Table of Contents Background of the entrepreneur 2 Character of Steven L Reid 2 Recognition and Development of Ideas 6 Business acumen: 6 Understanding Customer Needs: 6 Societal Values: 7 Technical Depth: 7 Discuss the type of business developed and the competitive advantage(s) of the business compared to that in the market. 7 Recommendation 8 References: 9   The entrepreneur chosen is Steven L. Reid. He is an Australian born entrepreneur and the entrepreneurship he established is in Australia. In this analyzing report we will be analyzing the way which made him in becoming a successful entrepreneur. Background of the entrepreneur Steven L. Reid has a starting career of around 20years in the engineering firm situated in Atlanta. He served as an engineering manager and then as a chief operating manager. During his service tenure he felt that he was not in a position where he can take the strategic as well as significant decision for the company he is working. Therefore, he started following his own yearning of becoming an entrepreneur. The business he started is manufacturing the stacks, noise control systems, pollution control system and duct work. In his own company he was able to take decisions and make important strategies of his own. Steven L Reid founded his own company Industrial Environmental Systems in Queensland in the year 2001. Reid founded the company Industrial Environmental System in Queensland in 2002. He has been engineer by profession for around 30 years. He recognized for the inclination of entrepreneurship from an early age. Character of Steven L Reid 1. Passion and Motivation Passion can be the one word that describes entrepreneurship in the best and most effective manner possible. It allows us to try again and again for something without feeling bored. Keeps us at our toes until we finish what we started. Gives us the zeal to restore to improve, and all of it, it makes us do willingly, even enjoying it. It is passion at play (Duval-Couetil, Shartrand and Reed 2016). How passionate you are about your work will determine your strengths and weaknesses ad your viability in the organizational sector. Your passion to build to mentor to maintain and even pitching a prototype, it determines how your success graph will ride (Bellotti et al. 2014). 2. Taking risks: Diving into the unknown future if risk taking defines the ideal characteristics of a good entrepreneur, business world is full of ups and downs and a good entrepreneur should never be afraid of it (Eddleston et al. 2016). However it is not necessary that all risks are to be taken. The responsibility of a good entrepreneur s to differentiate between what risks are meant to be taken and what risks are to be avoided at all (García Peñalvo 2015). It has to be considered that risks are impulsive plunges however an entrepreneur should not lead his company to downfall with ill judgment and lack of foresight. 3. Confidence, Hard work & Dedication: Entrepreneurs are characterized for their extreme confidence and dedication. They believe in their vision and they follow their dreams unbridled by the risks it might pose (García Peñalvo 2015). A dedicated and hardworking entrepreneur that has confidence on his principles and vision can take the organization to the pinnacle of success. 4. Adaptability and flexibility: Passion and even a little bit of stubbornness sure ly go hand in hand in case of corporate world. However a business does not just because of a single entrepreneur, there are a lot of other stakeholders associated with a business operation (Finkelstein et al. 2014). The culmination of all of their hard work gives rise to success and prosperity in a organization. In an organization, the entrepreneur has to adapt to fit into every scenario, be flexible so that his or her interests can align with the best interests of all the stakeholders his or her organization is associated to (Finkelstein et al. 2014). This is what makes a entrepreneur a good leader and a good businessman. 5. Understanding product and its market: A good entrepreneur must know in detail about the products he is selling and how he is selling it (Finkelstein et al. 2014). It has to be considered that in the age of technology, marketing and presentation is everything and without proper knowledge about the market population the product is targeting the presentation of the product can never be complete. Therefore an entrepreneur has to know his product inside out and has to understand that target market in clarity as well (Mas-Verdú, Ribeiro-Soriano and Roig-Tierno 2015). 6. Money Management: Money makes a business flow smoothly, without fumbles and pitfalls. An entrepreneur must realize that in any business operation it is highly important for the profit to outweigh and expenditure. And for that reason an entrepreneur must handle the capital wisely employing a well thought-out money management plan (Finkelstein et al. 2014). A good entrepreneur does not just plan for the present, he plans for the future as well keeping cash flow in a secure and well managed condition. 