What is your vision, your values and your mission? Assignement solved completely Fundamentals of innovation entrepreneurship

What is your vision, your values and your mission? Assignement solved completely   Fundamentals of innovation entrepreneurship

Fundamentals

of Innovation & Entrepreneurship

GET 2 SCORE (FIRST ROUND)

OVERALL GET 2
SCORE (FIRST
ROUND)

63%

FIRST ROUND SCORES

ACHIEVE

50%

AUTONOMY

58%

CREATIVE

58%

RISK TAKING

50%

CONTROL

90%

DO YOU FEEL THIS WAS AN ACCURATE REPRESENTATION OF YOUR ENTERPRISING TENDENCIES, PLEASE

EXPLAIN

WHY?

Section 1

What are your goals (career and/or educational) after you leave your university?

My Primary goal is to secure a place in the industry or academia wherein I get to analyze & solve complex

electrical engineering problems and make meaningful contributions to the field.

Secondly, I want to constantly keep myself updated with the latest trends & technologies related to

electrical engineering.

What is your vision, your values and your mission?

Vision: To come up with solutions / innovations that are sustainable and can solve complex problems that

have compounded our society.

Mission: To become a top technician in my field and motivate others to join the field and contribute to

the society.

Course of Action

Based on my career goals, vision & mission I have formulated a brief course of action:

Learn: Get into the industry or academia in order to understand the discipline better. The industry way is

preferred as I will get to know the practical applicability of the concepts that I’ve studied during my

engineering. This will also help me identify gaps in the learning.

Identify: After gaining enough work experience, I would like to spend time on analyzing the existing

problems pertaining to electrical engineering that can be solved for the benefit of the society.

Apply: Come up with my own venture or collaborate with experts in the field to analyze and solve such

problems

Values: Some of the values that I cherish the most are as follows:

1. Honesty: Honesty with my field (e.g. not to plagiarize any work) & Honesty with people (e.g. not

deceive anyone for personal gains)

2. Learn from everyone: Treat every human being that comes to my life as my mentor/teacher and

learn something from him.

3. Bias for action: Be very prompt while taking important decisions and try not to afraid if any

uncertain situation comes up.

List the 3 questions that guide your choices

The 3 important questions that matter to me the most are:

1. Does the work I do align with my interests?

Learn Identify Apply

2. Am I really solving a problem or just wasting my time?
3. How do I want people to perceive me?

Section 2: Marketing and Implementation Strategy

Create your market positioning statement (about YOURSELF). This may be directed at a hypothetical

employer, industry, organization, or the world at large.

“Innovation, perseverance & hard work are the three pillars around which I operate. A passionate learner

and a curious soul, looking for opportunities to make an impact in the field of electrical engineering, such

that the impact is profitable & sustainable in the long run”

What compelling value will you offer to your employers and society?

I can offer value in terms of the following aspects:

Research mindset: A research mindset allows me deep dive into any problem. I like solving problems f

or

which a solution is not readily available.

Simplistic Solutions: After solving a problem I always ask myself; can this be anymore simpler? This

attitude will allow me to come up with less complex and cost-effective solutions.

Long lasting solutions: I like to imagine possible scenarios where a solution can fail and then plan

accordingly. This attitude can make the solutions I develop long lasting.

Sustainability: I always try to offer sustainable solutions i.e. solutions that strike the balance between

economy, ecology & society.

How will you differentiate from other UAE students? How about from the broader population?

As compared to the students in UAE, I have a more hands-on

experience

in projects related to electrical

engineering through various pilot projects I had undertaken since my school days. This practical knowhow

of things is very rare in students I’ve encountered. On top of that I am also very good with the theoretical

aspects of the subject.

While comparing with the broader global population would be unfair here since I haven’t had many

interactions with such a population. But based on the few interactions I’ve had I can say that I have more

holistic approach of looking at things rather just the bookish knowledge.

Positioning statement

“Inspired by the ways of Nikola Tesla, I strongly believe that having a problem-solving attitude plays a

pivotal role in the life of an engineer. All that acquired bookish knowledge without any application is an

effort in vain. An iconoclast in my approach, I like to challenge existing solutions and propose changes that

make them more effective & profitable”

Differentiation

Already discussed in the previous section.

