Assignment Sample on Case Study on an International Entrepreneur
Part A
Introduction and Background
This descriptive study which emphasizes on providing significant perspectives on international entrepreneurs (IE), with Bonnie Chiu, the Co-Founder as well as CEO of Lensational along with the Managing Director of The Social Investment Consultancy or TCIS, as even the main emphasis. Nevertheless, it is necessary to initially define the concepts that might be used to describe the underlying notion of entrepreneurial ventures. Throughout this case, the essential aspects that should be highlighted are Kirzner’s (2009) priority directive to concentrate on attentiveness. Alertness triggers a desire in humans that contributes to significant breakthroughs and a sense of fulfilment. The entrepreneurial innovation process might be directly linked to and accentuated in relation to these circumstances and events, which are defined through the entrepreneurial performer’s interpretive framework. Conversely, according to Hisrich (1990), its most important quality that any leadership should possess is perspective, which has grown in significance in direct relation to the job of leadership, that should be regarded suitable. Considering the various styles of leadership that this researcher might emphasize, it’s also psychologically significant. Similarly, Oviatt and McDougall (2005) broaden the term to include the essential tasks of enactment, utilization, and appraisal of prospects upon breakthrough. In terms of IE, such activities take place beyond national boundaries, with the IE having the potential to build or fashion innovative product and services throughout the coming years.
In this example, some of the most important elements have been skillfully uncovered and exhibited by the international entrepreneur Bonnie Chiu, who has unified and accentuated them. Within this spirit, she describes herself as a societal entrepreneur, a proponent of gender parity, as well as a social implications and impact investment strategist who has been at the forefront of all of these disciplines. Integrating all of these characteristics has been a crucial aspect of the overall viewpoint that will provide the findings in this scenario. This is the indicator that indicates and connects with Chiu’s activity, which has now been acknowledged by a wide range of people in many areas and businesses. Her founding of Lensational, the non-profit organization dedicated to empowering underprivileged women throughout the globe with photographic and virtual storytelling abilities, envisions a brighter future in which her perspective, as described by Hisrich (1990), is emphasized. She has indeed broadened her horizons in terms of where her engagement with TCIS as well as social investments may be found, such as an established Investment Toolkit as well as the creation of additional connections.
Motivation to set up the ventures/businesses
This is undeniable that such IE’s history has had a significant impact on her actions and accomplishments, which have helped to legitimate her status. Her origins come from Hong Kong as well as Indonesia, both of which are emerging countries, and that fact is significant in regards of underlining big difficulties across the spectrum. Carsrud and Brännback (2011) claim that her familial connections and upbringing in understanding the environment as a worldwide community had a significant effect and consequence on her, leading her to become a societal entrepreneur. Within that instance, there is indeed a required degree of separation that might understandably shape human motivation around these perspectives. Her previous experiences have inspired her to consider as a citizen of the world, reflecting on her travels to many regions of the globe and major cities such as Singapore, Pakistan, the United States, the United Kingdom, Denmark, as well as Germany.
There are many additional circumstances in conceptual outlooks that might explain the IE’s motivations, particularly considering how complicated human behavior can be. Chiu has clearly created her professionalism as a fascinating illustration as IE, that is something which Maslow’s Hierarchical Structure of Needs fundamentally equates with the greatest amount of self-actualization in considerations of becoming a prosperous entrepreneur (Carsrud and Brännback, 2011). Within that case, the most important aspect to contemplate is to emphasize her satisfying success on all fundamental aspects to a substantial degree, allowing her to convert and correlate with the prospects correctly.
However, these circumstances may not always refer to push-and-pull variables, which might be highlighted using McClelland’s Acquired Needs Theory, that integrates together with Theory of High Achievement. The earlier emphasizes that most people have three sorts of needs: success, authority, and allegiance. Furthermore, McClelland (1965) points out that there have been options that are particularly linked to two defining qualities of entrepreneurship. They are emphasized by first accomplishing things within a superior and novel method. Chiu has successfully demonstrated it to become related with her motives of merging all three categories of needs to bring about large-scale changes. The following attribute of making judgments under particular circumstances also speaks immediately to the overall view throughout this scenario. She has written Investment Toolkits as well as developed genuine networks throughout the worldwide sector, all of which have discussed how to precisely tackle this issue in general.
Trait Theories Application
There are several unique possibilities for the evaluative components of IEs to also be linked to the idea of a characteristic. This is a natural trait of any human being that affects the individual’s attitude, reasoning, comprehension, and action in order for the person to generate outcomes. With entrepreneurship, specific features have been recognized, emphasized, and represented, including creative and imaginative talents, strong risk-taking proclivity, as well as the ability to perceive an idea properly in order to establish and operate a company endeavor correctly (Stewart, 2006). The circumstances that are emphasized with Chiu’s experienced actions in general. Most notably, she has indeed been prepared to successfully materialize major networks via which she has become capable of forming many organizations, both for financial gain and non-profit purposes. Burns’ understanding of transformative leadership effectively refutes the pre-conditioning of a characteristic as an innate capability present from birth (Stewart, 2006). Chiu’s ability to interact with individuals has shown this across her professional life.
