Final Reflection on Creating Partnerships with Entrepreneurship

Reflection
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Reflection
Entrepreneurship is an essential course that allows learners to advance their skills. It is the readiness to develop, organize, and run a business enterprise. It is done by taking control of any possible uncertainties that may hinder profit-making. Entrepreneurship is essential since it allows learners to start their businesses. It can also be defined as creating value for specific goods and enhancing change in a given sector. Entrepreneurship is a significant aspect that allows the learners to understand the critical elements necessary for scaling up the businesses from small to large areas. The paper probes my learning experience throughout the course.
One of the critical areas that I have learned is how to create a partnership in entrepreneurship. Entrepreneurship is based on a partnership that allows business partners to work together and ensure goals and objectives. A partnership is essential in the business process since it creates a better room for business partners to work together and achieve different goals and objectives. Additionally, it is also necessary to justify that the most significant element which determines the effectiveness of partnership is the ability of the partners to align the goals and objectives to a similar strategic direction. There are key aspects that I noted regarding an entrepreneurial partnership. I discovered that it promotes innovation and collaboration among the partners leading to higher growth and development. According to Frederick et al. (2018), a partnership is necessary for entrepreneurship since it makes decisions effective and reliable. It is necessary to identify specific elements for entrepreneurial partnership to work, including intellectual property, human, financial, and physical assets. The elements must be recognized to reduce any complexity in achieving entrepreneurship goals.
I also learned that business models play a significant role in making a business model work. I noted a need to focus on better ideologies that make the business models work. Some of the key elements which must be considered include customer segments, key partners, channels and critical resources, and value proposition (Malecki, 2018). It is essential to understand that the key elements that form a better framework in creating a business model must align with the revenue stream and the cost structure. It is also necessary to focus on better strategies that would make the model assist the learners in achieving better entrepreneurship goals. One of the significant drivers in achieving successful entrepreneurship growth is using better business models, which must be in line with the business goals and requirements. For instance, whenever one is advocating for long-term business achievement, all the activities must align with diverse business goals and constraints that may exist in goal achievement.
Based on the class activities, I also realized that there is a need to focus on necessary goals which transform different business frameworks to better business requirements. In other words, the business ideologies should not be skeptical but aligned to establishing the business. As a business entrepreneur, I realized that the best strategy is to focus on business quality and justification. The most critical value as an entrepreneur is to adjust to different technological requiremen...