Introduction Concept Of Entrepreneurship Business Essay
Concept of entrepreneurship. Basically, entrepreneurship is the procedure that a individual place a new chances for puting up an endeavor to do their dream come true. The figure 1 shows the construct of entrepreneurship. While an enterpriser is the 1 willing to take the hazard to get down up a concern in order to do net income. There are many people misunderstand that successful enterpriser are born. In fact, is opposite, enterpriser can be trained to larn entrepreneurial cognition and accomplishments such as managerial accomplishments, selling accomplishment and entrepreneurial attitude. Courage, doggedness, advanced, hazard taker are some of the features for a successful enterpriser. They are really of import as they create more employment, presenting new engineerings and increase efficiency by advanced and originative in bring forthing their merchandises and services every bit good as contribute to economic growing. There are many existent life successful entrepreneurs illustration such as Steve Jobs, Bill Gates, Li Ka Shing and so on. Therefore, with all those necessary accomplishments, cognition and features everyone could be one of them in hereafter!
Part I: Profile of the Past
Analyze Your Personal Preferences.
Beginning of energy
The first thing that would give me energy is have a good consequence in making things. Geting a favorable consequence can give me the sense of accomplishment and therefore actuate me and give me the energy to work harder. It is a cogent evidence of how much of attempt I had put on my survey to actuate myself to travel farther. Second, taking a sleep about 15 minute to 30 minute in the afternoon would give me the power of the twenty-four hours. As many people said “ to rest is to fix for a longer journey ” . This is because holding adequate remainder would assist me in concentration and reviewing my head. Third, I would hold some travel during vacation for loosen uping and sense of enjoyment. This would assist me to let go of tenseness or de-stress myself.
Beginning of energy ( Leakage )
The first thing that would take away my energy is inordinate emphasis. Too much of emphasis will makes me anxiousness and can non fall into slumber at dark. This will do me make non hold adequate remainder and energy every bit good as affect my day-to-day plants. Besides, treated below the belt by others will besides demotivate me and take away of my energy to work harder or take up new challenges. This is because it makes me depress and believe about what am I do and the attempt put in are non worth it. Furthermore, hunger will do me deficiency of energy as good. This is because it de-energizes me and makes me can non concentrate on making something.
1 – Gives/Takes Energy the most
3 – Gives/Takes Energy the least
1- Have a good consequence in test
2- Taking a sleep
1- Treated below the belt by others
2- Excessive emphasis
Idea Generation Guide
Business intend to get down
The concern that I intend to get down is an online bakeshop which will be selling staff of lifes, toasts, bars, Moon bars and etc through a web site. As people presents are non merely stress on the merchandises but besides the services that can provided by the concern. With on-line web site, clients can put order more easy and convenient without measure into the store. Furthermore, I would besides wish to get down an Internet Technologies ( IT ) concern which supplying service of web design or system and application development. The ground I choose to get down this sort of concern is more and more people or concern are seek for an easier and efficient manner to run their company by utilizing information system and application.
Business non mean to get down
The concern that I do non mean to get down is nomadic phone retail concern as there are a batch of stores available in the market and it is excessively competitory. Low sale is ever the large job of this sort of concern as client has excessively many picks and strong bargaining power. In add-on, fiscal concern is besides out of my consideration as I have no thought about figure and money although it can acquire rich really rapidly. However, purchasing and selling stock can be really hazardous.
Property to give energy
The properties which would stimulate me to get down the concern that I mention in above are be my ain foreman, freedom, friend and household support, country of involvement and big net income. To be my ain foreman allows me to hold more freedom in working as I can do my ain determination and do non necessitate to follow the normal working hr every bit good as I will hold employees to work for me. Besides, holding friend and household support can do me more confident to get down the concern and I can besides seek for aid and thought from them. The most of import is that I can gain a batch of money with my country of involvement and do usage of the cognition and accomplishments that I have. This will do me more passionate in making the concern.
