7. Analyse the data.
As per the above interview, it has been analysed that Mr. John Schembri is innovative
and self motivated person. He is also down to earth as his personal experience reflect that he
posses a good interpersonal skills that helps him to convince easily to his employees. On the
other side, it is also interpreted that Mr. John Schembri also have a great vision and quite
concern with the society as well that is why he open a risk operational management company in
which he provides advice to other people so that they can prevent to some damages.
On the other side, It is also analysed that Mr. John Schembri also has a great vision and
that is why he is able to manage the things in better way. As per his interview answer, it is also
analysed that Mr. John Schembri also ready to take bigger opportunities and risk in his life so
that he can easily learn new things and enhance his current knowledge as well. In addition to
this, it has been also analysed that Mr. John Schembri is innovative and uses different
opportunities into his working area so that he grow his business towards further level of success.
Not only this, the interview also reflect that he almost posses good entrepreneurial skills which
an entrepreneur must have and his convincing power and adopting new and advance technology
into working area skills also makes him different from others. His personal interaction which
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includes politeness and strong interpersonal skills also reflect qualities of an entrepreneur. Thus,
a strong innovative skills and uses opportunities into the working area will shows the good
entrepreneur qualities.
8. Relating to the theory.
Innovation
As per the opinion of Reid, Short and Buckley, 2018) Innovation could be defined as
transformation of ideas in order to create value for customers. In context of business, execution
of innovation strategy can be sourced of gaining competitive advantage Innovation has crucial
role to play in driving an entrepreneur towards success. However, it has been argued by other
authors that entrepreneurial innovation is basically a type of product innovation which is
executed by business entrepreneur in order to earn more profit.
According to the trait theory of entrepreneur, it is the creative skills which assist
entrepreneur in development of new ideas related to business. However, it has been argued by
other authors that, it is an entrepreneurial mind set which influence an entrepreneur to explore
more opportunities through which they get more business ideas. As per the view of Eckhardt,
Ciuchta and Carpenter, 2018, networking is very much important for developing the innovative
ideas. However according to the creativity five force hypotheses create ideas are necessary for
innovation.
Opportunity
For an entrepreneur, it is quite essential for creating an opportunities which is a foremost
or basic requirement that assist an individual to develop a best opportunity. In the same way, the
entrepreneurial opportunity also detail some various causative of an entrepreneur which are
further experiences when a person feat a chance. As per Suddaby, Bruton and Si (2015)
entrepreneur must posses or determine the right opportunities for a firm which is valuable and
this what Mr. John also posses. It has been cleared that Mr. John have a skills of good
interaction, polite behaviour and strong communication skill that helps to operate in business.
Even, The entrepreneur motivates and retain their employees through various ways. He provides
effective training to staff and discuss with them to identify issues and problems. On the other
side, as per the view of George and et.al., (2016) Entrepreneurial possibility is that term which is
really used by apical enterpriser in order to create improved position for the concern such that it
also aid them to lead their business at further level of success. In the same way, Mr. John also
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facilitated innovation in his business by using the techniques and this way, he shows that he has
all skills of an entrepreneur.
CONCLUSION
It has been summarized from the above report that both entrepreneurship and innovation
are very much essential for establishing successful business. The other fact which has been
discovered during the study is that ethical issues are to be considered by interviewer while
designing the question of interview. It has also been concluded that an entrepreneur has
specialized skills such as risk taking ability and high decision taking power which assist them in
establishing business in successful manner.
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References
Books and Journals
Chang, L., 2018, June. Route Construction of Innovation and Entrepreneurship Education
Development in Universities of Western China against the Belt and Road Initiative.
In 2018 2nd International Conference on Management, Education and Social Science
(ICMESS 2018). Atlantis Press.
Eckhardt, J.T., Ciuchta, M.P. and Carpenter, M., 2018. Open innovation, information, and
entrepreneurship within platform ecosystems. Strategic Entrepreneurship Journal, 12(3),
pp.369-391.
Garud, R., Gehman, J. and Tharchen, T., 2018. Performativity as ongoing journeys: Implications
for strategy, entrepreneurship, and innovation. Long Range Planning, 51(3), pp.500-509.
George, N. M. and et.al., 2016. A systematic literature review of entrepreneurial opportunity
recognition: insights on influencing factors. International Entrepreneurship and
Management Journal.12(2). pp.309-350.
Hilson, G., Hilson, A. and Maconachie, R., 2018. Opportunity or necessity? Conceptualizing
entrepreneurship at African small-scale mines. Technological Forecasting and Social
Change, 131, pp.286-302.
Reid, S.W., Short, J.C. and Buckley, M.R., 2018. Blazing new trails or opportunity lost?
Evaluating research at the intersection of leadership and entrepreneurship. The Leadership
Quarterly, 29(1), pp.150-164.
Suddaby, R., Bruton, G. D. and Si, S. X., 2015. Entrepreneurship through a qualitative lens:
Insights on the construction and/or discovery of entrepreneurial opportunity. Journal of
Business venturing.30(1). pp.1-10.
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