The paper "Entrepreneurship and Business Venturing" is a good example of business coursework. This reflective essay is based on the two assignments that I did as part of my course work. The two assignments were based on the two projects that I did as part of a group. The first project was about developing a charity business for The Trussell Trust (TTT) in Portsmouth. The second project was about developing a hypothetical business venture of selling personal computers using SIMVENTURE. In the essay, I do two things. The first one is that I reflect on the entrepreneurial skills that I have gained as a result of being part of the two projects.
The second thing is that I reflect on my personal contribution to the decision-making process and start-up activities that were carried out by my group as part of the two projects. The entrepreneurial skills that I have developed I have developed a wide range of entrepreneurial skills as a result of participating in the two projects. One of the skills that I have learnt so far is networking or collaborating with others.
In theory, it is noted that entrepreneurs need to network and collaborate with different types of individuals as a way of getting social capital (Hunt & Fielden 2016, p. 30). Social capital is seen as the benefits that individual entrepreneurs usually get from their weak as well as strong interpersonal relationships with other people in society (Hunt & Fielden 2016, p. 30). Similarly, Klyver and Evald (2012, p. 147) note that entrepreneurs are increasingly networking with each other as a way of ensuring that they get access to ideas and even other forms of resources that they may need in their entrepreneurial activities.
My friends and I got involved in the TTT project during the first semester. We were merely acquaintances then but we had to collaborate with each other and develop strong ties for us to be assured of succeeding in our task. Further, in the course of doing the project, I learnt that knowing as many people as possible could turn out to be beneficial. In fact, by knowing and talking to many people in Portsmouth, we were able to figure out how exactly the RescArt (the charitable business for TTT) would eventually run. The second entrepreneurial skill that I believe I developed as a result of participating in the two projects is the ability to think critically and creatively.
It is important to point out at this stage that the ability to think critically and creatively is not necessarily inborn. Allen (2015, p. 41) observes that almost everyone can dramatically build their ability to think critically and creatively. In the course of undertaking the two projects, I made a conscious effort to improve my ability to think critically and creatively.
My intention was to use every opportunity to think critically and come up with creative suggestions for the business. One of the key things that provided me with an opportunity to put my skills to use and, in the process improve them, was when we had to figure out how exactly would RescArt be modelled. Of course, it was a new business so we had very few examples to copy. It was my idea that we introduce the unit of selling coffee and other drinks as part of the enterprise.
I figured out that doing so would not only attract new clients to the facility but also keep our core clients happy.