Business Essay Sample on Understanding Enterprising and Commercial Awareness

PART 1: Understanding Enterprising

From the definition, enterprising is used to make sound reasoning of thinking and doing a new and different thing. The enterprises usually deals with aims of making money. For achievement of the enterprising goals and objectives, there is a need for resourceful skills (Vyakarnam & Neal, 2011). With the full knowledge of the enterprise's ability, then someone can make a good enterpriser. The creative skills essential vary from commercial awareness, innovating and creative thinking, time management and prioritization, as well as problem-solving skills (Carlen, 2017). Communication, persuasion and negotiation tactics work to compliment these skills. This paper will explore how to use the creative thinking in solving the road casualties which leads to several injuries and death.

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One of the significant difficulties battled by the world is how to phase out road casualties and solve the transport problem; however, there have been several attempts to reduce road casualties and improve transport system by various countries including the United Kingdom (Geoffrey, 2017). These attempts include the formation of the traffic rules, enhancement of communication campaigns, making the road broad with visible boundaries and so forth. Human error causes nearly 90% of all road accidents, therefore, the need to create an enterprising idea to solve the problem. As a resourceful person, I have innovated ZeroadAcc programme an application aimed at reducing road casualties and transport quagmire in all the countries that embrace the technology. ZeroadAcc is a computerized program installed in the vehicle to control their movement. Because communication and negotiation are one of the skills that I have acquired in the enterprising class, I shall negotiate with the computer software expert at various motor-vehicles industries to install the program in the vehicles. Vehicles will, therefore, be controlled from a central place using the computerized programme in each region.

The vehicles with this programme will be "driverless," that is, no driver needed in the automobiles at any one point. This autonomous driving program entails fitting the vehicles with a device that can detect the number of people to board it at a particular time and the seats that remain unoccupied. Each person is to enter his/her terminal point once in, where the vehicle will automatically stop for the person to alight.

The program will detect distance in between the vehicles and control the speed of each car. The program is sophisticated enough to maintain vehicles on the road without losing control; it will reduce the accidents arising drivers from drivers fatigue. ZeroadAcc Control the speed of cars, however, if there is an urgent need of gear up, the person is to apply and pay a certain amount after which the automated program will have the car speed in a different lane reserved for speed.

With the ZeroadAcc program, the road accidents get reduced immensely. The problem of traffic jam in most cities of the world will get minimized. Because there will be no need for the drivers to be available for the vehicle to operate, then it will give a chance for opening up workforce to other job opportunities and increase the capacity of the cars since the space that the driver occupies will be for a passenger. As a person interested in creativity, I saw an opportunity in the transport industry, whereby, I took the risk of venturing into a new area of driverless cars, showing initiative and resourcefulness.

PART 2: Commercial Awareness

Commercial awareness is one of the critical components required in the business and is specific for successful enterprises (Miramontes, 2013). This is the knowledge of the business company you are working for, the critical business issues for the company's success or failure and the key competitors that are in the business (William, 2012). This paper explores on the McLaren, which is a technological company dealing with the automotive and has been a successful company in the United Kingdom.

McLaren Automotive Company is one of the successful automobile companies majoring in the marketing and manufacturing of sports cars. Their sports cars have maintained the history of heavy duty performance. Having unveiled its first production car of 12C in the year 2007, after six years, the company has been in a position to boast a various range of high-class performance car. These cars include super series, final series, sports series and an assortment of one-off customized vehicles. These cars get manufactured through McLaren Special Operation (MSO). With the introduction of "Track22" business plan, the McLaren Company has introduced another shift of production by the year 2015. The company has a two-fold output in every subsequent year of its product.

The reason why McLaren Automotive Company has been doing well in the United Kingdom and achievement depends on a range of techniques applied by the company. The main reason for its success is the culture of innovativeness ever since it launched. It is one of the companies that has adopted an integrated pattern of belief, behavior and human knowledge which depends on the capability of its leadership in transmitting the experience of success to the succeeding generation. This achievement stands through hiring some of the best CEOs like Mike Flewitt who has a record of success in the organization he has headed in the past. In the process, it, therefore, provides reputable customer service. This culture is achieved through training and design of the heavy duty automobiles. The company, therefore, has a business plan that dictates on the provision of a quality customer service.

The attitude of the company has been another factor that enables McLaren Company to do well. The company has what can be defined as 100 percent attitude to accept the responsibility. This has called for making even changes and adjustments to achieve the desired result (Miramontes, 2013). The company has hired and trained the right people, and at the same time eliminating those who are ineffective. For the employees who are in the company, they are provided with necessary resources to help them maintain a positive attitude and master their task.

