Entrepreneurship Assignment Sample

Introduction

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Entrepreneurship can be defined as the ability and readiness of an individual to develop, organise and operate a business enterprise along with several uncertainties for the purpose of making a profit. An entrepreneur can be defined as an individual who has the ability of creating a new business and bearing most of the risks so that they can enjoy most of the rewards as well. The process of setting up a business can be defined as entrepreneurship and it is commonly seen that an entrepreneur is the innovator of a new idea, both service and business (Wadhwaniet al., 2020). These entrepreneurs play a major role in the economy with the help of their skills and initiative that are necessary for the purpose of anticipating any amount of needs and requirements that they can bring to the goods to new markets.

Entrepreneurship can be defined as one of the resource economists who categorize as one of the integral parts of production and combine the first three of these two manufacturing goods and providing services. They usually focus on creating a business plan by hiring labour and acquiring some resources and finance so that they can provide leadership and management to the business. This essay will focus on analysing an international entrepreneur from the UK with the help of academic literature and relevant data which will be helpful in demonstrating knowledge and understanding of the international entrepreneurship theory and showcase how these models will be applicable to the selected entrepreneur (Ratten and Usmanij, 2021).

The chosen entre not for this particular essay is Bejay Mulenga who is the British entrepreneur and is a founder and CEO along with being a creative consultant and a public speaker. He is the founder of the development and recruitment company Supa Network and is also the co-founder of the online and wellbeing food delivery company.

Main Body

Because of the several trade barriers and increased competition along with the rapid technological development, several businesses have started carrying out international activities during the first operational here after the establishment and has been able to be a significant part of the total sales from the foreign market. The international entrepreneurship theory can be discussed as the development from a small national to an established multinational firm that has a great area of research interest and is considered to be one of the most important models in this field (Berger et al., 2021). One of those models known as the Uppsala Model has been developed which helps in defining the process of internationalisation of increasing experimental knowledge. This kind of discussion is based on several developments over time along with the main theme which are the behaviour of the forms when it comes to establishing different sequences in terms of entry modes and market. It has been found out that the organisations have successfully been able to enter the market with the help of greater psychic distance and the international behaviour of the firm in a single market which is a consequence of greater organisational commitment and learning.

It has been found out that entrepreneurship can be divided into two parts which are opportunities and individuals who really want to take advantage of them. It can be stated that the entrepreneurs have the ability of integrating the environment in a different manner which makes them a central player in the process of understanding the development of the firm. This is one of the most useful purposes of studying the decision making of entrepreneurial development regarding internationalisation as it is born in global firms (Chowdhury et al., 2019). Another model which is effective in nature is known as causation model which helps in starting with one set of alternatives and ending in several other different ways. The concept of these models in the journals is that the firm should focus on understanding and start with an analysis of the firm along with its environment and then should create a plan for the firm which is implemented and controlled. Bejay Mulenga has used the same logic from Entrepreneurship and business plan and has gotten the idea that the process starts with the initial stages of analysis of the firm and the internal environment and therefore he has gone about it with his management. The management of the company has been able to choose the proper market after the analysis of several markets and have evaluated different foreign market entry modes which have been helpful for them in terms of analysing and understanding which of the particular market entry modes is suitable as a marketing strategy (Baier-Fuentes et al., 2019). On the firm level, this has been able to focus on the resource-based theory and all other physical, human and organisational resources. Based on the research, the management of the company have been able to analyse and understand that the firm can choose a marketing strategy which is standardized in nature for all the market in order to gain economies of scale or also adapt to several different markets in order to meet the local difference in demand.

It has been found out that the causation processes are very effective in nature only in static environments where it is very important and possible to predict the future while the processes of effectuation are regarded as a more effective approach when the future is unpredictable. This has been considered by Bejay Mulenga during his business activities as he was aiming for the international market and the environment is very much hard to project which requires the entrepreneur to be influential in terms of developing the firm (Jiet al., 2018). Mulenga was very much eager to market his business idea and therefore he focused on organising speaking engagements and a number of schools around the country where he focused on sharing his tips on how the students could focus on utilising methods in order to turn their great the round as he himself has done it by transforming from an average students to a A* student. During sharing his ideas, he majorly focused on sharing his business plan and presented it as an opportunity for all the students so that he can develop entrepreneurial skills among them (Verbeke and Ciravegna, 2018). It has been found out that within four years of time span, Mulenga has worked with over 5,000 students and have been able to change their life.