Property to take energy
The properties which would de-energise me to get down the concern that I mention in above are deficiency of money and experience. To get down a concern decidedly will necessitate the start-up cost, therefore it could be an property that turn me off if I could non happen person as my spouse or invest on my concern. Besides, I do non hold any experience to work on the related concern field and therefore do non cognize how likely the concern flow and operate. In existent instance, there are many concerns near down and ruin merely because of deficiency of experience, hapless direction and fiscal control. All these property would be my consideration and they stop me to get down up a concern.
I would wish to get down my ain concern someday because I can be my ain foreman, have freedom in making thing, earn more money and have better quality of life.
Rank of entrepreneurial journey
I would wish to rank the location is the highest as clients want the merchandise and service to be deliver in a short clip frame and stopping point to where they live. Therefore, I would put more on the location that I chosen. This is because it is really of import for me to develop the schemes to aim the client that I want. The 2nd highest will be capital required. This is because to get down a concern decidedly we need capital to purchase all the machines, ingredients and so on in order to run the concern. Last, I will put on my personal development as it is of import for me to turn so that I will non be obsolete by the market. Since the environment alteration so quickly and hence I have to maintain myself up to day of the month.
Share of $ 1,000
Lifestyle and Work Style
Standard of Living
Status and Prestige
Impact on Ecology and Environment
Other Considerations ( Please province )
( The inside informations of ranking can mention to Attachment 1 )
Analyze Your Personal History
Since I am still analyzing and hence I have no chance and experience to work for a full clip occupation. I have no any portion clip occupation or full clip occupation that provided me fiscal support in the yesteryear. However, I help my parent for place concern during vacation to cut down their load. During that clip, I learned how to cover with clients, communicating accomplishment and charge as I was assisting my parent to selling things in market. For self sweetening, I joined the workshop such as C # and Window 8 workshop which organise by the college to larn new techniques and better my accomplishments. Furthermore, I will travel for going with my parent during leisure clip to increase my cognition and widen my position to see how other ‘s civilization and life manner.
The activity that I had done on my ain is to make a merchandise for the “ Koperasi of SMK Bagan Jaya ” and assist it upgrade to “ Empat Mutiara Koperasi ” . In this activity, I reuse the empty contact lens bottle by filled in coloring material chalk pulverization to do different form such as love form and moving ridge. After that, cover the bottle with ornament paper and dry petal to do it scented every bit good as tied up with a thread. The bottle will so bind up with a cardinal ring to do it as a key concatenation. This key concatenation will merely sell in the “ Koperasi of SMK Bagan Jaya ” . Therefore, the component that would act upon my determination is the cost of making the merchandise. I have to maintain the cost of the merchandise low so that even sell it to pupils in a inexpensive monetary value but I still can be profitable. Throughout this activity I had learned how to be originative and brainstorming in planing a merchandise and how to administer the occupations to the right people during the production. Furthermore, I had learned in puting the acceptable monetary value for a merchandise but doing money and strengthen 3R consciousness to the populace.
In add-on to that, I will transport out some out-of-door athleticss such as hike and cycling with friends to increase the size of my societal web and have a healthier life manner. All these activities make me cognizant of the of import of concerted, communicating, relationship and assisting each other. I besides joined the Penang Bridge Marathon which organized by the authorities every twelvemonth. Runing single until the terminal point make me cognize that ne’er giving up on making something so that I can accomplish my ain end and mark. Besides, I learned to be more brave to take the new challenge. All these activities that I mentioned above aid me in fixing myself to be an enterpriser and get down my ain concern.
If I of all time started a concern, the most I like is the freedom and flexibleness. To be my ain foreman, I can work or suspend the concern at anytime that I do non hold to follow a long list of regulations and ordinances. Furthermore, I have the complete decision-making power and control of the concern. However, the least I like is to bear the debt and losingss. It is non easy to maintain the sale of the concern addition and doing net incomes all the clip and hence there is a possibility of loss.
