Entrepreneurial Questions

In: Business and Management

Submitted By sums8832
Words 1044
Pages 5
Executive summary
Introduction
Background and history of business
• The presentation of the content of the interview. It is important to divide the questions into groups, e.g.:
• Background information before the entrepreneur founded the business (the focus here should be on the entrepreneur)
• Motivation for self-employment (brief discussion of why he/she founded the business)
• The pre-start-up phase (i.e. opportunity, planning, financing)
• The start-up process (including the obstacles that he/she faced)
• Managing the business (challenges, opportunities)
• Support and development needs of the entrepreneur
• The future of the business (e.g. expansion, succession, harvesting)
• Your recommendations to take the business to the next level or to solve challenges faced by the business.
• End the report with a conclusion and summary.
• Include (at end of the report – one page) your reflection (how did you experience the interview/assignment?) after completing the assignment (lessons learnt, value added to you, suggestions for future assignments, among others).

Interview questions 1. Will you please give me more info wrt to Frankie Bells? 2. Would you tell me about yourself before you started your own business? 3. Whom else did you know while you were growing up who had started or owned a business, and how did they influence you? 4. Were your parents, relatives, or close friends entrepreneurial, how so? 5. Did you have role models? 6. What was your education experience? In hindsight was it helpful? In what specific ways? 7. Did you have a business / self-employment during your youth? 8. In particular, did you have any sales or marketing experience? How important was it, or lack of it, to starting your Company? 9. When, under what circumstances, and from whom did you become interested in entrepreneurship and learn…...

Similar Documents

Entrepreneurial Management

...AY2011-12 TERM 2 MGMT104 ENTREPRENEURIAL MANAGEMENT Prof. Tan Wee Liang Group Report Done by: Audrey LOW Hui Xin Justus WEE Rui Hao LUO Jingwei Nicolas Olivier Valentin VILMIN TEO Wei Xin Entrepreneurial Management Group Report 1   Contents Abstract ........................................................................................................................................................ 4 Introduction ................................................................................................................................................. 5 Background of Manager............................................................................................................................ 5 Background of Entrepreneur ..................................................................................................................... 6 Attributes and personal beliefs system of both Manager and Entrepreneur ............................................. 7 Evaluation of Interviews ............................................................................................................................. 8 Manager’s Views on Entrepreneurship – Michael Goh ............................................................................ 8 Entrepreneur’s Views on Entrepreneurship – Peter Low .......................................................................... 9 Comparison of Views....................................................................

Words: 13983 - Pages: 56

Entrepreneurial Process

...2 The Entrepreneurial Process "Who can be on entrepreneur you ask? Anyone who wants to experience the deep, dark canyons of uncertainly and ambiguity, and who wonts to walk the breathtaking highlands of success. But caution, do not plan to walk the Iotter until you hove experienced the former" An entrepreneur Results Expected Upon completion of this chapter you will have: l. Developed a definition of entrepreneurship and the entrepreneurial process that spans lifestyle to high potential ventures. 2. Examined the practical issues you will address and explore throughout the book. 3. Learned how entrepreneurs and their financial backers get the odds for success in their favor, defYing the pattern of disappointment and failure experienced by many. 4. Examined the Timmons Model of the entrepreneurial process, how it can be applied to your entrepreneurial career aspirations and ideas for businesses, and how recent research confirms its validity. Demystifying Entrepreneurship Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced. 1 Entrepreneurship results in the creation, enhancement, realization, and renewal of value, not just for owners, but for all participants and stakeholders. At the heart of the process is the creation and/or recognition of opportunities, 2 followed by the will and initiative to seize these opportunities. It requires a willingness to take risksboth personal and......

