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Entrepreneurship

A recent study has found out that more than merely the personality of the entrepreneur in question, the success or not of any organization is largely much more democratic. It depends on the entire force as well as something unseen – destiny. All entrepreneurs, indeed all people generally hold a default position, to step beyond the controllable factors is entrepreneurship of a type. Among entrepreneurs, there are explorers, drivers and analysts. Mark Zuckerberg may be defined as an explorer as he set in motion an innovation which got perfected over time. An analytical person may face the crunch of overdoing the analysis and perhaps looking at each individual simply as a number. There are crusaders who are extremely passionate about the corporate strategy they develop. However, this excess passion can lead to an unscientific manner of talent recruitment, retention and development. Steve Jobs is an example of a driver as he was not just a visionary but an executioner of his ideas. Such types never see themselves as entrepreneurs but as part of a whole. Another type are the captains. They like to lead teams by speaking as oneself being part of the team rather than as a figurehead. They are often known to be indecisive.

Source:https://hbr.org/ideacast/2017/06/which-type-of-entrepreneur-are-you?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+harvardbusiness+%28HBR.org%29

Uploaded Date:10 July 2017

Jeff Bezos, the founder of Amazon recently wrote a letter to the shareholders of the company highlighting their targets. Amazon prides itself on not only being a customer-centric but in fact a customer-obsessed company. Bezos says there are companies that focus on the competitors, others who focus on the technology, yet others who stay loyal to the corporate strategy or business model. At Amazon, it was the customer whose importance was paramount. Customers as a principle tend to be dissatisfied anywhere, so maximum needs to be done to meet their needs. Good processes need to be put in place to maximize satisfaction. That is why good inventors or designers create products attuned to the needs of their customers. External threats such as technological ones need not be feared but embraced for their novelty. Amazon’s Alexa is already a leading application in Machine Learning.

Source:http://innovationexcellence.com/blog/2017/04/21/a-peek-inside-the-mind-of-jeff-bezos/

Uploaded Date:02/06/2017

A lot of successful entrepreneurs have unfortunately fallen prey to depression. While the symptoms may not vary much from conventional depression, company founders have been found to be prone to the same by thirty percent more. This has multiple possible reasons, most pertinent being the fact that many founders are not cut out for entrepreneurship but simply stumbled on to it due to some cutting edge business innovation they proposed and then executed. Some founders may by nature be introverted but be forced to network during fundraiser meets, with industry peers and mange people. Founder depression hurts the business on multiple fronts. Some methods have come up which can help founders cope with this kind of constant stress. First of all, the talent recruitment is critical and such people must be hired who complement founders’ personality traits. The founder has to do some form of research to gauge the signs of depression before they become chronic with themselves or their team members. Finally, a restorative niche as psychologists term needs to be decided upon. This is a zone where the founder can detach themselves to return with renewed vigour.

Source:https://hbr.org/2017/02/how-founders-can-recognize-and-combat-depression?referral=00563&cm_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm_source=newsletter_daily_alert&utm_medium=email&utm_campaign=alert_date&spMailingID=16590729&spUserID=OTY0OTMwNTk5NwS2&spJobID=961412758&spReportId=OTYxNDEyNzU4S0

 

Social entrepreneurs need mentors to guide them through the tough times and counsel them of effective ways. It helps them avoid the usual pitfalls. Mentors have gone through such initiatives of several other people in the past, and so are aware about the hurdles these social entrepreneurs are likely to face at each stage. These mentors provide the entrepreneurs with the right doze of management training. Mentors are also usually very well connected and can help the subject get in touch with several key stakeholders. This could be useful for securing donors, marketing, strategic partnerships or sourcing final customers even. Mentors will also weed out common execution gaps so the social entrepreneur will be effective in leading people, developing programmes and earning business projects.

Source:http://www.forbes.com/sites/toriutley/2017/01/25/3-reasons-why-social-entrepreneurs-need-a-mentor/#192ca8fd7525

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