Positioning Map

As discussed in the plan of action earlier, during the initial part of my career i.e. just after graduating

from my university I would be willing to gain enough work experience in the electrical engineering

domain. Later, I would like to start my own venture. Based on this goal I have placed myself in two

quadrants of the framework below:

Entrepreneurial Aspirations

Low Enterprising High Enterprising

Job Aspirations

After graduating

out from my

university

After gaining

sufficient work

experience

Step 3

What are the key milestones and checkpoints in your plan?

My career goals are already discussed in the earlier section. Below are the major milestones to be reached

while achieving those goals:

Milestone 1: Getting a job in an organization where I get to learn & innovate.

Milestone 2: Quitting the organization after identifying the problem my venture would address.

Milestone 3: Establishing my own venture.

Milestone 4: Breaking even in my venture.

How will you measure/determine if you have successfully attained these milestones? How do you

define success?

My success will depend upon the extent to which the milestones will be achieved. The KPI’s (Key

Performance Indicators) for each Milestone are as follows:

Milestone 2: No. projects I’ve worked on; No. of new technologies learnt

Milestone 3: External Investments (excluding my stake) in my venture

Milestone 4: Breakeven time

There is no KPI for Milestone 1 as it does not matter which organization I get in, as long I get to learn.

What external factors might affect (positively or negatively) your attaining success?

Factors that can affect my success:

Economic factors: The job market when I pass out from my university plays an important role for achieving

my 1st milestone. In the 3rd milestone if due to poor economy the investors might not be willing to invest

in my venture. In the 4th milestone the breakeven time of the venture may be affected if there is fall in

economic activity. On the other hand, a burgeoning economy can also help in early achievement of these

milestones.

Personal factors: These might be unforeseen circumstances like illness, loss of loved one, etc. which might

affect the realization of the milestones.

Management process for developing a strategy

Core competencies:

Listed below are some of my core competencies:

I. Technical skills

a. Microprocessor interfacing

b. Coding in C++, Java & Python

c. Mechatronics & Robotics

d. Signal Processing

e. Instrumentation

II. Non – Technical skills

a. Problem solving mindset

b. Research orientation

Industrial context:

Below are some plots shedding light on the electrical engineering job market:

44.67

19.21

13.01
10.88 9.88

2.35

Architectural,
Engineering, and
Related

Services

Electric Power
Generation,

Transmission and
Distribution

Navigational,
Measuring,

Electromedical,
and Control
Instruments

Manufacturing

Aerospac

e

Product and Parts

Manufacturing

Scientific
Research and
Development

Services

Others

P
e

r
c

e
n

ta
g

e

Electronic/Electrical Job Distribution

Nearly, 45% of Electrical/Electrical

engineering jobs are in this industry

4.64

3.62
3.18 3.18

2.77

Electric Power
Generation,
Transmission and
Distribution

Electrical Equipment
Manufacturing

Navigational,
Measuring,

Electromedical, and
Control Instruments

Manufacturing

Communications
Equipment

Manufacturing

Architectural,
Engineering, and
Related Services

P
e
r
c
e
n
ta
g
e

Proportion of employees as Electrical/Electronic engineers

Nearly, 5% of employees in this industry are

Electronic/Electrical

engineers

Strategic options based on my strengths & weaknesses:

As stated earlier my strengths lie in my problem-solving capability. So, based on the statistics presented

earlier and my strengths. I’ve prioritized the following fields to pursue my job after engineering:

1. Scientific Research and Development Services – Aligns with my strengths

2. Electric Power Generation, Transmission and Distribution – Perfectly aligns with my technical

strengths

and has a high availability of jobs

3. Architectural, Engineering, and Related Services – Somewhat aligns with my technical strengths

and has a high availability of jobs

Due to my weaknesses in certain technical concepts I am not considering jobs in those fields.

Opportunity & Threats:

The industries identified in previously provide a range of opportunities:

1. A good exposure to the electrical engineering domain

2. High monetary returns (in terms of payroll)

3. High availability of jobs

4. Aligns with my future goals

As such I’ve not identified any threats related to these domains.