7. Planning : Entrepreneurship builds a business from scratch with limited resources and a long-term commitment, planning as much as possible impulsively, at the beginning. However, in real world planning for everything with a solution ready for all possible risks may never let you take the very first step (Finkelstein et al. 2014). Entrepreneurs have to be a t the beck and call of their business needs under all circumstances, hence planning is inevitable but a good entrepreneur needs to be flexible and adaptive with his plans. 8. Networking: A business entrepreneur must know all the hefty names and figure in the corporate world. A business operates in the ambiance of good and fruitful networking. Without proper resourcing a business operation cannot succeed (Finkelstein et al. 2014). In a similar manner the business operation for a entrepreneur needs to include networking be it personal or impersonal taking the help of social and electronic media (Mas-Verdú, Ribeiro-Soriano and Roig-Tierno 2015). 9. Acceptance: Failure is an integral part of human, corporate world is not very different from it either. A business attempt depends on a myriad of factors and there are several situations that can go wrong in s business scenario (Elia, Secundo and Passiante 2017). A good entrepreneur will know the chance of a failure and will accept the risk of it. And will be mentally and resourcefully prepared to restore what the failure damages in the organization (Garud, Gehman and Giuliani 2015). 10. Self doubt: Questioning your own self always yields the best answers. A entrepreneur at times has to doubt himself as well (Elia, Secundo and Passiante 2017). Think about what is right and what is wrong, what actions are necessary and what actions are demanded by power and luxury, there is no better way to realize what is best for a business organization than a compassionate entrepreneur rather than a overconfident one (Elia, Secundo and Passiante 2017). Recognition and Development of Ideas Business acumen: Entrepreneurial engineers require capability to convey their new-product story in terms of business. They need the ability to negotiate management obstacles by collaborating effectively in a team. They need to successfully control projects and apply rules of commercialization (Singh, Singh and Singh 2014). Understanding Customer Needs: Entrepreneurs need to recognize any opportunities that can be solved technically. They have to construct effective communication in a customer-appropriate value and manner (Al-Harrasi, Al-Zadjali and Al-Salti 2014). They should apply critical and creative thinking methods in order to solve ambiguous problems. Societal Values: Entrepreneurial engineers need the vision to see the value of hard work that has the potential to affect the society, can preserve sense of freedom and liberty and is capable of maintaining a standard lifestyle which we usually take for granted (Duval-Couetil, Shartrand and Reed 2016). Technical Depth: Entrepreneurial engineers should not just be good going by the theory of engineering, however they should also practice engineering as an art. They need to work judiciously design products and tested for commercialization. They have to persist through any kind of failure to do what is needed not thinking of the repercussions (Zhang, Duysters and Cloodt 2014). Discuss the type of business developed and the competitive advantage(s) of the business compared to that in the market. Steven founded IES with the help of his brother, Chuck Reid, in the year of 2001. IES manufactures exhaust systems for power plants and industrial processes. IES has managed to developed an industry-wide reputation as the leading, full service steel stack designer and supplier. In the last years they have expanded their offerings to include consulting engineers as a stand-alone. IES utilizes Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD) for designing a variety of different products. The registered professional engineers of this company have an experience of over a hundred years of application and design with pollution control systems, ductwork, stacks, silencers, dampers, expansion joints and support systems. They have branches in Atlanta, Georgia, Charlotte, NC, and Opelika, AL. Recommendation Entrepreneurial engineering can be taken for a profession with great opportunities due to its broad macro-economic implications (Zhang, Duysters and Cloodt 2014). An entrepreneurial engineering culture will offer occupational security and improvement in the lifestyle of millions. This culture can be achieved through promoting this concept and enriching the educational domain with theories of engineering programs (Ellemers 2014). Various government and nongovernment organizations have started to emphasize on the need for entrepreneurial engineering in the coursework (Ellemers 2014). The categorization of entrepreneurial engineering has led to an effective structured approach for the career development of different domains of engineering. References: Al-Harrasi, A.S., Al-Zadjali, E.B. and Al-Salti, Z.S., 2014. Factors impacting entrepreneurial intention: A literature review. 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