Entrepreneurship Report: Stallion Recruitment, Theory and Analysis

This report provides an in-depth analysis of Stallion Recruitment, a company founded by William Proctor, focusing on entrepreneurship, innovation, and opportunity theories. The report examines the company's recruitment services, its ability to identify and capitalize on opportunities, and the challenges it faces in a diverse workforce. It applies opportunity theory, highlighting the importance of recognizing market trends and seizing opportunities for growth. The report also discusses the significance of innovation, particularly in terms of cost-effective recruitment strategies, and the role of technology in communication. Furthermore, it explores the entrepreneurship theory and its application in the context of Stallion Recruitment's business model. The analysis includes insights from interview data, relating the company's practices to theoretical frameworks, and concludes with a summary of key findings and implications for business development. The report emphasizes the importance of adapting to market dynamics, utilizing technology, and understanding the needs of both clients and candidates.

Innovation and
Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Analysis by interview..................................................................................................................1
Relation of interview with the theory..........................................................................................3
CONCLUSION................................................................................................................................5
REFERENCE...................................................................................................................................6

INTRODUCTION
Entrepreneur are the person who run its business by innovating new product and services
in market. Its main aim is to grow their business by attracting people (Aparicio, Urbano and
Audretsch, 2016). All entrepreneur are skilled and highly talented who analysis needs of people
and bring products and services that can fill their needs. It mainly focuses on different types of
needs and wants of customers then bring that products for the purpose of growing business
continuously. The present report is based on Stallion recruitment that was founded in 2012 by
William Proctor with a decade of experience working in engineering & facilities sector that
provides recruitment services. The present report is based on information which are collected by
managers from interview transcript. This report will cover various data on the basis of interview.
MAIN BODY
Analysis by interview
Entrepreneur is a person who innovates new ideas and bring new products and services
for the purpose of growing their business. Every business concern has dream that their business
will grow fast by using own knowledge and experience. So they started to work and accomplish
targets. It is the primary duty of entrepreneur is to analysis current trend and introduce attractive
products for the purpose of sustainable development. To complete the objectives there is need to
have coding frame that help to assist in business process and maintain profitability.
From the interview session, it has been analysed that William Proctor has started their
business in 2012 in which it provides recruitment services to different organization. It provides
right people for right job after analysing their skills and experiences that helps to achieve targets.
This is not new field for William Proctor because they worked with recruitment firm in the age
of 13 years as a consultant. Then William Proctor has decided to leave that company will start a
new business due to having confidence, opportunity and risk taken quality (Bacigalupo and et.
al., 2016). Such person was inspired by recession period which was happened in 2007 – 2008 in
which financial crisis businesses still trying to get a way to come back. By applying opportunity
theory it got opportunity to start their business and grow up by making profits. On the other side,
it is very important for organization to give something back to society who helps to run their
business effectively. Society connects people from organization by providing skilled and trained
people who helps to run a business successfully. This also helps to make feel that William
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Proctor will provide a right job to people by applying entrepreneurship theory. These people
helps to get skilled and talented people in organization which is the dream of all organization.
Entrepreneurship theory helps to introduce from a new entrepreneur that is William Proctor who
started their business 'by applying opportunity theory. This theory says that every person should
grab the opportunity by analysing market and make profits by achieving targets (Brenner and
Uebernickel, 2016).
William Proctor has find an opportunity in recruitment field such as after recession large
company are ready to invest, expand their businesses. So in 2012 Stallion recruitment has started
to supply 60 new electrical engineers to Servest group by giving job advert. It also has been
analysed that workforce in UK are very diverse and some time might be difficult to deal with
them. So Stallion recruitment has faced such challenge to deal with different situations such as
social, academic and ethic background. There was language and culture barrier which was faced
by selected organization. Therefore it is important for organization to choose right candidate for
right job. Opportunity theory also helps Stallion recruitment to select right person that give
advantages to people for getting job opportunity. Company should provide 24/7 hours services to
their customers that helps to maintain trust and make more profits.
