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Business Management Question
The following questions are all based on the above Zambrero article published in Australia Unlimited. Basing your arguments on the topics that you have studied in the first five weeks of this unit, write a report addressing the following two questions:
- Entrepreneurs have been identified as having certain traits and characteristics. Discuss the extent to which Zambrero founder Sam prince exemplifies these traits and characteristics. Justify your response with reference to academic sources (e.g. academic journal articles, textbooks, etc.).
- The article clearly outlines what we might consider ‘social entrepreneurship’, whereby an entrepreneur establishes and/or leads an organisation or initiative engaged in social change. Outline three current trends that illustrate the social entrepreneurship movement. Again, you should be looking to use academic sources as the foundation of your review. Wikipedia or web blogs are not considered as ‘sound’ academic sources.
Write up your analysis. This should be in a report format. Here is a suggested structure:
- Executive Summary
- Analysis of Entrepreneur traits/characteristics (ie. linking them to Dr Sam Prince) d. Recent Trends in Social Entrepreneurship
- Appendix (if required)
Submit the report via the Turnitin Submission Link (under Assessment Details on the Blackboard site)…be fully aware of the plagiarism rules in the School; plagiarism will not be tolerated.
The marking criteria for the assignment can be found on the following page. They are published to give you detailed guidelines about the way in which your mark will be calculated. Please read them carefully. Note that they are a guide, not a definitive formula for allocating marks, and no set of criteria can accurately describe every possible assignment. Your final mark will reflect the application of academic judgement by your marker to your whole assignment.
Business Management Solution
The paper endeavors to evaluate the case of Sam Prince based on the incorporation of empirical studies relating to the dimension of entrepreneurship and also relating to the dimension of a social entrepreneur. It aims to identify the different traits that help in defining an entrepreneur while also indicating on the new trends relating to the aspect of social entrepreneurship. The key ideas are dealt with relating to the above aspects while also using the same to evaluate the activities of Sam Prince in the above directions as would be observed from the case.
Analysis of Entrepreneur Traits/Characteristics
The entrepreneurs reflect some essential traits or characteristics that help them to be rightly identified from other people in a larger society. Firstly the entrepreneur is observed to be a person that works with an effective optimistic behavior relating to the different types of business endeavors pursued by the individual. The entrepreneur aims in achieving success and works in a relentless fashion to help in meeting the end goals or objectives. Secondly, the entrepreneur is also observed to be a person that aims in the undertaking of greater risks to help in achieving the end goal. The entrepreneur focuses on formulating strategies that help in countering and managing the impacts of the different risks to thereby help the individual in enhancing needed efficiency in meeting the stated objectives. The third essential trait of an entrepreneur relates to the individual’s eye in seeking and in identifying the right kind of opportunity to excel in the chosen sphere. The entrepreneur is required to rightly identify and thereby grab on an effective opportunity to gain potential success in the long run. Fourthly the entrepreneur is identified to be a person that works with needed perseverance in helping in the achieving of a stated goal or objective (Kumar, 2008). Herein the entrepreneur is observed to work in a systematic and spontaneous fashion by not getting deterred in the face of emerging risks and uncertainties in the business sphere. Fifthly the entrepreneur is also observed to focus on the gaining of needed feedbacks for the actions committed. Working on the feedbacks gained from the different stakeholders contributes in generating a strong footing for the individual to help in meeting the business objectives. In the sixth case, the entrepreneur is also identified to be a person that aims to work in an independent fashion. The entrepreneur working in an independent fashion aims in generating employment opportunities for others in the greater society. Seventhly the entrepreneur is also required to work with needed flexibility such that the entrepreneur’s actions tend to address the modifications or changes emerging in the external business sphere. Eighthly the entrepreneur being a risk taker also acts as an effective business leader that aims in motivating the staffs and employees to help in achieving of end goals. In the ninth case, the entrepreneur is required to be a person that aims in taking decisions in a cool and stress-free manner though passing through suffering from increased physical and emotional stress (Nicholls, 2006). Tenthly the entrepreneur is required to work in a creative and innovative fashion to help in generating novel and creative business ideas to generate greater efficiency and profitability. The entrepreneur in the eleventh case is required to pursue an effective vision that serves in guiding the individual to achieve needed objectives. Finally, in the twelfth case, the entrepreneur is also required to work in the building of effective teams of co-workers such that the same works in a collaborative fashion in the meeting of common business objectives (URQUHART-BROWN, 2008).