Free Essay: Development of My Entrepreneurial Capabilities and Future Planned Goals

Entrepreneurship is not just simply beginning a new organization. Entrepreneurial administration might be viewed as a method of administration not quite the same as conventional administration (Carsrud and Brannback, 2007 p.34). An individuals enterprise mirrors the recognized character and conduct which give the support to small and medium organizations for business advancement (Chea, 2009 p.99). A business person assumes a crucial role in building a solid nation state which drives several enterprises. In the period of instability, business people can work for building up the social orders and change the enterprises. The supporting approach is perceived that for building entrepreneurial capacities among the general population (Chea, 2009 p.100). This procedure in not created from the nothingness, but rather it gives the mindfulness to the private venture groups situated in the environment. The enterprise idea being viewed as the procedure by which people, either all alone or inside associations, seek after opportunities (Carsrud and Brannback, 2007 p.36). As a masters student in the field of business, I also have a passion for entrepreneurship and looking forward to starting and managing my own business shortly. With the skills that I have been equipped with, I have a passion for becoming an entrepreneur and exploring the business world. The core focus of this paper is to discuss and analyze my self-evaluation; my goals as an entrepreneur, the skills that I need to develop so as to achieve my goals and the action plan of my actions over text next three years.

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Self Assessment

Criteria Score out of 7 Explanation

Ability to see opportunities in problems 5 I try to look for opportunities from the problem at hand. For instance, I came up with my business idea after I noted that most people find cooking a difficult activity. I am committed to starting an institution where students are taught how to cook The area where I fail in this is that there are some problems that are too extreme for me to identify an opportunity in them.

Ability to take initiatives 7 I am a creative individual who always search for more effective approaches and new solutions to problems. I focus on my strengths so as to realize my goals and believe in faking it till I make it.

Ability to analyze data quickly 4 Despite the fact that I can analyze data quickly, there are some that can take me several days before I can get to understand and analyze them. This is a minimal percentage though.

Activity to think creatively 6 This score is contributed by my passion to always look for new initiatives and solutions to problem at hand as well as being always in the search of new opportunities in the field of business

Being forward looking 7 I always have a nature of focusing on the future. I spent most of my time trying to think of what to do so as to reach my need of self-actualization in the future and achieve all my goals and desires.

Being optimistic 4 Despite the fact that I can take things positively, I am at times fearful and find myself being pessimistic about the results and consequences of my actions.

Sense of ownership [of events] 6 I like being in ownership and responsible for something since it enhances my spirit of commitment. I sometimes find myself being lazy, though in very few occasions.

Determined to be independent 5 I believe that being able to own a business will reduce my capacity to depend on other people, say for support and even employment. This is the reason why I am working for it.

Capacity to make judgments on the basis of limited information 4 I always need sufficient information about something I am handling so as to be able to draw a conclusion and make judgment. I always try to use the little information available, I fail sometimes.

Ability to persuade others 4 When the party in question shows some attention at least, I go ahead and persuade them to do what I wanted them to do. I tend to give up easily when persuading someone and when there is evident that they are not likely to give in to my persuasion.

Ability to use social networks for career advantage 7 I am always busy in the online networks during my free time searching for the opportunities, advices and trends that can help me build my career.

Can control own destiny 5 I am able to take control of my own destiny, the only thing is that I allow myself to have a room to listen to other peoples opinions, especially my family, friends and career advisors.

Capacity to work independently 5 I mostly do my activities and projects alone, though at times I ask for assistance if need be.

Imaginative use of knowledge 5 I try to use the knowledge I have gained, either through reading or working practically.

Desire to see things through 6 I am passionate for achieving my desires and goals.

Manage projects holistically 6 When I am entrusted to some project or have one of my own, I make sure that I manage it well so as to be able to ascertain the cause of a failure in case the project fails in one way or another.

Having lots of ideas 7 I am an idea maniac who does not run short of ideas. I think my expansive reading and spending time online have contributed a lot to this.

Strong orientation to achieve 6 What drives me to work hard and smart is my desire to achieve something that goes in line with my goals and desires.

