In this paper we will be discussing about the facts and details how we can go through assessing Entrepreneur ship and its management capabilities. In this fast paced world getting a work has been herculean task, Becoz there is wide increase job position variants. Any individual can find out his interest of work as without concerning to going with herd principle. When developing career one needs to think how good he put his skills and abilities to good use and what are the changes he wants to make in current social situations should be though of. In this paper we try to develop a career goal in entrepreneur ship, this words leads a different tone these days. Due various kinds of economic opportunities .one can think of greater possibilities in bringing better coordination and methodology in new things.
As we go through above factors of becoming an Entrepreneur, one needs to think in form of new things in present market scenario. The things which are already defined by big companies can be outdone by providing some new profitability options such as technological trends i.e of software and networking capabilities in existing one. The other thing is maintaining opportunities system of working. Its like looking for new of taking business capabilities or creating new source of service how it can profit both the producer and the end users.
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As an entrepreneur it needed to have a defined path, if there is a possibility of going the extra mile is taking up the risk in maintaining the product growth at initial stages .It also means taking up responsibilities for owning and achieving target growth in his product growth. Utilizing resource in better way and then maintaining socio-economic downturns. The other major point in developing the entrepreneur is developing strategy for financial planning and utilization of monetary resource to the facilities which is best in need. Taking calculated risk procedures, considering things which are need of product development, Calculating profit and gain margin depending upon the years of continuing business profits.
The other major factor which can make up is sustenance of the product in market. It means the product which has creatively implemented should be able to handle in best way and capacities. While accustoming these greater level of preservance is needed in time of socio economic downturn .Maintaining patience is aspect where everything can work out in smooth way. These are some of the basic consideration in taking up entrepreneur study .But; In this essay we try to figure out what is necessities of Entrepreneur ship. It capabilities and other techniques we can find out for better organizational growth. In this we set our career goal in making these things happen for better business handling and getting profit at nominal level depending upon the financial resource which we utilize for better sustenance of business. In setting up entrepreneur business ship to ,one need to careful and careful study ha s to ne taken. This entrepreneur ship is the basis of competent and having capabilities and proceed better performance.
We can say that components which can jointly provide a person's competence level. Are his wants which needs to fulfilled and being, Capable to, and Knowledge are all important for competence behavior.
The other things which majorly affect the details are Motivation, character, knowledgeable nature. We would explain of the individual components briefly.
Motivation: it deals with everything which reveals every individual wants to be addressed. It also defines what really a man expects from other person criteria and what benefits on taking up the responses .It has to do with ambition that an individual utilize these resources and having motives and values in each individual. There lies a difference in someone having a great deal of knowledge for a particular task and capabilities to perform in him is lacking. In an individual the zeal of setting up an business lies in between push and pull factors .In a push factor, an individual is pushed into things without him having a clear knowledge .where as the pull factor can be known as process in which individual works out for better aspect in new dimension of business.
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Character: It's another component of competence which makes out an individual outlook or behavior is taken in account. These traits can make up whether people are more or less capable of taking entrepreneurship. There are various kinds of characteristic mentioning of these traits. They can be said as need for achievement, internal focus, control of risk and taking prosperity. We can also term these characteristic as power, ambiguity towards tolerance, endurance and need for affiliation. We can say that on making up a survey an average of successful entrepreneurs score higher on characteristics which don't have successful business of their own. The other three internally driven facts or motives define or can be viewed as motivation for business ownership.
Capabilities: It some what differ with that of the character which we have discussed in above paragraph. It can be seen as more or less a fact or neither easy to change or learn. Its capabilities are easier to change and as per various authors it is identified capabilities are contributing for the success of an entrepreneur. Capabilities have been more or less related to phases of a company, company life cycle, and further divided into groups which may be termed as the early phase capabilities, mature phase capabilities. We can say early phase capabilities as Market orientation, Creativity and flexibility.In mature phase we have the qualities like Leadership, Organizing and Planning, Motivating and Financial Controlling.
Knowledge: It is component which test competence of entrepreneur or the individual who wants to set up a business on defined level .We can say knowledge as the more rational part of entrpreneurship which knows the rules of administration and principles of marketing and difference between debit and credit .But, The major thing in setting up experience provides a greater knowledge of facts.
As discusses in capabilities there has been a lot of research by various authors and they have formulated a model which has the dimensions of personality. Sine early eighties this model has been considered as the reliable indicator for personality .In this every dimension is considered as the continuation for a personality. These dimensions are of five kinds and we term them as the Big Five Factor Model. The dimension is:
Extraversion: it deals with energy concentration in one direction and oriented towards it. In these there are further energy concentration effects which are Introversion which direct energy inwards and extraversion which are directed outwards.
