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Innovation and Entrepreneurship: Reflective Portfolio

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S.No. Content Page no

1 Introduction 3

2 Results of Round 1 5

3 Results of Round 2 7

4 Comparison of Round 1 and 2 6

5 Action Plan 8

6 Conclusion 11

7 Reference 17
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INTRODUCTION

Mission Statement

The mission of my vocation is to keep on finding out about close to home and profession
advancement, bettering myself even as I show this data to other people. I will likewise
improve my capacity to search out open doors for other people, helping them in profession
open doors as a business person.

Vision Statement:

I see my profession as powerful and different, with open doors for challenge and
development. I see the individuals I experience and work with as people I can gain from and
individuals I can help. Every day carries another occasion to create individuals, assemble
professions, and make openings.

RESULT OF ROUND 1

GET SCORE 69%

ACHIEVE 75%
AUTONOMY 73%
CREATIVE 58%
RISK TAKING 75%
CONTROL 58%

Occasionally enterprising

The grade of 69% recommends that I may probably have qualities of enterprising attributes
and might be ambitious in certain unique circumstances. Right now in my life that
substance to chip away at a set number of undertakings and might be glad to be ambitious
either inside work as an entrepreneur or in recreation time.
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Need for achievement

Having a medium score, I may perceive a portion of the accompanying qualities of a serious
requirement for accomplishment in yourself:

 Future oriented
 Self Sufficient and Independent
 An idealistic as opposed to a cynical standpoint
 A solid undertaking direction
 Powerful time the board
 A direction towards results, which applies to yourself as well as other people
 An eagerness, solid drive, and high energy levels
 Prepared to guard my thoughts and perspectives
 An assurance to guarantee your destinations are met in any event, when troubles
emerge
 Duty and determination in quest for my points
 Objective orientated, defining testing however practical objectives
 Hard working and work till late when important to finish undertakings.

This medium score most likely methods are acceptable at accomplishing work and life
harmony.

Need for autonomy

My requirement for autonomy is high. This implies that I may have the accompanying characteristics like
Independence, liking to work alone particularly on the off chance that you can't be big enchilada.
Solid self-articulation, feeling a solid need to do whatever I might want to do as I would prefer as opposed
to chipping away at others' tasks
Autonomy, having the option to remain solitary in any event, when pressurized by individuals and
gatherings; Leadership, liking to be in control and loathing taking requests; Unconventional, being set up to
stand apart as being diverse to other people;
Stubborn, saying my opinion.
Assurance, being solid willed and difficult about my inclinations.

A significant requirement for self-sufficiency score recommends that I like to assume

responsibility for ventures that I am engaged with, and I dislike working for others. Be that
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as it may, I may have to work at growing great relationship abilities with customers,
representatives, providers, and specialists since this is significant even in extremely
independent ventures or endeavours.

Creative tendency

Having a medium score, I see myself as being somewhat innovative, in spite of the fact that
I am less disposed to have radical, problematic creative considerations with game-
advancing effects. Regardless, I may be acceptable at knowing and conveniently applying
new headways to my work, and may be profitable in the way in which I make and apply my
capacities. If I wished to develop a more creative approach, by then I may seize the
opportunity to consider developing inactive inventive aptitudes. The best conditions for
innovativeness are in an easy-going space where you sidestep essential thinking or thinking
on an issue, and a while later use systems, for instance, conceptualizing or mind planning to
create heaps of considerations. Some bit of the inventiveness cycle incorporates some
dormancy to allow the inner mind to work on contemplations during an agonizing stage.
This may provoke unforeseen pieces of information or Eureka minutes, yet creative
musings may be normally the result of an iterative pattern of thinking, using inventive
systems, and loosening up to consider brilliant contemplations.

Calculated risk-taking

My medium marks in this sector shows that I see myself as being unequivocal and willing
to compute that my selections and performances are probably needed to be effective. In any
case, I will be joyful because of ambitious thoughts, or business thoughts .

Locus of control

Having a medium score, I consider myself an artful, self-confident imprint, proactive and
decided, even though if I dream to commence a brand which I may have to build up my to
make an accomplishment. Significantly, I may have to figure out how to apply more
prominent command over the advancement of my thoughts. My self-assurance could be
reinforced by creating an explicit business or venture the executive’s abilities in regions that
I feel should be improved. Without more noteworthy self-assurance .