My Goals

In the next three years, I should have acquired a master degree from Jazan University. I will have acquainted myself with substantial knowledge about interior design and nutrition. Because of the experience gained, I will start a restaurant and cafe businesses. People can pop in the restaurant and eat delicious and healthy meals that are served in a very attractive way and affordable prices. It will also ensure that the meals served to meet all the customers needs and expectations and come in various varieties. The cafe will enable students to carry out their internet searches at a very affordable rate. All the computers will be installed with a fast and reliable internet connection. There will be printers, scanners, and photocopiers to ensure that all the services needed by the students are availed.

In ten years time from now, I want to have achieved my dream of finishing my Ph.D. studies. I also want to have been able to establish many restaurants across the country. Also, I will have established an institution that offers training on how to cook, catering and nutrition being the main courses. Here, students will gain skills about cooking as well as teaching themselves what they already know. I will mainly deal with the international food schools. This achievement will be employment creating since the students that perform well will be employed in the schools and the restaurants that I will have opened. Last but not least, I see myself be having a family in the next ten years with two kids, most preferably a girl and a boy.

Skills that will enhance the Development of My Goal

Optimism, Persuasiveness, and Timeliness

To be able to achieve my set goals within the set time, the paramount thing is that I need to be optimistic in everything that I do. This will cultivate my psyche of working hard hence enabling me to meet my set goals. My skills of persuasion should also improve so that I can be able to persuade the parties that will help me to work smart. Anytime I get a brilliant idea; I should go ahead and speak it out, telling the rest of my team of how it is important. This achievement will help improve my skill of being self-promotional. Also, when handling any project, I should be able to collect and analyze the required data quickly so as to avoid delay in meeting my goals. It also calls to being able to make my judgments using the available information.

Independence

Considering every opportunity that is available will also be of great importance to me. The ability to do this will also assist me in seeing opportunities in place of problems. Thus, my actions will not only be to look for solutions to the problems but to invest on them as well. Additionally, I should improve on being independent so as to avoid being misled by other people who may be aiming at discouraging me. By doing this, it will make me able to control my destiny well and also use the knowledge that I have gained exhaustively. Also, I should go for something I believe in despite other peoples criticism, since many entrepreneurs, whose undertakings were initially seen as failures have succeeded (Chea, 2009 p.112).

Passion and creativity

To be able to achieve my goals at my set time, it means that I should be excellent in my creativity. This skill of creativity calls for refining my abilities always and tackling any new skill (Plummer, Haynie and Godesiabois, 2007 p.369). It will as well give me the knowledge and confidence to show more initiative in any project that I will have to undertake. Also, I should also take full responsibility for all the projects that will arise to avoid blaming others in case there is a failure, have a strong passion for success as well as a strong orientation to achieve. Also, I should build invest on my ability to implement the tasks I will be working on perfectly as well as being effective at work.

Action plan

Objective Action Timeframe

Develop action groups for the major area of starting the businesses. The groups will be in charge of the other objectives listed below. Began effort at October 10, 2016 3 months

Identify all the potential and current resources including all the expenses and how they will be funded. Develop a reporting system that includes the accomplishment factors 3 months

Define the needs, problem and opportunities of the key projects.

Come up with a research question and outreach activities. Identify the shareholders, team members and the chairperson.

Development of the action plans that will promote outreach and research activities. 6 months

Come up with an assessment method to measure the effectiveness. To be measured by documenting the actions and accomplishment of the first objective. 2 years

Starting a business is an activity that requires a total commitment of the entrepreneur. Apart from the acquiring of all the necessary resources, the business owner together with the shareholders should prepare themselves well so as to handle all the projects that will ensure an excellent running of the firm. There are favourable skills that I must equip myself with so as to ensure the smooth functioning of all the projects. To achieve all my other goals within the set timeframe, I should also be dedicated enough. For instance, being able to finish my studies will call for my diligence in attending to all my assignments, coursework and class projects. Also, being able to have the family I desire within the ten years, I should take action as soon as possible. To sum up, any goal that needs to be achieved in some future requires planning, hard work, commitment, preparedness as well as getting all the resources that are necessary.

Reference List

Chea, A. (2009). Entrepreneurial Venture Creation: The Application of Pattern Identification Theory to the Entrepreneurial Opportunity-Identification Process. IJBM, 3(2).

Carsrud, A. and Brannback, M. (2007). Entrepreneurship. Westport, Conn.: Greenwood Press.

Plummer, L., Haynie, J. and Godesiabois, J. (2007). An Essay on the Origins of Entrepreneurial Opportunity. Small Business Economics, 28(4), pp.363-379.