GUIDANCE NOTES FOR INDIVIDUAL ASSIGNMENT February 2011

Task 1:

This requires you to select an entrepreneur, evaluate their entrepreneurial journey and
determine the reasons for their success. You are specifically required to make use of Burns
and Sarasvathys work, however this is a starting point and you are encouraged to read
widely and make use of other relevant literature. You are also required to draw wider
conclusions about entrepreneurial success in general.

In selecting an entrepreneur, you may choose any type of entrepreneur whether they are
business, social, community, aesthetic, environment or charity oriented. This could be
someone you know personally or someone famous (or a combination). The key is that
they created an organisation in response to a perceived opportunity which they pursued.
If they did not create an organisation, for the purposes of this module and coursework we
classify them as enterprising or entrepreneurial but not entrepreneurs.

If you are stuck for whom to select, think of a business that you admire or may want to
work for, also have a look through the core text and the websites detailed in the manual.
At the end of these notes there is a list of famous US entrepreneurs; in addition the
following websites are very helpful:

http://entrepreneurs.about.com/od/famousentrepreneurs/Famous_Entrepreneurs.htm

Excellent website on all areas of entrepreneurship, this link takes you to details of a variety of
famous entrepreneurs under various categories including; entertainment, historical, reality TV
and technology. There is a US bias to the website but nevertheless very useful resource.

http://www.topbusinessentrepreneurs.com/

A site which says what it does, introduces you top business entrepreneurs from around the
world.

http://ezinearticles.com/?Famous-Entrepreneurs-and-How-They-Got-Started&id=1113560

This website has details of famous entrepreneurs but also some interesting articles despite a
US bias.

The frameworks you can look into are based on lectures 1 to 4 in particular. There are
many approaches you could take in completing the assignment. For example, you
could start with Burns then identify its limitations and link it to Sarasvathy and its
limitations. Then build on this by examining other approaches which help broaden our
understanding of entrepreneurial behaviour. The purpose is to gain a fuller
understanding of the reasons for entrepreneurial success. You are encouraged to do
wider reading beyond the core texts and readings in order to attain higher marks.

Whoever you choose focus on analysing the story not telling the story. Use the literature
to demonstrate a holistic and academically critical understanding of how the entrepreneur
evolved their idea from conception to implementation and why they were successful in
starting and growing the venture. The following points may help you as you unravel the
reasons for success.

o The entrepreneurs background (e.g. family history, childhood experiences, education, work
experience).
o The entrepreneurial journey (e.g. the first idea/challenge undertaken).

- 1 of 4 -
 o The opportunity, which made the entrepreneur successful, how it arose, what influenced and
motivated the entrepreneur to identify and pursue this opportunity.
o What the entrepreneur did (identify specific activities) to turn the opportunity into a business
(e.g. marshal resources, build a team, conduct research).
o What major challenges did the entrepreneur encounter during the creation of this business?
How were those problems dealt with?
o The Entrepreneurs Network. Who did the entrepreneur use for help and guidance during the
start-up of this business? Describe the social context of the entrepreneur.
o The role of luck, antecedent factors, personality, culture.

The aim is to develop a thorough and practical understanding of what is involved in

starting and growing a successful venture from a lead entrepreneurs perspective.

You may choose your own format for presenting your response.

Assessment Criteria for Task 1

You are strongly advised to read Your assignment results And how to improve them.
This is produced by the Effective Learning Service and is available as a hard copy or
electronically at the following link:

http://www.brad.ac.uk/acad/management/external/els/pdf/yourassignmentresults.pdf

The analogy of Explorer, Tourist, Hitch Hiker and Lost are particularly valid. I would add
that at the highest level there is no perfect solution. However higher marks will be
awarded based on the following criteria:

Understanding & Analysis identification and critical analysis of key issues, quality of
reasoning, clear conclusions.
Evidence of further reading beyond lecture notes and core text.
Use of relevant theories, frameworks and terminology.
Creativity in evaluation and presentation
Structure, Style & Presentation of work clear organisation, logical flow with appropriate
use of tables, diagrams and appropriately referenced.

Task 2:

Through Task 1 you should have a strong insight into what is required at an individual level
for entrepreneurial success. This question asks you to evaluate your own
entrepreneurial/enterprising (in the wider context) capabilities and potential in light of your
findings.

