Entrepreneurship and Small Business Management

This presentation provides an overview of entrepreneurship and small business management. It discusses the impact of micro-small businesses on the economy, the importance of small businesses and start-ups, characteristics of successful entrepreneurs, required skills, entrepreneurial personality traits, and how background and experiences can foster or hinder entrepreneurship.

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

 The entrepreneur is a person
who is involved in coming up
with new business ideas
taking all risks and enjoying
the profits in the market
place. he is individual who
look after all the resources
and combine them to
produce effective goods and
services for the organisation
and earn the profits in the
long run
Introduction:

 Small business units: These business needs
around 50 worker in the organisation generating
the income of 5 million annually.
 Medium entity: these business needs around
50 worker in the organisation generating the
income of 5 million annually.
 Larger business: organisation focus on
operating at larger scale to place their goods in
the market place
Micro-small business impact on
economy :

 Standard of
living:
 Innovation:
Importance of small business and starts-up:

 Low overheads:the small business entity operates
its activities at lower scale which reduce the
overheads expenses of the organisation such as
rents, wages , electricity and miscellaneous expense
 Employment to the local workers: : the small and
medium business helps in providing employment
opportunities to the people of the UK market.
wherein, larger business need competent and skilful
employee working for common goals and objectives
.
Continue:

 The skills and important characteristic of two
successful entrepreneurs such as Louis Vuitton and
Henry ford are :
 Self-beliefs: The skills and important
characteristic of two successful entrepreneurs such
as Louis Vuitton and Henry ford are
 Passionate: : it is necessary for the
entrepreneurs to have great passion towards their
business ideas which helps them to achieve the
desire results in the profitable manners
characteristic ofsuccessful
entrepreneurs:

 Creativity :
 Disciplined:
Traits:

 Learning skills: this skills helps the
entrepreneurs to learn the new skills and
capabilities which helps them to perform
the activities in the most effective manners.
 Decision –making: all the entrepreneurs
are good in making the sound business
decision for the organisation which helps
them to increase the profit margin in the
competitive market place.
Skills:

 To understand the
personality of the
entrepreneurs , Ocean
model of personality is
used which explain the
attributes of the
entrepreneurs:
 Openness:
 Conscientiousness:
Entrepreneurial
personality :

 Extraversion: entrepreneur is a extrovert
person who likes to share its ideas and
thought with its team members so that best
outcome can be seen in the organisation with
effective utilization of available resources.
 Agreeableness: these they of entrepreneur
are very helpful and generous in the team and
they are very cooperative person in the
organisation. these people like to volunteer
and engage in social activities.

 Neuroticism: the people who holds this
traits are very emotional unstable and not
happy with their work in the organisation.
these person experiences anxiety, mood
swings, discomforted while working in team
or as a individual in the organisation.

 The entreprenur have find out the effective
way to compete the task in the most
valuable manners so that profits can be
earned in present as well as in the long
period of time. The another way to
cultivate effective entrepreneur is having
successful family background which them to
the make best use of available resources.
background and experiences can
hinder or foster entrepreneurship

 According to above discussions, it can be
concluded that they are different type of
entrepreneurial ventures in the market
which helps in improving the economy of
the nation. Further how entrepreneur have
create the opportunists for the people of the
organisation and discussed the skills and
knowledge of the entrepreneur which helps
them to achieve the organisation objectives
in the most effective manners.
Conclusion:

 Botha, M. and Bignotti, A., 2016. Internships
enhancing entrepreneurial intent and self-
efficacy: Investigating tertiary-level
entrepreneurship education
programmes. The Southern African Journal
of Entrepreneurship and Small Business
Management, 8(1), pp.1-15.
 Burns, P., 2016. Entrepreneurship and small
business. Palgrave Macmillan Limited.
References:

 Thank you: