As a part of academic curriculum for Business Operation Management set by Southern Institute of Technology I am submitting this paper on self evaluation of my understanding about Business Knowledge, Personal values, beliefs, attitudes and other relevant skills which are required or will be useful in setting up my own venture after successful completion of my course. I would like to evaluate my skills vis-à-vis the requirements and demands of the venture that I have planned i:e a service firm offering domestic services in Pune (City from Maharashtra state of INDIA); www.atyourservices.com. Structure of the study
As per the constraints regarding the word limit and provided evaluation parameters this paper is further divided into four sub parts whish are as described below: First part: This part gives brief introduction to the intended venture. Second part: This part will explain and evaluate the skills or characteristics covered in the provided self employment test (Appendix I) Third part: In this part I will discuss my ratings in the allied skills or characteristics Fourth part: I will put forward my findings in this part.
In this process of evaluation I would try to figure out the areas where I am lacking and in fourth and final part of this paper I will provide some suggestion for improvement in those areas. Image 1. Shows the exact structure of this paper:
About my Venture
This company is basically a bridge between a seller and the buyers. The main objective of this business model is to bring both of them as closer as possible. At your Service Pvt. Ltd. will serve the sellers as well buyers by acting as a connecting bridge between them. It will provide the sellers with large no of customers for their products & services and buyer with wider range of options. The business model is very simple, it will cover the range of basic services for working couples or other such people who finds it difficult to take time out from their busy schedules for the basic household jobs such as paying bills (electricity, telephone, mobile, insurance credit card etc), House keeping jobs, Taxi at door step, travels, tickets, flower & gift deliveries etc. Company will not only provide these services to customers but will also provide the facility of alerts for the allied payment’s due dates, plus reminders for friend’s birthdays, anniversaries etc
Self Employment Test
This employment test consists of set of questions framed in order to bring about the overall suitability of the participant to start his own venture. This test covers broadly the following dimensions of participant’s personality: 1)Extroversion
8)Purpose (clarity of mind about becoming Entrepreneur)
9)Emphasis (on self role in venture)
I will explain each of the above one by one and will throw some light on the connection of each of them with starting a new venture. Extroversion: Creativity, Innovative mindset etc were considered the main building blocks of entrepreneurship at early stages of its study but as the researchers went little more deep into it this extroversion appeared as equally important parameter. Everybody is a creative to certain extent but in order to make his/her creativity felt by outer worked one needs to extrovert to a certain extent however its not that only extrovert people can express them and their ideas but yes they definitely they do the same more frequently and somehow better than their counterparts. Approach: One’s approach plays a vital role in running any venture successfully and its observed that the chances of success for a particular venture increases exponentially if the approach of the key decision makers involved is in accordance with the project. Certain venture needs humanist approach whereas some demands highly rational approach. There are some which can be handled with a proper mix of both....