Entrepreneurial Ventures and Mindset: Qualities, Skills, and Motivation

This presentation delves into the qualities, skills, and motivational drivers of successful entrepreneurs like Jeff Bezos and Elon Musk. It examines how personal background and experience can hinder or foster entrepreneurship. The report concludes with a discussion on the link between entrepreneurial characteristics and motivation.

Entrepreneurial
ventures and mindset

Table of content
 Introduction
 Task
 Qualities of entrepreneur
 Motivation
 Conclusion
 Refences

INTRODUCTION
Entrepreneur refers to those person which are taking the
risk of doing business with an ain to become successful.
The business which is conducted by the entrepreneur is
called entrepreneurship. Entrepreneur has special skills
and traits which helps them to establish an enterprise.
Entrepreneurship are very important for the development
of individual as well as for the development of nation
because the businesses are regarded as the booster of the
economy government of the respected country has
provided support and motivation to those persons which
are taking this risk.

Determine the characteristic traits and skills of successful entrepreneurs that
differentiate them from other business managers
One of the most important thing which separates the
entrepreneur from other persons are there skills, qualities and
traits. These traits of the entrepreneur helps them to establish
the new venture in the market and makes different efforts to
become successful in their business. It is very important for
the entrepreneur to develop these skills and traits in their
personality so that their venture achieve great heights. In the
past days most of the people states that entrepreneurship
qualities cannot be developed and only be present with the
birth of person.

Communication skills
It is related to those skills which helps the individual
to interact with other persons. It is one of the most
important skills of entrepreneur which enables them to
established healthy relations wit their business partners
and also with their employees. The basic requirement
to have this skills is that the person having the
knowledge of different languages and cultures. It is
very important for the person having effective
vocabulary.

Motivational skills
It is related to those skills of entrepreneur
which is used used by them to motivate the
employees towards the work of the
organisation. It is one of the most important
factor which should be present in the
organisation because the activities in the
modern business becomes complex and
difficult. The motivation of the employees
has great link with their needs and desires.

Creative and innovative thinking
It is compulsory for the entrepreneur to have creative and
innovative thinking so that they are able to deal with different
wicked problems arises in the organisation. The basic element
which are important for the success of entrepreneur in the
market is their new and innovative product.

Adaptability
It refers to those quality of the entrepreneur which
helps them to accept the changes in the environment
effectively. It is essential for the entrepreneur to
analyse the changes in the environment and make
considerable changes in their organisation. It
improves the capabilities of the organisation to deal
with the threats present in the organisation. It also
enables the entrepreneur to grab different
opportunities in the market and becomes more
competitive.

 There are many qualities, traits and skills present in the
selected entrepreneurs which differentiates them from
other. These qualities makes them successful
entrepreneur and leading business of the world and the
brief discussion related to the same are given below:

Jeff bezos
Jaffery Preston Bezos is an American
entrepreneur investors and computer
engineer. He is the most biggest entrepreneur
of the world which established one of the
most biggest E-commerce organisation of the
world called Amazon. In the early 90's Jeff
established an organisation under which they
operates a business of online book selling

Risk management skills
One of the most important skill of the Jeff is their
risk taking abilities. The risk taking abilities of the
Jeff Bezos is very effective as they take many risk
to established their venture such as risk of failure,
financial risk and many more. It is their qualities
that they take calculated risk which becomes
favourable for their business. It becomes example
for many persons that they have to take the risk to
becomes successful entrepreneur.

Autocratic leadership style
Most of the entrepreneur of the world has used democratic
style of leadership but Jeff Bezos has used autocratic style
of leadership. Under this style of leadership, all the
employees of the organisation has to follow the order of
their supreme body and not allowed to give their
suggestions. All the decisions relation to the business of
Amazon are taken by Jeff Bezos on the basis of their
personal traits and skills. The autocratic style of leadership
has differentiates the Jeff Bezos from other entrepreneurs.

Customer focused approach
There are many entrepreneurs are present whose approach
always lies on the profitability of the organisation. All
their strategies and policies are developed to maximise
their profits. Jeff Bezos has always customer focused
approach under which he customers of the organisation
has achieve first priority. Jeff Bezos develops all the
strategies and policies on the basis of customers. The
satisfaction of the customers becomes the priority of the
management instead profit maximisation.

Elon Musk
Elon Reeve musk is a successful entrepreneur and business
magnate which has operated many business and makes the
profitable. He is a founder and CEO of Space X and also the
CEO of Tesla. Both the companies are one of the biggest
organisation of the world. The reason for the success of
these companies are the traits and qualities of Elon Musk.
He is one of the most attractive entrepreneur which is
famous for their decision making and also for their superior
min set

Entrepreneurial spirit
One of the most important entrepreneurial quality of
the Elon Musk is their spirit to overcome from the
failure. There are many failures have seen by Elon
Musk in their past experience such as crash of Space
X rocket and bankrupt of Tesla. Their spirit does not
makes them demotivate and shuts their business. It
always makes efforts to makes their venture
successful and competitive. They have specialise
skills which is used by them to calculate the risk and
develops effective measures to deal with these issues.