Key factors for success:

Some key factors for success will be:

1. My performance in various projects which I undertake in these industries

1,30,960

1,21,410

1,17,280
1,15,910 1,15,210

Oil and Gas Extraction Support Activities for
Mining

Software Publishers Aerospace Product
and Parts

Manufacturing

Scientific Research
and Development

Services

In
U

S
D

o
ll

a
r

s
(

$
)

Top 5 Paying Industries

Highest Paying industry for electrical

engineers

2. Retaining the curiosity for the field over the years

3. Funding I receive for my venture

My Failure experience and learnings

During my childhood days I had taken part in marathon. Though I was not a fit guy I still participated in

the marathon since some of my friends challenged me to beat them in that marathon. After the marathon

I found that I had a ligament tear in my leg. The doctor said that since I was not a regular runner my leg

was not able to take the strain of the marathon. I was not able to walk properly for 3 months. I also didn’t

beat my friends who had challenged me.

This incident thought that I should not venture into something I am not good at. In future I should be very

careful into which filed I venture. I should do a through research on the field I am trying to enter cause if

I don’t succeed the vaguely taken decision will end up hurting me.

Step 3: Entrepreneurial Ethics

How do you plan to practice ethical principles in your daily actions?

Some of the ethical principles I would implement in my daily action are:

Integrity: By being honest to the people with whom I interact daily, like my family & friends. Never to
spread rumors about anyone.

Equality: Treat an engineer the same way I treat a plumber. Equal respect should be given to both.

If you could assemble any 3 people to advise and mentor you, who would they be?

The 3 dignitaries which I would assemble are:

Nikola Tesla: His discovery of the concept of rotating magnetic field revolutionized the field of

engineering. He would be of great assistance to me on the technical side of things.

Warren Buffet: An investor par excellence. He would be of great help to me in assessing the profitability

and sustainability of my venture.

Jack Ma: The founder of Alibaba. His expertise in building a venture from the scratch would be great

assistance to me.

Summarize your project in 6 words

Humanitarian, sustainable, formidable, ambitious, insightful & penetrating

The following survey must be completed at the END of the program

GET 2 SCORE (SECOND ROUND)

OVERALL GET 2
SCORE (Second
Round)

83%

SECOND ROUND SCORES

ACHIEVE

AUTONOMY

CREATIVE

RISK TAKING

CONTROL

92%

83% 83% 75% 83%

DO YOU FEEL THIS WAS AN ACCURATE REPRESENTATION OF YOUR ENTERPRISING TENDENCIES, PLEASE
EXPLAIN WHY?

____________________________________

_________________________________________________

Please specify what you have enjoyed the most about this course?

_____________________________________________________________________________________

_____________________________________________________________________________________
_____________________________________________________________________________________
________________________

_____________________________________________________________

Any suggestions?

_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________

1

Fundamentals of Innovation & Entrepreneurship

GET 2 SCORE (FIRST ROUND)

OVERALL GET 2 SCORE
(FIRST ROUND)

63%

FIRST ROUND SCORES
ACHIEVE

50%

AUTONOMY

58%
CREATIVE

58%
RISK TAKING

50%
CONTROL

90%

DO YOU FEEL THIS WAS AN ACCURATE REPRESENTATION OF YOUR ENTERPRISING TENDENCIES, PLEASE EXPLAIN

WHY?

2

Section 1

■ What are your goals (career and/or educational) after you leave your university?

I am willing to pursue higher education in the field of electrical/ electronics engineering. This is

important for me, as it will allow me to know some more advanced concepts in the field of technology.

Another goal is to obtain a position in industry and keep on learning about the new technology and

problems recently faced by the industries globally. Hence, I can keep on getting updated with the latest

trends and technologies.

■ What is your vision, your values and your mission?

– Vision: To contribute towards the world of better technologies and create better solutions

to the problems currently arising in the world.

– Mission: To become a powerful and successful leader and to get recognized in the

respective industry.

– Course of action:

– Values:

3

■ List the 3 questions that guide your choices.
– I am following my passion?
– Am I really tending towards anything or wasting my time?
– Can I be remembered for a very long time, even when I do not exist anymore and how?

Section 2: Marketing and Implementation Strategy

■ Create your market positioning statement (about YOURSELF). This may be directed at a

hypothetical employer, industry, organization, or the world at large.