Words: 16706 - Pages: 67

Entrepreneurial Strategy

...ENFB71-104 Entrepreneurship and Innovation Session 3: Entrepreneurial Strategy Baden U’Ren buren@bond.edu.au Level 4, Room 9 5595 2212 Overview  Review of the readings  Innovation and Entrepreneurship  Entrepreneurship in a Corporate Context  Entrepreneurial Strategy What is Innovation? Something NEW that creates VALUE What is Innovation? “Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced” - Peter Drucker Source: Schaper & Volery (2007) Entrepreneurship and Small Business 2nd Edition. Wiley. p.69  Creativity  ideas, concepts & inventions  Innovation  the process of development and commercialisation  Entrepreneurship  couples opportunities and resources Innovation Exploit Incremental Explore Radical Kirzner The producer-entrepreneur •Alert and responsive to opportunities that exist •Exploits disorder (gaps) to move the market back to equilibrium Schumpeter The innovator-entrepreneur: •Creates products and processes to disturb market equilibrium •Creates opportunities Innovation & Performance Some ‘stylised facts’ about the relationships between innovation and performance:  Relationships between R&D, patents, new products and performance are strongest at the industry level, weakest at the firm level  Returns from...

Words: 733 - Pages: 3

Entrepreneurial Leadership

...ENTREPRENEURIAL LEADERSHIP Steve Jobs once asked the question, “Why join the navy if you can be a pirate?” While some may argue that Apple more closely models that of the navy due to the company’s expansive size and presence, one can certainly argue that without the pirate that was Steve Jobs, Apple would not be what it is today. Steve Jobs may very well be one of the leading entrepreneurs of his time, but other distinguished individuals have also followed down similar paths to profits and social change. Entrepreneurs take different approaches in determining their path to success. Two such paths are the profit-oriented and social-responsibility oriented entrepreneurial approaches. Though similarities exist between both approaches, numerous differences do as well. Steve Jobs said, “Innovation distinguishes between a leader and a follower.” It is however, up to the entrepreneur to decide which path of innovation to forge. Tim O’Shaughnessy, founder of LivingSocial.com, is one such entrepreneur whose path to success followed that of the profit-oriented approach. “For-profit organizations focus on business goals, such as making money. Even when for-profit organizations become involved in social activities, their prime purpose is usually to make a profit” (Ruvio, Rosenblatt, & Hertz-Lazarowitz, 2010). According to their website, LivingSocial claims, “Innovation and imagination have made LivingSocial the fastest-growing company in the social-buying category...

Words: 1592 - Pages: 7

Entrepreneurial Leadership

...Assignment #1: Entrepreneurial Leadership 01-17-2011 Assignment #1 Entrepreneurial Leadership1. Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today's Dynamic Markets.The theories and philosophies of Steve Case (2010), James Kouzes (2008), and Peter F. Drucker (1985) have similar qualities. Both Case's and Kouzes' theories stress the importance of utilizing human resources in a business. Case stresses the importance of hiring and retaining key people. This is the first “P” of his three “P” theory. Kouzes theory of celebrating the values and victories in which leaders recognize individuals for their contributions to success by showing that they are valued in the company. Case's and Kouzes' theories align with the entrepreneurial leader who is a transformational leader who empowers the people. Though stated differently; Case, Kouzes and Drucker all agree that that a leader must possess an intense desire to succeed. Case describes this intense desire as passion, the second “P” of his theory. He says that a leader must possess a passion for the business. Similarly, Kouzes says that a leader can motivate others by aspiring to a shared vision (or passion). Drucker's theory of “Fustest With the Mostest” is aligned with both Case and Kouzes in that to be......

Words: 882 - Pages: 4

Entrepreneurial Leadership

...Running Head: Entrepreneurial Leadership Dr. Theresa Bowen, Professor BUS 508: The Business Enterprise Strayer University Winter 2011 1. Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Leadership is the process through which an entrepreneur is able to influence employees to achieve the objectives of the organization. To be an effective leader, an entrepreneur must: (Livinsky, Dave) Build trust and confidence among employees and effectively communicate with them. Leaders can build trust in many ways. They can achieve it by working hard, maintaining a constant message and/or being available to solve employees' problems among others. By showing employees that they are fully committed to achieving the vision, entrepreneurial leaders build trust and confidence in employees. This in turn yields high employee satisfaction and commitment. Effective communications is equally critical to successful leadership. If employees are unclear about the company's vision, and/or receive mixed messages over time, they will be unable to focus all of their efforts on achieving the company's goals. Conversely, by delineating the company's vision and goals, and reinforcing them over time with the same message, the company's goals become engrained in......