Positive energy
All the customers, employees and their colleagues
always mentioned that they feel different positive energy
while working with Elon Musk which makes them
enthusiastic towards the work. Musk is highly
charismatic and optimism for future growth as they
always think about the future trend. The creation of self
driving vehicle and electronic vehicle is the result of
their future oriented thinking.

Assess how aspects of the entrepreneurial personality reflect Entrepreneurial
motivation and mind-set
Motivation is a process to stimulate the action of employees
towards the achievement of organisational goals and objectives.
Motivation is one of the most important aspect which should
be present in the organisation because it enables the employees
of the organisation to perform with their greatest strength so
that the goals can be achieved.

Jeff bezos
The personality of Jeff bezos has many traits and quality
which motivates their employees towards the goals and
objectives. The leader qualities of the Jeff bezos has an
ability to attract different types of people towards them
and takes the work from him. The employee centric
approach of the entrepreneur enables their employee that
Jeff bezos would work for their walfare.

Elon musk
There are many personal traits are present in the personality of the Elon
musk which motivates other persons and also their employees. First the
positive energy feel by the other persons and their employees while
working with Elon musk plays an important role in the motivation.
Second Elon musk does not believe in college degree or any theoretical
knowledge, they always prefer the skills instead of degree. The result for
this approach is that the recruiters of company hires the employees on the
basis of their skills and qualities not on the basis of their college degrees.

Explore and examine different lines of argument relating to entrepreneurial
characteristics.
 In the past time, most of the people believes that the
entrepreneurial characteristics cannot be developed
and it is quality which came with the person along
with their birth. This belief of the person proves to be
wrong by many entrepreneurs such as Elon Musk,
Jeff Bezos and many more. These entrepreneur has
develops characteristics by their hard work. The
presence of entrepreneurial characterised are very
important because it helps the person to become
successful entrepreneur and also helps them to
motivate their employees.

Analyse the characteristic traits, skills and motivational drivers of successful
entrepreneurs, supported by specific examples.
The leadership style of Jeff Bezos makes them different with
other entrepreneur because most of the leader follow
democratic style of leadership but they used autocratic style.
The positive behaviour of Elon Musk makes the personnel a
successful personality of the world.

Examine, using relevant examples, how background and experience can hinder or
foster entrepreneurs
 The background and experience has played an
important role in the both selected entrepreneur
because needs and desires are the best motivators
life. The brief discussion related to the same are
given below:

Jeff Bezos
 Jeff was born in very small family where there is no
business background of the family. Jeff has to face many
challenges and problems in their life as financial problems.
One of the most important challenges face by the bozos is
the divorce of their parents. Bezos has completed their
graduation from Princeton University and holds the degree
of mechanical engineering and computer science. These
condition of the entrepreneur has motivate the bezos to
established their own venture.

Elon Musk
The whole life of the Elon Musk are full of challenges
which provides many difficulties to them. One of the
most important tragedy happened when the rocket of
space X crashes. Company becomes bankrupt. This
condition does not restrict Musk to stop their efforts.
They always try and make efforts and these failure
becomes motivator for their success.

Analyse the link between entrepreneurial characteristics and the influence of personal
background and experience to specific successful entrepreneurs
There is serious link between entrepreneurial
characteristics and the influence of personal
background and experience to specific
successful entrepreneurs. All these factors
motivates the individual to become
successful entrepreneur. If the person are
having skills but does not have background
then their chance of success becomes less in
comparison to those person having both the
aspect.

CONCLUSION
 It is concluded from this report that background and
experience are important aspect which motivate the
individual to become entrepreneur. This report
concludes description related to the characteristics traits
and skills of these entrepreneurs and how the
personality of these entrepreneur reflects motivation.

References
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gender: What’s personality got to do with it?. International journal of gender
and entrepreneurship.
 Coad, A. and Storey, D.J., 2021. Taking the entrepreneur out of
entrepreneurship. International Journal of Management Reviews.
 Crawford, J., Kelder, J.A. and Knox, M.W., 2020. What does it take to be a social
entrepreneur?: Authentic leaders and their effect on innovation. In Leadership
styles, innovation, and social entrepreneurship in the era of digitalization (pp.
282-310). IGI Global.
 Darmanto, S. and Yuliari, G., 2018. Mediating role of entrepreneurial self
efficacy in developing entrepreneurial behavior of entrepreneur
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