Simple but useful inventions and innovations can help me help me to gain recognition internationally.

Additionally, my extremely good knowledge of Mathematics and Physics can help to create new

techniques or models.

■ What compelling value will you offer to your employers and society?

Dedicated, reliable solutions, quick decision maker, problem solving abilities, consistently thinking

over a particular problem, simplistic approaches, sharing problems with others, team work, leadership,

working as if the task is our ambitious outcome.

■ How will you differentiate from other UAE students? How about from the broader population?

Getting differentiated intranationally or internationally is not much different, if one knows one’s

passion and can act in long term consistently.

Additionally, I can comfortably communicate with different backgrounds and cultures and convince

them to help work on the same path, I am working, so as to create a very good team and dream the

same stuffs for better performances with minimal competitions internally.

■ Positioning statement

4

“If your actions inspire others to dream more, learn more, do more and become more; you’re a leader.”

■ Differentiation

Most of the stuffs are already discussed in the previous sections. Additionally, I am action oriented,

making sure that all important decisions are implemented, as I would be able to make decisions, that

are in the best interest of the respective organization.

■ Positioning Map

5

Section 3

■ What are the key milestones and checkpoints in your plan?

— Plan: Creating a venture and finding innovations for the latest technological issues.

— Milestones:

i. Overcoming my weak points and controlling the threats and risks.

ii. Searching jobs that match my skills and knowledge.

iii. Research about the latest market demands, in the field of Electrical/ Electronic technology.

iv. Trying to find solutions for the latest problems faced by industries.

v. Creating my own venture of all of my gained knowledge after some time.

vi. Improving my skills and my venture.

■ How will you measure/ determine, whether you have successfully attained these milestones?

How do you define success?

Here are a few things, that can help me to measure my success:

— ‘Success’ can be defined as the accomplishment of an aim or a project.

— Whether I am now able to set deadlines and accomplish the goals in the time.

— Whether I am actually using the knowledge, that I had learnt from my mistakes in the past.

— Counting the number of failures and the number of new technologies learnt.

— Compare my past to look for the amount of progress done over time.

— The number of client base created and value of my venture achieved.

■ What external factors might affect (positively or negatively) your attaining success?

Negative factors:

i. Low market demand in electrical/ electronic field in future.

ii. Inability to attract new clients or investors.

iii. Personal reasons such as long term bad health or the loss of the loved ones etc.

iv. Ups and downs in the market are quite usual. However, poor economy of the corresponding market

or the nation, can severely affect

negatively.

v. Similar to what Tech giant Amazon had faced initially, the breakeven to begin profits, maybe longer

than the estimated one, that may cause loss of trust from the investors.

vi. Becoming an entrepreneur by taking risk to start my own venture and leaving the job.

Positive factors:

i. The job market conditions, when I pass out from my University can also affect it positively or

negatively.

6

ii. High demand of the world towards the technological advancements can turn out to be a very good

cause.

iii. Breakeven in the estimated or lower time.

iv. My learning in the same directions, as the direction in which the market is heading towards.

■ Management process for developing a strategy (to modify to apply to yourself and your

future)

1. Core competencies:

Technical skills Non- technical skills

Computer programming Good team workmanship

AutoCad for architectures and mechanical

implementations

Leadership

Knowledge of computer and mobile hardware Communication skills

Microcontroller interface. Taking initiatives

Analytical skills.

2. Industry and Context:

– Demand for Electrical/ Electronic engineers is mostly in the field of Power systems and instruments.

– Despite this fact, there are additional demands for the same, in other fields as well, such as

mechanical, computers etc.

– Digging into the further details, it is observed that oil and gas are standing among the best choices

for one to grow, with highest job diversity and employment

opportunities.

– The consistent demand for smartphones and laptops also need tremendous amount of electrical

engineers.

3. Strengths and Weaknesses:

Strengths Weaknesses

Keen to obtain technical knowledge Not having deep knowledge other fields like

mechanics

Research oriented Low knowledge of macro economics

Communication skills. Areas where opportunities are not to be

sought.

7

4. Opportunities and Threats:

— SWOT analysis is important for one to identify all the positive factors (strengths and opportunities)

and all the negative factors) weaknesses and threats.