As a starting point you will use GET, other online self-assessment tests include:

http://theentrepreneurnextdoor.com/tests.html
http://www.forbes.com/entrepreneurs/2005/11/15/entrepreneur-personality-
quiz_cx_bn_1116quiz.html
http://www.bdc.ca/en/business_tools/entrepreneurial_self-Assessment/selfassessment.htm?
iNoC=1
http://www.career-intelligence.com/assessment/entrepreneurs_checklist.asp
http://theentrepreneurnextdoor.com/tests.html

Be selective in the tests you use and the emphasis is on the analysis, you my want to
present your analysis in the format of a SWOT. Remember to make specific

- 2 of 4 -
recommendations as to what you could do to improve your entrepreneurial capabilities,
whether for employment or self employment.
Assessment Criteria for Task 2:

This is a reflective exercise and as such there can be no correct response. You will be
judged on your:

Reflections and analysis quality of reasoning, evaluation and recommendations.

Use of self assessment tools/frameworks selecting appropriate tools and
deciphering the feedback.
Ability to make inter-connections between actual and potential entrepreneurs
(yourself).
Creativity in evaluation, structure and presentation.
Structure & Presentation of work clear organisation, logical flow with appropriate
use of graphics, appropriately referenced (e.g. source of self assessment).

Good Luck & I look forward to reading your responses

-oOo-

List of Famous US Entrepreneurs

1. Alvin Ailey Dance (Alvin Ailey) Dance Theater)

2. Mary Kay Ash Cosmetics (Mary Kay)
3. P.T. Barnum Entertainment (Barnum & Bailey)
4. Warren Bechtel Construction
5. Jeff Bezos Internet (Amazon)
6. Michael Bloomberg Financial Information
7. Richard Branson Several (Virgin
8. Andrew Carnegie Steel (US Steel)
9. Steve Case Internet (America Online)
10. Jim Clark Internet (Netscape)
11. Michael Dell Computers (Dell Computer)
12. Walt Disney Entertainment
13. Larry Ellison Software (Oracle)
14. Debbi Fields Cookies (Mrs. Fields)
15. Donald and Doris Fisher Clothing (Gap Inc.)
16. Ernest & Julio Gallo Wine
17. Bill Gates Software (Microsoft)
18. A. P. Giannini Banking (Bank of America)
19. Walt Goodridge Writer
20. Leo Goodwin Insurance (GEICO)
21. Barry Gordy Music (Motown Records)
22. Joyce Hall Greeting Cards (Hallmark)
23. William Randolph Hearst Publishing (Hearst Newspapers)
24. Richard A. Henson Airlines
25. Fernando Hernandez AT&T

- 3 of 4 -
26. Milton Hershey Chocolate

27. James J. Hill Railroads (Great Northern Railway)

28. Wayne Huizenga Sanitation (Waste Management)
29. Steve Jobs Computers (Apple)
30. Robert L. Johnson Broadcasting (BET)
31. John Johnson Publishing (Ebony)
32. Henry J. Kaiser Health Care (Kaiser Permanente)
33. Herb Kelleher Airlines (Southwest)
34. Ray Kroc Fast Food (McDonalds)
35. Estee Lauder Cosmetics
36. William Levitt Housing
37. Henry Luce Publishing (Time/Life)
38. J. W. Marriott Hospitality
39. Louis B. Mayer Entertainment (MGM)
40. William McGowan Telecommunications (MCI)
41. Scott McNealy Computers (Sun Microsystems)
42. Judi Sheppard Missett Fitness (Jazzercise)
43. Gordon Moore Electronics (Intel)
44. Andrew Morrison Web Publishing
45. Rupert Murdoch Media
46. Pierre Omidyar Internet (Ebay)
47. David Packard Electronics (Hewlett-Packard)
48. William S. Paley Broadcasting (CBS)
49. Ross Perot Data Management (Electronic Data Systems)
50. Jay Pritzker Hospitality (Hyatt)
51. Ralph Roberts Cable TV (Comcast)
52. John D. Rockefeller Oil (Standard Oil)
53. Carlos Santana
54. David Sarnoff Broadcasting (NBC)
55. Howard Schultz Coffee (Starbucks)
56. Charles Schwab Discount Brokerage
57. Richard W. Sears Mail Order (Sears-Roebuck)
58. Russell Simmons Music (Def Jam Records)
59. Fred Smith Shipping (Federal Express)
60. Charles C. Spaulding Insurance
61. Gloria Steinem Publishing (Ms)
62. Martha Stewart Multimedia
63. Dave Thomas Fast Food (Wendys)
64. Donald Trump Real Estate
65. Ted Turner Broadcasting (CNN)
66. Madam C. J. Walker Hair Care
67. Sam Walton Discount Retail (Wal-Mart)
68. Thomas Watson, Sr. Computing (IBM)
69. Oprah Winfrey

- 4 of 4 -