Entrepreneurship in one of the simplest terms is the act of doing something new by oneself, which could be an innovation or just a new business venture. Unlike what was perceived to be purely innovation driven business, entrepreneurial dimension has changed significantly over the years. Some of the most commonly reputed and identified qualities of an entrepreneur are risk taking nature, leadership skills, and unconventional decision making (Shane, 2003). Shifting from the generic trends of a business venture, the definition of entrepreneurship has been expanded to include political and social ventures as well and that different ventures vary based on the level of creativity and type of business (Shane, 2003). Each entrepreneur has different skills set and face differing situations and thus respond differently to various challenges they face. In order to better understand the underlying thought processes, the various risks and challenges, and to assess the attributes of an entrepreneur this report would evaluate two entrepreneurs based on semi structured interviews.
For the purpose of this assignment, I have selected two totally different business ventures namely Careline Health Product and Crown Trading Pty Ltd that are established in Perth and China respectively. Both the persons interviewed have shown entrepreneurial jest and have been able to successfully tide over various challenges to establish business. Starting from nowhere, spotting the opportunities in market, both persons have been able to leverage their inclination and urge towards self owned business. One of them was a housewife and had no prior work experience before starting the business and other person had some prior experience in the same industry of operation that he leveraged. Belonging to totally different family background, they have followed their heart and have seized the opportunity to give business a try instead of simply joining a company and working as a permanent employee in the area of interest. Hence, I feel the choices made are justified and that the following section would further clarify the choice of these two ventures for the purpose of this assignment.