Strategic Entrepreneurship Journal Assignment - University

This assignment is a personal journal exploring the student's entrepreneurial potential. It begins with a self-assessment using the GET 2 survey, analyzing the student's scores in areas like achievement drive, creativity, and locus of control, and discussing how past experiences have shaped these traits. The journal then delves into the student's personality type, recognizing associated behaviors, and identifying skills, experience, and knowledge that can contribute to an entrepreneurial team, including decision-making, communication, and empathy. The assignment continues with personal journal entries, analyzing an entrepreneur, Bruce Jeffreys, and his car-sharing service, GoGet, examining its business model, customer segments, and value proposition. It also includes a SWOT analysis and explores the application of the Blue Ocean Strategy to the business, proposing product diversification and new customer relationships.

Running head: STRATEGIC ENTREPRENEURSHIP
Strategic Entrepreneurship
Name of the Student:
Name of the University:
Author’s Note:

2STRATEGIC ENTREPRENEURSHIP
Row1 46 A
1
37D
1
28D
1
19A
1
10A
1
1D
1
TALLY
6
2 47A 38A
1
29D
1
20D 11D
1
2D 3
3 48A
1
39A 30A
1
21A 12A
1
3D
1
4
4 49D
1
40D 31A 22D 13A 4A
1
2
5 50A
1
41A 32D 23D
1
14D 5D
1
3
6 51A 42D 33D
1
24D 15A 6A
1
2
7 52D 43A 34A
1
25A 16D 7A 1
8 53D
1
44A
1
35A 26D 17A 8D 2
9 54A
1
45D
1
36D 27A 18A
1
9A 3
Row 1 +6Sore obtained is 8 need for achievement
Row3 only need for autonomy
Sore obtained is 4
Row 5 + row 8=creative tendency
Score obtained 5
Row 2+row9=6 calculated risk taking
Row 7+row 4=3 loss of control
Total score=
8+4+5+6+3=26
(MEDIUM)

3STRATEGIC ENTREPRENEURSHIP
I feel that I am on the medium scale as my score is only 26. This is evident of the fact that I have
to really work very hard so that I am able to develop the entrepreneurial qualities so that I can
grow up to become a successful personality in the future. My score is 8 in the field of need for
achievement. This shows that I am good at this aspect. This is an even number and it is evident
of the fact that I have good enterprising quality in this aspect (Aithal, 2016).
Need for autonomy my score is 4 which is gain an even number. It is evident of the fact that I am
good at this aspect and I always like to work with a lot of autonomy. I feel that I need to get the
right kinds of autonomy so that I can take all my decisions without much interference.
I have got 5 in the field of creative tendency which is evident of the fact that I am still on the
verge of improving myself a lot. I will have to make sure that I am undertaking critical analysis
and implementing those ideas in my projects so that I do nit imitate the works of others (Kamal
& Dionne-Odom, 2016).
My risk taking capability is good as my score is 6. This means that I can actually be a good
entrepreneur in the near future by keeping an open mind that would be taking up all the
challenges without any fear.
Locus of control is a field where I will a have to work hard. My score in this field is 3 which
show that I will have to develop myself much more in this field and make sure that I am being
able to keep a proper control over all the different decisions that I am taking (Aithal, 2016).
The personality type that I have got is 26 which is a medium score on the terms of
entrepreneurial personality. Yes, I can recognize some of the inherent traits or behaviors in
myself. I am able to understand that I have a good working capability under autonomy. In other
words, I am able to work in a proper way when there are n o external pressures or any kinds of
decisions that are being imposed on me.
Team
I feel that I am of a risk bearing mentality. This will always enable me to take the proper
decisions at the proper time and also help to achieve the overall goals and objectives of the team.
Skills
I feel that some of the important skills that I have are as follows-
 Decision making skill
 Communication skill
 Empathy
I feel that these are the abilities that will help me to understand the different issues that are
actually on going in the organization. In other words I will also be able to understand about the

