Self Reflection On Entrepreneurship

In this assignment I aim to self–reflect on my personal entrepreneurial skill. According to the Cambridge dictionary self–reflection is 'the activity of thinking about your own feelings and behaviour, and the reasons that may lie behind them'. Self–reflection is a crucial part of development, one of the reasons for this is because self–reflection enables you to review yourself. It then becomes easier for you to evaluate your performance, this can be used to make improvements for the future.

Entrepreneurship

The Oxford dictionary define entrepreneurship as 'The activity of setting up a business or businesses, taking on financial risks in the hope of profit.' An Entrepreneur consists of an individual who is both creative and innovative; I believe an entrepreneur is an open–minded individual; this enables them to think of creative thoughts and ideas that they can use to set–up their own business/businesses. In order to put these creative thoughts and ideas to good use they also need to be innovative. The 'Business Dictionary' states that Entrepreneurship is 'The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.' This supports the fact that as an entrepreneur you need to be willing to take calculated risks, with the aim of prospering and therefore meeting aims and objectives. An entrepreneur needs to be able to handle taking a loss; an entrepreneur would usually learn from this to enhance their skills so that less mistakes occur in the future.

Self–Reflection is crucial for development (Kolb, 1984)

In my previous education institution, a reflection was undertaken in teamworking. We worked as a team and set–up a project for a talent show. After we accomplished this we handed out questionnaires to our audience (to gather feedback on how we performed); we were then able to use the distributed questionnaire to gather more knowledge and understanding on various methods that we could improve for the future. Hobbs and Kolb are authors who have a strong belief in reflecting on your work. As an entrepreneur this is crucial as it enables you to find any errors that you may have made to then rectify them. An example of this is when I