Emotional Stability: It deals with indication of offering resistance to stress and tension free .These capabilities range from variables of instability to stability.
Altruism: It deals with individual orientation of energy towards his experiences, interest and goals for others. We can say range of this would be self centered to altruistic.
Openness: It is the willingness of an individual who can or who is open to new occurrences and taking then as example .there particularly reserved to open.
Conscientiousness: it mainly deprecates the way an individual works out for better on one conscience. These may range from undisciplined to discipline.
As in above we have discussed various details regarding the prospect of entrepreneurship, we would consider some of the basic steps in taking up these methodologies at personal level point of view. Individually personal level viewing of entrepreneurship is source of maintaining good resource handling and maintenance of financial. I hereby share some personal viewpoint on entrepreneurship capabilities which are gained by academic learning.
Vision of My entrepreneurial skills:
Being an entrepreneur which normally not every one think of, there will be different view point which I have given of various authors who have done a lot research on this. In thinking of becoming an entrepreneur one has to think beyond his capabilities. Similar to this I have interest in making up business which can lead up to profit gain at the service level. The main idea of taking up this entrepreneurship as career goal is my capability to take up challenges and liberty of taking up responsibilities and being accountable of work which I need to do for success of mine idea on particular product working. I know that taking entrepreneurship is mere career risk. Risk of loosing finance or if business runs for not getting the required output at particular time and decisions which I take without basic thought. As an entrepreneur I need to have clear point of view what are the requirement and necessities which need to be taken up in this criteria. It's the inner zeal in me which had made to work out better strategy for the entrepreneurship
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The task or business which I need to setup is of consulting of product over all structure and it feedback to companies. The reason I took this business setup is, It gives me an opportunity for me to grab all attention of companies who want to have there product base technology get updated but doesn't know the end user point of view. I can say am an indirect mediator to the consumer who really enjoys the product or not. It need to be find out .I take up details study for this at market level and give a clear feedback to the company management which are needed for the structure.
These flow gives companies a greater profit level as he has not go through marketing statistics or survey finding to get required results .Companies solely depends on my overview of market take ,what are the benefits of the product. I can provide feedback to them so that they can able to changes to present level product, so that they can provide competitive edge over other companies. There is no benefit of doubt for companies as I can provide real facts what really happening in marker and where the company sales are going can be known. I work as a private entity where I can liberal view and doesn't confide with other companies and formulate an agreement with other companies. This is my level of consulting business capabilities which can be brought out for my entrepreneurship model of business. The amount of investment in these would be less and factors of loss and gain would be minimal.
Key Aspect in maintaining entrepreneur capabilities:
To explain detail on the aspect on how I was able to maintain or come to know entrepreneur capabilities is with my past experience in communication company named AT&T .In that I worked as an Technical executive in which I need to deal customer basic issue of technical faults. In this position I was able to analyze and find out that customer aren't really able to clearly define what is to be done when equipment doesn't work. The level of informing and steps didn't suit to customers, they were suggesting for further simper procedures in taking up further changes to the equipment. When I further migrated to supervisor division in the company, I came to know there is a large wide gap between customers point of asking to addressing the issue and company view of taking its. Then I thought of gap has to be decreased further. As company aspect if we consider there try to consider changes but lags in fully containing it.
In this scenario, With the experience which I got in company and at personal level of mine there was a zeal to accomplish things which can make things easier .So, I thought of started of consulting firm named as "technology consulting" with main vision and mission is to get gap between companies and the end user to a narrow view level.
Making it Distinctive:
The model which I discussed is distinctive one and there been other model which is of in software life cycle management. But, this consulting level is totally on company's level. Other main distinctive of this business, I opted for all field level companies not sticking to a particular type industry. This made me set apart from other market readers.
When I try to setup a business, I know making a proposal business which needs to forward to companies is quite different. I need to present each company my level of applying skills and knowledge of particular product they are dealing with. These creating of opportunities can be further referred as the mapping of opportunities. I had taken help of network of friends who forwarded my proposals to there company heads. In this way, I started of my marketing my business. As discussed above I had to differ from other survey analysis companies, what different details I provide and what effect it can further have to the company's target. Even I was naÃ¯ve I need to be more of person with capabilities of doing things in right perspective and providing it instantly depending upon there needs. In academic terms we can define opportunity base upon some of the key terms which is called as the DIFA model. It means Demand, Innovation, Feasibility, and Attraction. In this demand for me can be viewed as the potential need for an organization to work on it product up gradation and which ne to achieve higher sales target .In terms of Innovation we can define giving information or suggesting company to take up new innovative methods in getting products with cheaper price and new easy durable options. In terms of Feasibility I can able to tell companies where the product can really take on kind of resources there are incorporating in the product and at last is the Attractive ness, it is the main part in any product which can reach end user. The presentation of the product can be reviewed with people within my reach. As, I have strong networking connection with colleagues and other companies executive. I can able to give companies nice suggestion in bringing the product in manner such that it covers all the ethnic region people.
