Analysis Of An Entrepreneur Essay

It is true when Chell et al quotes the job of designation of an enterpriser has been confounded by the fact that there is no criterion, universally recognized definition of entrepreneurship. No person is the same, therefore there being no one criterion account for entrepreneurship.

This study will consist of the analysis of an enterpriser, A adult male really beloved to me, My Father, Mr. Wasif.A. Wasif. Being originative and advanced is non the lone exclusive intent of entrepreneurship ; instead an person who can pass on a idea into action is in embedded in it every bit good. The undermentioned study will cover the background of Mr. Wasif, his determination to get down up the concern and eventually the direction and development of his new venture.

Mr. Wasif, an Egyptian National Born and raised in the Kingdom of Bahrain graduated with a Bachelors Degree in Mechanical Engineering and Drawing. As a school pupil, he took on portion clip occupations in different types of employment such as Buying Assistant, Telephone Operator, Bell boy, Carpenter Assistant and so on. It can be determined that roots of entrepreneurial traits such as difficult worker and analytical ability as demonstrated by Gibb ( 1987 ) and resourcefulness and flexibleness as demonstrated by Hornaday ( 1982 ) were established in him at a really early phase of his life.

As a fresh Graduate, his first occupation was that of a Gross saless Manager. However, due to alter in the central office location and direction, Mr. Wasif had to vacate. Left unemployed for rather a long clip, he had decided to switch into a different line of concern of Civil Engineering which he had no anterior cognition of. Without any 2nd ideas, fright or uncertainty, Mr. Wasif took on the challenge back uping Baumback ( 1979 ) theory of an enterpriser being a challenge taker. He had the desire to larn and was bent on accomplishing and wining in his project as per McClelland ( 1961 ) .

The company he had received employment in was unknown and unsuccessful but the lone company in the part that was engaged in building and trading during that clip. Despite this drawback, his thrust to accomplish and motive to stand out as per Timmons ( 1994, p.191 ) enabled him to derive cognition in the peculiar field and through his attempt made the company acknowledgeable. However, the felicitousness did non last for excessively long, upon making the satisfaction of being able to take on this challenge, the company shut down ensuing in Mr. Wasif losing his occupation.

Mr. Wasif faced a batch of troubles as he was made redundant and his married woman was pregnant with his first kid. Burdened by the state of affairs and the feeling of failure, he faced the job of holding to get down from abrasion all over once more. Nevertheless, Due to the shuting down of the house he was antecedently employed in, the state would outsource building companies. There was a spread in the market place and Mr. Wasif had perceived the chance for this demand which in conformity to Kirzner ( 1980 ) prescribes the chance watchfulness and timing of action component of an enterpriser.

Hence, the determination to get down up his ain concern was developed. This, nevertheless did non come along his manner easy as the jurisprudence of the state restricted him to make so ; the jurisprudence permits merely the citizens of the state to put up their ain concern and being an Egyptian national was a stumbling block in his manner. In order to get the better of this trouble, Mr. Wasif originated his concern with a Bahraini National who was merely a dormant spouse of the house so as to enable him to obtain a licence to get down his operations. Mr. Wasif was the whole and psyche of the company. It can be remarked that Mr. Wasif is an person who is non battered by any hurdle instead it is his positivity, optimism and ego assurance in understanding with Welsh and White ( 1981 ) that enables him to continue and progress to higher degrees.

Therefore it can be analyzed that his determination to get down up the concern is based on the undermentioned three theories. “ The Unemployment and Recession- Push Theory ” harmonizing to Binks and Jenning ( 1986 ). “ You do n’t cognize what you have, until it ‘s gone ” the cliche quotation mark, nevertheless irrelevant to the topic is really true in this instance whereby it was merely upon losing his occupation, Mr. Wasif thought of the thought of going an enterpriser. Furthermore, the beginning of his concern thought was besides influenced through his workplace experiences as he was in involved in the same industry as his old employment which is in conformity to Super ‘s ( 1963 ) theory of calling development. And eventually demand for such industry in the market after the closure of his old employment concern, there was no other house in the part involved in the same field.