RESULT OF ROUND 2
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GET SCORE 80%

ACHIEVE 75%
AUTONOMY 73%
CREATIVE 67%
RISK TAKING 92%
CONTROL 100%

The 80% grade proposes that I may be prone to have qualities in a portion of the
enterprising attributes and might be ambitious in certain specific situations. As of now in my
life you may and that you are substance to chip away at a set number of undertakings and
might be glad to be ambitious either inside work as a business visionary or in your relaxation
time through wilful network ventures. In any case, on the off chance that you have
aspirations to have an imaginative development business, there is a lot you can do.

Need for achievement

Having a medium score, I recognize some of the following characteristics of a high

need for achievement in myself:
 A direction towards the future; Reliance on my capacity
 An idealistic instead of a sceptical viewpoint; A solid errand direction
 Compelling time the board
 A direction towards results, which applies to me as well as other people
 An eagerness, solid drive, and high energy levels
A medium score likely methods you are acceptable at accomplishing work and life balance.

Need for autonomy

My average score shows that I might be glad to fill in as an entrepreneur or as an important
individual from an authoritative group. If I start my endeavour, I may have to develop more
grounded autonomous administration characteristics. Commencing a business is just a
perfect, apparent and single choice available for me.

Creative Tendency
Having a medium score, I may perceive myself as being to some degree imaginative, even
though I am more averse to have extremist, problematic inventive thoughts with game-
evolving impacts. Be that as it may, applying for new advances in a dexterous manner to
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my work, and might be essentially beneficial in the manner in which you create and apply
my aptitudes. On the off chance that I wished to build up a more imaginative methodology,
at that point, I may jump at the chance to think about building up my inactive innovative
abilities. The best conditions for inventiveness are in a casual space where you maintain a
strategic distance from basic reasoning or thinking to afterward use strategies, for example,
conceptualizing or mind-mapping to produce loads of thoughts. Some portion of the
inventiveness cycle includes some inaction to permit the subconscious to deal with thoughts
during a hatching stage. This may prompt unexpected bits of knowledge or Eureka minutes,
albeit imaginative thoughts might be normally the aftereffect of an iterative cycle of
reasoning, utilizing innovative procedures, and unwinding to think of smart thoughts.

Calculated Risk-Taking
I have scored high for determining danger taking. This implies that I may have the accompanying
characteristics:

 Decisiveness, having the option to follow up on inadequate data, and great at deciding when
deficient data is sufficient for making a move
 Mindfulness with the capacity to precisely evaluating my abilities
 Insightful, being acceptable at assessing the imaginable benefits against the conceivable expenses
of activities
 Goal-arranged, setting yourself trying however feasible objectives
 Compelling data the executives, utilizing data to ascertain the likelihood that my activities will be
effective.

With a high score on determined danger taking you are probably going to be truly adept at evaluating
openings and altering data to help you face determining challenges.

Locus of Control

I have scored exceptionally in having an inward locus of control. This implies

that I may have the accompanying characteristics: Opportunistic, looking for
and making the most of chances; Self-confidence with the conviction that you
have command over my fate and I make my karma, instead of being
constrained by destiny; Proactivity, assuming individual liability to explore
issues that emerge to make progress on my standing; Determination,
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communicating a solid will, and trying to apply command over my life; Self-
conviction, where I like the outcomes accomplished with the exertion you
make. Having an inward locus of control implies that I confidently try to apply
command over my life, drawing on my internal assets instead of relying upon
others. I emphatically accept that my characteristics and endeavours will
decide my achievement throughout everyday life.

COMPARISON OF RESULT 1 AND 2

  FIRST ROUND SECOND ROUND

OVERRAL 69% 80%

NEED FOR ACHIEVEMENT 75% 75%

NEED FOR AUTONOMY 73% 73%

CREATIVE TENDENCY 58% 67%

CALCULATED RISK TAKING 75% 92%

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LOCUS OF CONTROL 58% 100%

COMPARISON
120%

100%
100%
92%
80% 83%
80%
75% 75%
69% 67% 67% 67%
60%
58% 58%

40%

20%

0%
OVERRAL NEED FOR NEED FOR CREATIVE CALCULATED LOCUS OF
ACHIEVEMENT AUTONOMY TENDENCY RISK TAKING CONTROL

FIRST ROUND SECOND ROUND

Calculated Risk-Taking
Having a medium score, I perceive myself as being fairly unequivocal and ready to compute
whether my choices and activities are probably going to be effective because of calculative
risk taking strategies. With a high score on determined danger taking I am truly adept at evaluating
openings and altering data to help you face determining challenges.

