Entrepreneurial Environment: Challenges & Rewards - Essay Sample

Introduction

Establishing a business may prove difficult since it calls for the transformation of an idea into a working strategy, and needs discipline and precise objective setting. Besides, the rising demand for professionalism for IT (Information technology), and web development, and planning of business with higher-end development and minimal costs needs to be generated (Alavi, Simon and Seager, 2017). This essay will form the basis of comprehending the environment and entrepreneurship terms where an enterprise is established. It will also illustrate the acquisition of resources and the small business plan strategies as well as developing a roadmap for the creation of a web-related enterprise. This essay will help to create goals and objectives for the company's performance (Smith & Smith, 2019).

The understanding of a company and the projection of a business image is a way of showing the seriousness and professionalism of the company and could be a decisive point when setting up a small business (Landström, 2017). Several pieces of research indicate that issues with the small enterprises, especially among the startups, are incredibly high, but their renowned causes may be poor financial management and undercapitalization. For instance, in the united states, the financial professors from about six hundred and sixty-two colleges seem to agree with the ideas used in the small businesses and entrepreneurship, as shown by the additional attention in the small financial business (Clement & Silvernagel, 2019).

The materialization and expansion of a business idea come with financial challenges in many cases, and the company should have access to external assistance based on various aspects, including the level of control and the various methods that need to be analyzed. However, the most common sources of external business finance remain to be bank loans, venture capital, bootstrapping, and angel funding investment; hence selecting from numerous possible sources may be a critical concern for a consider (Wallmeroth et al., 2018).

Business Summary of a Company

Kyn Solutions is a company for web development with a comprehensive skill laid for understanding the needs of its customers as well as developing the systems per their requirements. The company provides creative and scalable solutions which meet the demand of our customers. Our customers' satisfaction is our primary concern as we make it a reality through the production of current business opportunities.

Kyn solutions is a startup business-suited at the Science park in Jonkoping City, Sweden. It also provides website-related services, including software development, website design, consulting, system management, web-analysis, and marketing. The pioneers of this firm are bachelor's and master's degree holders in computer engineering majoring in IT. While the capacity of the company to hold other firms in the provision of superior services for any young enterprise to large businesses draws from vast experience in technology management projects.

The rate of demand for IT consulting and website development in small companies has been and will continue having consistent growth. However, the ratio between the demand and website development firms for companies in want of these services remains high and expansive. Kyn solutions have a role of consistently enhancing its processes and procedures to be more efficient. The reduction of costs of the project allows us to generate high-quality website development services for businesses at a considerable expense for their customers.

General Description of the Company

Mission

Kyn solutions is an IT provider that generates high-quality services and boosts business opportunities for their clients.

Objectives

The objectives of Kyn solutions include generating professional website development, producing and maintaining satisfaction for all the customers, projecting a powerful business image, and precise information of our sample portfolio and services. Moreover, the company also bases corporate practices on the high ethic level.

The secrets to success of Kyn company is drawn from precise understanding and identification of the demands of the clients. Also, the provision of high-end website development to enterprise in an affordable manner. Effective allocation of resources to every project and documentation of processes. The identification of our company's segments which offers website-related services such as hosting, website maintenance, optimization of the search engine, website design, consulting and marketing has also enabled the company a success, along with the establishment of strategic partnerships with consulting companies and service providers, and website marketing regionally and globally.

The Presentation of the Company

Kyn solutions company is a website development company with a vast skill set to comprehend the needs of the customers as well as developing the systems to meet their demands. It is also an IT provider where upcoming firms and small businesses can source from their information technology.

The Establishment of the Business

Kyn solutions emerged in 2008, from numerous requests by the startup firms to create their web and business image to boost their products. The company realized there were many firms involved in the production of sites and publishing on the internet though they did not meet the demands of their customers. This fact encouraged us to put efforts into developing a web-based solutions company that would serve the entire variety of businesses from the upcoming companies to big government group companies with a comprehensive range of services in one place.

The offices of Kyn company are suited at the Jonkoping science park near the University of Jonkoping from where many ideas emerge. We are concerned with the creation of services and products. We also have a simple tradition managing projects globally supported by telecommunication technology.

The Team

The Chief Executive Officer of this company is Talamantes Jose. He is a flexible leader with vast experience in website development and web-design, customer management, and project management with private sector customers. Jose is acquainted with the technical environment and is regularly updated with the website's technological development. Besides, he has individual skills in areas such as project management, business execution and extension, networking technologies, web graphics, and imaging, and lastly, time and resource optimization.

On the other hand, the communication technology officer of Kyn company is Cardenas Hector, the cofounder. He has experience in software development with seven-year expertise in the event of software support and applications. Hector is vast with the customer relationship with state and federal government customers. Moreover, he possesses skills in the following fields information architecture, enterprise information technology systems, distributed application development, administration and support software, and hardware and backend elements programming.

Legal Ownership of the Company

Kyn solutions company is a trademark belonging to its funders Hector and Jose, with each of them having a sole proprietorship.

Services

Kyn solutions firm is a full service IT provider for small enterprises that major mostly on web-related solutions. The services offered here are under the demands of the customers. The company offers high-end solutions, including web-related applications, websites, and consultancy time. Moreover, the future products and services likely to be offered by this firm could be educational seminars, web hosting, e-learning, content management systems.

SWOT Analysis of the Company

Kyn solutions firm shall, in the beginning, focus on website applications and website design. Majorly, concentrating the website design is on the small firms, and startups seeking to create a smart internet presence for the 1st time. It also involves companies with past development but still needs website design. The company services shall be marketed to small enterprise owners to make them have lasting impressions on their firm over the internet. These developments shall be adaptable to current trends and market changes and according to the demands of the clients, thus creating significant opportunities for the Kyn company.

The strength of the company is based on the number of times, regularity, and volume a website maintenance service could be developed per the budget and needs of the clients. The projected images of the services and products have to be serious, objective-oriented, efficient, trustable, and elegant.

Initially, the company planned to target customers who want an online presence as a goal to offer a complete range of services that can be understood and enjoyed by our clients—for instance, dynamic content, database-driven webs, and website features.

References

Alavi, A. R., Simon, J., & Seager, P. H. (2017). Corporate and Entrepreneurial Finance: Moving Your Business from Back of the Envelope to Front of the Class. Managing Media Businesses (pp. 183-204). Palgrave Macmillan, Cham. doi.org/10.1007/978-3-319-52021-6_10

Clement, T., & Silvernagel, C. (2019). A Conceptual Framework of Entrepreneurial Finance. Entrepreneurship Education and Pedagogy, 2(4), 308-332. doi.org/10.1177/2515127419846629

Landström, H. (2017). Advanced introduction to entrepreneurial finance. Edward Elgar Publishing. Accessed: https://books.google.co.ke/books?id=5-cnDwAAQBAJ&lpg=PT8&ots=7vdRilBQWb&dq=Entrepreneurial%20Finance%3A%20Fundamentals%20of%20Financial%20Planning%20and%20Management%20for%20Small%20Business&lr&pg=PT8#v=onepage&q&f=false

Smith, J. K., & Smith, R. L. (2019). Entrepreneurial Finance: Venture Capital, Deal Structure & Valuation. Stanford University Press.

Wallmeroth, J., Wirtz, P., & Groh, A. P. (2018). Venture capital, angel financing, and crowdfunding of entrepreneurial ventures: A literature review. Foundations and Trends® in Entrepreneurship, 14(1), 1-129. doi.org/10.1007/s11187-018-0009-5