As Timmons ( 1989: 1 ) quotes that entrepreneurship is “ the ability to make and construct something from practically nil. Is it originating, making, accomplishing, and constructing an endeavor or organisation, instead than merely watching, analysing or depicting one. It is the bent for feeling an chance where others see pandemonium, contradiction and confusion ”. It is this definition of entrepreneurship that best relates to Mr. Wasif whereby the chief point of accent is that despite being faced with troubles, he was able to develop an thought and make it without any cognition gained via instruction ( practically nil ) but from his ain difficult earned attempt and finding.

Overtime, Mr. Wasif had obtained the Bahraini citizenship, and now operates a company of his ain under the name “ Marimina Construction and Trading ” . The concern consists of importing natural stuffs harmonizing to client specifications and eventually building and installing. Mr. Wasif deals with providers across many parts such as the U.K ( Berlite, Mineralite, COLT ) , Switzerland ( Arsular Mittal ) and the Middle East ( Brightstar, TSSC, Rigidal ) .

Harmonizing to Carson et Al. ( 1995 ) , the relationship direction and ability to keep webs from his old occupation was the cardinal factor that enabled Mr. Wasif to go a profitable venture. He is the 1 adult male show of the company who takes charge of the full operations of the house. He built the organisation with his ain financess and without any external beginning of finance. This coincides with Smith ‘s ( 1967 ) theory of a craftsman-entrepreneur because with his limited instruction he runs his concern dictatorially declining to depute authorization and positions any external beginning of recognition as a menace to his liberty. Mr. Wasif quotes “ I am my ain foreman ” showing his demand for liberty, independency and in control of everything as per Caird ( 1991 ) ; Cromie and O’Donoghue ( 1992 )

As mentioned earlier, going successful was non an easy undertaking for Mr. Wasif. In add-on to the troubles he had to face, Mr. Wasif had to give up a batch of his household clip. His married woman played a really important function in footings of moral support. Taking his freshly born babe to his office and working late darks. This illustrates a considerable strain on his personal life “ Loneliness of the Entrepreneur ” . His entire committedness, finding and doggedness as per Timmons ( 1985 ) features, nevertheless, has enabled to make where is now.

Mr. Wasif relates most to the “ New Entrepreneur ” type as illustrated by Lessem ( 1986b ) as he had the will to accomplish, and took on the chance of demand in the market for a building house who converted an bing concern into a higher executing one via his ain company.

The type of entrepreneurial civilization that is instilled in the concern is that of “ Independence, Flexibility & A ; Control ” and “ Holistic direction ” as illustrated by Gibb ( 1987:26 ) . Bing the lone proprietor of the concern Mr. Wasif, has the freedom to use any method of operation without any limitation within the bounds of the jurisprudence with the determination devising procedure done entirely by him. Furthermore, he controls all the maps of the house, therefore enabling him to hold an overall cognition about all the mechanisms and functional activities. Therefore, it could be concluded that the type of venture being managed by him is that of a “ Simple Organization ” that meets Mintzberg ‘s ( 1983 ) demands which is limited and dependent to the function of the proprietor, extremely adaptative and advanced.

The Kingdom of Bahrain, being a really little island, lacks in the specialisation of many different professions. However, Mr. Wasif took on this nothingness and transformed it into an chance by conveying in new and advanced building stuffs and engineerings into the Bahraini part, therefore heightening the efficiency of the state. Furthermore, his technique of carry oning his operations differ from the other houses for illustration usage of stagings, which specializes him in this line of concern. This theory relates most to Deakins ( 1996 ) hypothesis of invention.

As a consequence, this leads to making value for his clients. Furthermore, his merchandises are as per client specifications therefore increasing the proficiency of his concern. His degree of expertness is non limited to this, Mr. Wasif provides an first-class after gross revenues service and follows up with his clients to obtain feedback for betterments, if any and guarantee their satisfaction exemplifying his service consciousness meeting Peters ( 1987 ) and Hornaday ‘s ( 1982 ) theory and effort to construct personal dealingss with his clients.