Other factors that I consider to be the reason for development and success of McLaren Automotive Company include the excellent business plan strategy, and discipline in executing the strategy and remaining within the course of the policy and financial plan (Kashif, Ashraf & Tauqir, 2010). They have also taken the risk of changing the automobile business climate through the introduction of Truck 22. I also understand that the company has recognized the business process hence able to create predictability. The company has gone hand in hand with the technological change in the information sector that facilitates marketing and sales for the company (Ngwane, 2016).

References

Carlen, Joe. (2017) "An Enterprising Faith." Columbia Hertfordshire University Press 4, no. 3, 78-80. doi:10.7312/columbia/9780231173049.003.0005.

Geoffry, G. (2017). Commuting Accidents. A study of commuting accidents and casualities in some UK regions during 2016. Accident Analysis & Prevention, 16(2), 152-153.

Kashif, M., Ashraf, K., & Tauqir, M. A. (2010). Determining the Key Success Factors for Business School Success: The Student's Perspective. SSRN Electronic Journal, 18(19), 98-100. doi:10.2139/ssrn.1699199

Miramontes, Ofelia (2013). "How Does a Business Continuity Program Help My Business, and How Is It Managed?" Business Continuity 9, no. 17, 7-11. doi:10.1016/b978-0-12-411648-1.00002-7.

Neokosmidis, I., Rokkas, T., & Xydias, D. (2017). Roadmap to 5G success: Influencing factors and an innovative business model. 2017 Internet of Things Business Models, Users, and Networks, 5(6), 13-15. doi:10.1109/ctte.2017.8260990

Ngwane, C. N. (2016). USING ENTREPRENEURSHIP EDUCATION TO ENHANCE ENTERPRISING SKILLS OF STREET VENDORS IN DURBAN. EDULEARN16 Proceedings, 16(10), 5052. doi:10.21125/edulearn.2016.2114

Vyakarnam, Shailendra, and Neal Hartman. (2011), "Unlocking the Enterpriser Inside." business enterprises 8, no. 15 36-40. doi:10.1142/9789812818768.

William W, Park. (2012), "Arbitration of International Business Disputes." International Commercial Arbitration 6, no. 9 36-40. doi:10.1093/law/9780199657131.001.0001.

Enterprise Portfolio

Names:

Institutional Affiliations:

Task 2

Part one

Business Ideas

Many for-profit business ideas can thrive in the Hertfordshire University whose target market has to be the students since they constitute the highest population in the location. Expansion of the Hertfordshire University commercial activities will also serve as a means to preventing the Hertfordshire University from becoming a marketplace and making the business official. Here are a few of the commercial activities that could be essential along with their proposed target market apart from the standard hiking in tuition fee that has been a major means of generating a surplus in UK universities (Adams, 2017). The first business idea is an electronics repair center where the school will have to hire expats in huge numbers because electronics need servicing and repair now and then, and the students possess an array of these. This venture has been successful at the University of Sheffield through the workshop (University of Sheffield, 2017).

Another viable idea could be a website put up to help students find rentals and new tutors to find apartments and pay for them in one spot to avoid the hassle associated with finding a new apartment. The venture should be close to what student Mundial does, but the target market should be expanded to immigrants looking for a place to live in the UK for more profits (Student Mundial, 2018). Yet another business idea would be to purchase and sale of used textbooks. This will require that students who no longer need old books sell them and the community members who require books but have inadequate funds obtain the books at a lower cost. Still, the Hertfordshire University can consider making contracts with computer producing companies such as Hewlett Packard to be purchasing personal computers in bulk and sending them to the Hertfordshire University students at a profit. The target market for this venture would be those joining the Hertfordshire University for the first time since they are the ones in dire need of personal computers for their studies

Alternatively, the Hertfordshire University should consider selling surplus objects than letting them stay unused. The target mart should be students as well as outsiders thus the selling should take place both in physical shops and online platforms to gather a big audience. Universities should consider growing their food in the unused lands and making profits which can also serve as a source of revenue for the Hertfordshire University. Finally, the Hertfordshire University should consider leasing and be renting its unused land to members of the community for farming. The target audience for this venture is members of the community wishing to engage in large-scale agriculture, and the results will be pure profit for the Hertfordshire University since no capital will be required.

Part 2

Evaluation of the business ideas

Electronics repair is a service provider business, and for a start, experts in electronics and appliance repair will be required. This business is viable because the Hertfordshire University hosts a significant number of students who in this case are the target market. This makes it possible to start a massive scale electronics and appliance repair center. This business will require a significant capital after which the money will be recovered and income will start streaming. How...