Locus of Control

Having a medium score, I consider myself an artful, self-confident imprint, proactive and
decided, even though if I dream to commence a brand which I may have to build up my to
make an accomplishment. That is why, with this course, I have scored exceptionally in
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having an inward locus of control. Determination, communicating a solid will,

and trying to apply command over my life; Self-conviction, where I like the
outcomes accomplished with the exertion you make. I emphatically accept that
my characteristics and endeavours will decide my achievement throughout
everyday life.
All other areas are fairly same throughout the round

ACTION PLAN

Building up the accompanying ranges of abilities can likewise assist me with building up my
enterprising aptitudes.

Business management skills -Developing my business aptitudes can mean structure up my

capacity to perform multiple tasks, delegate obligations to subordinates and settling on
choices with respect to the wellbeing and productivity of my business.

Teamwork and leadership skills -Becoming an effective business visionary can likewise
mean taking on influential positions and functioning as a feature of a group. Being an
entrepreneur implies I will in all probability go about as both a chief and as a component of a
group, and I should depend on compelling initiative aptitudes to help propel my group.

Communication and listening - Entrepreneurs and business visionaries should likewise create
powerful relational abilities. From undivided attention to conversations during gatherings,
having the option to convey viably can help me work with others to construct my business.

Customer service skills -From conversing with possible customers to talking about opening
associations, powerful client assistance aptitudes can assist me with interfacing my client
base

Financial skills-Possessing a business can likewise mean dealing with the monetary parts of
my association. I will create monetary abilities by gaining from a monetary organizer,
perusing monetary manuals and utilizing monetary programming to assist me with getting
sorted out and monitor the monetary cycles.

Strategic thinking and planning skills - Basic reasoning abilities can likewise convert into
vital reasoning aptitudes. Business people who have fabricated brands and organizations
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probably applied their essential arranging abilities to create methodologies for developing a
lot their organizations. To be fruitful as a business visionary, it takes arranging and having
the option to think deliberately can permit me to discover approaches to actualize successful
systems to arrive at my objectives.

Technical skills - In view of the accessibility of programming programs for monetary

examination, arranging, showcasing and other business measures, it tends to be very helpful
to build up my specialized aptitudes. Business people with productive mechanical aptitudes
can utilize programming and other advanced methodologies for overseeing ventures,
following deals and income and estimating the presentation of business development.

Marketing and networking skills -Business people may invest most of their energy
showcasing and organizing with different experts to advance and develop their brands.
Having the option to execute effective marking and promoting procedures can be a
fundamental part of turning into a business person. I will take a free online course to begin
with marking and promoting nuts and bolts

There can be various strategies that you can use to build up your enterprising abilities.

Take a course - one profoundly viable strategy to improving my range of abilities as a

business person is to take a seminar on business, promoting, monetary arranging or another
administration part of building up my own image.

Go to workshops I will likewise go to enterprising workshops and systems administration

occasions. Huge numbers of these sorts of occasions may have encountered entrepreneurs
and business people talking about business and systems administration subjects. Beside the
immediate advantage of learning, I can likewise pick up important contacts, talk with
experienced brand proprietors and speakers

Search out experienced coaches - experienced and fruitful business people are glad to help
coach me and offer their expert exhortation.

Develop leadership skills - As I will act in positions of authority, I will request input from
partners and different associates to help me further build up my administration and initiative
abilities. Discovering authority openings, for example, overseeing explicit activities or
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groups, and mentioning input on my presentation as group pioneer to assist me with

improving these abilities

There are a wide range of ways that I will work on applying and building up my pioneering
abilities, and these tips can be a useful spot to begin

CONCLUSION

Project is a very much developed work plan intended to accomplish explicit

destinations inside a predetermined timeframe. A business person creates item
thought through his own current circumstance. Business visionary chooses a
specific item out of various item thoughts accessible to him for additional turn
of events and creation. The possibility report depicts the streamlining cycle and
legitimizes the suppositions and speculation set in this manner choosing the
better elective arrangement and characterizes the away from of venture
practicality. A plausibility study is directed thoroughly by investigating
numerous variables identified with the undertaking. Specialized achievability is
an endeavour to decide how well the specialized necessities of the business can
be met. While choosing a venture, a harmony between the apparent aftereffects
of the task and the general objectives of the organization. There are four types
of business association specifically sole ownership, organization firm, business
entity and cooperatives.

