Module no: U58005
Module name: Creating Entrepreneur Organization
Tutor: Christopher Harlow
Student no: 14079273
Student name: Souksavanh KEOCHAMPA (Toto)
Entrepreneurial attributes and development needs within different contexts past, present and future
Entrepreneur is the person who creates, organizes, manages, operates and brave to take risks on business because starting the business venture is challenging to most of the new entrepreneurs (Thefreedictionary, 2012). Moreover, almost 90% of entrepreneur in the world have to plan carefully before establishing their enterprise and to foresee the reasons that would lead their business to fail. Therefore, creating an entrepreneur organization is not an easy practice and recruiting the right people to work for the organization is even more challenging for entrepreneurs. For example, some organizations might recruit people based on performance on particular skills and the others companies recruit people who have various skills. Thus, creating entrepreneurial organization is an essential factor to new entrepreneur because; both old and young entrepreneurs need to think on what they have done, what they are doing and also what they are going to do in the future. This essay will examine various entrepreneurial attributes and development needs within different contexts past, present and future.
There are many characteristics of entrepreneurial which are the main principal of the company or enterprise should have. Firstly, the most important attribute is “vision” in this case means optimistic vision, as new entrepreneurs optimistic is the main principal to believe in what they expected to achieve on their main aim or goals which have been set and that in turn requires vision (Tschiesche,2013). For instance, if entrepreneurs are seeing the possibility and opportunity to get a new project on their career they have to be optimistic which means they are sure that they will complete the project perfectly. Moreover, visions for entrepreneurs may need inspiration from their family and friends because these people are very important to support them when they face some issues with financial circumstance or physical.
Secondly, entrepreneur should be “creativity” to create the new things. These creativity people should coming up innovative ideas or the new strategies to expand their businesses such as expanding on marketing sector or making wider networks to gain more number of customers.(Goltz,2012). For instance, retailer shop like Zara they expand their marketing and expand their branch worldwide to get more clients. Furthermore, they also produce the fashionable clothes, which changes every season and depends on fashion in each continents. For instance, in Asia they make sizes which are suitable for Asian people and in the Europe continent especially on winter seasons they designed various kind of coats or jackets which make their selling point increased (Fan and Lopez,2009). Furthermore, entrepreneur requires “Team Builder”, in organization a person should be considering as a team builder because it may lead his or her company efficiency and growth your company’s reputation. Also, in order to be successful company employers should create a groups, teams and network of potential employees who have good performance in each department and inspire them or give them some rewards if could help the company to reach goals and build a relationship between their company and others (Huntley, 2013). Jack Welch, American business executive, author, Chemical engineer and CEO General Electric assert, “Before you are a leader, success is about growing yourself. When you become a leader, success is about growing the others” (tendency.com, no date), which means if they are creating their successful enterprise they should have to create their team in the organization to help the company to run businesses as well.