If I of all time worked for a big company, the most I like is to acquire a well wage and benefits from the company. Working in large company, I can acquire my salary every month no affair the company is loss or do net income. Large company can frequently afford to give much better benefits such as wellness insurance, pension, inducement and etc. Besides, I can hold much more preparation and development chances to larn about new accomplishments such as leading accomplishment, direction accomplishment and hiring accomplishment as large company are more willing to put and concerned on staff development. However, the least I like is the struggle between sections or co-workers as more people work in a large company will probably to hold more struggle comparison to little concerns.
Your “ Business Hero ”
There is one enterpriser or concern hero I have admire him for a really long clip named Kuok He Nian, Robert Kuok while some people called him “ Sugar King ” . He was born on 6 October 1923 in Johor Bahru, Malaysia. He began as an office male child. After he graduated from Raffles College he worked at Mitsubishi for 3 twelvemonth and subsequently he started a concern named Kuok Brothers Sdn Bhd with his two brothers in 1949. In 1961, he bought big sum of sugar with really low monetary value from India before the monetary value shooting up and subsequently he invests to a great extent in sugar refineries. Because of the concern turn really good, he manages to command 80 % of the sugar market in Malaysia and 10 % of universe production every bit good as he won the name of “ Sugar King of Asia ” . After that, he build Shangri-La Hotel in Singapore and continually spread out his concern to the neighbour state such as China, Thailand, Indonesia, Fiji and Australia and his concern range is scope from sugar refineries, finance, hotels, excavation, trading, oil and so on. Now, he was the richest adult male in Malaysia. ( The ranking of richest adult male in Malaysia can mention to Attachment 2. )
( Anon. , n.d. )
The positive trait and feature of Rebert Kuok is morality as he was strongly influence by his female parent and Confusion. His female parent told him to handle people with sincerely and be ethical in making concern. Besides, He is an honest, reasonably, weather, intelligent, act fast, difficult working and a caring individual. “ Take attention of the involvement of others ” is his favored phrase to remind himself ever take attention the benefits of his stockholders and employees. He was of all time commented in an interview that he prefers his concern to do money so that he can pay large fillip and particular inducements to his employees at the terminal of every twelvemonth.
I admire Robert Kuok the most is his finding to be ethical and moral in making concern as there are more and more concern people nowadays uses the illegal manner or unethical method to make their intent. However, he still can lodge to his morality and seek to vie with those rivals who reach their success through unethical mode. I admire him non merely his finding but besides his intelligent and weather plenty in making concern. For case, he was able to see and descry the potency of the sugar concern and weather adequate to take the hazard to set all his money into it which no 1 was in sugar concern at that clip in Malaysia.
From Robert Kuok, I learned to refund back to community, assist the hapless and non to be avaricious about money after I am success. Robert Kuok had donated 50,000,000 CNY to China Youth Fund and donates 900 CNY per each individual to assist the kids who has troubles to finish their surveies. He is a function theoretical account to remind me to be a good individual and do non turn to the evil even after success. Besides, He influences me to be brave plenty to catch chance, difficult working, caring and treated people candidly.
Part II: Profile of the Present:
Analyze Your “ Entrepreneurial Mind ”
The entrepreneurial strengths that I posses are decisiveness, doggedness, subject and entire submergence. After I decide to make something, I will set in my attempt and take action on it. Besides, I will non give up easy in half manner even I face troubles as I believe that committedness and finding is the key of make things success. I besides try to be independent to work out the job by myself foremost before seeking aid from my household or friends and I ever pull off my timely sagely in finishing my plants on clip. Furthermore, I holding a high internal venue of control as I believe that all the effects or results are derive from our ain action. Therefore, anything I do I will bear the effects no affair bad or good. For illustration, acquiring a hapless consequence in test I would non fault others but would fault myself for deficiency of readiness and take it as an experience to actuate myself to work harder.
However, I am deficiency of creativeness and invention to work or develop new thoughts or new things. These will restrict me to remain in front of rival as I may non continuously to come out new merchandises or services to fulfill my client demand and make new income watercourses. Other than that, I have a hapless sense of temper and can non pass on with other utilizing English proficiently. This failing more or less affects me in constructing relationship and increasing the size of my societal web as I do non acquire the gags of others and they may experience tiring when they make gag with me.
