And now is over..The module Entrepreneurship and New Venture Development has provided challenging prospect to not only improve my academic and practical business abilities, but also consider the critical success on my goals and personal development. The ENVD sessions were usually inspirational and analytically related.The benefits was created for us to be aware of daily business issues and how to have greater confidence in a business. It is like a development that is aimed in a certain reaction based on studies or research that has been done through all academic year.
During the very early first lecture,we concentrated on C.E.O. model of entrepreneurial activities.The aim of this aspect was to gain better understanding how does confidence, observation and experimentation come together to form innovation for entrepreneurship.Individually, I started to develop these skills by doing various activities within the group. By observing others we got task to identify their cognitive,emotional and physical needs in order to comprehend what is the problem and how to deal with it effectively.In any enterprise we should keep in mind that any issue which has occurred,we need find better solution to achieve advantage in competitive environment. As well as we had ‘Toothbrush day’, which purpose of the toothbrush was to understand how we testing ideas and how to find inspiration by doing experiments and being observant. In this that case we discovered how gaining empathy and understanding for users can happen through changing the activity, observing and trying it for yourself, and that this can give you insights for being more innovative and attractive.
As I had referred those three main needs to Maslow’s hierarchy of needs model.This is a simple assumption to understand motivation, management values and personal development in organization.The aim of the model is to provide understanding for managers that must involve the responsibility for employees positive workplace environment which will encourage them fulfill their self actualization within entity.It simply coming from the fact, that to meet the success we need to understand what we want,how we feel about it and how we going to do it.There are other needs security,safety, social, esteem and self actualization which influence behavior of employees to work. This is the basic feature of Maslow’s need hierarchy. Attention to all human needs is essential for motivation of employees.
Another step was how to make you pitch more demonstrative. In session was shown video called ‘The Girl Effect‘, which was great example of storytelling.Stories can inspire everything from understanding to action. Stories can inspire everything from understanding to action.They can create legends that integrate workplace culture can build upon, and they have the power to break down barriers and turn a bad situation into a good one.
Later on, I faced myself with work of Graham and Hamming, two individuals who has described how to overcome with good and bad procrastination to meet success significantly. When I have read the work of Graham I have understood that the question is not how to avoid procrastination, but how to procrastinate well.In such as manner my ‘to do’ list will contain most important stuff to have been done on time.On other hand Hamming was talking about how to manage good research and courage.These aspect really inspire to be in right position to always be confident and believe in yourself and your abilities.
Although another aspect was, Diego Rodriguez’s 21 Innovation Principles, which really helped to construct my analytical thinking skills.As our group principle were 18 ‘ Learn to orbit the hairball’.The principle states that you not trying change organisational structure by your way but trying to work within existing firms scale.Usually nowadays when organisation clutter around with rules consistently we as individuals loosing our uniqueness in terms of inspiration.So, mainly the business success depends on our creativity,the more we are innovative and be able make changes adequately the more business will achieve.
As from the work of the Christensen assumption is, instead of telling someone what to think, better is to teach how to think. He try to teach us how to imply theoretical aspects into the business. Frederick Hezberg was one of the most famous for introducing job enrichment and Motivation-hygiene factors. The theory drawing a distinction between hygiene factors and motivators that exist in the work environment and consequently their impact on employees motivation.In my opinion this theory must be widely used by many organization that will help for managers to understand that management should not only provide hygiene factors to keep their employees satisfied but ensure that the presence of motivators to the job itself that keep employees motivated. By extending opportunities which requires challenging responsibility, management can fully employ the ability and intellect of the each employee.
I really enjoyed this module and I hope all tools which I have learned from the sessions will stay with me for the rest of my life.
P.S Many thanks for our lecturer Corrine for the effort that she has put and for the hard work with us!
Huczynski, A & Buhanan, D. (2007) Organizational Behaviour. 6th edn. FT Pretince Hall.
Christensen, C. M. (2010) ‘How Will You Measure Your Life?’ Harvard Business Review, July [Online]. Available at: http://hbr.org/2010/07/how-will-you-measure-your-life/ar/pr# (Accessed: 5 May, 2012)
Graham, P. (2005) Good and Bad Procrastination. Available at: http://www.paulgraham.com/procrastination.html (Accessed: 5 May, 2012)
Hamming, R. (1986) You and Your Research (Speech). Available at: http://www.paulgraham.com/hamming.html (Accessed: 5 May,2012)
The Girl Effect (2011) The Girl Effect. Available at: http://girleffect.org/video (Accessed: 4 May, 2012)
Rodriguez, D. (2009) 11: Everyone needs time to innovate. Available at:http://metacool.typepad.com/metacool/2009/05/11-everyone-needs-time-to-innovate.html (Accessed: 6 May 2012)
So,today was the final countdown when we shown our idea in front of the potential investors,in other words Dragons. To be honest is wasn’t that scary like the first one where we should present on our own.We have been prepared to answer any question which will be occur,so really we have confidence in ourselves.We had appropriate answer and support for them by illustrating significant charts and analysis we have done.But more importantly,no one read from the notes and we answer all questions straight to the point as well as stay calm and confident to the end.
