Higher College Entrepreneurship and Small Business Management

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Business Finance

Description

Unit learning outcomes:

1- Demonstrate the following knowledge and understanding

•Demonstrate a critical understanding of the entrepreneurial character, start-up and growth strategies, and business planning.

2- Demonstrate the following skills and abilities

Formulate and produce a comprehensive viable business model following a critical assessment of a market opportunity, using creativity, innovation, and an understanding of financial resource implications.

What am I required to do in this assignment?

A reflective report (25%) on whether you have entrepreneurial character traits and the implications for you, based upon online psychometric instruments including the General Enterprise Tendency test.

Its aim is to get you to use the academic skills learned at Business School 1 to help you assess whether you have the character traits and other characteristics of an entrepreneur and to reflect on the implications of this.

Complete the General Enterprise Tendency test (GET) on http://www.get2test.net. Explain the meaning of the results (see chapter 2 New Venture Creation). A copy of your test results must be submitted with your report.

Provide evidence that supports (or contradicts) these results. For example:

•Other psychometrics tests such as the ‘AULIVE’ creativity test on www.testmycreativity.com Please acknowledge the use of any test results that have been submitted on other MBA assessments. A copy of any other tests relied upon must also be submitted with your report.

•Examples of your actions and behaviors over your life and business career.

Give a brief account of the antecedent influences on your character traits such as education, family background, work experience etc., linking specific influences with specific traits wherever possible.

Reflect on and provide conclusions about your character traits and the implications for your career aspirations. Please do not include any elements that have been submitted marked in previous submissions.

Very Important Notes:

•Show evidence of relevant topic research

•Through evidence of critical analysis reflect upon your personal qualities or character traits in respect of those of an entrepreneur by effective use of psychometric instruments

•Demonstrate adequate evidence of analysis and evaluation of results of the self-assessment exercises

•Present your work as a formal report and include references in Harvard style within the text and in the reference list

Note That: I’ve already did the Test as well as the Results, inside files named “Results” and “General Question Measure of Enterprising Tendency v2 - GET2 (Question)”.



*** Words counts = 1000 words.

*** I have uploaded two attachments named “Results” and “General Question Measure of Enterprising Tendency v2 - GET2 (Question)”.