Opportunities Threats

While pursuing higher studies, one can try to

take advanced courses to learn about

technology management and to get some tips

to be an entrepreneur. This can act as a very

good opportunity to start as a knowledgeable

person.

However, market competitions and

declining demands may be severe threats,

that generally one faces at some point of time.

Alignment with future goals and good

exposure to my field can be the very good

opportunities.

Overcoming these problems, depends solely

on the precise scenario and hence can’t be

mentioned here in advance.

5. Key factors for success:

— Number of investors attracted.

— Relevance of the field/ knowledge I am working towards, from the perspective of the technology.

— Customer satisfaction and client base.

— Appropriate formulation of strategic options.

6. Strategic options based on strengths:

— My passion towards Science and Mathematics can make me understand the limitations and

capabilities of technology. This can help me to stay aware of frauds in the field.

— Activity towards electric power generations and electronics advancements are my strategic options

as strengths.

— Becoming an entrepreneur by taking risk, to start my own business.

■ Share one failure experience from your past.

When I had just entered in 12th standard, suddenly I had decided to prepare for IITs. This Was due to

recommendation from several people, as I proved to be very good at Science and Mathematics at 11th

class. But, this sudden decision to prepare for IITs, made my conditions worse. Focusing on 12th state

board syllabus and IIT syllabus all of a sudden out of nowhere simultaneously, ultimately became a

nightmare. Both of my 12th and IIT results got worsen. Couldn’t get any IIT. I was confident of getting

a very good state board college previously, as I was passionate about Science and Mathematics and

8

extremely good at those. But, the desire for preparing a completely different/ advanced syllabus of IIT,

made me stand nowhere.

■ Tell me what you have learned from it.

After that failure, I decided not try to do multiple new stuffs at the same time. It is always better to have

either one of the following two choices:

Try to master one thing at a time and when it is done, one can aim for another thing. Do it passionately,

without losing focus.

or

Start for multiple things since the very first day of beginning itself, so that ultimately, they won’t feel

like a burden in future.

While both of these approaches are very good choices, I now mostly prefer the former one.

■ How will it help you in the future?

If I am trying to do master in an electronics field, it is better that I would not try in the field of sports,

archaeology etc. in the first hand. Similarly, if I have learnt something from my education and work

experience, then it will be better that I would try to create my own venture in the same field only, to be

precise. Once I am satisfied with my results, maybe new goals and fields can be given hands over, but

till then I will work for the former goal only.

9

Section 4: Entrepreneurial Ethics

■ How do you plan to practice ethical principles in your daily actions?
— Respect to others with equality,
— Honesty,
— Loyalty towards my work and my employer,
— Courtesy towards my clients and
— Giving helping hands.

■ If you could assemble any 3 people to advise and mentor you, who would they be?
— James Isaac Newton: ‘How was he able to create solutions to the problems, the world was

already aware of, but could never change their perspectives’, this is something I could learn from
him.

— Avul Pakir Jainul Abdeen Abdul Kalam: His ability to take risks at life and still be able to
withstand the nation’s problems with a great smile on his face and do’s and don’ts to achieve
dreams could be learnt.

— Nelson Mandela: How despite having struggles, he was able to get achievements and influence
others with a great leadership.

■ Summarize your project in 6 words (e.g., humanist, engineer, global citizen, caring teacher”).
— Ambitious,

— Formidable,

— Ethical,

— Innovative,

— Aspiring,

— Recognizable.

10

GET 2 SCORE (SECOND ROUND)

OVERALL GET 2 SCORE
(Second Round)

83%

SECOND ROUND SCORES
ACHIEVE

92%

AUTONOMY

83%
CREATIVE

83%
RISK TAKING

75%

CONTROL

83%

DO YOU FEEL THIS WAS AN ACCURATE REPRESENTATION OF YOUR ENTERPRISING TENDENCIES, PLEASE EXPLAIN
WHY?
_____________________________________________________________________________________

Please specify what you have enjoyed the most about this course?

_________________________________________________________________________________________________

_________________________________________________________________________________________________
_________________________________________________________________________________________________
_________________________________________________
Any suggestions?
_________________________________________________________________________________________________
_________________________________________________________________________________________________
_____________________________________________________________