4STRATEGIC ENTREPRENEURSHIP
skill gaps that are present among the employees and the different ways in which I can solve the
same.
Experience
I am not really experienced in this field. However I am trying my level best to make sure that I
am being able to understand all the different ways in which I can
Network
I will have to develop a proper networking skill so that I am able to get a proper connection with
all the other industrialists and the entrepreneurs who will be helping me to develop myself into
an ideal entrepreneur.
Knowledge
I will be able to develop a proper knowledge about the different methods that will be used for the
purpose of making the business idea to stand out in the crowd. This will help in knowing the
different areas in which I can actually apply my entrepreneurial skills and knowledge.
I believe that I am a Hipster and I have a lot of creative ideas for the purpose of the
overall welfare of the organization (Brixiová, Ncube & Bicaba, 2015). At the same time I feel
that I have to work very hard so that I am able to carry on with the business in a proper way and
make sure that I am being able to develop some unique goods and services for the solving of any
existing issue in the community.
Second Personal Journal Entry Set
Tasks:
Your Poster Entrepreneur
Bruce Jeffreys is the entrepreneur whom I have selected. I have selected him as the entrepreneur
as I am highly motivated by the different innovative strategies that he has used in order to carry
on with his business. He has been born and brought up in Australia and has also been educated
there (Orazem, Jolly & Yu, 2015). However at the same time, he has also been able to try out
different professions in order to enrich his knowledge base. It has been seen that throughout his
career he has always been able to understand the problems that are being faced by the people of
the community (Mi, 2015). After coming back from there in Australia he became part of the
NSW State Government’s Sustainability Unit, based within the NSW Department of
Infrastructure, Planning and Natural Resources. He realized that people of Australia must be

5STRATEGIC ENTREPRENEURSHIP
given a solution to their issue of transportation. Often they have to travel from one place to the
other and they really find it very tough to travel from one city to the other for the purposes like
shopping, job, education and other. The special feature that has been added is that the trips which
are offered are like the car rental trips and they do not provide only one way service (Qureshi,
Saeed & Wasti, 2016). They make sure that the customers are able to use the car sharing service
and get the feel of travelling in their own private cars. Davidson says, right prefrontal activation
acts as what's called a "behavioral inhibitor". This theory holds good as it talks about the
different times people give up easily on feeling threatened. However this is because of the fact
that they suffer from the associated feelings and disorders.
Third Personal Journal Entry Set
The venture is a car hiring service called the Goget cars that was launched in the year 2002 to
2003 when people often suffered from the issue of lack of vehicles (www.goget.com.au.2019).
The philosophy as the business was to make sure that the citizens of Australia are to be in a
better and comfortable life. However Bruce has been able to give up this fear after getting his
mew business idea and also after feeling a sense of power by knowing that he is working for a
good cause.
I select this company because it helps me in understanding the ways in which the needs and
demands of people of the society can be solved. This is because of the fact that as an
entrepreneur it is needed to understand and find out some solutions for the well being of the
people of the society.

6STRATEGIC ENTREPRENEURSHIP
Forth Personal Journal Entry
Tasks:
1. Poster Company’s BMC
Problems Customers Solutions Channels Revenue USP
The problem
that can arise
is the large
Customers
will be the
people hiring
The solution
is to help
people to
Customers
will be
reached
The needed
revenue will
be made by
The USP will
be a free car
rental service
Key Partners
Started the business with
his parent named Nic
Lowe
Key activities
They key activity is to
provide a proper
affordable car rental
service to the people of
Australian community.
Key resources
Resources from the fair
that is paid by the
customers availing their
service
Value proposition
Value generated by
them is to make sure
that they are being
able to provide an
affordable car rental
service to the people
of Australia
Customer
relationship
They give top
priority to the
customers by
making sure that
they are able to get
affordable car rental
service in almost all
the different places
in Australia
Channels
Mobile applications
Customer
segments
Students, office
travelers
Cost structure
The cost structure is mainly the amount of money that is available
from the different trips that are undertaken by the company
Revenue streams
The revenue mainly comes from the various tie-up
relations and the partnerships that they have. This mainly
refers to the number of trips that are being availed by the
customers.

7STRATEGIC ENTREPRENEURSHIP
competition
and the lack
of social
connections
car rentals
from one
place of the
city to the
other for
purposes like
schooling,
shopping,
work related
travels and
others
travel easily
by getting car
rental service
at affordable
price and also
help them get
the cars from
their desired
place of
location
through the
online
applications
and the sites.
collaborating
with some
event
companies
so that free
car sharing
services can
be given to
more people
and also for
carrying the
materials of
the events
from one
place to
theother
for the
customers and
also a free
subscription
for the free
subscriptions
for petrol in
their personal
cars
SWOT ANALYSIS
STRENTH
The company has been working for the betterment of the people of Australia so that they can
travel from one place to other without facing any troubles. The company offers for a car rental
service so that people can get the cars from their desired place and do not face much trouble.
WEAKNESS
Lack of enough digital or online presence can turn out to be one of their weaknesses. In order to
attract the attention of the customers they have to develop proper web pages or the app
development services.