Unformatted Attachment Preview

2019/10/9 General Measure of Enterprising Tendency v2 - GET2 ||  GET2 TEST FOR ENTERPRISING POTENTIAL || The test should be used as an educational aid for thinking about enterprise. Decide if you tend to agree or disagree with the statements. There are no right or wrong answers in this test. It should take you about ten minutes to complete and the report produced will give you an idea of your enterprising potential. For each statement click the answer which best expresses your views. Answer all the questions quickly and honestly since this gives the best picture of yourself as you are now. Note, the test uses cookies. 1 I would not mind routine unchallenging work if the pay and pension prospects were good. Tend to agree 2 I like to test boundaries and get into areas where few have worked before. Tend to agree 3 Tend to disagree I nd it di cult to switch off from work completely. Tend to agree 7 Tend to disagree I rarely day dream. Tend to agree 6 Tend to disagree Capable people who fail to become successful have not usually taken chances when they have occurred. Tend to agree 5 Tend to disagree I tend not to like to stand out or be unconventional. Tend to agree 4 Tend to disagree Tend to disagree You are either naturally good at something or you are not, effort makes no difference. Tend to agree Tend to disagree www.get2test.net./get2test.html 1/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 8 Sometimes people nd my ideas unusual. Tend to agree 9 I would rather buy a lottery ticket than enter a competition. Tend to agree 10 Tend to disagree Tend to disagree I like challenges that stretch my abilities and get bored with things I can do quite easily. Tend to agree Tend to disagree 11 I would prefer to have a moderate income in a secure job rather than a high income in a job that depended on my performance. Tend to agree 12 At work, I often take over projects and steer them my way without worrying about what other people think. Tend to agree 13 Tend to disagree When I make plans I nearly always achieve them. Tend to agree 17 Tend to disagree If I am having problems with a task I leave it, forget it and move on to something else. Tend to agree 16 Tend to disagree Sometimes I think about information almost obsessively until I come up with new ideas and solutions. Tend to agree 15 Tend to disagree Many of the bad times that people experience are due to bad luck. Tend to agree 14 Tend to disagree Tend to disagree I do not like unexpected changes to my weekly routines. www.get2test.net./get2test.html 2/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Tend to agree 18 If I wanted to achieve something and the chances of success were 50/50 I would take the risk. Tend to agree 19 Tend to disagree Tend to disagree I think more of the present and past than of the future. Tend to agree Tend to disagree 20 If I had a good idea for making some money, I would be willing to invest my time and borrow money to enable me to do it. Tend to agree 21 I like a lot of guidance to be really clear about what to do in work. Tend to agree 22 Tend to disagree I try to accept that things happen to me in life for a reason. Tend to agree 26 Tend to disagree It is more important to do a job well than to try to please people. Tend to agree 25 Tend to disagree I am wary of new ideas, gadgets and technologies. Tend to agree 24 Tend to disagree People generally get what they deserve. Tend to agree 23 Tend to disagree Tend to disagree Other people think that I’m always making changes and trying out new ideas. www.get2test.net./get2test.html 3/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Tend to agree 27 If there is a chance of failure I would rather not do it. Tend to agree 28 Tend to disagree You are not likely to be successful unless you are in the right place at the right time. Tend to agree 32 Tend to disagree I rarely need or want any assistance and like to put my own stamp on work that I do. Tend to agree 31 Tend to disagree Before I make a decision I like to have all the facts no matter how long it takes. Tend to agree 30 Tend to disagree I get annoyed if people are not on time for meetings. Tend to agree 29 Tend to disagree Tend to disagree I prefer to be quite good at several things rather than very good at one thing. Tend to agree Tend to disagree 33 I would rather work with a person I liked who was not good at the job, rather than work with someone I did not like, even if they were good at the job. Tend to agree 34 Being successful is a result of working hard, luck has little to do with it. Tend to agree 35 Tend to disagree Tend to disagree I prefer doing things in the usual way rather than trying out new methods. www.get2test.net./get2test.html 4/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Tend to agree Tend to disagree 36 Before making an important decision I prefer to weigh up the pro’s and con’s fairly quickly rather than spending a long time thinking about it. Tend to agree 37 Tend to disagree I would rather work on a task as part of a team rather than take responsibility for it myself. Tend to agree Tend to disagree 38 I would rather take an opportunity that might lead to even better things than have an experience that I am sure to enjoy. Tend to agree 39 I usually do what is expected of me and follow instructions carefully. Tend to agree 40 Tend to disagree I believe that destiny determines what happens to me in life. Tend to agree 44 Tend to disagree When I am faced with a challenge I think more about the results of succeeding than the effects of failing. Tend to agree 43 Tend to disagree I like to have my life organised so that it runs smoothly and to plan. Tend to agree 42 Tend to disagree For me, getting what I want is a just reward for my efforts. Tend to agree 41 Tend to disagree Tend to disagree I like to spend time with people who have different ways of thinking. www.get2test.net./get2test.html 5/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Tend to agree 45 I nd it di cult to ask for favours from other people. Tend to agree 46 Tend to disagree I get what I want from life because I work hard to make it happen. Tend to agree 53 Tend to disagree I nd it easy to relax on holiday and forget about work. Tend to agree 52 Tend to disagree Sometimes I have so many ideas that I feel pressurised. Tend to agree 51 Tend to disagree People’s failures are rarely the result of their poor judgement. Tend to agree 50 Tend to disagree I get annoyed if superiors or colleagues take credit for my work. Tend to agree 49 Tend to disagree What we are used to is usually better than what is unfamiliar. Tend to agree 48 Tend to disagree I get up early, stay late or skip meals if I have a deadline for some work that needs to be done. Tend to agree 47 Tend to disagree Tend to disagree It is harder for me to adapt to change than keep to a routine. www.get2test.net./get2test.html 6/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Tend to agree 54 in. Tend to disagree I like to start interesting projects even if there is no guaranteed payback for the money or time I have to put Tend to agree Tend to disagree Copyright © 2019 - Dr Sally Caird | All Rights Reserved www.get2test.net./get2test.html 7/7 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 ||  GET2 TEST RESULTS || The GET2 test de nes an enterprising tendency as the tendency to start up and manage projects - highly enterprising people do this more often and are more innovative in their approach. This self assessment test aims to give you an idea of your enterprising potential, although it is important to note that there is much academic debate about the most important characteristics of enterprising people, and there is a role for education and training in helping people develop their potential. Your responses to the test suggest the following results:  GET2 Test Enterprise Rating Highly enterprising The overall GET2 test score of 83% suggests that your enterprising tendency is high. This