THE VALUE OF ENTREPREURNSHIP IN OUR SOCIETY

Economic Growth - The primary concern of lively entrepreneurialism is that it makes

abundance: for the business person, for the individuals that are utilized therefore and for the
nearby economy. It makes abundance on a public scale for the public authority as tax
collection, which is then reallocated likewise to the administrations and networks that need it
the most. The accomplishment of a business visionary is at last in making an item or
administration that increases the value of the lives of its clients; regardless of whether that is
an intrinsic requirement for the thing or a straightforward longing to have it. In any case, an
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advancement on this scale can assist with pushing a market advances on a home-grown level,
and – where significant – drive fares to new abroad business sectors. This again is an
abundance making exercise, which is a vital driver of financial development. Frequently a
business person needs to face a challenge or two to appreciate achievement, and it is this soul
which fills in as a reminder for some a debilitated industry and economy. Accordingly, it is
those administrations that develop a feeling of entrepreneurialism – through a viable financial
and legitimate structure – that will receive a definitive reward. Flourishing is a two-path road
all things considered.

Philanthropy -Frequently the insights are difficult to quantify – not all business visionaries
wish to flaunt their magnanimous exercises – however most would agree that numerous
effective entrepreneurs, some of whom will have come from monetarily unreliable
childhoods, are quick to rearrange their recently discovered abundance to good cause and
neighbourhood network adventures. As a study led by Harris Interactive and Ernst and Young
named 'Business visionaries and Philanthropy: Investing in the Future' affirms, 90% of
business people give cash and 70% give an asset that is similarly as significant: their time. A
third factor, and one which can't be ignored, is that most business people are effective in light
of the fact that they had the option to recognize market openings or influence benefit from
economies of scale. This sort of information can be fundamental to non-benefit associations.

Innovation - Need is the mother of creation, as the maxim goes, thus maybe it’s more
established kin is development. Most business visionaries enter a market effectively because
of their inventive methodology: regardless of whether that is intrinsic in the
item/administration they offer, or in the manner by which they convey it. By finding an
answer for an issue – regardless of whether it was unequivocal or simply an open door for
upper hand, a business visionary can drive advancement in a market and make rivalry; a
hypothesis that outcomes in better and regularly more moderate items and administrations for
customers. Steve Jobs and his Apple partners concocted the iPod, and this made a zone of
advancement in MP3 players. Today, this is a dynamic industry with numerous contenders;
which has made mechanical greatness at the top finish of the market and completely
utilitarian items at the spending end. Who wins? The purchasing public.

Improved competition - Achievement breeds achievement, and once one business person has
thrived in a given market usually another finance manager or lady hopes to make the most of
their own cut of the pie. As we probably am aware, rivalry is something beneficial for the
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shopper, as it expects organizations to conveyance a superior quality item to endure. This can
likewise make value wars (investigate the progressing fight between the Xbox and
PlayStation as a genuine model), and the facts demonstrate that frequently just the most
grounded will flourish. However, the advantages to the overall population are self-evident.

Value of entrepreneurship for my own career

Sustains Personal Growth and Development it makes opportunity, ingrains certainty,

guarantees social equity and animates the economy. Business instruction likewise furnishes
sprouting business visionaries with the abilities and information to think of business thoughts
and build up my own endeavour And this incorporates assisting me with finding out about
centre business regions also, more extensive running aptitudes, for example, flexibility,
viable correspondence, and certainty.

Relevance -The profit of learning pioneering capacities over further traditional subjects is that
these are not over pertinent to a vocation as a business person. The abilities required for the
business are varied and important in any field and would likewise be attractive traits for being
a representative. Indeed, having a wide scope of business-applicable abilities procured
through considering business would make me an ideal up-and-comer in many fields.
Consequently, aptitudes instructed in business visionary courses for the most part apply to all
zones of industry and don't execute innovativeness or square occasion to a particular
vocation.

Risk taking -In the realm of business, hazard is a typical event. Also, to have the option to
prevail in it, I need to chip away at own character qualities – hazard taking and perseverance.
A business venture program cultivates these character characteristics. This is the reason it's
gainful for me when I will end up in a genuine circumstance.

Make a Difference -The world has never been more needing understudies who are attempting
to have any kind of effect than it is today.. Indeed, I will probably sell items and
administrations, however this is only one bit of the whole riddle. To get effective at it, I need
to distinguish the genuine requirements and issues of individuals and fathom them.

Readiness for Real Life - As our schooling situation gets tormented with inflexible testing
and principles, occasions to advance, work together and exhibit capability, all things
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considered, circumstances become uncommon. Notwithstanding promising individuals,

business training expects understudies to be inventive, innovative and cooperative with
others. Business venture training centres on growing true aptitudes that will assist me with
having uncommon existences in a quickly evolving world.