Self-Reflection on Entrepreneurial Personality

Self-Reflection on Entrepreneurial Personality By submitting this piece of work I confirm I am aware of, and comply with University and Programme Requirements and regulations regarding Examination and Assessment Offences and that I am not party to any behaviour which could be construed as an assessment offence. I am aware that if I, or any member of my group transgress these regulations that the entire group could be found guilty of an academic offence. The last decades have witnessed the most dynamic emergence of entrepreneurial activity worldwide and the interest in entrepreneurship has increased significantly. No sector of economy has grown as vital, powerful and creative as entrepreneurship. (Kaplan, 2003). What is Entrepreneurship? The ability and motivation to form something from practically nothing is entrepreneurship. Moreover it is the willingness and steely determination to build an enterprise and handle risks and do everything possible to get the odds in your favor (Timmons, 1989). What is an Entrepreneur? The term entrepreneur had his beginning in the 17th-century and comes from the French word â€Å"entreprendre† and is usually a sole proprietor, a partner or a majority shareholder in an incorporated venture (Rowland, 2015). I have potential to be an Entrepreneur, because of my tested competencies! Different models can be used to identify what your personal traits are. Each model or test assesses particular attributes for entrepreneurial characteristics. One model is the â€Å"Entrepreneurial Traits Wheel† that depicts some traits an entrepreneur or an enterprising person may have. My self-evaluation (Figure 1 / Appendix 1, p.6) shows that I ´m a proactive person with a strong vision and flair. Moreover I ´m self-confident and prefer to solve problems. Furthermore I very goal oriented, a team player and a motivator to overcome difficulties. Thus my not innovated skills I ´m a motivated and communicated decision maker. The T-P Leadership questionnaire indicates that I ´m more laissez-faire than autocratic. I prefer a more morale than productivity style. Nevertheless I have a moderate high shared leadership style with a high morale and moderate high productivity behavior (Appendix 2, p. 7). Related to the Thomas-Kilmann (Appendix 3, p.10) test my profile indicates in various situations a good repertoire of useful social skills. A further test to evaluate entrepreneurial characteristics is the â€Å"General Enterprising Tendency† (GET) test. The results of my test show only in one particular section an average score (Appendix 4, p.16). All other sections assess a nearly maximum score. Summarised the tests underline the argument that I have entrepreneurial skills. But these are only theoretical results. I have potential to be an Entrepreneur, because of my working experience and our family business! To be entrepreneurial is to be inspired and capable of creating opportunities for oneself. To be an entrepreneur is one of the interesting and most exciting things. But it is not easy to start and maintain your own business. The best example in this case is my father. In our family it is a kind of tradition to have an entrepreneurial thinking. In 1963 my grandfather founded the logistic company â€Å"HTS Hà ¼ttges Tranport-Service†. Meanwhile my father manages the company since 1986 and I am working part time during my study in my father’s office. But I have already worked for other companies (Appendix 5, p. 22). To start, I did my apprenticeship as an industrial management assistant at Friesland Campina from 2005 to 2008. Friesland Campina is a worldwide Joint Venture who manufactures milk products. During this time I worked in different areas in the company such as the sales, purchasing, marketing, accounting and controlling department. After my apprenticeship I stayed in the company and was taken in the purchasing department from 2008 to 2010. In these two years I was responsible for the purchase of packaging and raw materials. At that time I was 22 years old and had a huge responsible position in this company, because when my disposition was poor the production plant couldn ´t produce their planned qua ntity. But I grew with the task and became more and more responsibilities. So, I earned the ability to lead negotiations with suppliers and hold presentations during important meetings. Also during my Bachelor study in the Netherlands I have expand my competencies. In the first semester we had to write a business plan and had interview a general manager to analyse the company. Moreover I was general manager and finance director of a project team in reference of a study project named â€Å"Mini Company† at the Fontys International Business School in the Netherlands. We had to found a real company for one semester with real market conditions. We had to sell company shares to get money and had a real entry in the Netherlands Commercial Register. Our student company â€Å"Nature Arts† was very successful and a good investment for our shareholders. We won a price from the â€Å"Jong Ondernemen† organization for the one of the best Mini Company (Appendix 6, p.23). At the end we could disburse them with a dividend of 30â‚ ¬. A further experience which could be beneficial to an entrepreneurial career was the internship during my study at the METRO GR OUP. The METRO GROUP is the one of the biggest wholesaler worldwide such as Tesco. I worked in the Corporate Planning Controlling department. It was a hard time and with long business days. I worked in different teams