Entrepreneurial Strategy Exercise

Entrepreneurial Strategy Exercise

Entrepreneurial Strategy Exercise

Entrepreneurship is something in life I look at as a great accomplishment. A person can create a company out of an idea they have in their mind and by pursuing this idea through all the challenges and hardships that might be encountered, produce something, that to some is just a fleeting dream. Creating a productive company is a major sign of success and determination.

After taking the Personal Entrepreneurial Strategy Exercise in chapter one, I have realized strengths and weaknesses that I had not noticed before. In the commitment and determination, my strengths were shown to be very high except for my decisiveness, which was a bit low. In creativity, self reliance, and ability to adapt, I ranked high with the exception of my lack of fear in failing. In my motivation to excel, I ranked as moderate to high, as was my assessment in leadership and accommodation to venture. I have always had a fear in failing at whatever I start, even though I usually succeed. My leadership has always been a strong point of mine as well as taking on new ventures. My ethics, integrity, and values have always been in the lead of everything I approached. Marketing and operations are a very strong point as this was a major part of working with several Golden Corrals. Financing is an always has been a major weakness of mine due to the fact that I do not like to work with money or math, however, I am training myself to become a little more confident in this area. The other weakness that I must work on is my patience. This is an area I have always had to improve on.

There are many areas which I need to make improvements. I have set several goals that I feel need achieving to aid me in becoming a better entrepreneur. Among these are continuing my education in order to improve my knowledge of business operations and management. A second goal I have made is to involve myself more in the finance portion of business so I may become more comfortable with handling money and financial papers. And still a third goal is to read more articles on self improvement in order to become more confident in my actions and decisions.

Concerning globalization, my company (D-TECH) is already working in this environment, however, I have realized that the world market is always changing, therefore, one must stay on top of all these changes in order to keep up with the competition and remain profitable.

References

Spinelli, S., & Timmons, J. (2007). New venture creation entrepreneurship for the 21st century. New York: McGraw-Hill/Irwin.