The Enterprise and the Entrepreneurship
The enterprise is the area that controls the overall stream of the world market, and the entrepreneurs are the ones who alter the course of this stream. All great companies were developed by people, and each of them has an enormous influence on every human in the world as well as humanity in general. When a company has already evolved to a rather high level, it is working as one ideal mechanism, but this process also has its complicated origins. The corporation starts with a competent business plan and purposeful entrepreneur who, as a rule, is leading it to success. It proves that the business operator is a key detail in the huge business arrangement.
The Main Aspects of Successful Business Idea
The idea that breaks into one’s mind and overturns the consciousness might result at the beginning of a business. A person understands that this is what might exactly be worth all their efforts. People try to set up some businesses for different reasons, but to tell the truth, the only reason that must be considered first is the utility of this idea for humanity. In other words, the question is as follows: “What help can I do to serve this world better?” When the focus is exactly on productivity but not on profit, it can be said that 50% of the job is done. The main purpose of any successful business is to carry some wholesome attendance to those people who have assumed the consumers of this product.
Every new project opens with a presentation, which is aimed at the commitment of the investors who may finance a project. Mostly, the success of the future business depends on how an entrepreneur organizes the presentation process. For example, some tricks can lead directly to success. It is crucial to be extremely steady. A look and gesticulations have to inspire confidence. The tone quality of the voice should be calm and friendly. The presentation must have impregnable statements that would force all listeners to deeply analyze the idea of the project and finally decide if it is worth their money. Of course, success should not be expected if a plan is uncompleted, but if it is packed well and ready to break the market’s frames, no obstacles must retard it.
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Establishment of Different Kinds of Enterprise
Nowadays, there are four main types of enterprises. Such kinds define the strategic plan for the further development of any business (Galbraith 2014). The categories are presented below:
- Sole proprietorship.
- Limited Liability Company (LLC).
To understand the establishment of these kinds properly, it is very significant to examine the main principles and differences between them thoroughly.
- Sole proprietorship. Such type is the easiest one. One single person is responsible for the development and juridical aspects of the project. He/she owns a business. The process of setting up a company is not too complicated and does not take too much time. The tax system is also very simplified, which is one of the most attractive aspects. The most significant reason why the sole proprietorship is much more convenient is that the freedom of running a business is full-fledged. One’s point of view is the only thing that matters, and a company can fully reflect an owner’s philosophical ideology.
- Partnership. Such type is almost the same as the previous one. The only difference is that more than one person is running a business. The tax system is also simple, while the setting process does not take much time. However, some concerns should be considered. To be more exact, two different alternatives are possible. The kind of enterprise described here is called a traditional partnership, which is easy to establish. The great advantage of it is that the responsibilities are divided, so it is more convenient to arrange the business-controlling process. The main disadvantage relates to the profit, which is also divided. It is also good if the partners see the world from the same side, but if a point of view is different, it is sometimes very difficult to find a compromise.
- Limited Liability Company. Limited Liability Companies are the most common form of business organization in the United Kingdom (Stephan et al. 2014). The reason why this type is the most common is due to it its high protection level. A company takes all money expenses, and no personal belonging is willing to take part in these transactions. In other words, despite the success or failure of a company, the personal wealth of directors or shareholders are protected by the government law system.
- Corporation. The process of corporation setting is the most complicated. Nowadays, there is plenty of paperwork and difficult juridical issues that are of the utmost importance. The type is common among the big companies or ambitious projects that look much further into the future. The form is most likely to attract investors and get additional funding for the project's evolution. Two main types of corporations exist, namely S-Corporation and C-Corporation. The main difference is that the income of the S-Corporation is reported to the shareholders, while the C-Corporation stands for both the shareholder and the company level.
My Personal Entrepreneurship Skills Evaluation
I have always understood the basic truth: to be successful in different areas in life, you have to be an unequaled entrepreneur. Since my childhood, I have tried to develop my entrepreneurship skills as much as possible. I know that there are a couple of ways to understand what exactly is needed to be improved. The first technique is to ask yourself: “Why would I be a good entrepreneur?” It allows to realize and evaluate personal skills that must be gained for the rapid evolution of an entrepreneur inside this person. For example, I have always been hard-working and purposeful, but sometimes, I needed more discipline to support my positive qualities. The range of skills is enormous and applicable in various extend of importance in different fields, but some fundamental parts are impossible to ignore in case your goal is to be the best entrepreneur.
The most important qualities are:
- · Consistency of aim- the ability not to give up even in the hardest situations and overcome compound obstacles. The true leader gets up and continues struggling even if he/she has suffered a repulse 100 times already.
