Reflective Report: Managing Enterprise in the 21st Century Skills

This report provides a reflective analysis of essential entrepreneurship skills, focusing on the author's learning experiences and development of key competencies. The report explores the importance of creativity, people management, courage, risk management, and critical thinking in the context of business plan formation and enterprise management. It delves into the practical application of these skills, highlighting the significance of leadership, synergy, financial acumen, and innovation for entrepreneurial success. The conclusion emphasizes the value of continuous skill development for both personal and professional growth, underlining the need for timely acquisition of these skills to achieve success in the 21st-century business environment. The report also includes references to relevant books and journals supporting the analysis.

Managing Enterprise in
the 21 ST Century

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
For every individual, it is extremely necessary to develop and inculcate both personal as
well as professional skills in order to develop the dynamic personality which will help them in
succeeding in personal as well as professional life. In the present report, the experiences and
learning of a student has been detailed and various aspects of his learning process will be
described. This report will demonstrate the awareness level of the process of learning that was
adopted by the student while interacting with other team mates during business plan formation.
Further, this report will also present a reflective study on the development of personal skill set of
the student himself during the entire process and lastly an interpretation of learning has been
made in this report. Present study will also analyze the importance of entrepreneur skills and
knowledge in order to get the best outcomes and approaches. Besides, at the need of the segment
report will also interpret the learning skills which further will discuss in this report. However, the
purpose of this report to examine the importance of entrepreneur development skill to gain
competitive advantage for future gain.
MAIN BODY
Description
Creativity
As an entrepreneur I must be creative with your skills. A detailed information about the
topic must be gained to be unique. Creativity helps you to stand out of box, as an entrepreneur
you must be creative with your work (Hutchinson, Giubileo, and O'brien, 2015). Creativity will
help you to gain a strong hold in the market. Creativity will help you to get out of your
competitor’s reach. Creativity will help me to flourish with the business. Creativity will lead me
to success and make us grow. I should be creative with my work which will gain more of the
customer base.
People management
For become successful entrepreneur, I have the quality of Personal management. I have
the skills of managing peoples at work-place. I, learn about to understand the behaviors,
emotions and feelings of an individual, for motivate them and enhancing their performance. It is
very necessary for me because with proper understanding of an individual I am able to give him
or her feedback and suggestions which may develop them. I also learn new techniques and skills
for groom them for better performance and increasing the growth of an enterprise. I also focus

upon the individual feelings which may essential for them like their basic and social needs
(Maskell, Baggaley and Grasso, 2017).After analyzing the business plan for the organization, I
have evolved a range of skills for continue growing myself and my future. The skills and
qualities which have influenced my mind is the enhanced analytical skills which becomes utmost
important while assessing the market trends. This quality has enabled me to emphasize on every
aspect of the business which will eventually help me in contingency and strategic planning and
will boost my logical thinking ability (Lee, George and Oliver, BlackBerry, 2016). Apart from
this, the strong leadership quality has directed me towards my career goals and stimulated me to
exemplify.
Courage and risk management

By having Courage convert problems into opportunity and through research work by
taking an unknown track to find out appropriate solution and by creativity and innovativeness
reaching to the desired path by overcoming the hurdles. For gaining rewarding outcome of an
opportunity, risk taking have helped me in building positive mentality for dealing with various
problems with a creative process within me and my team. Taking risk is scary, but completing it
and winning over it is the real challenge which has been overcome by me and my team and has
helped me in reaching the desired goal and development of my enterprise.
Critical Thinking
Critical thinking refers to the ability to evaluate information objectively and to prepare a
reasoned judgment. It involves the interpretation of sources such as facts, data and research
findings. Being a good critical thinkers I can always draw better conclusions from a set of
information and discriminate between less useful and useful data to solve a problem or take a
decision. Through critical thinking I can improve the ability of problem- solving and creativity.
Being a critical thinker I don't take anything at face value and enjoy exploring all sides of deeper
facts and issues hiding within all modes of information.
Interpretation
Throughout the learning I interpreted that, I have learned so many concept of entrepreneur
learning that helped me to engage my knowledge and new development opportunity for my
career enhancement also (Sudarwati and Jombang, 2018). To become a successful entrepreneur I
learned people management learning. Through I got to learn how to manage people and manage
the work out goals. However, it also helps to me to get my final destination and also helped to
get the best opportunity as well. It has been interpreted that how much risk management is
helpful for me to develop my managerial skills. In order to learned entrepreneur skills. Risk
management is very important and vital for the development. In order to increase entrepreneur
skills and innovation style management it is very helpful to engage new learning possibilities
growth challenge (Núñez Ramírez, 2017). However, in order to analyse risk and challenges from
the competitive marker. Entrepreneur also should be capable to analyse risk with the help of
critical evaluation. This technique also I learned that assist me to compete my future goals and
objectives (Müller and Murmann, 2016).
Creativity :- creativity is the thinking ability of ability to invent and/or create something new: be
that a concept, a solution, a method, a work of art, or an actual, physical device. Creative