means that you have a tendency to start up and manage innovative projects. This could be your own business venture, within your employing organisation or your community. You may recognise the following qualities in yourself: You have a strong need for achievement; You like to be in charge; You will seek opportunities and use resources to achieve your plans; You believe that you possess or can gain the qualities to be successful; You are innovative and willing to take a calculated risk to achieve your goals successfully. The most enterprising people set up projects more frequently, set up more innovative projects and are more growth-oriented, which means that they are opportunistic and good at utilising resources, including human, technological, physical and organisational resources. However, there is much you can learn and do. Several universities, such as the Open University offer free courses online which may help you to build up your business knowledge and skills (see http://openlearn.open.ac.uk (http://openlearn.open.ac.uk)). There are also many MOOCs (Massive Online Open Courses) freely available on the FutureLearn platform (https://www.futurelearn.com (https://www.futurelearn.com)) to help you to learn about technology, business and the economy, learn languages and so on. www.get2test.net./get2result.html 1/5 2019/10/9 General Measure of Enterprising Tendency v2 - GET2  Need for Achievement Your need for achievement is high. This means that you may have the following qualities: An orientation towards the future; Reliance on your own ability; An optimistic rather than a pessimistic outlook; A strong task orientation; Effective time management; An orientation towards results, which applies to yourself and others; A restlessness, strong drive and high energy levels; Opinionated and ready to defend your ideas and views; A determination to ensure your objectives are met even when di culties arise; Responsibility and persistence in pursuit of your aims; Goal–orientated, setting challenging but realistic goals; A willingness to work long and hard when necessary to complete tasks. With a high need for achievement, you may need to be careful about maintaining your work life balance and in particular taking care of your health and important relationships in your life. Your results suggest you are both highly enterprising and that you have a high need for achievement, suggesting that you are interested in considering business or enterprise ideas with potential for growth, and expansion in global as well as local contexts. Your high need for achievement gives you the drive to accomplish great achievements in the career path of your choice.  Need for Autonomy Having a medium score, you may recognise yourself being somewhat independent, individualistic and determined, although you may be happy to work as an intrapraneur or as a valuable member of an organisational team. If you start your own enterprise, you may need to cultivate stronger independent leadership qualities. Starting a business is only one option for you, and you would probably be equally happy to work as an employee as part of an organisational team or on your own projects.  Creative Tendency www.get2test.net./get2result.html 2/5 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Your creative tendency is high. This means that you may have the following qualities: An imaginative, inventive or innovative tendency to come up with new ideas; Intuition, being able to synthesis ideas and knowledge and make good guesses when necessary; Change-orientated, preferring novelty, change and challenges with a dislike of being locked into routines; Versatilty, being able to draw on personal resources for project management and problem solving; Curiousity and interest in new ideas. A high creative tendency score suggests that you are a person with strong creative tendencies that may be expressed through artistic, innovative or inventive activities. While not all creative people have to be enterprising, it is nonetheless a characteristic of the most enterprising. Your results suggest you are highly enterprising, and that you have high creative tendencies. This suggests that you are likely to be innovative in your enterprises, that is you would probably create new products, services or systems, and intellectual property of various types. You may need to be careful about over-extending yourself and following up too many opportunities. It may be important to develop skills in evaluating ideas to assist with decisions about which ideas to prioritise for investment and development.  Calculated Risk-Taking You scored high for calculated risk-taking. This means that you may have the following qualities: Decisiveness, being able to act on incomplete information and good at judging when incomplete information is su cient for taking action; Self-awareness with the ability to accurately assessing your capabilities; Analytical, being good at evaluating the likely bene ts against the likely costs of actions; Goal-oriented, setting yourself challenging but attainable goals; Effective information management, using information to calculate the probability that your actions will be successful. With a high score on calculated risk-taking you are likely to be very good at sizing up opportunities and ltering information to help you take calculated risks.  Locus of Control www.get2test.net./get2result.html 3/5 2019/10/9 General Measure of Enterprising Tendency v2 - GET2 Having a medium score, you may recognise yourself as being somewhat opportunistic, self-con dent, proactive and determined, although if you wish to start a business you may need to develop your self-con dence and enterprising skills to make a success of the venture. In particular, you may need to learn to exert greater control over the development of your ideas. Your self-con dence could be strengthened by developing speci c business or project management skills in areas that you feel need to be improved. Without greater self-con dence you may over-rely on others, such as partners or clients, and this could create greater risks for an enterprise. You may need to develop your self-con dence and exert greater control over the development of your ideas. Selfcon dence could be strengthened by developing speci c enterprising skills in areas that you feel could be improved. Without greater self-con dence you may over-rely on others, such as partners or clients, and this could create greater risk if you are not in control of your enterprise.  General Enterprising Tendancy (GET2) Test Result Summary The radar plot and chart show the characteristics of your GET2 test scores graphically. You can print the report off so that you can compare your chart with somene else‘s chart, or you can compare your own chart with a new chart if you decide to re-take the test on a future date. Ach = Need for Achievement | Aut = Need for Autonomy | Cre = Creative Tendency Ris = Calculated Risk-taking | LoC = Locus of control GET Score = 83% Achieve = 100% Autonomy = 67% Creative = 83% Risk taking = 92% www.get2test.net./get2result.html 4/5 2019/10/9 Control General Measure of Enterprising Tendency v2 - GET2 = 67% We hope this report helps you understand the nature of your tendencies for general enterprise and that you recognise in the report some of your own traits. However, the author cannot accept any liability for the report or for these interpretations, which are offered in good faith. If you would like to know more about this test and how to improve your score, see the FAQ (index.html#faq). If you would like further information on the test, please consult the GET2 bibliographic references (index.html#academic). Please don‘t forget to leave us your feedback (get2feedback.html). The report can be printed if required. Report date: Wed Oct 09 2019 Copyright © 2019 - Dr Sally Caird | All Rights Reserved www.get2test.net./get2result.html 5/5
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Explanation & Answer

