Addressing a Personal Challenge – Business Thinking

Addressing a Personal Challenge – Business Thinking

An individual’s traits can affect whether they can be entrepreneurs or not. An aspiring entrepreneur is innovative in thinking, has self-control, and can take the initiative in life. Most young people who can be promising entrepreneurs have role models in business, creating clubs or organizations. Entrepreneurs are not born but created; hence, personal traits play an important role in creating entrepreneurs (Geldholf & Lerner, 2015). Business thinking has been challenged again and again. Uncertainty about the future is a challenge, a person can have a business idea, but they may hesitate because of being unsure about cash flow or customer flow. Lack of creativity in an individual can make it difficult for them to venture into an entrepreneur. It’s challenging for an individual with no mentors or family background in entrepreneurship to think about business. Hire our assignment writing services in case your assignment is devastating you.

Personal assets are the things that an individual owns, containing the value in the future or present. Examples include land, personal property like vehicles, and investments. Individuals can use personal assets for a variety of reasons. Tangible assets are the physical property or assets that an organization owns. Companies use them to produce services and goods. Besides, when the notion of personality traits comes to mind, it is essential to point out that it inevitably has positive ramifications on the entrepreneurial aim when one has these factors. The need to gain achievement, internal locus control, entrepreneurial alertness, and risk tolerance are dimensions of personality traits that aid an individual in having full entrepreneurial intentions (Karabulut, 2016). Also, any successful entrepreneur distinguishes themselves from unsuccessful aspects by interacting with their internal control locus and the external control locus. As such, it suffices to maintain that the desire to make achievement, mental ability, knowledge, and risk-taking are essential capital attributes in humans for proper entrepreneurial orientation.

References

Geldhof, J., & Lerner, R. (2015). How to Recognize a Budding Entrepreneur. The Wall Street Journal. Retrieved 20 September 2021, from: https://www.wsj.com/articles/how-to-recognize-a-budding-entrepreneur-1432318006

Karabulut, A. T. (2016). Personality traits on entrepreneurial intention. Procedia-Social and Behavioral Sciences, 229, 12-21.

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Addressing a Personal Challenge – Business Thinking

Overview
Understanding business thinking is integral to successfully advancing in your career. The purpose of this assignment is to analyze how personal traits may impact business success.
As you read the descriptions in the articles and view the media element, take notice of the consistent and dramatic understanding needed to evaluate personal strengths and weaknesses. In a short essay (200–300 words), examine the traits outlined in the article by Geldhof and Lerner, “How to Recognize a Budding Entrepreneur; New Research Identifies the Four Qualities that Founders-to-be Have in Common,” focusing on how they affect business professionals.

Instructions
To complete the assignment:
Read the articles and watch the media piece in this unit’s studies.
Summarize what you see as the main ideas of the article by Geldhof and Lerner. Explain what these ideas mean to you.
Describe how understanding personal traits might impact whether or not an individual decides to open a business. Ideas like the ones in this course reading may seem abstract, even removed from our own experience. However, if they are important ideas, they are related to something everyone can see.
Explain how it might impact your career if you went into business today with the idea of developing personal assets rather than tangible assets such as warehouses, paper-based transactions, file cabinets, and other hard assets.
Criteria
Unlike other assignments in this course, this assignment will be graded by a checklist with four criteria. To see how your assignment will be graded, review the four criteria:
Summarize themes related to challenges in business thinking.
Describe the impact of personal traits on entrepreneurship.
Explain the potential difference between tangible assets and personal assets.
Communicate using correct spelling, grammar, usage, and mechanics.