This presentation explores the traits, skills and personality of successful entrepreneurs, including the OCEAN model. It also discusses how background and experience can impact entrepreneurship. References are included.
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Exploration of the Entrepreneurial Mindset Part 2
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•Introduction •Characteristic traits & skills of successful entrepreneurs •Entrepreneurialpersonalityreflectsentrepreneurialmotivationand mindset. •Background & experience can hinder or foster entrepreneurship •Conclusion •References Table of content
Introduction An entrepreneur is the one who runs and initiates the enterprise with way of limited resourcesandaneffectiveplan.Itis responsible for the rewards and risk that is earned by the business enterprise. The main idea of the venture is mainly compassed of the new product or service and not of any existing model of the business.
DifferenceBetween Entrepreneur and Business Manager EntrepreneurBusiness Manager Entrepreneur is the one who are ready to take risk for the welfare of their business. Buiness manager is only work for the salary and manager is not responsible to take any kinmd of risk. Entrepreneurs are visionary and the main concern on starting and expanding the business idea. Business manager is concentrate on the day to day functioning so that all the functions can operate in smooth way. The key motivation of the entrepreneur is the achievements and success of the business. Key motivation of the manager is the power that come from the high position in the organization. Entrepreneur can be very casual and informal.Business manager can adopt the formal approach in every situation.
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Characteristic Traits & Skills Of Successful Entrepreneurs To become a successful entrepreneur, it is mandatory for the person to have appropriate characteristics, traits, & skills. Through these attributes, individual caneffectivelyachievetheirpermanentgoals&maintaineffective entrepreneur real personality around the whole globe. The prime motive of this report is to highlight specific characteristics, traits & skills about most influentialentrepreneurswhoareconstantlyworkingtowardachieving desirable outcomes & become the effective example of best entrepreneurial personalities.
Entrepreneurial Personality Reflects Entrepreneurial Motivation And Mindset There are various appropriate skills & traits are required so that individuals canmaintainedtheirentrepreneurrealpersonality.Inordertomanage influential entrepreneurial personality, it is mandatory for the entrepreneur to maintainspecificmindsetsothattheycaneffectivelyimprovetheir motivational level. To improve the mindset of the entrepreneur & obtain specific personality traits , it is mandatory for the entrepreneur to use OCEAN model so that we can learn specific personality traits in order to motivate them self. There are five personality traits are involved in this model which are discussed below -
OCEAN Model
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OCEAN Model Openness –This is containing as first personality trait which need to be consider by the entrepreneurs. The main concern of this state is to maintain the intellectual&imaginationpoweroftheentrepreneursothattheycan effectively use specific idea in order to improve their business operations. Conscientiousness –The prime concern of this personality trait is to maintain the the specific reliability & flexibility so that entrepreneurs can effectively improve their productivity level to achieve business goal.
Background & experience can hinder or foster entrepreneurship The explanation about background & experience about the local, social and global entrepreneurs are as follow - Peter Jones Background:Peter Jones is a British entrepreneur and was born on 18thmarch, 1966 in England. When Jones was a teenager, this entrepreneur earn money by providing tennis lessons to people after being an excellent player.
Conclusion It is concluded that there are many types of entrepreneurial ventures which includes small, local and social and are the part of typology which is categorized asgrowthandlifestylefirms.Thispresentationdiscussedaboutthe characteristics, skills & traits of the famous l entrepreneurs with their specific experiences.
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References Muyassarhon, U., 2018. The concept of development of management of small business based on institutional reforms.Бюллетень науки и практики,4(4). Niosi, J., 2018. Entrepreneurship: a short literature review.International Journal Entrepreneurship and Small Business,35(3), pp.257-265. Turner, T. and Gianiodis, P., 2018. Entrepreneurship unleashed: Understanding entrepreneurial education outside of the business school.Journal of Small Business Management,56(1), pp.131-149.