Business Start Up Assignment Example | Topics and Well Written Essays - 1500 words

Business Start Up - Assignment Example The person can also choose when to work and not to work when he is not highly motivated. This will give the person t produce high quality output. Working alone and being self-employed means being in control of all the decisions that has to make. The person gets to decide on his own business plan, his own quality assurance activities, pricing and marketing methods. At the sae time, there is a 100% job security; the person will never get fired. People usually do what they want to do unless they are otherwise motivated. They must be motivated by themselves or by an external stimulus. Motivation is, in effect, inducing others in a specific way towards goals specifically stated by the motivator. In an organization these goals, as the motivation system, must conform to the corporate policy of the organization. The motivational system must be tailored to fit the needs of the organization. Joining the world of the self-employed is very risky. Considering the freedom to choose how much time and when to work, who to work with, low operating cost, no hassle in beating the office hours, if everything goes well, earning more money is very possible without working for someone else, it is worth the risk. 2. Skills Required Entrepreneurship is a term in business that is always mistaken as something synonymous with small business. Basically, a businessman cannot be considered as an entrepreneur just by initiating the business, but rather by having a behaviour pattern that concentrates on opportunity rather than resources (Drucker, 2002). This behaviour can be applied in either small or corporate businesses, by any manager or leader. It can be said that referring entrepreneur as an individual who creates a business literally is incomplete, as the term also signifies most importantly a pattern of behaviour and attitude, and not just the tangible sole proprietor of the organization or the business. Churchill (1992) defined it "as the process of uncovering and developing opportunity to create value through innovation and seizing the opportunity without regard to either resources (human or capital) or the location of the entrepreneur - in a new or existing company" (p.586). Hofstede (1997) stated the definition of entrepreneurship in other terms, referring it as "a process that takes place in different environments and settings which causes changes in the economic system through innovations brought about by individuals who generate or respond to economic opportunities that create value for both those individuals and society" (p.352). In other words, it is considered as individual or organizational level phenomena, or the experience of continuously searching for growth through improvement and innovation. The entrepreneur must possess typical characteristics such as: the ability to take risks; innovativeness; knowledge on how the market functions; manufacturing know-how; marketing skills; business management skills; interpersonal skills, organizational skills (that I already have ) and the ability to cooperate (Buheiry, 1989). Possessed with such characteristics, entrepreneurs have shaped literally the economic condition of the world as we see it. They are the ones who are