Self-Assessment: Successful Entrepreneurship Research Paper

Pages: 22 (6498 words)  ·  Bibliography Sources: 29  ·  File: .docx  ·  Level: Corporate/Professional  ·  Topic: Business  ·  Written: March 29, 2019


Prior failings, limitations, or frustrations are considered history, to ensure they cease to impede the future or plague the present. When everything works right and the enterprise flourishes, the entrepreneur’s positive attitude and confidence is further boosted. This affords drive and incentive for bigger achievements, besides increasing hope.

10) Gregariousness

As people are the central entity of all enterprises, entrepreneurs typically have a sociable disposition. They eagerly share their ideas, services and goods, and spread this excitement to customers, subordinates, friends, and others within as well as outside the business domain. Furthermore, hardworking businesspersons delight in the unique opportunities linked to doing what they love for a living. HR specialists, business psychologists, and career counselors are all in agreement that individuals in roles they excel at or like doing enjoy greater satisfaction and success. Their personal experience causes them to typically be high-spirited inside as well as outside the company premises.

11) Leadership by Example

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An entrepreneur leads by way of self-motivation (i.e., in the form of a self-starter who enthusiastically takes up a project), in addition to skillfully leading subordinates. He/she grasps the significance of collaboration and appreciating, supporting and rewarding subordinates. Successful entrepreneurs make sure they alone aren’t indispensable to a firm to the extent that, if they are absent, everything will fall apart. Failure to do so means never rising to the greatest rank of entrepreneurial prosperity and independence. More importantly, a good entrepreneur makes sure he/she never wastes subordinates’ potential. In the words of Perry Smith, famous ex- Major General of the US Air Force and business consultant, “Leaders who share their power and their time can accomplish extraordinary things. The best leaders understand that leadership is the liberation of talent; hence they gain power not only by constantly giving it away, but also by not grabbing it back.”

TOPIC: Research Paper on Self-Assessment: Successful Entrepreneurship Assignment

12) Not Afraid to Take Risks to Succeed

A large number of individuals would succeed if only they were bold enough to take chances. Also, several who do take a risky step and find themselves on the brink of success balk at the last minute and retreat to their comfort zone (i.e., small-scale business). Personnel typically keenly seek security and hold on to the familiar; such individuals give up their dreams owing to inadequate ambition and determination – a trait true entrepreneurs possess in abundance. While an entrepreneur is not totally resistant to fear, he/she makes sure this fear of failing, disappointments, tedium, and toil prevails over the enduring fear of succeeding.

Overview of the Qatari entrepreneurial ecosystem

Qatar’s economy has developed swiftly since the latter part of the 1990s, on account of increased hydrocarbon production, thanks to North field gas extraction. Hydrocarbon production is largely responsible for the nation’s GDP growth, socioeconomic growth, extant money, and governmental budget surplus (Gangi, 2017). The nation has witnessed never-before-seen economic growth rates over the last twenty years, sometimes going above ten percent.

However, a noteworthy point is: Qatar’s reliance on solely hydrocarbon production placed it at immense risk. The nation understood this fact and decided upon economic diversification for alleviating the risk, transforming itself into a knowledge-founded economy where a crucial part is played by private sector enterprises. Indeed, diversification of income and creation of a knowledge-founded economy has been highlighted as one among the main aims of the Qatar National Vision (QNV) 2030, unveiled in October of 2008 (Welter et al., 2017; Faghih & Zali, 2018). QNV attempts to transform the nation into one that is socially and economically developed by the year 2030; the nation ought to be able to maintain its development, together with high living standards, for the whole of its population for several decades into the future.

The Qatari nation has started taking steps for guiding startup firms along the right direction. For instance, the governmental organization, EQ (Enterprise Qatar), aims at improving the nation’s entrepreneurial climate and increasing its viability for ensuring entrepreneurs’ voices are heard and they can play a major part in the national economy. Additionally, the QSTP (Qatar Science and Technology Park) has introduced an Executive Entrepreneurship Certificate Program through which it aims at functioning as the incubator for new foreign and domestic entrepreneurs and enterprises (Faghih & Zali, 2018). Yet another example is the QDB (Qatar Development Bank) which was instituted for promoting and funding small- to mid-sized enterprises. Lastly, the Roudha and Bedaya Centers provide mentoring services to startup companies.

Owing to such encouragement, Qatari youngsters appear to be displaying an interest in entrepreneurship. A new Gallup-conducted Silatech Index analysis revealed that the Arab world has witnessed a dramatic decline in youngsters planning on pursing entrepreneurship of late. In the year 2009, twenty-six percent of young Arabs (between 15 and 29 years of age) were aspiring businesspersons or planning on commencing their own business within a year. Qatar alone (among all Arab world nations) has witnessed a steadiness or growth in levels of youth entrepreneurship in this period (young entrepreneur levels grew from 24 percent (2009) to 33 percent in two years) (Hsieh et al., 2019). A survey by Gallup discovered that the nation has a sounder youth entrepreneurship culture than all other Arab nations.

The attitude of Qatari nationals with regard to engaging in startup business ventures has been improving concurrently with the emergence of conducive entrepreneurship conditions within the nation. Roughly 66 percent of its citizens between the ages of 15 and 29 years claim to be personally acquainted with one or more individuals who can advise them on business management. Likewise, 74 percent of youngsters in the nation claim to trust somebody besides a family member to the extent that they are comfortable with entering into a business partnership with them (Hsieh et al., 2019; Faghih & Zali, 2018). Moreover, most Qatari youngsters admit that they have access to business commencement-related training (fifty-eight percent) and funds for starting a business (sixty-one percent).

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