Reflecting on self an an entrepreuner

Introduction The first half of this report is written about one of the famous German entrepreneurs Klaus KobJoll. It will include personal, societal and environmental antecedent that influenced KobJolls’ decisions during his life. In addition, his strengths and weaknesses will be determined and compared against my own ones. Second half of report will describe on what kind of venture I will do my Opportunity Analyses Report. It will include 5 key disciplines and 2 key personnel required to be source, as well as skills and competences needed for the start-up of the venture Background Information on Klaus KobJoll

Being born on 13 June 1948, Klaus KobJoll is now one of the most successful entrepreneurs in Europe (Schindlerhof n. d. ). His business portfolio ranges from restaurants to hotel business. His entrepreneurial career began when he was 22 by opening a “Creperie rennaise” restaurant in Erlangen in 1970. From then on, he established several more restaurants and hotels in Erlangen and Nuremberg. 1 1984, he opened the most successful venture in his career, the “Landhotel Schindlerhof”. Schindlerhof has become one of the best hotels in Europe and won several awards.

Klaus KobJoll himself sees business as something that is very personal and should be handled with care. He is the author of books, lectures, and articles on hotel management (CSA Celebrity Speakers n. d. ). In what ways Klaus KobJoll can be considered an entrepreneur? KobJoll is believed to be highly successful and rare entrepreneur. He deserved that status through his hard work and dedication to his ventures. The rigidly high standards that Klaus imposed on himself for running his business, earned him recognition and numerous accolades.

Moreover, his unique way of dealing with mployees, giving them as much empowerment as they need to learn being independent, made his company one of the Germanys most productive places. His desire to grow and make Schindlerhof a better place brought the expansion of an originally 19-room hotel into a nearly 100-room hotel with $7mln turnover in 2012 (Wildberg, R 2013). He is also a member of German Hotel and restaurant Association and became first full member of the Swiss Hotelier’s Association (CSA Celebrity Speakers n. d. ).

Personal Influences of Klaus KobJoll The establishment of entrepreneurship is highly influenced by individual’s personal raits and characteristics (Morrison, A, Rimmington, M ; Williams, C 1999). From that point of view, Timmons (cited in Morrison, A et al. 1999) suggests that leadership, along with commitment and determination are among desirable traits for an entrepreneur to possess. It can be seen that Klaus KobJoll is truly is an inspirational and motivational leader. He prompts his employees to be independent by empowering them to discover their individual talents.

Klaus KobJoll sees his hotel “as a school in which they grow’ (Wildberg, R 2013). In addition, being a leader Klaus KobJoll admits that every leader has a select group of qualities. He states that every man can be a manager, but not everyone can become a leader. He highlights several points such as self-confidence, need for achievement, and responsiveness to Those factors in turn correspond with entrepreneurial traits suggested by Schumpeter, McClelland, Baty and Chet et al. (cited in Morrison, A et al. 1999).