Words: 1498 - Pages: 6

Entrepreneurial Intention

...Erasmus University of Rotterdam Erasmus Centre for Entrepreneurship The Impact of entrepreneurship education programs on entrepreneurial intentions: An application of the theory of planned behavior Master Thesis Sofia Karali 357726 Supervisor: Pr. Dr. Roy Thurik Erasmus School of Economics Co-reader: Hendrik Halbe MSc Erasmus Centre for Entrepreneurship Erasmus School of Economics Rotterdam 2013 Abstract Though many researchers have focused on entrepreneurship education, little research has been conducted on the precise effects and overall effectiveness of the entrepreneurship education programs. Drawing on the theory of planned behavior, this study investigates the impact of entrepreneurship programs on the entrepreneurial intention of students in higher education in the Netherlands. Data for this study is drawn from GUESSS (an international project investigating the entrepreneurial spirit of students worldwide). The results show that participants of entrepreneurship education programs are more likely to have higher intention (right or five years after their studies have been completed) to found their own businesses compared to nonparticipants. Furthermore, attitude toward entrepreneurship, subjective norm, and perceived behavioral control mediate the aforementioned relationship. The findings of this report contribute both to the Theory of Planned Behavior and to the field of entrepreneurship education. 1 Contents Acknowledgements 1. Introduction 2.......

Words: 10501 - Pages: 43

Entrepreneurial Mindset

...The Entrepreneurial Mindset: Strategies for Continuously Creating Opportunity in an Age of Uncertainty Rita Gunther McGrath and Ian C. MacMillan Executive Summary * Successful executives will learn to master uncertainty through the skills of entrepreneurial leadership * This calls for different disciplines than in conventional management * There are five key elements: * Creating a climate supporting continuous search for opportunity * Framing * Stocking an opportunity register * Focus * Promoting adaptive execution Entrepreneurial leadership: The most important job Although uncertainty might cause many to freeze, it can be used to your benefit. Uncertain situations are full of new opportunities. Your task is to continuously identify high-potential business opportunities and exploit these opportunities with speed and confidence. Thus, uncertainty can become your ally, not your enemy. Entrepreneurial leaders are distinguished from other managers by their personal practices. These fall into three categories: setting the work climate, orchestrating opportunity-seeking and moving particular ventures forward personally. * Climate setting practices create a pervasive sense of urgency for everyone to work on new business initiatives. Dedicate a disproportionate share of your own time, attention and discretionary resources to finding and supporting new business models. Gary Wendt, who drove massive growth at......

Words: 1483 - Pages: 6

Entrepreneurial Oreintation on Entrepreneurial Innovativenes:

...THE ROLE OF ENTREPRENEURIAL OREINTATION ON ENTREPRENEURIAL INNOVATIVENES: A CASE STUDY OF SMALL AND MEDIUM SCALE ENTREPRISE IN LAGOS STATE, NIGERIA BY FATOYE, MUSTAPHA OBI 08S04/046 BEING A RESEACH PROJECT SUMITTED TO THE DEPARMENT OF BUSNESS ADMINISTRATION, FACULTY OF SOCIAL AND MANAGEMENT SCIENCES, AJAYI CROWTHER UNIVERSITY, OYO IN PARTICAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF BARCHELOR OF SCIENCE (B.S.C) DEGREE IN BUSINESS ADMINISTARTION (MANAGEMENT OPTION) JULY, 2012 CERTIFICATION This is to certify that this project was written by FATOYE MUSTAPHA OBI (MARICULATION NUMBER 08S04/046) in partial fulfilment of the requirement for the award of bachelor of science (B.S.c) degree in business administration (management option) of the department of business administration, faculty of social and management sciences, Ajayi Crowther university, Oyo, Oyo State. MR. P.A Akanbi ....................... (Project supervisor) Date DR. O.E Ofoegbu ........................ (HOD, Business Administration) Date PROF. S.O. Akano ....................... (Dean, SMS) Date .............................. ........................ EXTERNAL EXAMINER Date DEDICATION This work is dedicated to God Almighty who generously gave me the strength, health and other resources to successfully accomplish this research. ACKNOWLEDGEMENTS This period of my life had been a period of trials and revelation......

