Entrepreneurial Strategy Exercise

Entrepreneurial Strategy Exercise

MGT300

January 23rd, 2012

Marilyn Pike

Entrepreneurial Strategy Exercise

The following paper is a reflection paper written through the author’s point of view because of the content of the questions asked and the assignment. The assignment will be focusing on the responses to the Personal Entrepreneurial Strategy Exercise in Chapter 1 of New Venture Creation: Entrepreneurship for the 21st Century (Timmons & Spinelli, 2007). The paper will: reflect the authors thoughts and opinions on what entrepreneurship means to her, discuss her entrepreneurial strengths and weaknesses, identify three to five goals that will help her fix her weaknesses, and answer how she will prepare to face globalization.

Entrepreneurship

What is the meaning of Entrepreneurship to me? Entrepreneurship is the ingenuity and creativity of a person that uses their own innovation and determination to take their ideas and change them into a lucrative business. Entrepreneurship has been defined differently by thousands of people across the world and each time the definition is different. The meaning of Entrepreneurship is different because it the definition is different to everyone that is interested in business.

Strengths and Weaknesses

The survey located on page 34 of New Venture Creation: Entrepreneurship for the 21st Century asks to rank you on a scale of five to one (5 being the strongest and 1 weakest) and examine what your “Entrepreneurial Mind” is. I will not go into detail about every score that was listed due to the amount of each section that was answered. My strengths surprised me the most once the final scores were evaluated. My strengths laid in Motivation to Excel and Commitment and Determination. I would say I ranked average in other areas though my weakness for this first section was in Leadership.

The second section, which started on pg. 35 -37, was similar to the first in that I had to rank and then evaluate my scores to see...