Analyse a current entrepreneur and his/her business venture Essay

Masayoshi Son
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Masayoshi Son
Introduction
Entrepreneurship is a challenging prospect particularly in situations when the environment is less conducive for the individual. Masayoshi Son is one apparent case scenario whose entrepreneurial journey can be a worthwhile case study. Masayoshi is a Japanese of Korean descent who studied computer software in the United States (U.S.). Later, he returned to Japan to begin his popular company, Softbank, which was primarily meant to distribute software solutions. The group has expanded immensely to the extent of creating Softbank Vision Fund that has already raised $100 billion to invest in artificial intelligence (AI) solutions in every industry. The companies and national wealth funds backing this fund means that the entrepreneur has gained tremendous confidence among investors. His ability to recognize business opportunities since his time at school could be the reason that justifies his proficient in this discipline. Masayoshi Son is a Japanese who has succeeded in the creation of businesses and offers the audience an opportunity to comprehend the attributes of such a character.
Background of the Entrepreneur
In the entrepreneurial circles, Japan ranks highly considering its people’s contribution to the country’s prosperity. The Asian country has produced some of the most proficient, but few have been immigrants. Masayoshi Son enters this circle as he is of Korean origin meaning that his presence here deserves much recognition taking into account challenges that immigrants face in succeeding in a foreign country (Awotoye and Singh 2018). According to Son, his colleagues in grade school degraded the fact that he was Korean and threw stones at him (Perlberg, 2013). He even had to take the name Yasumoto so that he could fit into their Japanese environment.
His mentor, Den Fujita, who was McDonald’s Japan founder, advised him to go schooling in the United States (U.S.). It is in the U.S. where he learned to speak fluent English and more importantly, pursued computer science. The case for change in scenery and more so, the ensuing cultural differences cannot be undermined. Culture is crucial in business because it impacts their values and behavior (Zhao, Li, and Rauch 2012). The same can be said of Masayoshi whose proficiency in English translated to respect from the Japanese community. Besides, it helped take his Pac-Man consoles business to another level as he imported them from Japan and brought them to Northern California where he leased them to local bars and restaurants. After he graduatedfrom Berkeley University, Masayoshi returned to Japan where he launched his most popular venture to date, Softbank.
Characteristics/Traits of the Entrepreneur
Individual’s characteristics differ significantly. In this regard, it appears as though certain traits define the entrepreneur. According to Coon and Mitterer (2012, p. 390), personality traits refer to the “stable qualities that a person shows in most situations.” The personality theorists attest to an entrepreneur’s inborn capabilities being fundamental to the success that their success (Simpeh 2011). Risk-taking is an overall theme among entrepreneurs. According to Knight (2012), risk and uncertainty are quite different in that the former is computable while the latter is uncontrollable. Risk-taking is one trait that is perceived as entrepreneurial behavior, which is linked to the entrepreneur’s intention. In this regard, it is very few people who would be bold enough and take a flight to a foreign country such as the U.S. and before hitting their prime teenage years.
Masayoshi was quite open-minded to study computer software as advised by his mentor. Being open-minded is central to exceptional decision making as it also reflects innovativenessand capability of receiving new information (Singh and Rahman 2013). Such individuals are capable of entering new markets and industries and becoming successful. In such circumstances, the person’s locus of control must be outstanding because they have to articulate the internal contributions and those that are external. The locus of control theory asserts that when the internal locus of control has much desire for entrepreneurship, chances are that the individual is bound to seek every other way possible to achieve the goal they possess (Salamzadeh, Farjadian, Amirabadi and Modarresi 2014). Eventually, it is an intricate balance between the two dynamics and having the knack to overcome external factors. This aspect coupled with Masayoshi’s need for achievement accounted for his success of Softbank despite losing approximately $78bilion worth of Softbank during the dotcom bubble (Perlbeg 2013). Karabulitut (2016, p. 14) refers to it as “the drive of a person to succeed.” In essence, this has propelled Masayoshi to his present-day success.
Process of Opportunity Recognition and Idea Development
The theory of entrepreneurship demands that entrepreneurs need to go beyond the mere foundation of a new venture to ensure that their processes are sources of value creation for individuals. In this regard, their intentions and aspirations should never be misguided (Mishra and Zachary 2015). This position justifies though partly, the reason most enterprises are adapting the social enterprise school of thought. In this case, they using “earned income strategies to pursue a double bottom line or a triple bottom line, either alone or as part of a mixed revenue stream” that encapsulates public sector subsidies and charitable contributions (Buala 2012, p. 84). However, before a business reaches the extent of amplifying their publicity, a startup has to guarantee pro...