Attached.

BDC Entrepreneurship Assessment

Test my Creativity Test Results


Entrepreneurship and Small Business Management 1

ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT

Student’s Name

Course
Professor’s Name
University
City
Date

Entrepreneurship and Small Business Management 2
Entrepreneurship and Small Business Management
Introduction
Entrepreneurship is a heartfelt state that entails inspiration and the capacity of an
individual to recognize a business opportunity and utilize the opportunity to add value or gain a
benefit. Lucian and Sergiu (2019) state that entrepreneurs are individuals that take business risks.
Besides taking risks, entrepreneurs are people that perceive a vision, are dedicated to that
business idea, and support the idea to its effective execution (Amiri & Marimaei 2012). Yan
(2010) notes entrepreneurs’ decision to venture in a new business is predicated upon a person’s
desires and intentions to progress, which in turn, is influenced by one's perception that the
venture is both desirable and possible. Therefore, entrepreneurs are creative, optimistic,
innovative, loves challenges, realistic, likes managing, energetic, self-confident, involved,
committed, and need control (Dvir, Sadeh, Pines, & Shenhar 2009). The report aims at reflecting
on individual entrepreneurial characteristics predicted upon the online psychometric tool —
General Enterprise Tendency test. The report will also provide a brief account of influences on
personal traits from family background, education, and work experience as well as offer an
analysis of one's qualities and the implication of these characteristics for career aspirations.
Discussion
Personal Reflection
The General Enterprise Tendency test is an online psychometric assessment that offers an
individual with an idea of one’s enterprising capabilities based on five traits. The traits are the
need for accomplishment, desire for independence, creativity, risk-taking, and power of control.
Overall, I scored 83%, implying that I am highly enterprising. A score of 83% depicts that I have
a high tendency to venture into new business and manage innovative business plans and projects.
I have a strong desire to accomplish what I have started, and I like being in charge, seek

Entrepreneurship and Small Business Management 3
opportunities, and utilizing resources to attain my plans. I believe in possessing, and I am highly
innovative and willing to take ...


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