In footings of enlisting of labour force, Mr. Wasif ensures to hold the best, extremely trained professionals recruited through a recruiting bureau which had undergone a procedure of uninterrupted interviews, practical testing, and eventually assignment of the extremely qualified labour force. The relationship between him and his employees is similar to that of Appell ( 1984:173 ) which comprises of regard, trust and equality exposing involvement in their demands. Therefore, the leading manner imposed by him is that of a transformational leader as illustrated by James MacGregor Burns ( 1978 ) instead than a transactional leader. For every undertaking undertaken, a wages system is present. However, this is non limited to lone fillips but stretches out to acknowledgment, duties and publicities as per Hertzberg ( 1968 ) which encourages increased committedness, and dedication to the house. Furthermore, ensuing in sing their occupation through a different position which is non a load, everyday beginning of income instead a profession they enjoy set abouting.

In instance of any struggle arises, Mr. Wasif does non avoid it ‘s being instead tackles it by analyzing the state of affairs and developing results that are functional as illustrated by Timmons ( 1999:222 ) that enterprisers are adaptative to conflict declaration.

The relation of there being no standard definition to entrepreneurship can besides be linked with regard to put on the line taking ability of each enterpriser. Harmonizing to Miner ( 1997 ) , in order to avoid any hazard Mr. Wasif takes the enterprise to preplan his plants. For illustration, Given his line of profession, the hazard of hurts and casualties is really high, hence, he follows the wellness and safety criterions in order to avoid any such fortunes. However, he has the ability to be after in progress, manage and extenuate it showing his penchant of taking on deliberate hazards that collaborates with Caird, 1991 ; Cromie and O’Donoghue, ( 1992 ) .

As the celebrated Albert Einstein quotes “ Intellectual growing should get down at growing and cease merely at decease ” . This is the attitude that persuades Mr. Wasif to travel on and non restrict himself to a certain country. His innovativeness has lead him to spread out his concern to different watercourses such as design, swimming pools, overhead sectional doors, standing seam systems and so on. He is considered as a high growing single and is categorized as “ The Dynast ” harmonizing to Birley ( 2000a ) since he wants to turn to be able to go through it on to his boy. In order to make so, he continues to go to seminars, exhibitions on a regular basis all around the universe to increase his promotion.

Over the old ages, as competition has developed and increased in the part, Mr. Wasif strives to stand out and be the best in the market. To vie, he follows two schemes as demonstrated by Porter ( 1985 ) . One that of “ Low cost leading ” by supplying competitory and cheaper monetary values. Second, that of “ Differentiation ” in his method of transacting his operations such as completion of undertakings in shorter periods of clip and handling of large undertakings with limited figure of work force. These schemes enables him to hold a competitory advantage over the other houses.

Despite the available competition in the same industry, his company stands to be the best, good known and most accepted concern in eyes of both the private and public sector. Under no fortunes he deviates from merchandise quality criterions exemplifying his consciousness approximately quality as per Peters ( 1987 ) and at the same clip he stakes his repute on the quality of his merchandises which is in conformity to Smith ( 1967 ) . Today, Mr. Wasif is known as “ The King of Cladding ” in the Kingdom of Bahrain. Despite being the lone house during that clip, He was and still continues to be good known for his really sensible and economical monetary values in the market ; Supplying the best economical monetary values and merchandises in order to carry through the demands of his clients. Stressing on the fact that money is non the factor that motivates him which relates to McClelland ( 1961 ) theory on N-Ach disliking to be in a monopolistic state of affairs.

From the above analysis it can be extracted that Mr. Wasif uses his “ Left encephalon ” harmonizing to Sperry ( 1968 ) ; Ornstein ( 1977 ) as he analytical, logical and mathematical because of his line of concern. Furthermore, he is end oriented since he sets his ends and persuades accomplishment.

Whilst carry oning the interview with Mr.Wasif, it was observed that the following two quotation marks from successful enterprisers best suited him.

“ I had to do my ain life and my ain chance! But I made it! Do n’t sit down and wait for the chances to come. Get up and do them! ” quoted Madam C.J. Walker, Godhead of beauty merchandises and the first female self-made millionaire. Mr. Wasif is an enterpriser instilled with a mission, thrust to win and hard working abilities. His strive towards excellence, dedication and committedness to his calling has lead him to where he presently is. He is an person who does non wait for the chance to walk towards him instead he ‘d trail it and give it his best attempts.

