Entrepreneurship Essay

1817 words - 8 pages

Entrepreneurship
Entrepreneurship

Entrepreneurship assignment 1500 word: Interview with Pearse Kelly, Spar owner
In the following assignment I will describe in a case study form the interview in which I undertook with Pearse Kelly that is the owner of the local Spar in my area Maghera. I will outline his role as an entrepreneur and explain how he started off and got to his success.
Entrepreneurship and school of thought – Entrepreneurial Trait Approach
We can define an “entrepreneur” as someone who demonstrates initiative by organizing a venture to take benefit of an opportunity and, as the decisionmaker, decides what, how, and how much of a good or service will be produced. It is ...view middle of the document...

This is because of his family background of entrepreneurship and the outcome of him as well. That without these “inborn” traits and abilities this individual would just be like any other. In Grannovetter’s (1977) terms family could be perceived as strong ties but as beneficial strong ties when it comes to entrepreneurial activity supplying commitment, tacit knowledge, access to information, reliability and the willingness to make sacrifices in terms of time, money and effort (Stewart, 2003). The benefits of family as part of the entrepreneur’s network are that they can not only include those employed within the firm as strong ties but also those who have followed an independent career.
* Are entrepreneurs born or made:
Scotty.S (2010) says that the tendency toward entrepreneurship is about 48 percent "heritable," meaning influenced by genetic factors. This shows that 52% comes from other sources such as being taught or molded into. I went on to ask Pearse where he took his education after school to which he replied, “After I finished my B-Tec in Business Studies I went straight into the family business at an age of 21 instead of the other option of University.” Chatterij, (2009) writes, “The public image of entrepreneurship is shaped by talented individuals who lack education but still manage to be found highly successful and world renowned.” However Cooper, (1985) and Chandler (1996) say “The more realistic view on entrepreneurship is that entrepreneurs display significant employment histories” That of which Pearse did display from early work experience in the family firm. See appendix 1 for age start-ups. He had received his education on the ground sometimes referred to as “sitting with Nelly.” You cannot buy or educate the experience in which Pearse had growing up see Appendix 2 for importance of experience rankings. Shakespeare denotes, “Some men are born great, some achieve greatness and others have greatness thrust upon them.” (Shakespeare 1602) Dr Pauric McGowan, Director of the Northern Ireland Centre for Entrepreneurship believes that entrepreneurs are both born and made. Some are born with entrepreneurial traits and behaviours but need to develop such traits and learn skills such as management skills. He believes everyone has the potential to become an entrepreneur.

Area of opportunity seen and action taken:
Pearse had been doing some market research of his local area and noticed a vacant property in the right location that he knew would be a good opportunity to expand the business into a supermarket. “The location was perfect it was Main Street with plenty of parking facilities, the nearest rival wasn’t doing remarkably well and the population was increasing.” Lord Sieff ex-boss of M&S says, “The three most important things in retailing are location, location and location.” He went on to draw up a business plan where he got help from the Prince’s Trust and took it to the local bank manager to finance the purchase of...

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