An Application of Timmons Model in the Mini Entrepreneurial Logistics Project

Abstract

The students of the Faculty of Entrepreneurship and Business, Universiti Malaysia Kelantan pursued a subject known as Trade Logistics and Distribution. As part of the course assessment, students were divided into groups and each group was required to implement a mini business project in the field of entrepreneurial logistics. They were free to work on any kind of business along the logistics chain, ranging from suppliers, distributors, manufacturers, wholesalers, retailers to consumers. This paper aimed to trace the application of Timmons Model of the Entrepreneurial Process by students during mini business project implementation. Findings show that students perceived resource availability as highly important in ensuring the success of the given project, and this is followed by the need for creativity and leadership quality. Correlation analysis indicates that creativity is significantly related to leadership quality, teamwork, resources available and opportunity identified. Leadership quality was also found to have influence on resource availability. Therefore, this study proves the relevancy of Timmons Model of the Entrepreneurial Process which implies that the key to any business success lies with the entrepreneur.

Social entrepreneurial opportunity recognition among higher education students: scale development and validation

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Stock Theft: Rural Livestock Farmers' Entrepreneurial Perspectives

“…According to Timmon's framework, there are three elements of a prosperous new business: the opportunity, the entrepreneur and management team are highly sought and if it is a greater potential venture, and the resources required to instigate the company and make it enormous (Bygrave & Zacharakis, 2011). This model prefers opportunities, team, and resources as the three essential factors and concludes that the achievement of an entrepreneur rests upon the capability to balance all these three factors (Ghee & Poerwowidagdo, 2010). Therefore, it commences when an entrepreneur detects an opportunity that chooses the size and type of team and other needed resources such as funds, technologies, and labour to make the most out of the identified opportunity (Whitehead, 2011).…”

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