- · Self-discipline- the ability to carry out all duties and actions that are required to achieve. The day has to be planned, so it would be as effective as possible. For different people, the methods are very diverse. The main goal is to find what is the most suitable for you in your daily organization. For example, every day of mine starts with morning meditation and exercises, which help me maintain my mind clear and make appropriate decisions in critical situations without being stressed.
- · Optimism- the ability to accept life as it is and install a positive way of thinking. It is very significant to concentrate the consciousness only on some major aspects. The such fact stands for reason, as a human attracts what he/she thinks about. Every dream is possible only if true faith is evolved.
- · Multitasking performance- the ability of an entrepreneur to concentrate on many tasks at the same time. The work of a leader is very dynamic. Sometimes, stressful situations occur, and it is crucial to control yourself, calm down, breathe deeply, and define how to navigate the multiplex situation.
- · Leadership- the ability to be the first and true winner in all areas. Independence from foreign opinion is very important for a true leader. When essential decisions are required to maintain a business mechanism and achieve the aimed results, it is significant to use an independent point of view to make the appropriate choice.
- Creativity- the ability to be creative and open-minded while developing a business model. The world market is full of different companies and service activities that have already been presented and sold; thus, to find your place there, the deepest areas of the mindsight must be activated. Only the most creative ideas survive.
The Importance of Being Successful Commercial and Social Entrepreneurs
A good entrepreneur is not a profession. It is the enrolment of personal and professional skills that define someone as the one who can control life as well as be happy and pleasant at any point in the timeline (Tracy 1995). The enterprises can be commercial or social, but the principles of the inner evolution are the same. The whole thing is in the establishment of controlling processes. When a business is commercial-based, the issues are all regarding business knowledge and skills.
When it is socially based, the social relationships and accordant self-realizations are of the utmost importance. The thing is that all these fields are closely related to each other. It is impossible to show worth in the commercial area without being successful in the social area. A true entrepreneur primarily holds all the levers of influence in their hands despite the field of activity. It is the characteristic of a real leader. If all factors are considered broadly, an individual would be able to realize themselves as the best entrepreneur in any field of opportunities.
Proposed Business Ideas
The first start-up that is defined as the main idea is Drones Logistic Company. Nowadays, quadcopters are greatly developed. The idea of this business is in the air delivery of various goods. The weight of them must not exceed 10 kilos due to the current mechanical equipment of the devices. The customers would be able to order the delivery service in their city. For example, the pizza delivery. Considering the current development of technology, this concept might work.
The second idea is a company that provides the cars with a modern voice control system and GPS signalizing. It relates to additional functioning that cannot be offered by the official automobile factory. The system is technological and allows the customers to use many features, thus greatly simplifying the use of the onboard computer.
Another idea relates to the children's clothes. The company would produce unusual customized clothes for little children. The parents who are trendy and want their babies to be fashionable are deemed to be supposed consumers. The business organization would offer many types of clothes design and sewing, which would be creative and original.
Analyze production and marketing feasibility
The drones’ delivery is aimed at all people that may need to order any kind of product. The cost of drone delivery is much cheaper than petroleum-based shipment. The only problem is that the distance should not be too long, but the speed and effectiveness are worth all the effort. The fastest drone in the world can reach a speed of up to 149 miles per hour, and it is not the maximum (Aitken 2018). It is very convenient for the consumers, as they get perfect service for an acceptable price. The business is complicated, but the profit can be huge. The organization process is based on the multiple stations around the city. Each station should have a definite number of drones. The drone operators would coordinate the machines and control the money transactions. Moreover, the autopilot system is integrated, but several employees are required to maintain appropriate business control. The market is out of competition.
The voice control system is another idea that might serve well to the supposed customers. The main production strategy is based on the high technological content solution for automobiles with onboard computers. Currently, almost all middle-class cars have problems with integrated hardware. The display is inconvenient and hard to use. The voice control system, which is called VCS, is the best solution for this problem. It can be simply integrated into any software and provide many wholesome functions. In other words, any process would be controlled with voice commands. For example, there are such commands as open/close the windows, launch the engine, shift gears, or control the display. In addition, the organization would develop the signalizing system by the means of using the latest methods in GPS technologies.
The third idea relates to custom children's clothes. The production of designer clothes for children from zero to 12 years is the main aim of this business. The competition is huge, but the main principle of the organization is to provide something original, which cannot be bought in any casual shop. For instance, a couple of unusual techniques can be used to achieve that, namely the shirts with fluorescent sputter to shine at night; trousers with pant legs of a different color; different clothes that cannot be smeared for those babies who like to play in the mud; and any designed costumes of different multiplication thematic are also in the list. One more interesting feature is the clothes with the design of the 16-19th centuries. Such design should be modest but rather expressive at the same time to exert an overwhelming effect (Buck 1996).
Business Plan for the Main Idea
Background, product, and purposes. The correct and effective business plan must be short, clear, and aimed at a definite audience (Horan 2015). The nature of the idea belongs to the delivery problem. In compliance with heavy traffic and petroleum price, freight logistics is not as effective now as it was ten years ago. The prices are much higher, and the waiting time has arisen. the proposed business idea of drone deliveries is unique. It offers fast in-time delivery of any goods of a certain weight to any destination in a range of a city. The price is adequate, as the quadcopters’ source of power is electricity, which is cheaper than petroleum. Considering that the air space is free from obstacles, the flying time and speed of the drones are arranged in a way that an interval between the order placement and delivery would not exceed 60 minutes. The project is extensional and very money-losing, but it is worth the effort. The drone stations would be organized around the city at a definite range. In case an order is received, the system would look for a drone that is close to a customer. The drone operators would be responsible for route coordinating and customer support. The main company’s goals are:
- · Provide the best sky delivery service.
- · Achieve the best quality of customer-manager cooperation.
- · Spread the business far beyond the United Kingdom boundaries.
- Marketing analysis. The logistic market is full of different companies and various services, but the drone service is currently beyond humans’ comprehension. The best idea is always the one that might not be accepted by society (Graham 2006). At first sight, it seems crazy, but the expert technological approach would bring this concept to the highest level. The drone business is going to crush the market, and in case of a successful start and accurate development, it might become the greatest drone logistic corporation in the world in the next ten years. The evolution must be as rapid as possible. All marketing techniques should be applied to achieve the desired results. The pricing strategy is deemed to be conservative at the beginning with the following progressive growth until the determined level.
- Development, production, and location. The development process includes a deep investigation of the drones’ functioning process, software, and website design. Firstly, iOS and Android apps would be developed. The apps would represent the bridge between a customer and a company. An order would be sent to a manager after it appears in the system. The manager then chooses what drone from what station would carry out the delivery. The station operator would coordinate the quadcopter. The technician would check the efficiency of the drone and provide technical supply in case it is needed. The drones are customized in the factory with an installed GPS and autopilot. The price for one drone would waver from four to five thousand pounds depending on the model, software installed, and video security system. The timetable for delivering the services varies from one to two years depending on the speed of project organizing due to the complicated juridical process. Major steps should be taken to assure quality and safety. Firstly, only properly examined drones would be used to deliver the shipments. Secondly, the highly professional employees would be attracted to provide the best service and appropriately maintain the business managing mechanism.
- Business management. Business management is the steering control for the newly established business that uses the systematized knowledge and techniques for the best results (Collins 2004). The business management of Drones Logistic Company is based on a multi-layered system. The top management would be located at the central office. The main duties of this specialist are:
- · Provide customers with the necessary help.
- · Elaborate on all income orders.
- · Compose the statistics based on consumers’ reviews.
- · Manage the number of drones required for the proper working process.
- · Apply for the supply details from the quadcopters’ factory if needed.
- · Apply for the in-time software reinvention.
- · Take control of the appropriate work of all drones.
- · Make briefings for new employees.
The next level is the stations that would be located within a range of a city at a distance of seven km from each other: it is the average radius of drone route out and back to the station without using additional battery recharge (Aitken 2015). Each station would have a drone charging supply, where the drones would be maintained and prepared for the next flight. Two employees would work there:
· Drone operators would be responsible for coordinating the drones, observing the route, negotiating with the UK airspace control authorities, and assuring that the consumers receive a parcel.
· Technicians would be responsible for maintaining the drones in stand-by position, charging the batteries, as well as preparing the lashings or boxes for goods’ transportation based on the weight and size of the load.
Financial information. The project is rather cost-based. Most of the expenses are the purchase of drones. To start the business successfully, it is necessary to understand the quantity of the expected orders at the beginning. For example, one may take London. The population there is 8,136,000. At first, the business aims to serve 1% of the population based on Ikea Research (Stenebo 2010). It is 80,000 orders daily. Considering that the main working hours are from 8 a.m. to 8 p.m, there would be around 6,500 orders per hour. It means that every hour, 5000 drones are required for maintaining the best service. Thirty stations must be built and comprise 215 drones. The cost of one station is:
- · Appropriate storage and lashing of 215 drones- 200,000 pounds.
- · Drones and supplying materials- 1,075,000 pounds.
- · Four computers with software for drone control.
- · Salary of four operators and two technicians (monthly) – 13,500 pounds.
- · General repair of the facility – 250,000 pounds.
- · Other costs – 70,000 pounds.
Totally, for one station, the costs are 1,600,000 pounds. Considering 30 stations at the beginning, the costs would be 48,000,000 pounds. The costs for the central office are 2,000,000 pounds. Other costs, including marketing and all needed research, are 500,000 pounds. In summary, to launch the project, 50,500,000 pounds are required.
Risk factors and marketing plan. The risk factors for this business are greatly minimized, as the competition in this definite field is absent. It is crucial to provide all business development and pay attention to juridical issues as well since many authorization documents are needed to use drones in the air by the United Kingdom laws.
The marketing plan is aimed at the rapid use of all current methods. The marketing techniques would be provided through the help of:
- · Social media, such as Facebook, Twitter, YouTube, and Instagram.
- · Billboard marketing.
- · Object example.
Control and monitoring mechanism for the business plan. The monitoring process of a business plan is the most significant step. It is the summarisation of all achievements of a business. Firstly, it is important to set little goals. The company surely has enormous objectives, but it is hard to monitor the result when the focus of the attention is aimed at great purposes. Every week, the summarisation of the past week and achievements must be provided. The perfect business plan is dynamic. It changes with circumstances or results that have not satisfied the expectations. The strategy is based on one-month periods. At the beginning of every month, the organization’s authorities define the goals for the next four weeks. If the goals in the final result are not delivered on hopes, the strategy changes for the next month to provide the best results.
Reflections on Innovation and Creativity Changes in the Entrepreneurship
It is very important to maintain the appropriate business process for a successful organization. To achieve all the goals that are set, the motivation of the working team is of utmost importance. It always improves performance and deposes productivity, which brings the business company to a higher level of extension and business results (Martin 2009). Nowadays, there is a system that can encourage the employees and motivate them every day. It consists of different methods that are not easy to apply, but gradually, they allow to achieve spectacular results.
- Set little goals as well as big goals. It is important to set different goals and present them as a game. Competitive interest always encourages people to struggle, especially if a reward is worth it. One should make a contest for the best month worker; the reward for a winner would be a 15% increase in pay. However, not only a winner should be granted, as other employees might be discouraged. The first three places can be rewarded, and others must be given some advantage in the next month to encourage them to make more efforts. Another approach can also be considered, and it is called the One Year Game. A worker who shows the best results during a year would get a promotion, which would be the best reward for him/her.
- Give the employees in time and fair bonuses and rest. Mostly, the quality of the work must be accounted for but not the volume. Usually, there is daily work, and the top management should divide it equally among the workers. As a rule, the employees try to set their time for the amount of job, and there is one method that is the perfect solution for the problem. It is called pay not for the volume but the quality of work. If a worker knows that after everything is completed he/she would be free and have a couple of more additional rest hours a day, the time for making this job would be decreased twice.
- Share the results with employees. It is the technique that allows each employee to feel like a real entrepreneur. The authorities of a company give every employee a task for the business management of an organization. After delivering the result, such a person can be rewarded fairly or promoted to a new position. One important rule is that the contest should be with fully open results and a management process, so the workers can share the experience.
The Example of a Successful Company
The most creative, innovative, and successful company is Google. It takes great care not only about the results but also about the work environment of the employees (Schmidt 2015). The corporation applies many innovative management technologies. The most significant of them are:
· The ample and bright offices with unusual furniture. The working space is designed in a modern style; every single office differs from another one. An employee feels comfortable and relaxed in such uncommon conditions.
· The campus is designed for the workers to feel at home. The people are free to choose how much time they work, and it has a positive influence on the company’s productiveness. The campus is fitted with shower cubicles, changing room, comfortable beds, and a gym. In case it is needed, it is possible to stay on campus for a couple of days and work as much as one wants.
· Healthy food for free is another option that Google provides. For example, there are dining rooms where it is possible to take a snack or have lunch. In addition, the choice of food is enormous, from classic American burgers to Japanese sushi rolls (Schmidt 2015)
Google provides its staff with one weird option that is prohibited at all other companies. The corporation has no interdiction for alcohol. On the contrary, every Friday, the employees drink alcohol right in their workplaces. It is unbelievable, but all these methods are the reason why Google is improving with the speed of light. The management gives much freedom to the people who work there, which makes every graduate want to apply for a job at Google.
All in all, it is a very difficult and sometimes painful process of becoming a successful commercial entrepreneur as well as a social entrepreneur, but it is undoubtedly worth all the efforts. Summarising all considered information about different management processes and operating models that exist in modern enterprises, it is clear that a key to success is well-organized teamwork, but the management is responsible for organizing this work correctly. A leader has to look at one situation from different sides and after that make the right decision considering the organization’s interests as well as employees’ ones. As a result, the maintaining of the operating model is achieved through all described techniques, which makes a business prosperous. The case of a company that aims to use drones to deliver goods to clients is the perfect one. The whole structure and inner processes of a potential company were investigated to show a clear picture of what to expect from such a business. Now, the investors can easily see what to expect from such a business and how much money it requires. Such an approach is very useful and can allow predicting all the potential risks while presenting a business idea to the investors. Moreover, it also considers the interests of the workers since they are the main asset of every company.