Effectuation Theories Application
There is still strong evidence in the conception of entrepreneurship regarding the assertion that individual IE should engage in many entrepreneurial engagements and procedures. Making judgments and doing actions are deemed vital in considerations of representing their situation of circumstances in regards of becoming an IE, as stated by Sarasvathy (2001) as shifting away from predetermination and operating throughout such a different manner. In this scenario, determining what should be performed ‘after that’ as well as the optimum means to attain such objectives should be crucial identified and acknowledged, followed by balancing activities and capabilities while progressing along the path. The idea of effectuation throughout this scenario is influenced by various uncertainties and hazards that will be associated with the procedures (Sarasvathy, 2001). Chiu had also exemplified Crazy Quilt the far more, since she has established networks and collaborations all around the world. She has indeed illustrated the need of minimizing risk while establishing and administering a large number of assets. Most significantly, it is obvious including how she interacts with individuals and consequently affects them, as well as industries and organizations, that her whole viewpoint might be usefully framed to represent the current state of affairs.
Lessons Learned
It is obvious from these concepts’ implementation and assessment of Bonnie Chiu’s story that she represents an extremely competent entrepreneur who has strongly affiliated herself within the societal sector in attempt to achieve all of its essential outputs and accomplishments.
Part B
Themes and how IE associates with them
In regards of the essential actions and disclosure of facts, Bonnie Chiu being an IE comes under many themes that might be considered successfully in perspective of actual circumstances. These highlight the overall circumstances, primarily and largely in terms of ‘social entrepreneurship,’ that is usually seen as an essential approach for competent actors to create and finance remedies in attempt to effectively solve social challenges (Bansal, Garg and Sharma, 2019). It is most immediately addressed by Chiu’s non-profit organization Lensational, which focuses on vital abilities among women who have been marginalized across the globe. Social entrepreneurship can also be seen to exist on extremely large scale, with the potential to solve a variety of ethnic and ecological challenges. TCIS has been linked to these disorders by Chiu throughout the majority of cases.
In this situation, another crucial element involves ‘impact investment,’ that must have beneficial societal as well as other applicable benefits while simultaneously providing sustainable financial benefit. In this situation, it’s feasible to see the various aspects and circumstances that Chiu has embedded consultation solutions with TCIS throughout this respect (Phillips and Johnson, 2021). The Investment Toolkit, that remains among the finest on the industry, has also assisted to ensure that these goals are met.
Current Debates
The present key arguments center about how to improve the circumstances for social entrepreneurship as well as impact investing (Bansal, Garg and Sharma, 2019). The important aspects to observe in this situation are that profit-oriented mentality still exist, however they have had a significant impact on the instance of effecting change as well as other circumstances in the overall scenario (Phillips and Johnson, 2021). The necessity of direct communication, which Chiu has undoubtedly established inside this situation, emphasizes this point.
Conclusion
There has already been a clear separation of different elements across both Parts A as well as B, that has successfully provided using all the required reflections showing Chiu’s IE activities have been directed effectively with the support of invention, inventiveness, and cleverness in regards of the perspective that she always possessed. More crucially, they confront a number of lingering concerns and limitations in attempt to successfully conquer those.
Reference List
Bansal, S., Garg, I. and Sharma, G.D., 2019. Social entrepreneurship as a path for social change and driver of sustainable development: A systematic review and research agenda. Sustainability, 11(4), p.1091.
Carsrud, A. and Brännback, M., 2011. Entrepreneurial motivations: what do we still need to know?. Journal of small business management, 49(1), pp.9-26.
Hisrich, R.D., 1990. Entrepreneurship/intrapreneurship (Vol. 45, No. 2, p. 209). American Psychological Association.
Kirzner, I.M., 2009. The alert and creative entrepreneur: A clarification. Small Business Economics, 32(2), pp.145-152.
McClelland, D.C., 1965. Toward a theory of motive acquisition. American psychologist, 20(5), p.321.
Oviatt, B.M. and McDougall, P.P., 2005. Defining international entrepreneurship and modeling the speed of internationalization. Entrepreneurship theory and practice, 29(5), pp.537-553.
Phillips, S.D. and Johnson, B., 2021. Inching to impact: The demand side of social impact investing. Journal of Business Ethics, 168(3), pp.615-629.
Sarasvathy, S.D., 2001. Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of management Review, 26(2), pp.243-263.
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