thinking is based on looking at things in new way that hasn't previously been considered. This
skill helps me to get the idea of new enterprise. This skill makes me think out of the box where I
decided to start and manage business. It increases my analytical power where I think before
doing something. This ability requires the ability to examine things carefully to understand what
they mean. It helps to collect the data, a lesson plan, and an education. It enhances my problem
solving skill where I m in lack and found my lacks so I further make I correct and do it in proper
ways.
People management:- this skill says that the management of the employees and the people
working in the organisation. In development of this skill I activate my listening skills which
means a type of listening where all the senses are engaged and the listener strives to fully
understand what is being communicated to be able to remember and respond to the message. It
also creates improve my communication skill when I was learned how to manage people and
employees and working in the organisation so that further I communicate to the employees in my
enterprise and manage them effectively. These skills help me to get how to motivate the
employees, delegating work and provide them training so that they work efficiently in
organisation.
Courage, risk management and critical thinking:- are essential skills for being a successful
entrepreneur. Entrepreneurs possessing these skills are successful in their career. Risk
management means to manager the risk take in the business and how this risk will help to get the
positive outcome to business. Courage has helped me in converting problems into opportunities,
It has helped me in identifying creative solutions and overcome my fears. It has helped me in
building positive attitudes and dealing with the problems by making creative solutions. By taking
risks, entrepreneurs earn profits and reach their goals. Risk taking skills has helped me in taking
risks and become successful by achieving objectives and goals. I am confident in facing
uncertainty if it arises. Critical thinking has helped me in evaluating and analysing facts and
figures into meaningful information which will be helpful for achieving objectives of business. It
has helped me in making strategic decisions. I have also improved the ability of problem solving,
I can think effectively and explore all sides of issues before making decisions.
Output

There are various entrepreneur skills that reflect to be a successful entrepreneur and some of the
skills are as follows:
Leadership skills
A successful entrepreneur is a good leader. The successful leader is a person who I snot
selfish and always takes care of the others. The leader is always a open minded and is of
impartial nature. A good leader is one who effectively communicate with others in order to bring
the desired result. A good leadership is the result of inspiring and motivating the employees. A
successful leader used to always take feedback in order to check what are the things which are
needed to be corrected and what are things that are needed to be changed. These all are the
necessary things which are required in a good leader in order to make a leader a successful
entrepreneur.
Synergy
The meaning of synergy is combined effect have greater effect if it is compared with the
individual efforts. Synergy comes from two or more things combined together rather a single
thing. Basically the entrepreneur must have the knowledge about what the entrepreneur is doing
or about to do and must have sound knowledge in order to find out what are the loop[holes in the
information. As the environment is changing rapidly the entrepreneur must have the updated
knowledge which can be of any software, machinery etc. The learning by the entrepreneur can be
done via online as well as offline mode. Attitude is also another thing which matters a lot by the
entrepreneur which must be positive for the entrepreneur. The entrepreneur must eliminate the
negative environment or attitude by the entrepreneur's positive attitude.
Performance is the factor which motivates the leader to achieve the targets in order to
achiever the goal of the organization. Productivity is a part of performance and the entrepreneur
must be productive in the work in a way by doing more work in less time. The entrepreneur must
have the ability to quickly revive from the difficult situation. If all of these qualities are
combined then it makes a good entrepreneur or all these things are very much necessary for a
proficient leader.
Financial skills
The entrepreneur must also have some technical skills as well which is financial skill as
one of them. The successful entrepreneur must be able to prepare the financial statements and
must be able to analyses the financial statements. The analysis of the financial statements will

result in comparing the performance of the company quantitatively. In the financial statements
the entrepreneur must also be able to understand what I balance sheet, what is Profit and Loss
account, what is the cash flows and what is statement of equity.
Creative and also innovative
A leader to be successful must be creative and also innovative in order to support the
change for the good. A successful entrepreneur should be creative by which the entrepreneur can
change the idea into reality. Innovative leader have the ability to take the first mover advantage
from the competitors. These all are the skills to be a successful entrepreneur.
CONCLUSION
After going through the research conducted in this report, it can be concluded that skill
development helps individuals in developing multiple skills which improve their personality and
therefore job opportunities. In the above reflective study, the student through his reflective essay
analyzed that by developing skills like critical thinking, time management etc. the researcher was
able to develop various core competencies like risk management ability, critical management
ability etc. Therefore, this report concluded the importance of developing both personal and
professional skills so that a person can succeed in hos both professional and personal life. Lastly,
this report also concluded that developing these skills in timely manner is another most important
aspect in a perosn's overall development.

REFERENCES
Books and Journals
Hutchinson, R., Giubileo, J. and O'brien, D., CA Inc, 2015. Methods and systems for managing
enterprise assets. U.S. Patent 9,047,582.
Lee, D., George, R. and Oliver, B., BlackBerry Ltd, 2016. Method and system for managing
enterprise-related mobile calls. U.S. P
Maskell, B.H., Baggaley, B. and Grasso, L., 2017. Practical lean accounting: a proven system for
measuring and managing the lean enterprise. Productivity Press.
Müller, B. and Murmann, M., 2016. The workforce composition of young firms and product
innovation-complementarities in the skills of founders and their early employees. ZEW
Discussion Papers, 16.
Núñez Ramírez, M.A., 2017. Self-esteem and entrepreneurial skills in high school
students. Revista Electrónica de Psicología Iztacala, 18(1).
Sudarwati, N. and Jombang, S.P., 2018. Compiling Integrated Entrepreneurship Module by
Using Design-Based Research Approach to Improve Students ‘Entrepreneurial
Skill. Journal of Sustainable Development, 11(1), pp.83-90.

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