University of the People
Assignment Unit 3
BUS 3303 Entrepreneurship, Unit 3
Apr 28th, 2016
Well to me it depends on the mind-set of an individual, his/her innate abilities and capabilities. I myself broadly classify entrepreneurs into two types, The Inventors (those who with their discrete and genius intellect pioneer goods and services that never existed) and the Innovators (take existing idea and innovate it with their brilliance). It is the category that defines the set of skills, traits and characteristics suited to that entrepreneur. For example the first type of entrepreneurs i.e. Inventors are revolutionary blended with growth orientation. They want to revolutionize the market or industry and grow at some rate so that their product becomes a necessity e.g. Thomas Edison, While on the other hand
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The Entrepreneur:-
The entrepreneur I chose and researched is Mr. Elon musk who is a Canadian- American serial entrepreneur, Pioneered some all-time great state of the art companies like Paypal (Worldwide online payment system – sold to eBay in 2002), SpaceX (Aerospace manufacturer and transport company), SolarCity (Energy solution provider), OpenAI (NFP AI research company) and Tesla Motors (Electric (cell powered) automobile manufacturer) conceptualized brilliant ideas like Hyperloop (High speed transportation system) and proposed a VTOL supersonic jet aircraft which he named Musk electric jet.
Characteristics and Traits:-
Well definitely Elon can easily be classified as both a revolutionary and growth entrepreneur. When he introduced Paypal it was a revolutionary online transactions system and soon it
Tim requested that another employee in the accounting department that had an excellent head on his shoulders, and would be a great help to him with the project management roles. However, that employees current supervisor did not seem interested letting the good employee go for the good of the company, but rather keep the employee put to satisfy the need of his own personal departmental needs. Phil, as the director of project management, could have made it possible for the reallocation of resources and allowed the accounting personnel to be available to work with Tim on the project management task. However, he chose to not to. Instead he only expand on his previous comment about the experience levels of his staff and suggests that Tim come with some new ways to motive his mature staff into wanting the program to be a success. But,
My entrepreneur that I have chosen is my brother Justin McEwen. He was born and raised in Las Vegas, Nevada and that is currently where he resides. He started his career in the construction field when he was 22 years old. Over the years, he worked he way up to be Vice President of Construction of a large construction company.
1.Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organizations goods or services.TrueFalse 2.Often, the collective success or failure of companies operations functions will impact the ability of a nation to compete with other nations.TrueFalse 3. An example of a strategic operations management decision is the choice of where to locate.TrueFalse 4. An example of an operational operations management decision is inventory level management.TrueFalse 5. Global teams provide diversity while eliminating conflicts and miscommunication.TrueFalse 6. A House of Quality is achieved when no department in a single location has more than 15 rejects.TrueFalse 7. The term capacity refers to the
What do entrepreneurs do that distinguishes them from any other person involved in business? Why is it that personality characteristics may be good predictors of who will be a successful entrepreneur?
Some dictionaries define an entrepreneur as “a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population,” and it originates from “entreprendre” in French which means “to undertake”(A Definition). Others define an entrepreneur as “a person who sets up a business or businesses, taking on financial risks in the hope of profit.”(Definition of Entrepreneur). I believe that it’s not only risk and money that makes an entrepreneur who they are, but it is also about the talent as well as the desire to want to change something in a positive way. I use this definition to decide who is a greater entrepreneur, Dr. Dre or George Washington?
website of the New York Stock Exchange (NYSE.com) and providing a brief summary of each
Steam is the largest software and gaming community hub ever used to distribute video games and related media online. Steam makes up over 75% of all computer game sales and as of 2012 Steam now offers software for music creation, video editing, video game creation, and much more on top of the 3,000 games they have in the ‘cloud’ as well. Steam provides its users, which includes over 75 million people, with automatic content management, an interactive profile, friends, groups, chats, networking, match making and even card trading (Richardson, 2012). Steam also allows users to create their own content through their Steam Workshop.
An Entrepreneur decides his future, time, happiness, duties and a whole lot of others. An Entrepreneur will use his imagination and come up with a way to implement his ideas even when others say it doesn't matter, planning, design, deployment and measurement are all subsequent to research. And, in the beginning of everything is the creation of the core product in its raw form a marketing skill. Most people don't understand that without marketing you do not have a product, or a service or a solution to sell.
Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance, lights up the image of Musk, an inspiring dreamer, and an innovator. Elon Musk is a Silicon Valley entrepreneur and he has the indomitable will to carry off what most others think is impossible while at the same time receiving negative posts on social media. Musk was born in South Africa and is a personality that was certain to thrive in America.
Elon Musk is widely known as one of the best entrepreneurs in our time. That is because of his success in various industries such as automotive, aerospace, solar energy, satellite, financial services, etc.
There are different groups of entrepreneurs, those who talk about their great ideas but never get started or give up at the first obstacle and those who are on an unstoppable quest to get things done.
The term of entrepreneur has been evolved into various definitions, Drucker (1998) defined entrepreneur as individuals who commit to practice innovation systematically, and put their efforts on enhancing social potential or economic of an enterprise. This characteristic also can be found in a team of three Taiwanese young entrepreneurs who have founded a company, Gogolook. They received public praise by the executive chairman of Google due to their innovative call filtering App: Whoscall. The following parts will discussed how the three entrepreneurs put their ideas into practice and how they realised potential business opportunity in a timely manner.
It can negatively impact your bottom line. When I first started my company, I started as a business consulting firm. I had just finished my MBA was working on my PhD in Finance and the finance jobs were gone. So, I started the journey of entrepreneurship. I offered everything I could that I knew financial analysis, marketing plans, business plans, etc. One client asked who did my site I did then they asked if I could do theirs so I started offering websites as a service. But business wasn’t moving like I knew it should. So, I stepped back and looked what was selling the most.
My experience shows that when you have clear goals and objectives then your team knows what they need to focus on better. They know that they are working towards a certain outcome and what needs to be met for them to hit that goal could be finish a certain project for example.
The concept of entrepreneur can be well understood by Dr. APJ Kalam’s portrayal of entrepreneur mentioned below: