Corporate Entrepreneurship Changing Perspectives

Question: Discuss about the Corporate Entrepreneurship for Changing Perspectives. Answer: Expected deliverables of the assignment: Background of the research: This research paper is primarily concerned with the theories and philosophies behind the behavior of entrepreneur. This theories and behaviors have significant impact on the personality of the entrepreneur. On the other hand, there are several types of entrepreneurs, with the help of gathered data, researcher can able to identify the category of the Omani Entrepreneur. Entrepreneurs are playing major role in order to start a new and innovative business (Acs, 2010). One of the successful Omani Entrepreneur is Badar Al-Ismaili. He is well-known for his new ventures and ideas. He has incorporated several business ideas in his business. This new ideas are helping the entrepreneur to sustain the competitive position of the organization in the global competitive market. Rationale of the research: Rationale of the research is going to depict the reason behind conducting this research. This research paper is going to analyze the ideas and point of view of a well-known Omani entrepreneur, Badar Al-Ismaili. Like other nation, Oman is also suffering from the price changes in oil industry. Most of the other nations of Gulf Cooperation Council (GCC), the sultans of Oman is also suffering due to decline of price over the past few tears. Even in 2015, the country has seen that the revenue of the country goes down by 50%. From the budget of Oman, it has been seen that the project deficits of IMR 3.3 billion (Al-Dhiyabi, 2012). At this vulnerable and dire situation, most of the sultans of Oman are thinking of starting a new business to sustain their position in the competitive market. They have come up with new ideas and they are very positive about those ideas. The optimistic and enthusiastic ideas of the entrepreneurs are helping the Oman sultans to contribu te in the growth of the nation. Those ideas are quite simple and impressive (Boulton and Turner, 2005). In this research paper, researcher is going to conduct an interview for Badar Al-Ismaili in order to understand success mantra of this Omani entrepreneur. Researcher is going to raise a questionnaire, the aim of the questionnaire is to understand the theories, and practices related entrepreneurship. With the help of the literature, researcher can able to understand there are different types of entrepreneur. From the answer of the questions, researcher can categorize Badar Al-Ismailis category (Burch, 2006). On the other hand, literature search also helps the researchers to understand the possible similarities and differences between these methods of management. The questions are going to ask Badar Al-Ismaili to understand his strategies (Bygrave and Zacharakis, 2008). Questionnaire: 1. What are the theories and philosophies adopted by you in order to get success in the field of entrepreneur business? 2. How can you differentiate among various types of entrepreneurs? 3. What is your point of view regarding the differences among the methods of management? Approaches towards solution: In order to get accurate results researcher is going to take help of literature search. Literature review is the integrals part of every research paper. To collect information on the specific topic, research is going to take help of several journals, books and articles (Carsrud and Brannback, 2007). With the help of scholarly journals, articles and books, researcher is going to collect contradictory views of the previous scholars. This is not just the summary of the paper rather it is a systematic analysis of the paper in synthesize way. There are several factors, on which researcher should work on. Role of entrepreneurship: Before going deep into the study, it is necessary to understand the role of the entrepreneurs in the complex business environment. Entrepreneurs are playing significant role in the economic development. In accordance with Clark, (2006), Economic development is showing that the income of the company is increasing continuously and entrepreneur is playing a significant role. In the market of economy, the entrepreneur is occupying the central position. Society is prospering with the help of the entrepreneurs and activities of the entrepreneurs. By the virtue of Drucker, (2005), the activities of entrepreneurs are the critical determinants of the success level, growth level and opportunity level of any country. The most dynamic society has most entrepreneurs; therefore, society should have legal structure and economic structure. Omani entrepreneurship: Gautam (2007) depicted that due to severe downfall in the price of oil, most of the Oman countries are suffering from the economic crisis. In order to sustain the business position, most of the sultans are trying to open new ventures with an optimistic attitude. Omanis sultans are committed in making different business in their country. Different types of business are helping protecting their income and for them it is a safest way to rejuvenate the economic development of country (Kamoonpuri, 2014). They are relentless in adopting the change. Since SME Development Symposium, the focus is entirely upon the Omans Ecosystem for Entrepreneurs. Theories and practices on entrepreneurship Several theories on entrepreneurship help in depicting the models of entrepreneurship. In accordance with the Cantillons Theory, entrepreneur is one of the production factors. In this theory, an agent has to take risk and equilibrates the demand and supply of the economy. Marshalls Approach to Entrepreneurship: according to Kaushik and Bhatnagar (2009), Marshall is well-known for creating equilibrium entrepreneur. According to this theory, the modern entrepreneurs are unable of meeting the demand of the society and they are incapable of playing the role of the entrepreneurs. With the help of the Neo-classical theory and Marshallian analysis, researcher is trying to explain the equilibrium condition of the market. Along with that, there are several theories like; The Social Enterprise Schools, Schultz Approach, Kirzners Alert Entrepreneur and Knights Approach are the specific approaches for understating entrepreneurship. Different types of entrepreneurs There are different types of entrepreneurship and the entrepreneurs are techno entrepreneurs, serial entrepreneurs, intra entrepreneurs and minority entrepreneurs. This section is primarily concerned with the differences of various types of entrepreneurship. Techno-entrepreneurs are mostly accustomed with the technologically intensive environments. These businesses mainly based on the rich conceptual and empirical contributions (Kuratko, 2006). On the other hand, Keister, (2005) stated that serial entrepreneurs are always come up with new ideas and thoughts. They are typically against of the conventional entrepreneurs. The serial entrepreneurs always come up with new ideas and later transfer those ideas to someone else. Intra-entrepreneurs are mainly the employees of the company. The employees are entitled to work on a project, which started up by the entrepreneurs. The owner of the small business is known as the minority entrepreneurs. They own very little position in total business of the particular country. Research methods: Research method is the integral and inevitable part of every research project. It is playing diversified role in the research paper. In order to collect effective data for the organization, researcher has to take help of several approaches, strategies, designs and philosophies. It is the sole responsibility of the researcher to understand that actual process of collecting data. Research Philosophy: There are different types of research philosophies; among the several other researcher proposals, researcher is going to take help of the Interpretivisim Research Philosophy. With the help of this philosophy, researcher can able to interpret collected data from reliable sources (Kuratko, 2006). Research design: Qualitative questionnaire is going to be raised by the researcher. Along with that, researcher is going to take help of journals, articles to analyze the data. In particular, this research is an exploratory account of the Omani Entrepreneurship. Exploratory Research Design is helping in getting authentic data and it is helping in exploring collected information through questionnaire (Lambing and Kuehl, 2007). Research approach: There are three types of Research approaches Inductive, Deductive and Abductive. Researcher is going take help of the deductive research approach in order to present the data. To carry out the research positively, researcher is going to Deductive research approach. Research strategy: Here, researcher is going to consider Qualitative strategy in order to collect relevant data. The entire research is based on the analysis of the questionnaire. Exploratory research design has successful coordination with the Qualitative research strategy. In case of the qualitative research strategy, the result of the research is based on the scholars, journals and articles. Researcher is going to focus on the one person only; therefore, researcher will not take help of any statistical data (Mattingly, 2015). Data collection: In order to collect effective data, researcher is going to take help of the Secondary data collection methods. More specifically, it can be said that research will consider Secondary Qualitative Data Collection. Data sampling: For sampling, researcher will ask questions to one person only. Along with that, information from journals, articles and books is going to be analyzed in this paper. Non-probability sampling is the best methods for collecting data for the said topic. Open-ended questionnaire is going to be raised (Opportunities and challenges for Omani women entrepreneurs, 2015). Potential risk factors: At the time of collecting data, researcher may face several difficulties. Researcher has to abide by several ethical considerations and norms. Researcher may not able to collect relevant data from the literature sources. On the other hand, lack of corporation from the side of Badar Al-Ismaili can be possible risk factors (Rieple and Vyakarnam, 2004). While analyzing financial information of Badar Al-Ismaili, accurate data cannot be obtained. Questionnaire should be ethically correct so that it do not harm the respondent in any way. On the other hand, while completing this assignment, researcher can face money oriented and time oriented issues. Due to lack of time and money, researcher cannot able to complete the research. This research is entirely based on the secondary data collection; therefore, researcher has to go through several websites in order to collect data. Researcher should have sound knowledge on technology; otherwise, it will be difficult for the researcher to collect d ata (Ronen, 2003). Along with that, researcher should be selective at the time of selecting journals and articles. If any journal is not protected by Data Protection Act of 1998, then researcher should discard those data. Timeline and work breakdown (Gantt chart): Activity Duration (in days) Commencement of research paper 10 Collect data from journals, articles and books 22 Development of open ended questionnaire 7 Ask questions to the respondents 5 Analysis of secondary qualitative data 15 Conclude the research 20 Data Analysis Introduction In this section, researcher is going to analyze the data, which is collected from the literature review and open ended questionnaire. With the help of the questionnaire, researcher is trying to understand the different types of entrepreneurship. There are several theories and practices on the entrepreneurship (Sheth, 2010). Researcher has taken help of the Personal Entrepreneurial Competency Scoring (PECS) sheet in order to analyze the collected data from literature review. The researcher has asked three questions to the respondent in order to understand his point of view regarding the theories and practices of Omani entrepreneurship and the difference among different types of entrepreneurs. Discussion At the time of interviewing Mr.Badar Al-Ismail in his extravagant shop, it has been depicted that he was an optimistic person with full of enthusiasm. He was a good knowledge on entrepreneurship; therefore, he is succeeded in opening new business forums. He presented all the answer of the question with a smile and seriousness at that time (Shetty, 2004). His answers are definite help for the new start-up businessperson. What theories and philosophies of entrepreneurs are adopted by you in order to get success in the field of entrepreneur business? When Mr. Badar was asked for his point of view regarding the theories and practices on entrepreneurship, he had depicted that Marshalls Approach to Entrepreneurship is the best model for entrepreneurs. With the help of the model, he is succeeded in opening new businesses in Oman. After the oil price crisis in Oman, most of the large-scale organizations are suffering heavily. At that time, he has decided to open a business of computer device as he has technical knowledge. While running his business, he has taken help of the Marshalls Approach to Entrepreneurship. This approach is helping in maintaining the balance between loss and profit. On the other hand, this theory is focusing on the perspective of society. From this perspective, it has been seen that Mr. Badar is able to maintain relationship between the society and business. How can you differentiate among various types of entrepreneurs? When he had been asked about different types of entrepreneurs, he depicted that there are different types of entrepreneurs and among them, he chose Tech-entrepreneur over other entrepreneurship. Mr.Badar Al-Ismail has technical knowledge; therefore, it is the prime reason behind choosing techno entrepreneurship. Due to his IT knowledge, and his degree from College of Higher Technology with a bachelor degree on Computer Science, he had good knowledge on IT sector. He established a shop of computer device as he had good knowledge of technology. At the beginning period of his entrepreneurship, he had faced several difficulties due to the merciless giant computer companies in Oman (Women entrepreneurs in Oman: some barriers to success, 2015). What is your point of view regarding the differences among the methods of management? While answering this question, Mr.Badar Al-Ismail had stated that the management of the entrepreneurs should have in-depth knowledge on this particular aspect. Entrepreneurial characteristics are necessary for opening and running a business. On the other hand, he also stated that personal evaluation is necessary for running a business and it is one of the successful pillars for every entrepreneurial business. Mr.Badar Al-Ismail added that due to advancement of technology most of the business structures are mainly associated with the technology (Trivedi, 2010). Therefore, a techno entrepreneur needs lots of technical knowledge. He has depicted that the techno entrepreneur has to put lots of attention to their business rather other entrepreneurs. From the analysis of the questionnaires, books, journals and articles, it has been seen that entrepreneurs are playing major role in the economic development of the country. Mr. Badar has opened a new shop in the Muscat; after he has faced several difficulties and opened a new shop at Nizwa. With the help of effective policies and theories, Mr. Badar has successfully evaluated his business in the competitive market. Literature search is also helping in gathering knowledge regarding different types of entrepreneurs. Conclusion From the above analysis of the research, it can be understood that Mr.Badar Al-Ismaili is concentrating on the Long term Involvement in the entrepreneurship business. He had faced major challenges while starting a new business like merchandise problem (Sinha, 2006). Interviewing Mr.Badar Al-Ismaili is the greatest chance for the new businessperson in order to understand the prospect. He is running his business with proud. It has been understood that an entrepreneur should have characteristics in order to promote a new business References Acs, Z. (2010). Entrepreneurship in Developing Countries.Foundations and Trends in Entrepreneurship, 6(1), pp.1-68. Al-Dhiyabi, R. (2012).Transition of Oman from oil-based employment to SME-based employment. Boulton, C. and Turner, P. (2005).Entrepreneurship. Singapore: John Wiley Sons (Asia). Burch, J. (2006).Entrepreneurship. 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