Insight Into Entrepreneural Failure

Have you ever failed in your life just once? Did that effect you in the sense of which you should being in the right track? The majority of people think that failure is the indication to improperly way of doing the things. Nevertheless, without failure taking place in our life, people were not getting to the evolution and modern science which facilitated human life in all aspects. Failure often makes unpleasant journey or spirit to the people but, it helps in the way to change and create magnificent success that would never thought about. Although that people have ideas and ambition to be successful, failure plays a significant role in their ability to achieve success.

that takes the risk in order to succeed. They are also the ones that boost and help the economy of a country. Last Friday, our teacher has invited guests to talk about being an entrepreneur. I learned many things and I was able to know how entrepreneur does things. The first speakers were Miss Archelle Ferrandiz and Arabelle Santamaria from Miriam College. They came up with a non-food business named Inabel that supports the dying industry of weaving. Sadly, Inabel was stopped because their other partners don’t have the same vision like they do. They stopped contributing ideas because they are not gaining money. According to Miss Archelle Ferrandiz, sometimes it is not only about gaining money it is also giving back to others. The way I think about on how business works were changed. Now, business for me is not all about money but being happy on what your business does to people around you. She said that we should be risk-takers in doing business. It simply means that we believe in our vision that it will hit the market. If ever the business fails, we will able to know what went wrong and with that if we start a business again the chance of falling again is decreased because we have the advantage of knowing what could possibly went wrong. She also quoted a quote from Martin Luther King “IF YOU CAN’T FLY THEN RUN, IF YOU CAN’T RUN THEN WALK, IF YOU CAN’T WALK THEN CRAWL, BUT WHATEVER YOU DO YOU HAVE TO KEEP

In spite of an unpredictable economy, African entrepreneur ideas are responsible for many changes that you will see in 2017. Inasmuch as enterprise creates opportunities for others, I won't lie, the path is a lonely and imperfect one. Although this may be true, the rewards are well worth the long nights and maxed out credit cards.

One can get a sense of her self reflection when she questions her abilities after the disappointment in Nairobi "The question was one of leadership, of having the patience and skills to bring people with me - and I had yet to learn that fully" One can easily forgive the poor narrative and be drawn into structure the book follows, A steep learning and gathering of ideas in the first third of the book, the realization of a dream and the disappointment of the failure of the system in the middle, acute action and accomplishment in the last third. Almost like a Business plan carried out with perfection. One can also overlook the fact that many chapters of the book act as individual case studies, outlining the many challenges faced my Entrepreneurs across the developing world. The loan analysis of a fledging Micro Finance in Nairobi, The startup of a new Micro-Finance Organization Duterimbere, Leadership and Entrepreneurial skills while re-inventing the Blue Bakery, Bringing cost effective Maternal and Eye care to India, Developing a brand name in the face of tight competition in

The fundamental opportunity that Adesemi and Celtel saw prior to entry in to Sub Saharan African (SSA) markets was namely to serve a market with astronomical and pent up demand. In 1995 there were 12 mobile phone subscriptions for every 100 people in the U.S but only one per 1000 people and one fixed telephone line for every 100 people in SSA. (Exhibit 1) These markets prevented a massive opportunity for companies looking to access more than 600 million people by bringing affordable telecommunications, while at the same enriching the lives of the poor.

One may question the reality on what failure is, but to me, failure is more than failing to get a task done. Failure includes the idea of letting someone down. In my case, it was letting myself down. Now how did I let myself down? I let myself down by becoming overly conscious of what people thought of me. Negative thoughts began to flood my mind. I never truly paid attention to what others thought, yet it something I cannot deny. I began to eat less and less. In high school, I was known as the girl who was shy, not entirely pretty and practically had more weight on her than anyone could count. I never truly paid attention to this before. Until one day it took liking someone to change this. This individual that I liked did not talk to me. They ignored me entirely. I thought

When understanding failure you must understand that it is conceptual. A mere thought. A fluke, one may say. One may know the act of failure but does one know what it is to feel like a failure? The sensation of a thousand bugs running up and down your skin every time you raise your hand in class? The sensation of shouting and almost as if you should have been burnt away at that very moment? My knowledge of failure is precise; there is no falter. I know of failure more than the regular person. One might worry.

Since the beginning of time, people only hear about all the successful ideas, but what about the bad ideas? Throughout the book 100 of the Worst Ideas in History: Humanity’s Thundering Brainstorms Turned Blundering Brain Farts by Michael Smith and Eric Kasum, there is documentation of 100 glorious failures in history. Even though these ideas are wrote-off as failures, our class has learned from Steven Johnson that errors can lead to great innovation. Johnson had also thought us how to create a good thinking process. With learning this process of generating good ideas, where do all the bad ideas come from? The majority of the bad ideas in 100 of the Worst Ideas in History: Humanity’s Thundering Brainstorms Turned Blundering Brain Farts can be defined by three categories: Conditions, Selfishness, and Money.

Failure can be one of the worst feelings after a person has tried so hard to accomplish something. Sometimes it can be very hard to overcome and can even lead to a person quitting something they’re passionate about. Even though it seems terrible, failure is very valuable in teaching a lesson. These lessons eventually lead to success which makes everything worth it in the end. Failure has played a big role in my life and has effected me in both negative and positive ways.

I believe that from failures that each individual encounters can be fundamental to later successes. Failing is a part of life that everyone will go through, but only a few will accept it. Going through failures multiple times will eventually lead to a superb success. I strongly know that failing will change a person because failing will lead to other opportunities and will help an individual obtain more knowledge on what to do next.

Possessing the trait of optimism has helped me deal with failure more constructively as well. For example, there have been a few tests that I did not do as well as I wanted to do on, but I remained tranquil and said that I would do better the next time. I’ve always seen failure as a new start. When we fall down, we must get up. Failure is just a stepping stone for success. Today, my optimism is still beneficial to myself and to others. It can sometimes annoying my peers because they still think I am overly optimistic, but I feel that it is what is right.

▪ Founded 1984 ▪ 2009 Revenue: $11.1 billion ▪ 2009 Net Income: $1.89 billion ▪ Employees: 12,000

Taking this entrepreneur course has been the best thing I could do for myself. Not only did it grow my mindset, but it taught me how to focus and concentrate on meeting my goals. At the beginning of this semester I could not let go the negative self-image I had of myself. Since I have been able to reflect on who I am I am slowly able to let go of that past image. I now know that I am more than able to reach my goals with the proper mindset and skills. I have come a long way since the beginning of this course. At the beginning of this course we were asked what is most important in life, and when I chose myself I knew after that reflections that I was off to a great start. Putting myself first these last few months has been the best thing I

initiative is to attract outside capital, given the lack of collateral and sufficient cash flows and the

INSTRUCTIONS TO CANDIDATES 1. This question paper consists of four (4) parts : PART A (20 Questions) PART B (20 Questions) PART C (5 Questions) PART D (2 Questions)