8STRATEGIC ENTREPRENEURSHIP
OPPORTUNITY
They can use the car service facility to several other geographical parts so that they can get a
better source of revenue for the developing of their services.
THREAT
A tough competition can be one of the problems that might be faced by the company. This is
because there are many companies trying to come up with the same business idea.

9STRATEGIC ENTREPRENEURSHIP
3. Using Blue Ocean Strategy
The steps involved in the Blue Ocean strategy are as follows-
The business initially comprises of the car sharing service and they will be expanding by using
the different new strategies like –
Product Diversification-The Company will use the promotional strategies in order to give some
new and innovative business ideas like giving a free trip to the customers and also giving them
some free subscriptions for petrol in their personal cars as well. This is one of the very mew and
attractive innovation that has never been brought about by any other car sharing company prior
to this.
Blue ocean strategy based canvas model
Key
Partners
Nic Lowe
will
remain
the
partner
Key activities
A change will be that
they will provide a special
trip every month at
totally zero cost along
with a free monthly
petrol subscription
Key resources
Resources will be
takes from the
trips take by users
Value proposition
The values
generated will be
able to help the
customers to
develop a loyalty
towards the
company as they
will get a free trio
and also some
amount of free
petrol
Customer
relationship
Help line numbers must
be developed that will
help customers to stay
connected
Channels
Online cannels will
also have to be
developed
Customer segments
The new idea will
help in increasing
the customer base.
Cost structure
The cost structure wills increase as they will
be able to earn more revenue.
Revenue streams
This will help in increasing the revenue as more
customers will be taking up the rides.

10STRATEGIC ENTREPRENEURSHIP
Fifth Personal Journal Entry Set
Tasks:
Reading this text has been very useful as it has helped me for the purpose of
understanding myself and also the different areas of strengths and weaknesses. This has helped
me to get a score that is 26 through the personality tests. This has helped me to understand that I
will still have to work very hard in order to develop some qualities that would help me to become
a successful entrepreneur in the near future.
The entrepreneur whom I have chosen is Bruce Jeffreys whose works have helped me to
get a clear understanding of the different qualities that must be present within a successful
entrepreneur. I have realized that in order to become successful in this path I will have to
understand the issues being faced by the people of the community and then try to find out some
new and innovative techniques for solving the same. I found the innovative ideas of Bruce to be
very beneficial for me. I have realized that developing a very innovative and challenging nature
is needed for the purpose of challenging the age old ideas and finding out some newer inventions
for the purpose of developing their business ideas.

11STRATEGIC ENTREPRENEURSHIP
References
Aithal, P. S. (2016). The concept of Ideal Strategy and its realization using White Ocean Mixed
Strategy. International Journal of Management Sciences and Business Research, 5(4),
171-179.
Brixiová, Z., Ncube, M., & Bicaba, Z. (2015). Skills and youth entrepreneurship in Africa:
Analysis with evidence from Swaziland. World Development, 67, 11-26.
Kamal, A. H., & Dionne-Odom, J. N. (2016). A Blue Ocean strategy for palliative care: focus on
family caregivers. Journal of pain and symptom management, 51(3), e1-e3.
Mi, J. (2015). Blue ocean strategy. Wiley Encyclopedia of Management, 1-1.
Orazem, P. F., Jolly, R., & Yu, L. (2015). Once an entrepreneur, always an entrepreneur? The
impacts of skills developed before, during and after college on firm start-ups. IZA
Journal of Labor Economics, 4(1), 9.
Qureshi, M. S., Saeed, S., & Wasti, S. W. M. (2016). The impact of various entrepreneurial
interventions during the business plan competition on the entrepreneur identity
aspirations of participants. Journal of global entrepreneurship research, 6(1), 9.
www.goget.com.au. (2019). www.goget.com.au. [online] Available at:
https://www.goget.com.au/about-us/our-story/ [Accessed 24 Sep. 2019].

12STRATEGIC ENTREPRENEURSHIP
Bibliography
Bujor, A., & Avasilcai, S. (2016). The creative entrepreneur: A framework of analysis. Procedia-
Social and Behavioral Sciences, 221, 21-28.
Chatterjee, N., & Das, N. (2016). A study on the impact of key entrepreneurial skills on business
success of Indian micro-entrepreneurs: A case of Jharkhand region. Global Business
Review, 17(1), 226-237.
Staniewski, M. W. (2016). The contribution of business experience and knowledge to successful
entrepreneurship. Journal of Business Research, 69(11), 5147-5152.