Entrepreneurship and Small Business Management

This presentation explores the characteristics, traits, and aspects of entrepreneurial personality in the context of entrepreneurship and small business management.

Entrepreneurship and small
business management

Table of content
 Introduction
 Determination of characteristic traits and skills of successful entrepreneurs
 Assessment of aspects of entrepreneurial personality
 Conclusion
 References

Introduction
Entrepreneurs are generally known as risk takers and leaders having traits
which makes them stand out in comparison to others. Also, there are different aspects
of an entrepreneur's personality which reflect motivation and mindset. The
characteristics, traits and multiple aspects of an entrepreneur's personality have been
covered in this presentation.

Determination of characteristic traits and skills
of successful entrepreneurs
Successful entrepreneurs are the ones having passion, creativity and skill of innovation (Singh
and Gaur, 2018). They have strong work ethic and are not afraid to take risks. Larry Ellison
and Michael Dell are successful entrepreneurs having the following characteristics and traits-
Characteristics-
 Risk taker- Both Larry Ellison and Michael Dell are risk takers having started their
ventures at a time when the technology wasn't developed.
 Leader- Larry Ellison and Michael Dell are effective leaders having ability to motivate
their employees to do their work effectively.

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Traits-
 Determination- Larry Ellison and Michael
Dell have strong determination and do not get
impacted by challenges.
 Creativity- Larry Ellison and Michael Dell
believe in creativity and regularly bring out
creative products and services by finding needs
and demands of consumers.

Assessment of aspects of entrepreneurial
personality
The model which displays various traits of entrepreneurs which help them in shaping
their personality is known as Big Trait Model (The Big Five Personality Traits
Model. 2019). These traits are-
 Openness- It means having a dynamic personality and interaction with people of
different background.
 Conscientiousness- Conscientiousness is a measure of productivity of a person,
especially lower-level employees of the organisation.

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 Extraversion- A extrovert is a person who
expresses ideas to other people and is very
emotionally expressive
 Agreeableness- This means that
entrepreneurs need to be agreeable with
people and support their ideas.
 Neuroticism- It is the ability of a person to
counter stress and difficult situations.

Conclusion
From the above discussion, it can be concluded that entrepreneurs are different from
ordinary business managers due to their characteristics and traits. Traits of
entrepreneurial personality help entrepreneurs in developing motivation and mindset.

References
 George, G. and et.al., 2016. Social structure, reasonable gain, and entrepreneurship in
Africa. Strategic Management Journal. 37(6). pp.1118-1131.
 Newman, A., Schwarz, S. and Ahlstrom, D., 2017. Microfinance and entrepreneurship:
An introduction. International Small Business Journal. 35(7). pp.787-792.
 Soundararajan, V., Jamali, D. and Spence, L. J., 2018. Small business social
responsibility: A critical multilevel review, synthesis and research agenda. International
Journal of Management Reviews. 20(4). pp.934-956.

Thank you