Innovation theory is very effective for small business because it does not need to have
financial power for running a business. Organization can find out new ways that help to increase
recruitment process such as media platform and magazine. It helps to cut the cost of company
and make it more effective. Therefore, innovation theory consider as essential theory in any
business organization that helps to introduce from new services by cutting cost and making
profits. On the other side, it has been evaluated that organization should use new technology
while running their business that helps to communicate in effective manner. Such as organization
can recruit candidates thorough emails, whats up, Instagram and other social media that helps to
know qualities of staff and decision are taken according to communication (De Vries, Bekkers
and Tummers, 2016). Communication is effective tool that helps to select right person for right
job as it helps to understand needs and fill needs accordingly.
It also has been analysed that entrepreneur should have skills and good characteristics
that helps to focus on goals and objectives of business organization. Organization should provide
better quality of products and services for the purpose of growing business continuously. If it
provides good quality then it can increase interest of people and make profits. Manager should
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motivate employees and suggest to deal with difficult situation for the purpose of achieving
goals. Opportunity theory are helpful for business industry as it give new opportunity to business
for growing business and make it profitable. Organization should grab opportunity and need to
perform good that helps in growing continuously. It also has been analysed that business concern
should build a coding frame that helps to run and grow a business continuously. Coding frame
such as communication and opportunity that helps to understand needs and make innovation
accordingly (Frederick, O'Connor, and Kuratko, 2018).
Relation of interview with the theory
Theory of Opportunity – The particular theory related to a condition that is defined
about the products as well as services has been sold at cost of manufacturing. The opportunity of
entrepreneurial defines as situation where entrepreneur can take actions as per requirement and it
will help in generate profit. It also focus on the wealth maximisation within certain time limit in
an effective manner. Eventually, opportunity is considering as essential element for any
entrepreneur as it enable them to achieve increased level of sales and also help in get benefits of
competition in efficient way. Moreover, entrepreneurial opportunity bring out growth in the
Stallion Recruitment with the help of monetary and social condition apparent as great to make
other product in reference to carry out positive attitude in between personnel or community that
add value to brand image.
There is always clashes among the demand and supply of commodities between
population in respect to price as when one commodity cost increase that time demand of other
price also increase vice versa. Hence, business concept is more valuable and plays significant
role to conduct operations of business as well as their functions as it enable them to make use of
available resources in reference to generate profit maximisation of profit in an searching and
prompt way (Hinings, Gegenhuber and Greenwood, 2018). Additionally, opportunity
development point out those opportunities which comes on the forth number as per concept and
further get formulated over the course of time as it can be signified to be ongoing nor continuous
proactive process that is constituent and primal for the shaping of a business venture in an
impressive and productive style. Therefore, Opportunity identification is classified into three
category first one is perception, discovery and creation. Therefore, the term perception defined
that several individuals understand about the varied expectations owning to the heterogeneity in
an individual's sensitivity towards. As per the interview focus on the opportunity into recruitment
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field because every week see about 50-60 new job adverts which is received as per opportunities
to take benefits. In present time market of UK fluctuated any time and find out challenges
regarding to recruitment procedure in related t dealing with people on the basis of social,
academic and ethnic background. The market of UK is large market where is people get different
opportunities as an entrepreneur as per the business target to people ( Karimi and et. al., 2016).
Theory of Entrepreneurship
According to this theory an entrepreneur find out new way to implement their business in
particular market and focus on the value creation theory which is related to entrepreneur
experience in its fullest begins as per the entrepreneurship intention and discover of
entrepreneurial opportunity. The particular theory defined into two stages of value development
framework such as venture execution and venture validation that embedded fluctuate abilities
that reconfigure the entrepreneurial competence to develop continuous importance and suitable
reward. Therefore, entrepreneurship is not simply the procedure of getting a new venture rather
than it is described as an activity of value development and incorporation an uncertain business
environment.