Mulenga has focused on reflecting on the several skills that he developed while he was running his truck shop business and then he figured that he could share with others based on his expertise and experience. The feeling of his success being recognised has been one of the major factors that help to is the enthusiasm within him which helped him seek new business opportunities. He found out that he was both skilled and well equipped in the process of negotiating with established brands and had the ability of relating to influencers in a similar age group which made him feel like he had several opportunities of the day after his own marketing agency (Reuberet al., 2018). He has an extremely flexible approach towards leadership and his staff members are very much dependent on him to their employment contract enough to run a project. The flexibility which he shows is not synonymous with tears but it is focused on being grounded with discipline.He has focused on operating organisations which are more based on driven data and the continuously on such a platform of improving itself where he has seemed to recognise that in order to help people grow they need to focus on shadowing others and collaborate. He is of the view that in order to become what he wants to be you need to see. He also has focused on modelling the behaviour that he wants other people and his employees to adopt (Mainelaet al., 2018). He believes in engaging with people that he works with so that they can feel connected in person and can tune into the work culture and their employees of the company can also feel heard by him. This will not only motivate the employees but will also encourage them to attain the goals of the company. As a leader and the business entrepreneur, he focuses on privatising his well-being and follows a strict routine around no meeting before 10:00 a.m.

Mulenga had focused on utilising the Uppsala Model (U-Model) for the purpose of establishing international business theories at the time which will be helpful for them in implying that the firms can choose any mode of entry based on the analysis of their market risks and the cost in relation to the ones that are established within the own source and market characteristics. All these analyses will be helpful for the company in terms of picking up the most optimal mode and will be helpful for them in terms of gaining a competitive advantage in the marketplace (Li, 2019).

According to the U-model, it has been explained that there are two patterns in the process of internationalisation within the established business firm. The first pattern focuses on engaging the firm in a specific country market which has been developed with the help of an establishment chain and it is also a sequence of small incremental steps that has been taken by the organisation and it has resulted in an extended commitment. According to Johanson&Wiedersheim-Paul, it has been identified that the sequence of this model has been divided into four stages of the establishment chain (Sadeghiet al., 2019). The first step focuses on no regular activities of exporting which is performed on the foreign market that the firm has no specific commitment of any kind of resources which will be utilised to the particular market and established information channel requires to be to and from the market which are absent. The second step is to focus on exporting with the help of independent representatives which are known as agents. At this stage the firm has now become established as a channel to which the market will be able to receive study market information from and also step will be employing certain commitments to the market (Hobsbawm, 2022). The third step is one of the major steps which helps in setting up a steel subsidiary for the organisation and will help in providing them with the control and that will have an access to the market. This will be beneficial for the company in terms of enabling them to control the type and amount of information flow that might take place between the firm and the foreign market. At this particular stage, the organisation will be able to receive direct knowledge of the market along with their experiences as well. The fourth step of the establishment chain is the facility of manufacturing and production and this stage focuses on employing a larger resource commitment along with several other information flows which is even greater and experience of the market (Castellões and Dib, 2019).

