Establishing Business to Make the World a Better Place to Live - Assignment Example

Introduction The modern world is riddled with lack of enough job opportunities for the skilled individuals churned out by institutions at the end of each financial year. It is becoming increasingly necessary for prospective graduates to develop alternatives for gainful income other than employment thus the need for entrepreneurship and innovation amongst these professionals. These two strategies can play a significant role in an individual’s personal and career journeys by enabling them to maximize their learnt and acquired potential. Entrepreneurship, per se, streamlines a career to taking advantage of opportunities as they present themselves with little consideration for those resources which are already under control. Innovation on the other hand seeks to create opportunities where they may be considered as not present. My goal as an individual with respect to the above aspects is to establish my own business after completion of my health science course at this institution. I intend to take certificate courses to sharpen my knowledge and skills which I believe will be key in enabling me accomplish whatever tasks I will have to perform in order to satisfy the needs of my clients. I currently have no financial resources to enable me start my business venture which is why I may have to settle into employment for a year or so after graduation. This will enable me to earn and save some funds to establish my business on. Vision and Opportunity There exists a lot of information in the world on various fields of knowledge particularly in the field of science, propagated by various scholars since before the modern era. However, there is always an unmet need for adequate scientific knowledge as this is a fast evolving field. It is the desire to meet this constant need that drives my interest in research and which propels my intent to establish a firm that deals solely in scientific research. Because of the constant evolution of diseases and the organisms that cause or otherwise facilitate their spread, this creates me with a lucrative business which I intend to explore within a few years of my attaining my qualifications as a certified health scientist. My purpose is to establish an enterprise that constantly seeks to meet the gaps in available knowledge through constant and intensive research of emerging scientific issues in the entire world. My long-term vision is an efficient response if not prevention of scientific disasters affecting to the health of humanity such as new infections and diseases. My key mission in establishing this business is to make the world a better place to live in through information and thereby avoiding a significant avoidance of problems resulting from mass ignorance. My choice of a purpose, vision and mission are driven by three key questions. These are; is there a significant need to be met? What role can I play in making the world a better place? Would my input meet the need? My passion is driven by a deep love for humanity and an intense desire to alleviate the suffering that a majority of people suffer from diseases and infections. These are problems which I believe can be mitigated if only the world had access to adequate and relevant information. My goal aligns to a myriad of market opportunities in light of the major epidemics that the world has suffered in the recent past. These include but are not limited to diseases such as Ebola, Swine Flu, Yellow Fever and even malaria which continues to kill large numbers of people particularly in the third world countries. Marketing and Implementation Strategy I intend to implement my idea by first filing a disclosure. This I will do through this institution which will allow me to get license to commercialize my business idea. I will then draft a grant for a small enterprise innovation. This is intended to acquire funds for the initial procedures and seek collaboration from my colleagues. I also intend to actively pursue my business venture and will therefore need personal funding which I plan to earn and save. I will also seek additional funding from financial institutions, family and friends. I also hope to garner the financial support of venture capitalists and investors who may be interested in my scientific exploit. My marketing strategy will be majorly focused on communicating to potential investors and clients the values behind my business which are not only profits but largely disease prevention and control. This will form the basis of my advertisements because my plan is to make people buy my vision and not just the services I offer them. This will give me an edge over other UAE students who probably have similar skills and knowledge as I do. I will set myself apart because I will put more emphasis on earning the loyalty of my people and not just their purchase. Risks and Mitigation The major milestones in my plan are the need I seek to meet. My plan is not merely about providing a service or product but is directed towards a specific need which I have determined. Through my own experiences as a student seeking knowledge through research I have established the existence of the need which I want to try and satisfy through my business plan. I believe I will be able to determine my achievement of these milestones if my research projects lead to notable progress or advancements in the field of science. According to me success is the attainment of or progress towards goals one has set for oneself and this is how I will approach my business projects. My decision to enter into entrepreneurship is not only motivated by financial gain. It is as a result of an intrinsic desire to make the world a better place by finding ways to reduce some of the ills suffered by it. True gain is shaped by adherence to values such as equity and equality, integrity, humility and care of both animal’s and humans’ welfare which I intend to incorporate into my business. Finally, if I could assemble three individuals to mentor and advise me as I venture into my business idea, I would choose the late Nelson Mandela of South Africa, DR. Ben Curson and my mother. I admire the late Nelson Mandela for his impact on the history of his people and the choices he made that he is still remembered for today. I am convinced his advice would come in handy for all the difficult decisions I am bound to be faced by in my venture. I would also love to be mentored by DR. Ben Curson because of his significant contributions to the field of medicine. My mother’s would be helpful all the way because I consider her to be very wise and knowledgeable. References Foller, A. (2002) Leadership management needs in evolving biotech companies. Nat.Biotechnol. Bioentrepreneur Supplement (20), BE64–BE66 Carter, N.M., Gartner, W.B. & Reynolds, P.D. (1996) Exploring start-up event sequences. Journal of Business Venturing (11), 151–166. Read More