Entrepreneurship Contribution and Operation with Integrity

Question: Discuss about theEntrepreneurshipfor Contribution and Operation with Integrity. Answer: Introduction As a group, we had the pleasure to interview an entrepreneur by name Tim. He has ventured in the property investment. He has always been driven by success; he was previously employed in skyles but got an opportunity to meet a person who was a multimillionaire who had invested more in the properties (Stevenson, Howard and Carlos, 2007). This individual introduced him to the industry and various ways of investing. In 2001, Tim started investing in properties; he had some knowledge because of his mentor and what he had learnt. [1]He further started investment in the land development in 2006, and what helped him in these ventures was acquiring the knowledge from the top development professional companies and learning on the different external cultures (Barringer, 2012). This individual was driven by success, and he started development companies in two places. What drove him was the need to be consistence, values and the difference he wanted to make. Moreover, his major attribute was inve sting in finance, training and helping individuals to make wealth. Contribution, operation with integrity, customer experience were his greatest strengths for the success. The ability recognition of what Tim posed was the ability to deliver, for instance, he was able to start a company and within 24 hours, it was operational. On the aspect of the working capital, he identified some individuals to pivot with and in return to offer a small shareholding on the company, consequently make sure the business was a success, the reason for this he did not want to put all his other investment into one area. Tim, was asked why he did not prefer bank lending as an alternative way of funding, and his thought on this was that in bank lending they required security of other assets, the business needed to be running for several years and if you do not pay they take your assets that was collateral. How Tim Managed and Dealt with the Challenges of a Growing Business In any new business provided it has the right kind of model, there would be a strong growth that will be exhibited. Nonetheless, there are challenges that may result as the business grows (Barringer 2012). One of the way to deal with the challenge, there is need to extract, secure and keep the right individuals. Throughout the years, Tim highlighted that he has used this as a way to solve on the problem. There is no need of throwing in the money to solve a given problem for example if a system has problem it is not good to just buy a new one, so that one is fulfilled. What has helped them is to look at the areas that are not doing well, for instance the cash flow or the employees output (Kuratko2016). This has been looking at the personnel and the talent each individual bring to the business and if in doubt they are replaced. Another way that has helped to solve the challenges of the growth is to take what is in offer. When the business is new, more often it has little stock to begin with, inadequate expertise on the operation of the business so it is advisable to take the offer at hand rather than what one is after. Theory Application Tim explained that when he started the business, he did not have a lot of knowledge just the advice from the mentor and what he learnt in regards to the property investment. [2]He realized that in any business, there is quiet strong growth, but there are challenges, which are exhibited such as the staff are less, the benefits are inadequate and an individual does not quite know what is happening due to inadequate knowledge they have (Drucker, 2014). There is need for the business to attract the right kind of people since this is goes in hand with the economy. Moreover, sometimes it is difficult to get good things for the business; one should take what is on offer (Garud, Raghu, Cynthia and Steve, 2013). Tim transition to the business success from the challenges there is need to invest in people especially the employees. His general manager is a lady who is just 25 years of age, but she has a wide range of experience on interacting with the customers (Shapero, Albert and Lisa Sokol, 1 982). Moreover, being the manager director of the company there is need to develop oneself by identifying what are his weaknesses and working on them to achieve the target. Engaging his success on investing on the employees aligns well with the findings of Joseph Schumpeters innovation theory, which stipulates that the entrepreneurs have three major characteristics these are innovation, foresight and creativity (Santos, 2012). He has found out that the employees are the key stakeholders in the business and investing in them is essentially the best practices that the business could adopt (Bosma and Jos Ernesto, 2014). Tim has adopted an evolved articulation on how to carry the business. On his notion there is need to be happy, and develop on the areas, one is not good at. Moreover, invest on methodological development, which entails helping others to discover themselves. Conclusion The assessment we carried out with the group found out Tim is an entrepreneur we based on various aspects. The reasons we found out is that one is the transition he has developed over the years. [3]First, he was previously employed in the financial planning and the wealth creation, but deep within him, he was driven by success wanted to make a difference in the world. He was given advice from a multimillionaire who had invested heavily in properties investment. He also got the zeal to venture in to this kind of investment. A good entrepreneur should be self-driven, a person who is committed, has integrity and want to make a difference globally. Tim exhibited all these attributes, which have driven him to be successful in the business ventured. According to him what makes a business to be successful, is investing in people. The general manager is a lady who is just 25 years of age and she head other business. This clearly shows she learnt early on the processes and operation of the bu siness. Tim is also articulate, in that he has learnt on the methodological development and the global economic cycles from the top economists. Bibliography Barringer, Bruce. 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