Marketing and Entrepreneurship Custom Essay

Burns (2011) distinguishes between owner-managers and entrepreneurs and discusses a variety of factors which

“influence the decisions on whether to start up a business and whether to grow it” (Burns 2011, pg 34). Within

what he describes as ‘situational factors’, Burns highlights the importance of events which act as ‘triggers’ for

entrepreneurial activity,

“Most people, at some time in their life, have an idea that could form the basis for establishing their own

business. But few people choose to do so. What is needed is a trigger to spur them into action, to turn these

ideas into reality. These triggers can take the form of ‘push’ or ‘pull’ factors. Push factors are those that

push you into self employment – unemployment or forced redundancy, disagreement with your boss, being a ‘misfit’

and not feeling comfortable in an organisation and for some reason, or simply having no alternative because, for

example, you have a physical disability or illness. These are very strong motivations for self-employment, but

not necessarily to grow your business. Pull factors – the need for independence, achievement and recognition,

personal development and wealth – are positive reasons for setting up a business. Sometimes the factors combine

and an entrepreneur emerges with a positive motivation, for example to make a success of an innovative idea,

having felt a ‘misfit’ in their old organisation.” (Burns 2011, pg 53)

Burns (2011) then discusses the ‘blocks’ that inhibit entrepreneurial action and concludes that,

“All too often these triggers are blocked by other factors – the need for regular income, a family to support, no

capital or a doubt about your own ability. These all boil down to two things – insufficient self-confidence and

an inability to cope with high risk and uncertainty. Without these key ingredients the business will not get past

the ideas stage.” (Burns 2011, pg 53)

Burns P (2011) Entrepreneurship & Small Business, Palgrave Macmillan

Assignment Task

Select an ‘entrepreneur’ and analyse their journey through the ‘entrepreneurial process’, from the initial idea

through to start-up & ‘growth’. Discuss, with examples, whether your analysis supports Burns assertions about

‘triggers’ and ‘blocks’. Critically evaluate whether these factors alone fully explain the reasons for your

entrepreneurs decision to start up, and the ‘growth’ of their business. Based on your response what do you

conclude about creating a successful new venture?

[You are reminded to make use of examples from your analysis and draw upon wider reading of the entrepreneurial

literature, in your response.]
NB: Additional guidance will be provided throughout the course of the module.

 

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