ENTREP 3015 Entrepreneurial Leadership

Entrepreneurial mindset can be rightly identified as the overall build up of mental capabilities which helps an individual in overcoming the different challenges, being decisive, accepting responsibility for the outcomes and undertaking constant engagements to develop new ideas and learn from one’s mistakes (Carter  and Carter  2020). Hence, the opportunity received by us to form a business canvas model and a business pitch, greatly allowed us to ensure that we are successful in our attempts to learn about lean start-up management and the factors to be considered in an entrepreneurial endeavour (Euchner  2019). Here, it is significant to note that the focus of this reflective piece is to underline and highlight that key learnings and knowledge which I have been able to develop through these assessments and also analyse some of the challenges which I have faced by moving away from the face to face group work to the online development and related assessments.

New knowledge that has been developed about entrepreneurship

Prior to undertaking the two assessments relating to the development of the business pitch and the related ideology largely associated with the business idea, I was able to understand and identify the key integrities associated with the procedure of entrepreneurship and identify the key struggles and hard work which an entrepreneur is essentially required to undergo in order to ensure better organizational outcomes (Morkunas,   Paschen  and Boon  2019). In this context, it becomes significant to highlight that, I had always though that the entrepreneurship is always about the business idea, however, at a later consideration I was successfully able to understand that it is about the business idea, the value proposition, the key activities, partners, cost considerations , revenue streams, customer segments, distribution and the way in which the customer relationships had to be managed. The business canvas model by Osterwalder  and Euchner  (2019) was new to me and this was one of the key knowledge aspects which I was able to gain about entrepreneurship.

Combining theoretical knowledge with experiential knowledge gained in developing a lean start-up

Once we learnt about the Business canvas model in the first assignment, the business pitch provided us with the necessary exposure which was essential to build the entrepreneur knowledge. The business chosen by us was associated with the Shield Tech’s new water resistant laptop and we were required to apply this idea and convert it to the real business plan using the business canvas model. Here, it becomes very critical to underline the fact that working on the project made me think about the overall idea of the business and how we business owners would be required to manage each associated aspect of the business (Sparviero  2019). While developing the idea, I had not given a though to the different distribution channels, the way in which the customer market would be segmented and the related considerations which are generally required to be undertaken.

However, after undertaking this assignment, I got to know more about my project topic and the different gaps present in the same. I was able to recognize the shortcomings which my business plan related to the laptops largely possessed and also gain an understanding of the way in which I would be required to overcome these related strategies (Tsingos-Lucas et al2017)  . In this context, it becomes relatively crucial to underline the fact that the knowledge which I gained in the domain of entrepreneurship has greatly assisted me to improve my assignment and at the same time identify the key points where I have to improve. Hence, the idea and concepts associated with the business canvas model has greatly assisted me in abiding by key entrepreneurial procedures and gain a sufficient idea about the key methods using which the business ideas can  be developed in a considerate manner.

Experiences of moving away from face to face group work to online development

Although we learnt a great deal from the course in regard to the entrepreneurship opportunities and the associated class lectures, I believe that moving away from the face to face group work to online learning and development procedure has been difficult from me. This can be identified to be due to the fact that, an online face to face interaction essentially allows an individual to interact with each other in a considerate manner and share ideas freely. However, in the case of the online classes there are several technical barriers. Very often the internet issues lead to a higher waiting time associated with listening and speaking time which hereby breaks the chain and causes certain barriers. In addition to this, face to face group work allows an individual to work faster (Holotiuk  and Beimborn  2017). This is not the case for the online development as due to the time differences an adequate time frame has to be decided upon which might cause delays.  Although there are a number of online activities to make us feel engaged however, this lacks the aura of offline interactions.

Impact of the changing dynamics on the field of entrepreneurship

As the global pandemic has affected all aspects of the learning and trade, it becomes essentially critical to note that this has impacted the related dynamics associated with the entrepreneurship as well. The entrepreneurs generally like to work in a team and hence, with consideration to this, they would find it a bit difficult to coordinated engagements and activities from online development (Yuan et al. 2020) . Moreover, the entrepreneur and their teams are well coordinated with one another and work for longer hours which may not be essentially possible via online considerations. Hence, there may be a slight delay in the related entrepreneurial procedures as this would being about considerate delay in ideal launching and brainstorming engagements.

Conclusion

Hence, the reflective piece followed a comprehensive format whereby I have outlined my key theoretical learnings from the previous assessments relating to the concept of entrepreneurship and the associated application to the business idea. Moreover, as a majority of activities and engagements have shifted online, the reflective is focused upon understanding how the shift has been and the impact this can have on the different entrepreneurs and students in the field of academics.

References

Carter, M. and Carter, C., 2020. The Creative Business Model Canvas. Social Enterprise Journal.

Euchner, J., 2019. Business Model Innovation: An Interview with Alex Osterwalder: Alex Osterwalder Talks with Jim Euchner about the Business Model Canvas and Its Uses and Evolution. Research-Technology Management, 62(4), p.12.

Holotiuk, F. and Beimborn, D., 2017. Critical success factors of digital business strategy.

Morkunas, V.J., Paschen, J. and Boon, E., 2019. How blockchain technologies impact your business model. Business Horizons, 62(3), pp.295-306.

Osterwalder, A. and Euchner, J., 2019. Business model innovation: An interview with Alex Osterwalder. Research-Technology Management, 62(4), pp.12-18.

Sparviero, S., 2019. The case for a socially oriented business model canvas: The social enterprise model canvas. Journal of Social Entrepreneurship, 10(2), pp.232-251.

Tsingos-Lucas, C., Bosnic-Anticevich, S., Schneider, C.R. and Smith, L., 2017. Using reflective writing as a predictor of academic success in different assessment formats. American journal of pharmaceutical education, 81(1).

Yuan, Y., Lu, L.Y., Tian, G. and Yu, Y., 2020. Business strategy and corporate social responsibility. Journal of Business Ethics, 162(2), pp.359-377.

Our team consists of PhD stalwarts who leave no stones unturned to deliver you perfect assignment writing services. The ghostwriters follow your university guidelines to ensure you get top-notch quality work irrespective of the topic. Our team has gone through rigorous training to meet your expectations with the utmost precision. We are familiar with all types of academic documents such as essays, academic posters, book reports, dissertations, homework, coursework and more. Whether you opt for our online exam help or assignment help, we provide individualised attention to your concern in each case.