with different educational and cultural backgrounds. But this was an experience I ´ll never want to miss. This work experience was excellent to prepare for higher duties later. Now I ´m 28 years old and had the fortune to witness a good education. The following figure (Figure 2 / Appendix 7, p.24) illustrates my personal life path. Figure 2: Life Path Chart Felix Freericks Source: Own Illustration, 2015 Certainly I have weaknesses. Nobody is perfect. Certainly I have weaknesses and also experience with some difficult situations during my life. One Example is the language barrier. Therefore to improve my language skills such as English I study abroad and live in a residential community with only international native speaking people. I hope after my study I have improved my English skills to be confident in business discussions. Another Weakness is the motivation in some areas. Sometimes I fall in a deadlock and it’s difficult to motivate myself to change the current unsatisfied situation. In this case I have a high potential for improvement. The life is a long-life-learning process. Hence, I have to learn from my mistakes and try to avoid them in the future. My dream is to follow in one ´s father ´s footsteps hopefully. But Dreaming a dream is one thing, but bringing the dream to market is another dimension entirely. Therefore I early recognised to have to study to become a well-educated manager with managerial responsibility. Through the experience in the last nine years and hopefully in the common years I will learn how to manage and maintain a business. I see myself as an enterprising person, because even now I use the learning and experience to benefit my father ´s company in other ways. This attitude is crucial to your success at this early stage. Once my father said to educate yourself you have to be open-ended and focused to provide the freedom necessary to explore unexpected leads. My personal work experience in different companies has shown that’s difficult to manage a company. But I am hopefully ready for this challenge in a few years. References Kaplan, J. M., 2003. Patterns of Entrepreneurship, s.l.: John Wiley Sons. Rowland, M., 2015. www.businessdictionary.com. [Online] Available at: http://www.businessdictionary.com/definition/entrepreneur.html#ixzz3SD5CxrBQ [Accessed 16 2 2015]. Timmons, J., 1989. The Entrepreneurial Mind. In: Andover: Brick House Publishing, p. 1. Appendix 1: Entrepreneurial Skills Wheel Appendix 2: T-P Leadership Questionnaire: An Assessment of Style The following items describe aspects of leadership behavior. Respond to each item according to the way you would most likely act if you were the leader of a work group. Circle whether you would most likely behave in the described way: Always = A, Frequently = F Occasionally = O, Seldom = S, or Never = N. A F O S N 1. I would most likely act as the spokesman of the group. A F O S N 2. I would encourage overtime work. A F O S N 3. I would allow members complete freedom in their work. A F O S N 4. I would encourage the use of uniform procedures. A F O S N 5. I would permit the members to use their own judgment in solving problems. A F O S N 6. I would stress being ahead of competing groups. A F O S N 7. I would speak as a representative of the group. A F O S N 8. I would needle members for greater effort. A F O S N 9. I would try out my ideas in the group. A F O S N 10. I would let the members do their work the way they think best. A F O S N 11. I would be working hard for a promotion. A F O S N 12. I would tolerate postponement and uncertainty. A F O S N 13. I would speak for the group if there were visitors present. A F O S N 14. I would keep the work moving at a rapid pace. A F O S N 15. I would turn the members loose on a job and let them go to it. A F O S N 16. I would settle conflicts when they occur in the group. A F O S N 17. I would get swamped by details. A F O S N 18. I would represent the group at outside meetings. A F O S N 19. I would be reluctant to allow the members any freedom of action. A F O S N 20. I would decide what should be done and how it should be done. A F O S N 21. I would push for increased production. A F O S N 22. I would let some members have authority, which I could keep. A F O S N 23. Things would usually turn out as I predicted. A F O S N 24. I would allow the group a high degree of initiative. A F O S N 25. I would assign group members to particular tasks. A F O S N 26. I would be willing to make changes. A F O S N 27. I would ask the members to work harder. A F O S N 28. I would trust the group members to exercise good judgment. A F O S N 29. I would schedule the work to be done. A F O S N 30. I would refuse to explain my actions. A F O S N 31. I would persuade others that my ideas are to their advantage. A F O S N 32. I would permit the group to set its own pace. A F O S N 33. I would urge the group to beat its previous record. A F O S N 34. I would act without consulting the group. A F O S N 35. I would ask that group members follow the standard rules and regulations. T13P13 Appendix 3: Thomas-Kilmann Conflict Mode Questionnaire Consider situations in which you find your wishes differing from those of another person. How do you usually respond to such situations? On the following pages are several pairs of statements describing possible behavioural responses. For each pair, please circle the A or B statement which is most characteristic of your own behaviour. In many cases, neither the A nor the B statement may be very typical of your behavior, but please select the response which you would be more likely to use. 1. A. There are times when I let others take responsibility for solving the problem. B. Rather than negotiate the things on which we disagree, I try to stress those things upon which we both agree. 