Factors Of Success Essay

2753 words - 11 pages

Introduction and objectives

The overall objective of this individual assignment is targeted in two separate, yet strongly interrelated sections. Our first task is concerned with one inspiring entrepreneurial story and its reasons for success. Furthermore, other factors for success will be discussed, in the light of relevant literature. Additionally, I will identify the personal takeaways I can take from it. To support this, I also intend to explain the logic used to identify these takeaways. Other interesting details of this entrepreneurial story, but not relevant for the main critical analysis, will be placed in the appendix.
Following this, using two different personal entrepreneurial assessment tests, I will evaluate my own entrepreneurial profile. Finally, based on this evaluation and the lessons learnt from the previous task, I will reckon how my entrepreneurial capabilities could be enhanced.
Although I consider both tasks interesting and equally relevant, heavier weight will be placed in the first one, as directed by the lecturer. Additionally, I expect to undertake these tasks in an inviting but organised manner, aiming to engage any reader, while reflecting about myself.
Also worth mentioning, the emphasis in this individual assignment is not only in showing a fair understanding of the theory, but in developing practical skills associated with an entrepreneurial mindset.

First Task: Cordys, One inspiring entrepreneurial story

Jan Baan's successful and continuous entrepreneurial story will be discussed in this section. Jan Baan is a fascinating personality and a multi-billionaire. He sold his Enterprise Resource Planning (ERP) software at its height to become one, not without some heated controversy about his management and finances (Baker, Spiro and Hamm 2000). Despite this catastrophic right-on-time exit from his first venture, Jan Baan did not stop there. Would a real entrepreneur have stopped? Jan Baan did not. Baan invested a significant amount of resources to start a new company called Cordys (Abrahams 2004). In this section Jan Baan's Cordys entrepreneurial story will be analysed. More details regarding Cordys itself are placed in the appendix.
According to Tim Weber from the BBC cloud computing might be the hottest thing in corporate computing at the moment (Weber 2011). Already in 2009 The Financial Times reported that Jan Baan was back in business with Cordys, focused on the area of cloud computing (The Financial Times Limited 2009). This clearly shows how despite financial success, Jan Baan decided not to hold himself back from the entrepreneurial world.
Why have I found this particular entrepreneurial story inspiring? First, because it involves the desperate need for innovation. Second, because it evolves around an industry I like and I understand. And last but not least, because there are some simple lessons to be learnt from it.

Critical evaluation of the reasons for success
In this section, after...

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