Ent4020: Differing Perspective of Entrepreneurship

Assignment 1

Survey a location of your choice for what you may classify as entrepreneurial ventures. Identify one or two entrepreneurs to gauge their understanding/meaning of entrepreneurship and what entrepreneurial characteristics they manifest.  

Introduction

Many people consider themselves entrepreneurs, and each individual has a differing perspective of entrepreneurship. This paper seeks to investigate what two local entrepreneurs define entrepreneurship as and what characteristics make them view themselves as such.

Location of choice- Migaa Development, Kiambu County, Kenya.

I have selected this location as it is offering a variety of opportunities for entrepreneurial activity. Having visited the site, it is as yet in the developing stages and will require a year or two at least to be completed. However, I saw the entrepreneurial potential as there are a variety of outlets for entrepreneurial activity within varied industries. This development is 774 acres on the outskirts of Nairobi which intends to accommodate housing, resorts, a sports complex, golf club, hospital and shopping center amongst other services. This kind of development provides entrepreneurs with a chance to serve a variety of consumers. Whilst the venture itself might not be particularly innovative, there are the risks commonly involved in a new project to deal with. Furthermore, it is a novel idea in Kenya. There are only two other similar ventures (Garden and Tatu City) but Migaa is unique as it is the largest, golf estate in Kenya according to Nganga (2015). This makes the project a new venture as there are no other entrepreneurs who have developed a housing development so large based on its proximity to a golf-course. Furthermore the combined concepts of sustainability and luxury are a novel idea, tapping into a niche market.

In regards to Ubora hospital, it is innovative to specialize in cardiol-metabolic issues as the change in lifestyles has increased the occurrence of heart conditions in Kenya.

Entrepreneur- Dr. Charles K.

This individual is partly responsible for the hospital within the development project. The hospital in question will serve patients with cardiovascular issues within the area and all over the city with satellite medical practices in other areas. Dr. Charles stated that he considered the venture to be feasible as the income bracket of Kiambu residents, especially those within the development, would be able to sustain the upstart.

This entrepreneur is characterized by having a large social network which enabled him to be approached by the developers in order to undertake this venture alongside them. Furthermore, the wealth of experience within the industry and a well-built client base means that there will be consumers, so to speak, of his offering.

Economic and social changes have influences Dr. Charles to pursue this venture as there is a high level of disposable income and therefore, people are willing to pay a premium for specialized, top-of-the-line healthcare. As previously mentioned, the societal changes in lifestyles has affected the health of Kenyans and there is a clear need for specialized care as seen in the rising incidences of individuals with cardiac issues. s