2. A. I try to find a compromise solution. B. I attempt to deal with all of anothers and my concerns. 3. A. I am usually firm in pursuing my goals. B. I might try to soothe the others feelings and preserve our relationship. 4. A. I try to find a compromise solution. B. I sometimes sacrifice my own wishes for the wishes of the other person. 5. A. I consistently seek the others help in working out a solution. B. I try to do what is necessary to avoid useless tensions. 6. A. I try to avoid creating unpleasantness for myself. B. I try to win my position. 7. A. I try to postpone the issue until I have had some time to think about it. B. I give up some points in exchange for others. 8. A. I am usually firm in pursuing my goals. B. I attempt to get all concerns and issues immediately out in the open. 9. A. I feel that differences are not always worrying about. B. I make some effort to get my way. 10. A. I am firm in pursuing my goals. B. I try to find a compromise solution. 11.A. I attempt to get all concerns and issues immediately out in the open. B. I might try to soothe the others feelings and preserve our relationship. 12.A. I sometimes avoid taking positions which would create controversy. B. I will let another have some of their positions if they lets me have some of mine. 13.A. I propose middle ground. B. I press to get my points made. 14.A. I tell another my ideas and ask them for theirs. B. I try to show him the logic and benefits of my position. 15.A. I might try to soothe the others feelings and preserve our relationship. B. I try to do what is necessary to avoid tension. 16. A. I try not to hurt the others feelings. B. I try to convince the other person of the merits of my position. 17. A. I am usually firm in pursuing my goals. B. I try to do what is necessary to avoid useless tensions. 18.A. If it makes the other person happy, I might let them maintain their views. B. I will let the other person have some of their positions if they let me have some of mine. 19.A. I try to get all concerns and issues immediately out in the open. B. I try to postpone the issue until I have had some time to think it over. 20.A. I attempt to immediately work through our differences. B. I try to find a fair combination of gains and losses for both of us. 21.A. In approaching negotiations, I try to be considerate of the other persons feelings B. I always lean toward a direct discussion of the problem. 22.A. I try to find a position that is intermediate between mine and another persons. B. I assert my wishes. 23. A. I am often concerned with satisfying all my wishes. B. There are times when I let others take responsibility for solving problems. 24. A. If the others position seems important to them, I would try to meet their wishes. B. I try to get the other person to settle for a compromise. 25.A. I try to show the other person the logic and benefits of my position. B. In approaching negotiations, I try to be considerate of the other persons wishes. 26.A. I propose a middle ground. B. I am nearly always concerned with satisfying all my wishes. 27.A. I sometimes avoid taking positions that would create controversy. B. If it makes the other person happy, I might let them maintain their views. 28.A. I am usually firm in pursuing my goals. B. I feel that differences are not always worth worrying about. 29.A. I propose middle ground. B. I feel that differences are not always worth worrying about. 30.A. I try not to hurt the other persons feelings. B. I always share the problem with the other person so that we can work it out. SCORING THE THOMAS-KILMANN CONFLICT MODE QUESTIONNAIRE Appendix 4: The Duham University General Enterprising Tendency (GET) Test Appendix 5: Part of Curriculum Vitae Felix Freericks Working Experience 02/2014 – 06/2014MSK Verpackungs-Systeme GmbH Bachelor thesis in the purchasing department Implementation of a key performance indicator system 08/2012 – 02/2013Metro AG Internship student employee in the Headquarter Controlling department Forecast- Budget reports Reporting Implementation of a reporting-tool for analysing the reporting structure 04/2010 – 02/2012Altenheim St. Marien gGmbH Assistance of the Board of Managements Finance Accouting tasks 01/2008 – 04/2009Friesland Foods Deutschland GmbH Purchaser Purchasing of raw packaging materials Negotiation Contracting Study 09/2010 – 07/2014Fontys International Business School Venlo, NL Study: International Business Economics Bachelor-thesis: Implementation of a key performance indicator system (Grade: 8,0) Graduation: Bachelor of Business Administration (7,4) Apprenticeship 08/2005 – 01/2008 Friesland Foods Deutschland GmbH Apprenticeship as an industrial management assistant Appendix 6: Certificate of Jong Ondernemen Appendix 7: Life Path Felix Freericks Statement of Authenticity We hereby solemnly declare, that we ourselves wrote this coursework, without the assistance of any third party; that in this report, we identified and specified all direct literal quotes from literature and indirect quotes (ideas, indirect quotations) from other authors. We are fully aware that any violation of this code may result in disadvantageous consequences for us. If fraud can be proved, we will be required to bear the costs of investigation into and sourcing of the original document. Plymouth, 23rd February 2015 Felix Freericks