( The item ranking can mention to Attachment 3. )
Examine Entrepreneurial Role Requirements
Among all the entrepreneurial function demands, I would rate myself the strongest are moralss and unity. This is because I ever treated people candidly and keep moral rules in all the manner as my function theoretical account Robert Kuok. I am clear on what am I making, what should I make and what should non make. However, I would rate myself the lowest is emphasis. A small spot of emphasis is acceptable but inordinate emphasis would do me insomnia at dark and impact my sleep quality. To pull off my emphasis, I ever have some sweet sweets or transport out some out-of-door activities or travel for a travel.
( The item ranking can mention to Attachment 4. )
Analyze Your Management Competencies.
I would rate myself the strongest is disposal. I am major on Information System ( IS ) and Internet Technology ( IT ) . Therefore, I may utilize the latest engineering and my accomplishments to develop an information system which aid in disposal. Besides, one of the countries of my survey is project direction. Thus, I may utilize my cognition for planning, determination devising and form the resources in order to accomplish a specific end. Furthermore, I would besides rate myself moderate in operation or production as I had worked in Koperasi of SMK Bagan Jaya for 4 old ages. During that clip, I need to refill the stock and set the monetary value for all the letter papers and bites. I besides involved in the production procedure of the key concatenation and therefore I had the experience on the production programming and flow.
However, I would rate myself the weakest in finance and jurisprudence. This is because I have no thought in ciphering Return on Investment ( ROI ) , payback period, hard currency flow and etc. Simple computation of balance and money collected would non be a job for me, but I have no cognition about accounting and funding. Since my survey field is related about information system and hence I merely know some patents and proprietary rights to protect my thought and codification non to be stolen by others but other than these such as contract, revenue enhancement and bankruptcy I have no thought at all. Therefore, I can about state that I have no cognition about jurisprudence.
( The item ranking can mention to Attachment 5. )
Part III: Puting It All Together
At this point, I would reason that I still can non be qualified as an enterpriser yet as I have non started a concern and taking hazard of accomplishing net income. Besides, I still do non hold the necessary features and carry through the demands of enterpriser.
An enterpriser must able to give something such as clip and money to set entire submergence and have long term committedness in order to do his/her concern success. Besides, he/she must energetic and hold strong mental power to manage the work load and work for long hr. Although some of the demands are do tantrum with my ain purposes, value and motive, nevertheless I need to concentrate on my survey in this minute and hence I can non give any clip to run and run a concern. Furthermore, I do non hold any get down up cost to get down a concern as I do non work for any portion clip of full clip occupation to acquire any excess income.
I still have a really long journey to travel comparison to those enterprisers who has achieved success in their concern. They are all those people who have accumulated a batch of experience, work outing a batch of jobs in their concern, holding strong direction competences and meet most of the enterpriser function demands. There are still many things that I have to larn from them in term of accomplishments, techniques, schemes, good attitudes and etc.
If I would to establish or get a higher possible venture in future 5 to 10 old ages, foremost of all I will seek to use occupation on large company to see the manner of how other in runing their concern and addition as much experience as I can to fix me better for my ain concern. At the same clip, I will make analysis on the type of the concern venture that I am traveling to run to analyze all the possible hazard, do research on the market, gauge the cost and benefit to see whether it is executable for me to take the hazard and get down the concern. If it is executable for me to get down the concern, so I will to happen dependable spouses to fall in me.
This appraisal of my entrepreneurial scheme helps me to cognize myself better in term of beginning of energy, strengths, failings, accomplishments possess and etc. In add-on, it let me knows that where should I better myself in order to fix me to go a successful enterpriser in future.
Part V: Thinking Ahead
The end which I wish to carry through by the clip I am 70 is debt free. I hope I can have my ain concerns and a Villa by the seaboard with no mortgages and debt. This is because I do non trust to be an loafer by the clip I am 70. Besides, I wish to wrote and print a book to state my life narratives and portion my ain experiences with others so that at least I leave something to the following coevals in the about terminal of my life no affair I am successful or fail. I besides hope that I had travelled and visited the admirations of the universe as I love going really much.