Words: 14116 - Pages: 57

Entrepreneurial

...Entrepreneurial Leadership Hillary Wright The Business Enterprise – BUS 508 Instructor Dr. Jennifer Fleming April 22, 2011 Introduction In the ever-changing world that we live in today, it is important now more than ever for organizations to not only have the best product or service but also to diversify the dynamics of their organization through increased innovation and competitiveness. To be successful in this new age of business, business leaders must emerge ready to lead organizations that face these challenges and uncertainty in multiple dynamic markets (McGrath and MacMillan, 2000). These new types of business leaders are coming to be known as “entrepreneurial leaders.” These leaders are expected to be familiar with the common elements of different theories and philosophies as they relate to the new definition of entrepreneurial leadership along with being able to compare the dimensions of leadership styles within certain organizations. As entrepreneurs, they are privy to a wealth of knowledge, tools and resources that can be obtained from the Small Business Administration (SBA) and the website SCORE. Entrepreneurs are able to use this information to gain an advantage at the start-up of their new business. Hybrid Theory/Philosophy When defining entrepreneurial leadership, it is most widely viewed as a complex style of leading that helps develop and sustain elements of the organizational culture (Bergstrom , 2004). Individuals who practice this style are......

Words: 1856 - Pages: 8

Entrepreneurial Leadership

...Entrepreneurial Leadership Bridgett Miller Dr. Gary Shelton BUS 508 July 15, 2011 Entrepreneurial Leadership Question One Entrepreneurship is the leadership style needed for a dynamic market. The market today describes a dynamic market because of its nature to change consistently. The term dynamic means motion, energy, fluidity, and constancy of change in the market. These changes occur in various aspects including technologies, market, global situations, complementary goods and services, networks and alliances, customer groupings, demographic patterns, and financial systems. With all these changes witnessed, it only takes leadership combined with entrepreneurial spirit for there to be success in business. The big role for entrepreneurial leaders is to develop strategies that manage these changes and at the same time exploits the available opportunities. There are several common elements shared among the theories of Case, Kouzes, and Drucker. Steve Case’s philosophy identifies three Ps that would make any entrepreneur successful. These Ps include: people, passion, and perseverance. Kouzes talks of five exemplary practices of leadership. In all these theories, the idea of enabling others to act comes out clearly. A leader is not a leader until everyone under that leadership is inspired to act toward the common goal and......

Words: 1201 - Pages: 5

Entrepreneurial Leadership

...IDENTIFYING ENTREPRENEURIAL LEADERS IN TODAY’S DYNAMIC MARKETS Ayman Tarabishy, Doctoral Student, The George Washington University 2115 G St. N.W. Suite 403 Washington DC 20052 USA Tel: +1 (202)-468-3133 Fax: +1 202 994-4930 E-mail: Ayman@gwu.edu Lloyd Fernald, University of Central Florida Abstract Organizations regardless of size and industry now exist in the competitive landscape. This landscape is characterized by 1) increasing business risk, 2) decreasing ability to forecast, 3) fluid organizational and industrial boundaries, and 4) a managerial mind-set that demands unlearning many traditional management practices. Researchers and practitioners have proposed that organizations with an entrepreneurial strategic posture will be able to compete in such dynamic markets. Researchers and practitioners have also called for a new type of person to lead these organizations in the new dynamic market arena. They have coined this new person as the “entrepreneurial leader.” This paper will offer an operational definition of the term “entrepreneurial leader” based on the conceptual literature in leadership, entrepreneurship and the results of a pilot study. Executive Summary This paper attempts to explain that today’s markets can be best described as dynamic in nature. Regardless if the organization is established or a new venture they need to be able to deal with a dynamic market that is primarily revolutionary rather than evolutionary in nature. Researchers and practitioners have......

