Principles of Management Entrepreneurship Homework
Consider an entrepreneur you know; could be a relative, friend, or acquaintance. Answer the following questions:
- What business is the entrepreneur in? What event prompted the entrepreneur to enter his/her business? What motivated the entrepreneur to enter business?
- In class, we discussed several entrepreneur types. For each type discussed in class, determine if the entrepreneur represents that type – and explain why or why not.
- Consider the entrepreneur success traits that we discussed in class. Identify if the entrepreneur possesses each success trait discussed in class. In what ways does the entrepreneur demonstrate having, or not having, each trait?
- Do you predict success or failure for the entrepreneur’s current business venture? Considering environmental factors, the entrepreneur’s success traits (from our discussion), and strategy, why do you predict success or failure?
- Typed, 1 single spacedInclude questions (answer on this document if you like)
Number your answers
Grammar and writing could affect grade.
Bullet points are not acceptable. Write in paragraph from
Due at the beginning of the class period. No exceptions.
You might bring an extra copy with you as we’ll discuss briefly in class.
I want the business to be shell gas stations
Section 1
Many people tend to fear venturing into business dealing with petroleum products as a result of stiff competition. When my brother decided to venture into this business, many people including my parents discouraged him citing the completion and the increase in fuel prices, which eventually led to an increase in food items. However, my brother’s determination was so great that he decided to go on despite the many discouragements from our relatives and decided to open Shell Gas Station. Having done a degree course in Business management, he was sure to apply the entrepreneurial skills in curbing the challenges that would come his way. With just a start-up capital of $20,000, he opened the gas station in our local town, which tends to house very many industries and offices. Besides this, the town is served with several transport networks such as railway, air and road transport (Ucbasaran, 2008).
There are several factors that led my brother into venturing into this business. One was based on his high creativity levels. He was very creative especially in the field or arts, where he easily came up with ways of convincing people. Whenever he had any issue with my parents, he would convince them very easily and ended up being forgiven. This creativity………………..
