Entrepreneurship & Small Business Management Assignment (pdf)

Entrepreneurship
and Small Business
Management

INTRODUCTION
Entrepreneurship is mainly considered a the procedures of business activities which
concentrate upon introducing as well as designing new and innovation goods and services to
consumers. These are enterprise that is managed and owned through individuals who is
accountable for facing all the losses and enjoy the profits (Allen, S. and Truman, C., 2016).
Moreover, entrepreneurship is explained as a ability of people or group of individuals for
managing entrepreneur venture. The aim of this report is to describe the range of entrepreneurial
ventures with their differences and similarities among them. Effect of small as well as start up
business upon economy. Various characteristics, trait and skills of different entrepreneur. Apart
from this, several factors of environment which hinder or foster entrepreneurship are also
mentioned in this report.
TASK 1 and TASK 2
COVERED IN BOOKLET
TASK 3
P5.
Characteristics traits are generally considered as the behaviours of the people that
explains its personality this involves its patience, honesty and many more. A Successful
entrepreneur possess its knowledge that aids them to develop as well as build its image
(Blackburn, Hart and Wainwright, 2013). The tow successful entrepreneurs are Oprah Winfrey
and Henry Ford. Oprah Winfrey is a woman entrepreneur that host a show, media executive and
actress. Where as henry ford is the assembly line sponsor into mass production. Both
characteristics traits and skills are follows:
Entrepreneurs Characteristics Traits Skills
Henry ford A man of quality-
Henry ford have belief
in facilitating
standards quality of
products or services to
their customers. Any
Thirsty for more- this
traits of Henry ford
explains that, it is the
one who do not
satisfied with the
things that he have
Motivator- Henry ford
have this skills
through this they able
to motivate their staff
to work hard.
Moreover, it guides
1