Ghana Institute of Management and Public Administration (GIMPA)

GIMPA Business School (Greenhill College)

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STUDENT NAME: ACQUAYE RACHEAL AKUSHIKA

STUDENT ID NUMBER: 220025894
CAMPUS: ACCRA MAIN
PROGRAMME TIME: EVENING
STUDENT PROGRAMME OF SPECIALIZATION: GBSTH
STUDENT EMAIL ADDRESS: racheal.acquaye@st.gimpa.edu.gh
COURSE: PRACTITIONERS’ FORUM V [BUS331B]
TITLE OF COURSE ASSIGNMENT: “ENTREPRENEURSHIP: IDENTIFICATION AND
PROSPECTING.”
DATE OF SUBMISSION OF SOFT COPY OF ASSIGNMENT ONLINE: 12 TH
DECEMBER, 2021.
This year’s practitioner’s forum focused on entrepreneurship identification and its
prospecting. Four coherent lecture videos provided intellect and insight into various
dimensions of entrepreneurship; defining the concept of entrepreneurship, the types of
entrepreneurs and why poverty rate is still high in our part of the world, regardless of the
high rate of entrepreneurship. The second video focuses on how to think like an
entrepreneur. The third video looks at how to start up a business with an entrepreneurial
mindset whilst the last but not least video focuses on the available opportunities for
businesses in the country. The succeeding paragraph will provide case by case analysis of
these four dimensional areas mentioned.

First and foremost, I pretty much enjoyed the first lecture video on the start up culture
which focused on the definition of an entrepreneurship and also gave detailed insight into
the various forms of entrepreneurs. In terms of lessons learned, I learned that there are
distinct differences between an inventor, an owner-manager and also an entrepreneur. I
learned that one can only be classified as an entrepreneur provided he or she possesses
innovative skills and also is able to monetize his or her invention. This lecture video also
brought to my knowledge the fact that one should not tow the trajectory of
entrepreneurship with the paramount aim of making profit. By doing so, it becomes
extremely difficult to succeed as a business. Initially, I held the view that entrepreneurship
was all about profit making. Surprisingly, after listening to the lecture video, I have come to
realize that the true goal of any business is value creation and maximizing customer
satisfaction.

Furthermore, the second video focused on how to think like an entrepreneur. The gap in
my knowledge has been bridged with vital information pertinent to this lecture. I learnt that
it is key to alter my perspective before venturing into entrepreneurship. I have to be able to
scan my environment for problems littered around. This is because my ability to identify
these problems will eventually lead me to formulate solutions to these problems which will
in the long run become business ideas. Again, I need to be strategic in the arena of
entrepreneurship. It is prudent to create a social capital. With this currency, my ability to
scale up the business is given a huge boost due to the strategic persons who constitute this
social capital. Another crucial factor mentioned was the unrelenting desire to subject
oneself to learning. This is because the business landscape is always changing and as such, it
is prudent to always update oneself in this perpetually dynamic world of business.

To add to that, the third lecture on how to start a small business was one which
particularly piqued my interest. I learned that the underpinning ingredient for the success of
a business is the “why” of the business. Many business which tend to fail do not have a
clearly defined mission and vision as cleverly pointed out by Mrs. Judith. The “why”
becomes the driving factor which propels the business to greater heights. However, as an
aspiring entrepreneur, I was made aware of certain challenges that I am bound to face in
this field. In the event of downsizing, Mrs. Judith provided a careful approach to dealing
with such situations in order not to allow ones emotions interfere with his or her business.
Previously, I didn’t pay too much attention to the “why” of the business. All I cared about
was profit making once entered into the arena of entrepreneurship. However this lecture
has given me a paradigm shift.

More so, the last but not least video provided fantastic insight into opportunities
provided by governmental organizations such NEIP who provide funding for emerging
businesses with laudable business idea, provide tax waivers for new businesses owned by
18-35 year old business owners and also provide professional advise on how to scale up a
business to thrive in this contemporary. This lecture has erased my fears of engaging in
entrepreneurship in our part of the world.

To conclude, I would like to submit that I have been utterly refined after participating in
this semester’s forum. I can go into the business world more equipped with information on
how to thrive in the world of entrepreneurship.