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MGMT13151 Entrepreneurship Innovation and Start-Ups | Free Samples

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Throughout Australia there are many events aimed at developing new innovations and start-ups. Some of these include Hackathons, Start-Up weekends, and Innovation events, competitions and conferences. You are required to:

1.Identify and describe three such events

2.Discuss the entrepreneurial attributes you would gain from participating in such events

3.Discuss your agreement or disagreement with the proposition that the ideas generated by such events do not benefit society but are a way for organisers to exploit the ideas of participants

Answer:


Introduction

Motivation and passion are being considered as the important attribute if an entrepreneur. A hard working entrepreneur can easily manage the development process of any kind of initiatives. In this study, the knowledge and skills which are required for being a successful entrepreneur have been highlighted. Here the study has also shed light on the three important events in Australia such as ‘SPARK FESTIVAL’, ‘Launch festival in Sydney’ and ‘RUN THE WORLD Female Entrepreneurs Conference // Melbourne 2018’. By discussing these festivals the entrepreneur attributes which has been encouraged in these events have been identified. After the identification of entrepreneur attributes, the critical analysis has been done.

Discussion

Spark event is being considered as one of the largest event in Australia. This event is popular among people as it brings the combination of entrepreneurs, start-ups and innovations (Sparkfestival.co, 2018). The major importance of the Spark festival is it provides the chance to interact with large group of people. Not only the interaction but also it is being considered as the platform where innovation and Ideas can be exchanged. Different types of topics are being discussed in this event, which helps to gather the knowledge. With the diverse culture it helps to grow start-up communities. In this case the effective entrepreneurship theory called Locus of control can also be simultaneously applied. In the diversified culture and large number of innovative ideas may influence the confidence of the entrepreneur. By following this theory self-control can be increased so that the entrepreneur will be able to understand both the external and internal environment.  I believe, if I will participate in this event, it will make me more interactive. This will also flourish my knowledge and by exchanging ideas I will also be able to identify both the positive and negative sides of my innovation techniques.

Launch festival in Sydney is one of the largest festival in all over the world. It is being hosted in San Francisco for last 10 years (Launchfestivalsydney.com, 2018). In this even, the start-up funding and investment regarding topics have been discussed.  The important management practices such as negotiation, recruitment and selection, market competition and many more related topics have been be highlighted by the expert chair persons. If I would have joined in this event, it would help me to gather information regarding the increasing funding in start-up businesses. By gathering the knowledge regarding business management, I will be able to develop my managerial skills. In this case the strategic entrepreneurial growth model can be adopted because life this event it will develop the intellectual property and entrepreneurial spirit, which can increase my innovation. I believe, these knowledge will motivate me towards achieving my goals and objectives. Within these four days, I would have gathered the knowledge regarding portfolio management, which is very important for developing a start-up business.

‘RUN THE WORLD Female Entrepreneurs Conference’, which is going to be help on 18th august in Melbourne is another motivational events. In this conference the contribution of female entrepreneur in the business industry will be highlighted. The aim of this event is to motivate large number of female entrepreneur towards achieving success in business. By inspiring the women entrepreneur through the speech of successful female entrepreneur who have established their strong identity in the business industry, the event will highlight the initiatives (Eventbrite.com.au, 2018). In this event large number of women entrepreneur will share their experience and will prove their suggestions so that the future generation can get motivated. I believe, this event will be beneficial for me. Because in this event I will be able to share my knowledge and business ideas with the experts. On the other hand, it will help me to get connected with the resourceful persons in the business industry.

Therefore, it can be clearly said that these will motivate my passion towards achieving my goals. As it has been discussed in the study that in such events large number of people get the chance to share their ideas, innovation and their own experience. Therefore, it will help me to gather knowledge. New ideas can also be invented by me after attending this events. It will develop my interaction skills, which will help me in personal and professional field. In the third event, I have mention that the management practice related topics will be discussed, which will be beneficial for me to develop my entrepreneurial attributes.