Based on the second pattern, it can be discussed that the firm has a tendency of entering the market physically more distant as the focus on progressing in this establishment chain. Based on the model, it has been assured that the phone is supposed to strive for the purpose of increasing their long-term profit and also is needed to simultaneously strive to keep risk taking as low as possible. It is also supposed to focus on characterising the decision making of all the levels of the firm along with several endeavours (Baier-Fuentes et al., 2019). It is assumed that in this model there are few stages on which the company can be focused on establishing the chain and it influences the personal opportunities and sequential manner along with influencing the commitment decisions and current activities. This model has been able to further characterise several changes which include the experimental learning through several operational activities and current activities on the foreign market. Secondly, the companies have also been able to change themselves through decision making of commitments that are made for the purpose of strengthening their position on the foreign market (Morgan, 2021). This model has been recognised as one of the most effective models of internationalisation and has been helpful in analysing and identifying the initial activities of the firm which were initiated to psychically close the market mode of commitment towards gaining knowledge overtime and increasing the commitment of the market. This helps the organisation in expanding to a more distant market along with being able to emphasise that it is an incremental process of internationalisation among all the various activities taking place within the firm. It has been found out that increasing globalisation has been able to accelerate the technological developments which have been able to help the firm in facilitating and undertaking a rapid internationalisation process (Castellões and Dib, 2019). It has also been helpful to entrepreneurs like Mulenga. Increasing the process of globalisation has not only been helpful and accelerated the technological development but it has also been able to help the forms in facilitating and undertaking a rapid form of internationalisation process.

It has been recognised that the focus of the existence of these opportunities in the market and the recognition of these opportunities are related to the current business activities of the firm rather than the specific situation where they are seeking for opportunities.It is very much important to understand that the entrepreneurial at individual level can focus on for ceiling several opportunities as the outcome of previous learning where they can also be either learn to take in the knowledge or acquired through the experience. In this case study, Mulenga has focused on acquiring knowledge by experiencing it and also has experienced it by seeing someone else to it and separate where he has learnt from his experiences (Baier-Fuentes et al., 2019). He believes knowledge is one of the most important sources of motivation that helps in the process of entrepreneurial activity. It is also very important to have analyses and understanding the internationalisation can be perceived as the process of entrepreneurial ship and the environment of the firm can be taken as dynamic where in the variables might affect the change variables. It has also been analysed the several radical changes in the environment will only be able to increase the level of uncertainty and ambiguity when we are pursuing opportunities (Berger et al., 2021). It is also very important for entrepreneurs to have a separate learning through experiences and also to acquire knowledge so that they can focus on coping with situations in a better way possible.

With the help of network theory, Mulenga has been able to receive a lot of attention in the process of acknowledging the research field in the internalisation process. He has also been able to analyse the behaviour of the firm in the complete business environment along with a social network so that it can be helpful for the firm in the process of growth. The network theory has been able to describe how it is very important to form an interactive relationship between the individuals working for the company as well as the organisation as well. They have also been able to analyse how it is very important to focus on forming the foundation of a network which is based on actors, activities and resources (Berger et al., 2021). These nodes are very much interconnected to one another and have been able to shape the identities and reduce the social, cultural and technological distance with the help of communication. It is very important for the business entrepreneur to focus on understanding how technological implementation can be helpful in enhancing the operational activities and efficiency of the employee and how it will be helpful for them in achieving the competitive business goals (Jiet al., 2018). Mulenga has analysed how it is important to form a network that will be helpful in supporting the distributors, customers, suppliers, competitors and even the government and will keep the business relationship connected at every stage. It is very important to analyse how it is important to cover the essential business activities in a relationship in a specific environment of the company and it is formed based on the collaboration that takes place (Ratten and Usmanij, 2021). Mulenga has been able to understand how the network model has been able to organise several primary interchanges for the purpose of developing and coordinating the relationship along with focusing on developing several relationships before and after the international expansion that takes place between the companies. It has also been able to highlight how valuable knowledge is for the process of internationalisation and how business forms require a proper knowledge to be generated about the individual customers and partners.

Based on several pieces of evidence and experience, Mulenga has been able to realise how it is very important to focus on networking through the process of internationalisation and how it has been able to help be helpful in expanding the process of all the activities in relationships that takes place and allows the trade across borders.

Conclusion

This has significantly been able to analyse Mulenga and his entrepreneurial skills. It has also been able to highlight how the international theory has been applied to this case study. The concept of these models in the journals is that the firm should focus on understanding and start with an analysis of the firm along with its environment and then should create a plan for the firm which is implemented and controlled. He has an extremely flexible approach towards leadership and his staff members are very much dependent on him to their employment contract enough to run a project. This kind of discussion is based on several developments over time along with the main theme which are the behaviour of the forms when it comes to establishing different sequences in terms of entry modes and market.