The first stage of venue execution, entrepreneurship driven through entrepreneurial
perception or an inspiration or an aspiration for reward, discover external opportunity in
reference to get competitive advantage. In Context of stallion recruitment focus on the procedure
of recruitment and apply new strategy to attract applicants regarding to job. The second stage of
venture monetization, entrepreneur may get external resources like venture capital or strategic
alliance if necessary a develop or achieve complementary dynamic or change capabilities
(Kuratko, 2016).
Theory of innovation
The concept of innovation is defined as familiar term in present market place as it
establish the changes that was seen as an exception to stability and equilibrium. Moreover,
innovation defined as any new policy that an entrepreneur attempt to deduct all cost of
production and improve the demand of goods as well as services. Furthermore, the theory of
innovation states that the entrepreneur achieve profit through an initiative to analysing existing
or rising trend of industry and achieve latest or novel thoughts for the enhancement of market
share and increase the living of standards of society as well as community. Thus, company focus
on innovation strategy in terms of get continue innovation and effects for large company to
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provide social media platforms regarding to recruitment process. It will help to reduce the cost
down and made more effective (Leonidou and et. al., 2018). In present time innovation consider
as digital technology to speedily communicate through emails, what's app and more apps with
employees for our clients.
In current time innovation become essential element for entrepreneurship in order to
provide facilities to entrepreneur in a manner of empowering individual to take charges of lives
and economic prosperity. Along with this there are several level of innovation in reference to
company like incremental, disruptive, architectural, radical which as a way for a business to
develop and convert new knowledge into fresh products (Mosey, Guerrero, and Greenman,
2017).
CONCLUSION
From the above report it can be concluded that entrepreneurship is important in
competitive market, it helps to introduce from new product and services in market. By
innovating new products organization can continue their business and make efforts to growing
rapidly. It consider innovation theory, opportunity and entrepreneurship theory that helps to
bring new products and maintain profitability. Opportunity theory consider perception, discovery
and creation that helps to think innovative in existing market for the purpose of running a
business.
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REFERENCE
Books and Journal
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Bacigalupo, M., and et. al., 2016. EntreComp: The entrepreneurship competence
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Brenner, W. and Uebernickel, F., 2016. Design thinking for innovation. Research and Practice.
De Vries, H., Bekkers, V. and Tummers, L., 2016. Innovation in the public sector: A systematic
review and future research agenda. Public administration. 94(1). pp.146-166.
Frederick, H., O'Connor, A. and Kuratko, D. F., 2018. Entrepreneurship. Cengage AU.
Henry, C., Hill, F. and Leitch, C., 2017. Entrepreneurship Education and Training: The Issue of
Effectiveness: The Issue of Effectiveness. Routledge.
Hinings, B., Gegenhuber, T. and Greenwood, R., 2018. Digital innovation and transformation:
An institutional perspective. Information and Organization. 28(1). pp.52-61.
Karimi, S., and et. al., 2016. The impact of entrepreneurship education: A study of Iranian
students' entrepreneurial intentions and opportunity identification. Journal of Small
Business Management. 54(1). pp.187-209.
Kuratko, D. F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
Leonidou, E., and et. al., 2018. An integrative framework of stakeholder engagement for
innovation management and entrepreneurship development. Journal of Business
Research.
Mosey, S., Guerrero, M. and Greenman, A., 2017. Technology entrepreneurship research
opportunities: insights from across Europe. The Journal of Technology Transfer. 42(1).
pp.1-9.
Serrat, O., 2017. Business model innovation. In Knowledge Solutions (pp. 499-507). Springer,
Singapore.
Surie, G., 2017. Creating the innovation ecosystem for renewable energy via social
entrepreneurship: Insights from India. Technological Forecasting and Social Change.
121. pp.184-195.
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