As stated by Barringer (2015), events are required for the entrepreneur to develop the characteristics which can help to be a successful entrepreneur. By supporting this Drucker (2014) said, after attending the events positivity can be increased. In the above events, encouragement regarding different types of entrepreneur characteristics have been mentioned. In the above discussion it has been mentioned that interaction with large number of people the knowledge can be developed. However, by arguing this Brandalise et al., (2016) stated that in such events after the interaction different types of insecurity regarding own innovation increases, which may impact on the entire performance of the person. By supporting this De Jongh et al., (2017) state that most of the times people visits in such events but only promotions of large business organizations are being highlighted. In such events, different types of entrepreneur come with their large organizational identity. It has been identified that most of the times they try to garb the idea of new entrepreneur and encourage the person to be the part of this company. Through this process the large organizations decreases the chances of new entrants or new competitors in the market.

After analyzing the entire study, it has been identified that events can impact on the entrepreneur attributes both positively and negatively. In this study, it has been argued that the events mainly being introduced for organizational benefits not for the social improvements. Although in the current scenario, in the case of most of the events the organizational promotion and those business strengths are being shown through the entrepreneurial speech, but it cannot be denied that through the events, a person who never been much interactive with the surroundings or had not much scope for interaction, through such events the person will get the chance to come closure with others. It is beneficial for the person in case of increasing confidence. If the social benefits is being analyzed, it can be said that different motivational speech by the resourceful persons can influence the society positively. On the other hand, it can also increase the job opportunities for people.

Conclusion

In the above study it has been identified that the proper attributes are needed to get adopted by the entrepreneur as these attributes are being reflected through the activities. It is mentioned in the study that events can impact on the society in both positive and negative manner. In the case of increasing the motivation and passion in an entrepreneur, it is very important. However, it has been argued that most of the events are being introduced for the organizational benefits. It cannot be denied that the organizational benefits is one of the major aim behind such events, but it is also true that events can bring positive impact on the society especially in the case of encouraging the young generation towards innovation and creativity.

Reference and bibliography

Barringer, B. R. (2015). Entrepreneurship: Successfully launching new ventures. Pearson Education India.

Brandalise, M. H., Barbosa, G., Centeno, R. S., Yacubian, E. M. T., & de Araujo Filho, G. M. (2016). Depressive and Anxiety Symptoms Exert Negative Impact on Resilience to Stressful Events in Patients with Refractory Temporal Lobe Epilepsy with Late Seizure Recurrence after Surgery. J Psychol Psychother, 6(269), 2161-0487.

Cooper, A. & Folta, T., (2017). Entrepreneurship and high?technology clusters. The Blackwell handbook of entrepreneurship, pp.348-367.

De Jongh, A., van Eeden, A., van Houtem, C. M., & van Wijk, A. J. (2017). Do traumatic events have more impact on the development of dental anxiety than negative, non?traumatic events?. European journal of oral sciences, 125(3), 202-207.

Dees, J.G., (2017). 1 The Meaning of Social Entrepreneurship. In Case Studies in Social Entrepreneurship and Sustainability (pp. 34-42). Routledge.

Drucker, P. (2014). Innovation and entrepreneurship. Routledge.

Eventbrite.com.au (2018). Retrieved from https://www.eventbrite.com.au/e/run-the-world-female-entrepreneurs-conference-melbourne-2018-tickets-45671930975?aff=ebdssbdestsearch.

Kuratko, D.F., (2016). Entrepreneurship: Theory, process, and practice. Cengage Learning.

Launchfestivalsydney.com (2018). Retrieved from https://www.launchfestivalsydney.com/agenda

Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.

Schaltegger, S., Lüdeke-Freund, F., & Hansen, E. G. (2016). Business models for sustainability: A co-evolutionary analysis of sustainable entrepreneurship, innovation, and transformation. Organization & Environment, 29(3), 264-289.

Sparkfestival.co (2018). Retrieved from https://sparkfestival.co/about/.

Wagner, M. (Ed.). (2017). Entrepreneurship, innovation and sustainability. Routledge.

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