From this session I understood that good presentations skills and public speaking skills are very useful in many aspects of work and life. Furthermore, developing the confidence in yourself and capability to give good presentations, and to stand up in front of an audience and speak well, are also extremely helpful competencies for self-development too.Like most things in life, it simply takes a little preparation and practice.
I had read about Christensen work about ‘ How you will measure your life’? I really enjoyed the philosophical aspect on having purpose in life.As myself I like to read philosophical and psychological books to gain better understanding of human logic via behavior also applying to understanding and solving problems in many different spheres of human activities. Further, philosophical approach is basically distinguished from other ways of addressing such problems by its critical, generally systematic approach and its reliance on rational argument.
The main goal is to teach yourself how to use success secrets so you can achieve the success in life. As from the work of the Christensen assumption is, instead of telling someone what to think, better is to teach how to think.As I remember from my other modules Frederick Hertzberg is one of the great original thinkers in management and motivational theory.He is most famous for introducing job enrichment and the Motivator-hygiene theory.
This concept is very similar to the Maslow’s well-known hierarchy of needs. However, Herzberg he called the satisfiries motivators and the dissatisfiries hygiene factors. He stated that research proved that people will strive to achieve ‘hygiene’ needs because they are unhappy without them, but once satisfied the effect soon wears off – satisfaction is unstable. Nowadays, poorly managed organisations fail to understand that people are not ‘motivated’ by implementing ‘hygiene’ needs. People are only truly motivated by enabling them to reach for and satisfy the factors that Herzberg identified as real motivators, such as achievement, advancement, development, etc., which represent a far deeper level of meaning and fulfillment.As to conclude not just in the working environment but as well in today life that money is not a motivator in the way that the primary motivators are, such as achievement and recognition.
As we have used to the routine, today lecture was again to prepare what we have done and should present it to the class to hear some feedback. It was interesting listen to other groups, and to hear from them how many effort they put in it,how they carry experiments,surveys and so on.
As usual for the presentation our group gone first.So, the most of our research came under 3 most important key activities:
- We have contacted MailBox to evaluate their prices,services and timing.
- Received email that Oliver (head of the faculty) get us permission to hand in efficiently other students assignment as well allow us rent the room to create our small office.
- Received email from the Back office,timetable when is all deadlines are located.
This week we met up for another meeting to discuss our business and put ideas into the canvas. After we received positive feedback, we start thinking how we will implement our idea. We started from the simple,surveys. So, we came up with quick and easy survey, which helped us more to understand students behavioral and psychological needs on our services. While we were creating our survey, Vikrant emailed authorities to ask many questions that have appeared before from the feedback we got from our class.
After we have created the survey,we went out around LRC and computer rooms to as students fill up the questionnaire. More surprisingly whilst we did the survey students were interesting in our services and asked us questions.This helped us review our current state in the business and what improvements could be done to satisfy our potential customers.
End of that week Vikrant got reply and we get allowance to hand in other students assignments. We were very happy with feedback we get from survey as well as about the decisive email.That all inspire us be more creative and add reasonable value to our business canvas.
This week lecture was started by guest speaker Dwaine talking to us about EBU. He’s style of pitch was really funny and inspirational.However… Today we have to present our businesses, what we have done. Firstly, we start with that we have completely changed our idea,because we recognize that it wouldn’t work. Nevertheless, by presenting our new business aspect,most of the student were interested in our services and give us rational criticism and attentive feedback.
Overview of our business
So, basically our enterprise is a service within the university, where we will print and hand in assignments.It’s just simple appropriate service for students, to make their life more flexible. It is obvious that LRC most of the time is full and printers are usually busy. We will print and hand in assignment for the students, which is making convenient options not to travel far away on Monday morning. Because deadlines at Kingston Hill campus is 9 am on Monday.This service will be available for all students,who wants efficient services and for reasonable price.
The feedback we had gained was really helpful, and it created for us more inspiration working on our business to achieve success. The session was constructive and as we get positive feedback from our class mates which will our targeting group for our particular services.
This week there wasn’t ENVD lecture and we need to start our business plan outside of the class. I meet up with our group and we ha discussed our idea We try to frame new idea,because from the first one we didn’t gain a success. So we spend all our meeting session just on thoughts what will be most suitable and reliable for Kingston Hill students.
As stated by Ralph Waldo Emerson ”Our greatest glory is not in never-failing, but in rising up every time we fail“. So, after not really successful first approach,we did came up with few ideas and research them at the same time. And suddenly we recognize that lots of students handing their assignment late Sunday night. From this point we start to think how we can deal with this most common issue. At the end of the meeting everyone agreed with Vikrant suggestions and we decided to contact Corrine and ask permission to change our previous idea.Everyone were happy with new idea and it’s approval.So, from now on was important to recognize that to be as a great tea,we must have share common goals, a common vision and have some level of interdependence that requires both verbal and physical interaction.
I really like my group, because we work in close coordination with each other and thus come to know each other better. However, today teamwork is used on an everyday factor to achieve a wide range of tasks. As highlighted by Henry Ford, ”Coming together is a beginning. Keeping together is progress. Working together is success. In such as manner, we were responding to each other thoughts, listening and responding to the needs of each group member, sharing ideas and working collaboratively.