For an entrepreneur, it is not easy task to get resources of company product information. It will be tough task for me or any entrepreneur who wants to get in hand resources. There should be lot of patience, preservance on part an entrepreneur in gaining the information. In this I as an entrepreneur need to take up challenging task in accordance to meet company needs. By doing these I can able to maintain a comfortable position in the market.
Last year we have seen a dramatic or worst case of handling of finance in wrong way. The companies which are established for there standards have crashed out in credit crisis. The other factor also was undue increase in the entrepreneur setting up. Individuals were looking of growth at faster pace without checking what segment of market they need to concentrate and not going to facts of customer need and innovative means. So, Entrepreneurs has to be more collective and resource oriented and not thinks of personal monetary level. The other major aspect of entrepreneurs is to maintain a balance of communication with governmental and private organization structure .So, that It may not hinder economic opportunities at wider spectrum.
Mostly, Entrepreneurs are more vigilant or can say give utmost preference when setting up the business model. There may be situations when entrepreneur calculations going haywire which leads to its loss of business. In regard to this, I tried to invest my business model from the internet café where there valuable investment per day is less than setting up a service at home. This is becoz at earlier stages, I was new to market segment of work .Companies who tried to take service were of small resources. I took it as an opportunity and helped them in bringing out better service and expand it over large segment of market. By taking there reference slowly I was able to cover companies of different levels .Depending upon change in situations and demands I have set up my own office and infrastructure and developed it in manner which was proportional to the companies I was working with .
Things an individual should concentrate when think of taking up Entrepreneurship:
For any individual who thinks of taking up Entrepreneurship mainly concentrate on his abilities in taking up challenging situation and being aggressive in achieving the set target by himself. I can say that an individual should have more of outgoing nature capability of taking up work of various fields and if else not acquainted learning things as it comes. Entrepreneur should be a constant learner. Individual has to constantly look for small opportunities in social scenario where customer faces the issue and he needs to take that problem find out a solution. The solution can be a technology one or physical one. Individual has to constantly look for mapping opportunities by looking on defined model of needs, application and flexibility of the end user or the company.
Mainly, As an entrepreneur one has to see changes in the management. I have followed this procedure as personal reflection of work as Entrepreneur. I was ready for new task and learning things and capabilities for better growth of my business. In an Individual should have the qualities of go getter and just do it, being solo. I was able to cope with all stressful situation where work or finding as resource was difficult. I overcame these barriers and was able to achieve the set target which I set for myself. I was able to overcome internal and external barrier at social level. As people would think it different when an individual says want to be an entrepreneur. As we know we get know more of negativity instead of positivity in this sphere. Individually I kept my positive frame of mind and achieved what I have set my goal.
These facts of entrepreneur can be taught to graduate who are passing out, supporting then with theories and also personally inviting entrepreneurs to universities or colleges to share there view and methods they followed in setting up a business. These teaching give graduates a strong base or good career option. There is also a fact that entrepreneur learning been a merely a eyewash in some way the other, it doesn't become an individual who an entrepreneur an publicity for his business.It should impact graduates in taking bold steps towards this career option. I have taken seminars in colleges as an entrepreneur was more inclined in brining students together and giving them task and make them do it on the spot. These program made graduates more interested towards the entrepreneurship capabilities and skills which is required and what are the real world facts which has to be taken care.
The man aspect of my taking up seminars on entrepreneurship mainly concentrated on how we can maintain finance ,what are all the steps need to taken up in setting up business model.I also explained them about to concentrate on product and the market in which it gives profit. Without proper understanding these things would backfire prospects of being an entrepreneur. Hence, to be entrepreneur proper check and clarity in mind of what need to be done, where it needs to be done should be calculated. Most of the time entrepreneurs are the persons who are optimist and who look for every small opportunity to make it big. Past year was great experience for an entrepreneur likes me and other how to set up finance utilize it in business framework without change in loss or gain ratio. Hence entrepreneurship is always a field of new things or getting old thing in new way by utilizing varied opportunities in better way.
There would be no conclusion in describing entrepreneurship as it is the vast one. Learning of Entrepreneurship will not come by mere studying of theories but also practical knowing them from established entrepreneurs who took up a lot of zeal in gaining profit in that. I can say that for an individual to be an entrepreneur learning is major aspect he has to do with. Applying his key skills and capabilities at right places will make him prosper in his business model. I applied theories practically it in setting up consulting firm, which gave me an added advantage of knowing underline facts of the business system. Career as an entrepreneur can be a task which needs to be completed, within set time and work for better financial growth.