“ To be successful, you have to hold your bosom in your concern, and your concern in your bosom. ” quoted Thomas J. Watson. Mr. Wasif has a high degree of trueness towards his clients and dedicates his bosom and head to his work. He receives the most esteemed and landmark undertakings. Until this twenty-four hours and frontward, he continues to be a really successful enterpriser and has a branded image in the market.

The British School of the Classical Economists attack of the function of the enterpriser by Adam Smith ( 1723-90 ) and David Ricardo ( 1772-1823 ) quotes that “ the enterpriser has the disposition, proficient cognition and the capital power to make wealth ”. To reason, Mr. Wasif is a adult male with position that roots in him the pick roles resumed in a laminitis i.e. an enterpriser, director and functional person as demonstrated by Chandler and Jansen ( 1992 ).

Appendix

The followers is an interview between enterpriser, Mr. Wasif and I which was conducted over the telephone.

Background of the enterpriser

What did you analyze?

I graduated with a grade in Mechanical pulling & A ; Engineering.

Did you undertake any portion clip occupations while analyzing?

During my school vacations, I worked as a bell male child, telephone operator, carpenter helper, pipe fitter helper, JCB operator, Buying Assistant.

What was your first occupation?

After I graduated, I got a occupation as a Gross saless Manager, but because of the company ensuing in altering their central offices location to the UAE, I had to vacate.

the determination to start-up the concern

What was your triggering event that made you decide to set up your concern?

My adversities started from here because I could non happen a occupation so I decided to alter my line of specialisation which was Civil Engineering. I had no hint about this field. I got a occupation in a company that was non really successful. I worked really difficult to advance the concern. However, due to direction differences, the company shut down and I lost my occupation. My married woman was pregnant by so and I felt like a failure so. That ‘s when the determination to get down up my concern came up. After the closure of the company, there was no other house engaged in the same field. Therefore, I took the chance and decided to get down up my concern.

Were there any troubles you faced to get down up?

Yes, Since I was an Egyptian national, the state ‘s jurisprudence does non let any nationality except for Bahraini ‘s to put up their ain company.

How did you get the better of this trouble?

I opened up my concern with the aid of a Bahraini citizen but I was the psyche of the concern and invested all my money into the concern. Finally when I got the Bahraini citizenship, I opened up the concern under my ain name named “ Marimina Construction and Trading.

What is your concern?

I import building natural stuffs from different states as per client demands and put in and build them.

Did you receive support to get down up your concern?

Yes, My married woman provided me with a batch of moral support and was at that place by my side even during the difficult times and ne’er gave up on me.

Did you sacrifice anything in order to accomplish your end?

Yes, I had to give up a batch of my household clip, work late darks in order to make where I am now.

the subsequent direction and development of the new venture ( E.g. Craftsman, Opportunistic enterpriser )

What was your method of enlisting?

I recruited my staff via advertizements and through a recruiting bureau. Each employee had undergone a thorough procedure of interviews, proving in building sites in order to name the best labour force.

If any job arises, how do you decide it?

I study the affair exhaustively and work out it, I do non run off from my job instead I tackle them and guarantee I overcome the issue.

How make you set for hazard?

I ever preplan my work in order to avoid any hazard.

Do you hold any wages system for your employees?

Yes, for every undertaking I provide fillips and I appreciate good work by acknowledging the employee and advancing them.

Who makes the determinations of the house? and how?

“ I am my ain foreman ” . I make the determinations of the company. I study the affair good, measure it and so make up one’s mind. I ‘d instead take my clip to do my concluding determination to minimise the possibility of any hazard and guarantee the right pick has been made.

Make you see money as an of import factor for accomplishment?

No, My company sells the most inexpensive merchandises. What matters to me the most, that I ‘ve achieved my ends and go successful. Furthermore, the most of import thing for me is the quality and my clients satisfaction.

Make you wish to spread out your concern?

Yes, I have already expanded into different sectors and I wish to go through on my concern to the following coevals.

Readings

Kirby, D. ( 2002 ) Entrepreneurship, London ; McGraw Hill

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