Entrepreneurship Small Business and Public Policy

Question: Discuss about the Entrepreneurship Small Business and Public Policy. Answer: Introduction: There are some traits in the marketers that drive the success of business and make them success entrepreneurs. Common traits are to enjoy every decision and to plan everything by managing money wisely so that all the planned targets can be accomplished in limited resources (Bennett 2014). Moreover, Sadgrove (2016) portrays that taking initiatives for making the customers happy and offer them attractive discounts also helps an organization to drive their attraction. Some of the entrepreneurs also thinks that starting a business from scratch is beneficial as they start something that they love and can also increase the potential income and by obtaining a wide variety of business skills Twitchell (2015). On the other hand, some people often hesitates to start their own business as they feel that lack of experience and low business capital along with the excessive debt financing and poor management of the business procedures may result in great loss Sadler-Smith (2016). But successful en trepreneurs always have the enthusiasm to motivate themselves and other to follow their dream and let the world know that their dreams can also make a difference in the market. Schaper et al. (2014) depict that the factors that they usually highlight are improving the leadership skills and competencies to select effective business partners and suppliers that help a person to start a business. Additionally, if positive people are always closer, they can also get great ideas and it helps them to find a healthy work-life balance. One such Australian business will be discussed in this business report is Berri Australian Grown, which was started as a family business and is successful in recent times. A small interview is conducted from Tim Berri, the owner of the company regarding his journey for attaining business success. I think that focusing on just a couple of clients at a time rather than targeting the most clients and making most money once at a time drives the success of a business. I like to innovate new products from new ingredients rather than resenting same old product in a new package to the customers. Conventionally, we made only orange juices but now to attract more customers and to analyse their other demands; we have taken initiatives of making fresh juices from Mango, pear, strawberry and fusion of these fruit juices. I believe that people having the same mindset like you have can be easily found in the communication between them strong. I always emphasize on the strong communication and utilize social network like Facebook, YouTube and Twitter so that they can share their viewpoints regarding the products. In this way, I can get aware of their shared communal beliefs, requirements and ideas for the future improvements of the company. There is a direct relationship between the employee engagement and a companys success. In this case, I want to say that if an individual desires to get success in business, he/she must consider the employee as an important asset for the business. I also think that without employees, providing good customer service is difficult and it is also very important them to motivate regularly either by offering them financial rewards or nonfinancial benefits. I have not faced huge failures, but I admit that initially, I have been an autocratic leader in old days and due to which some of my employees left the job. So, I failed as an effective leader in the starting days. It is the time when I realized that my employees are not hay and I decided to adopt a friendly attitude towards by working personnel. I have never faced the same problem after that. However, I have realized that lack of planning, poor product differentiation, ignoring customer needs and premature scaling are some of the adverse factors that ensure a business failure and proper steps have to take by the marketers to avoid these circumstances. Well, this is an important thing that everybody should know and in my words, in the former case, a person is working for someone else and in latter case, the person is the owner. Moreover, employees are not responsible for the overall business activity while, entrepreneurs shape their ideas of activities with full responsibility. Being an entrepreneur, I see the long term effect of my work patiently; on the other hand, I believe that employee only sees the immediate effect of their work. Reference List Bennett, R.J., 2014. Entrepreneurship, small business and public policy: Evolution and revolution. Routledge. Berri Australian Grown., 2017.Berri Australian Grown - Partnering With Local Growers. [online] Available at: https://www.berriaustraliangrown.com.au/ [Accessed 12 Apr. 2017]. Sadgrove, K., 2016.The complete guide to business risk management. Routledge. Sadler-Smith, E., 2016. The role of intuition in entrepreneurship and business venturing decisions.European Journal of Work and Organizational Psychology,25(2), pp.212-225. Schaper, M.T., Volery, T., Weber, P.C. and Gibson, B., 2014. Entrepreneurship and small business. Twitchell, M., 2015. Why We Keep Doing Business with Doing-Business Jurisdiction. InUniversity of Chicago Legal Forum(Vol. 2001, No. 1, p. 7).