The end which I wish to carry through over the following four old ages is to acquire my grade in Information System Engineering and graduated with a differentiation consequence. Although it is a hard undertaking but I will seek my best in accomplishing it by seting all my attempt and clip. Furthermore, I wish I can happen a good occupation with a good foreman and friendly co-workers. I besides hope that I am able to do usage of my cognition and accomplishments to assist the company in doing net income every bit good as able to acquire acknowledgment from my employers. Furthermore, I wish to make the top of Mount Kinabalu. Mount Kinabalu is the tallest mountains in South-East Asia which located in Sabah. I hope that I had accomplished this challenge by the clip of 25 twelvemonth old.
If I merely have precisely one twelvemonth from today to populate, I hope that I can assist the people who are enduring and in demand every bit much as possible. I would wish to be a voluntary to convey felicity and assist the orphans and the senior citizens in nursing house. This is the lone thing that I can make to give back to society before terminal of my life. Besides, I will pass my clip with my household members. This is because I am off from place due to farther my survey and hence there is merely small clip or merely semester interruption I can remain with them. Furthermore, I would wish to seek the things that I ne’er try before and make bold non to seek it so that I will non experience regret in the terminal of my life.
The end that I would wish accomplish over my life clip is maintain a healthy organic structure including mental and physical wellness so that I can populate longer and hold adequate clip and energy to accomplish all my ends. Besides, I would wish to get down my concern and gain a million dollar in my life clip. Merely taking but non hiting the mark will non do me success. Therefore, I would wish to take the challenge of being my ain foreman at least one time. Other than that, I would wish to assist the people in demands to better and heighten their lives. As this is non merely the societal duty of a concern but besides the duties of all of us. I would rate the highest precedence of the end is to maintain a healthy organic structure followed by gaining a million dollars and better other lives. With a healthy organic structure, I merely can hold adequate energy to travel in front toward my mark and aid as more people as I can.
To maintain my organic structure wellness and good map, I must good plenty to command myself in eating debris nutrients although they are so attractive to me and delightful. First of all, I must hold a balanced diet to do certain I am eating the right nutrient in the right proportions. Following, I must exert and hold organic structure look into on a regular basis in instance any illness I can detect and bring around it earlier. Besides, I must besides pull off my emphasis to maintain both mental and physical wellness. In order to get down up a concern, I might confront insufficient of money, experience and cognition. Therefore, foremost of all I would necessitate to finish my grade and progress sheepskin in TAR College to larn the theoretically cognition and practical accomplishments. Second, I will seek to work for different companies to spread out my occupation range and addition experiences every bit good as observe how other in making their concern. Last, I would wish to happen a few dependable and responsible spouses to fall in me and put on the concern so that I can hold adequate resources to get down up the concern. In order to assist other in bettering their lives, I will affect myself in some charity establishment, to be a voluntary and make some contribution based on my ability.
There are a few of measurings to do certain I am achieving toward the ends. Level of cholesterin, blood force per unit area, blood glucose, organic structure weight and all the organic structure cheque consequences will be the measurings of whether I am exercise on a regular basis and good equilibrate diet. Besides, scrutiny consequence and CGPA will be the measurings of how much of cognition and accomplishments I learned in college. Following, acknowledgment of employers, publicity and wage will be the measuring of the how much experience I gain. All these of measurings will assist me to look into whether I am on the right path or on the manner to accomplish my ain ends.
Throughout this appraisal, I would wish to reason that I would necessitate to better myself in emphasis direction as a successful enterpriser must be able to manage their emphasis and turn it as a force of motive. Besides, I am lack of experience and therefore I need to derive more experience through working or reading the life of those successful concern adult male in order to larn how they being successful in their life, runing their concern and even how they solve their obstructions intelligently. Furthermore, I would necessitate to increase the cognition about funding and jurisprudence so that I can pull off my concern capitals more sagely, be legal and ethical in making concern every bit good as cognize how to protect myself and my assets.