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Essay / Research Paper Abstract
This 10 page paper considers the role and importance and current approaches to mentoring entrepreneurs including the the use of mentoring as a human resource mechanism in an entrepreneurial context. The bibliography cites 15 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEmentrep.rtf
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Unformatted sample text from the term paper:
even the most motivated of individuals. A good example of the requirement for determination is James Dyson, the inventor of the bagless vacuum cleaner who was told by Hotpoint that
his idea was "dead from the neck up" (BBC News, 2001). No other companies were interested and in the end he started up his own company to get his idea
into an already mature market, and after only five years of operations Dyson became the number one UK brand in the entire floor cleaning sector (Dyson, 2000). Today, James Dyson
is a millionaire. This is an entrepreneurial success story, however, not all entrepreneurial stories will be as successful. Dyson had access to sufficient resources and the knowledge and skills needed
to start his own company and get the products in the market. For all ideas to get to the market there will be many which failed. Some entrepreneurs may not
have the ideas or innovations which will be successful no matter what backing they would get, however, others may have a great deal of potential and lack the knowledge or
skills required in some areas. A strategy that has been used in some areas is that of entrepreneurial mentoring. This may be seen as a strategy used by business organisations
which are set up for mutual support, it may also be seen as a human relations management tool to help develop individuals. In order to consider the value of entrepreneurial
mentoring we can look at the way in which this can take place and the benefits it provides in terms of mentoring entrepreneurs as well is a human relations management
tool. A mentor is defined as "A wise and trusted counsellor or teacher" (Dictonay.com, 2007). This means mentoring is a way of transferring different types of knowledge for more with
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