Entrepreneurial Strategy Exercise

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Entrepreneurial Strategy Exercise Entrepreneurial strategic planning is the general information about the internal and external workings of an individual and its intended outlook for competing with others. It is important to know one’s strengths and weaknesses in order to make sound, concrete decisions for their business. Major points of analysis consist of the entrepreneurial mind, role requirements, and management skills. The Free Dictionary states that entrepreneurship is “the state, quality, or condition of being an entrepreneur, an organizer or promoter of business ventures.” I cannot argue with the dictionary, but I can explain what entrepreneurship means to me. Entrepreneurship is the ownership and maintenance of any business entity. It is the possession of ownership of one’s efforts and drive in achieving their desired goals. Taken from the Personal Entrepreneurial Strategy survey in our readings for week one, I will analyze my strengths and weaknesses (Spinelli & Timmons, 2007). I am on target in the area of commitment and determination, except for discipline. I tend to spread myself too thin in the area of multitasking. I am pretty much on target for the majority of the survey scoring myself a 5 or 4 on most of topics. A few of my weaknesses include “lack of fear of failure”, “having patience”, and “awareness of weaknesses”. My management competencies are strongest in administration. I consider myself the behind the scenes person. I’m good at researching and building the business behind the scenes. I’m the first to admit that I am a work in progress in some of the areas of marketing, operations, finance and law. I have several goals in place that will help strengthen my areas of weakness. First I plan to complete my studies at University of Phoenix (UOP) and obtain my degree. My degree program prepares me with theory in communication,

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