Words: 3878 - Pages: 16

Entrepreneurial

... prepare derivative works of, reverse engineer, decompile, disassemble, or otherwise attempt to create source code from the software. No title to or ownership in the Intellectual Property is transferred to you. All applicable rights of the Intellectual Property shall remain with SAMSUNG and its suppliers. Samsung Telecommunications America (STA), LLC Headquarters: 1301 E. Lookout Drive Richardson, TX 75082 Toll Free Tel: Customer Care Center: 1000 Klein Rd. Plano, TX 75074 1.888.987.HELP (4357) Internet Address: http://www.samsung.com ©2011 Samsung Telecommunications America, LLC is a registered trademark of Samsung Electronics America, Inc. and its related entities. T959_Galaxy_S_4G_UG_UVKB5_PS_022211_F4 Do you have questions about your Samsung Mobile Phone? For 24 hour information and assistance, we offer a new FAQ/ARS System (Automated Response System) at: www.samsung.com/us/support T9 Text Input is licensed by Tegic Communications and is covered by U.S. Pat. 5,818,437; U.S. Pat. 5,953,541; U.S. Pat. 6,011,554 and other patents pending. ACCESS® and NetFront™ are trademarks or registered trademarks of ACCESS Co., Ltd. in Japan and other countries. The Bluetooth® word mark, figure mark (stylized “B Design”), and combination mark (Bluetooth word mark and “B Design”) are registered trademarks and are wholly owned by the Bluetooth SIG. microSD™ and the microSD logo are Trademarks of the SD Card Association. Openwave® is a registered Trademark of Openwave, Inc....

Words: 63749 - Pages: 255

Entrepreneurial Leadership

...Introduction This paper aim at analyzing the concept of entrepreneurial leadership .Before starting our analysis, two important concepts need to be addressed: Leadership and Entrepreneurship. Leadership is directing or inspiring people to attain organizational goals (Boone and Kurtz, 2011). An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business (Boone and Kurtz, 2011). In the past 15 years researchers have tried to merge those two concepts into one concept Entrepreneurial Leadership .The common point of those researchers is that most defined some of the main elements of what they taught entrepreneurial leadership meant (Tarabishy, 2003). According to the research result of Ayman Tarabishy (2003) entrepreneurial leadership is one of an enterprising, transformational leader who operates in a dynamic market that offers lucrative opportunities. Entrepreneurial leaders are usually risk takers, driven, and can recognize when change will give an advantage. Entrepreneur leaders are engine of innovation, renewal, and job creation (Verheul, 2007). Entrepreneur leaders apply their talent in different situations and have different entrepreneurial approaches. Thesis Statement: In analyzing the importance of leading entrepreneurs to determine their entrepreneurial approaches one of each of the following categories will be addressed: (1) profit oriented, (2) social responsibility oriented; 3) personal approach......

Words: 2886 - Pages: 12

Entrepreneurial Leadership

...Entrepreneurial Leadership Professor Contemporary Business- BUS 508 22 January 2012 Leadership is an art, and requires discipline, good techniques and self-expression. According to (Hellriegel and Slocum, 2011, p.297) effective leadership is the forefront of most organizations and strategic planning exemplifies this philosophy. According to (Boone & Kurtz, 2011, p. 11) an entrepreneur is a risk taker and their entrepreneurial spirit fuels growth in the U.S. economy. Entrepreneurship is seen as a crucial determinant of economic development. Entrepreneurs recognize and capitalize on opportunities so that a business can be created and evolve. Besides creating jobs and selling products, entrepreneurship provides the benefits of innovation. Leadership itself is not enough to make a company succeed; there must also be a good relationship between leaders and followers within the company in order to maintain open lines of communication and to operate at the highest levels of efficiency possible. It takes the right kind of leadership for any specific company and market in order to achieve optimum results. Analyze and describe the founding leader(s), leadership style, and major business principles of a profit-oriented entrepreneurial approach in which the primary goal is to provide a product or service to consumers and to make a profit. The entrepreneur that we will discuss is Scott D. Cook he is a co-founder along with Tom Proulx for the company Intuit. The two......

Words: 1015 - Pages: 5