The Course Of Entrepreneurship.Self Reflection Essay

The Course Of Entrepreneurship.Self Reflection - Essay Example In an academic field of study, the student is constantly involved in a learning process. The process of academic education allows individuals to constantly come across new skills and techniques and this learning enhance and polish the respective skills and techniques for the individual. This report discusses on the reflection I have while I was developing the plan for a new venture from the perspective of an entrepreneur. This was a group project and all the group members had certain roles and duties to fulfill for accomplishing the desired task. Throughout the project I came across different course contents that allowed me to relate things to real life and hence this project was a good learning experience for me as well as my group members. This project helped me to develop a good insight about the professional business world and how entrepreneurs need to deal with the various business circumstances they come across in their daily business activities. Summary of New Learning The ent repreneurship module allowed me to gain hands on knowledge and skills regarding the theories involved in the area of entrepreneurship as well as the practical applications required for entrepreneurship and initiating new business ventures in the business world. This course allowed me to understand that the requirements of becoming a successful entrepreneur and it also requires the individual to possess certain intellectual and physical skills along with have strong emotional skills so that the new business can be initiated in a successful manner. After learning about the importance of emotional skills, I developed a mindset that I need to work upon improving my emotional and social skills so that this helps me to become a successful entrepreneur. The course gave me a deep insight regarding the activities of an entrepreneur and also allowed me to understand the importance of the small and businesses that are operating in the country. The support that these small and medium businesses give to the economy is really remarkable to know and understand. Each and every business, be it small or big, plays a vital role towards the economy of any country, hence all entrepreneurs need to start up businesses for which there is a demand in the economy. I was able to evaluate my skills and abilities at the end of the course and planned out on the areas on which I need to improve for my future professional career. Entrepreneurship Skills, Knowledge, and Abilities This course taught me the various entrepreneurship skills that are possessed by entrepreneurs. Starting up new businesses by an entrepreneur can be a very challenging task. The entrepreneur needs to carefully devise the business plan and also allocate resources accordingly. Businesses require investments, while starting up the business the entrepreneur needs to analyse the investments available so that the business strategies can be planned accordingly. Financial aspect of any business is a very crucial part that nee ds to be given a strong consideration by all entrepreneurs. By analysing the financial position of the business the future decisions can be taken as businesses that are low on investments cannot implement financial strategies to a large extent on the firm. I am not that good in numbers therefore after learning about the importance of finance for entrepreneurs; I will be working towards my financial subjects. Keeping a strong and check and balance are also important for entrepreneurs as they can plan business expansion and diversion based upon their level of profitability with the business. Targeting new market segments also requires good investments and financial stability