Analysis of Entrepreneurship Research Studies
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AI Summary
The provided assignment involves analyzing a list of research papers related to entrepreneurship, covering topics such as entrepreneurial intentions, capabilities, skills, and the impact of education. It includes references from notable sources like Drucker's 'Innovation and Entrepreneurship' and Fayolle's work on entrepreneurial attitudes and intention. The analysis aims to provide insights into the enigma of entrepreneurship, the role of practice and coaching in entrepreneurial skill domains, and the relationship between entrepreneurial characteristics and dynamic capabilities.
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ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT
SMALL BUSINESS
MANAGEMENT
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TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK-1............................................................................................................................................1
P1 Different types of entrepreneurial ventures and they relate to the typology of
entrepreneurship .........................................................................................................................1
P2 Similarities and differences between the entrepreneurship venture......................................3
TASK 2............................................................................................................................................4
P3 Assessment and interpretation of relevant data and statistics &Illustrate how micro and
small businesses impact on the economy....................................................................................4
P4 Explanation regarding the importance of small business and starts up will contribute to the
growth of social economy after Brexit........................................................................................4
TASK 3............................................................................................................................................5
P5) Characteristics, traits and skills of successful entrepreneurs, which it from other business
managers.....................................................................................................................................5
P6 Aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-set 7
TASK 4............................................................................................................................................8
P7 Background and experience can hinder or foster entrepreneurship......................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION...........................................................................................................................1
TASK-1............................................................................................................................................1
P1 Different types of entrepreneurial ventures and they relate to the typology of
entrepreneurship .........................................................................................................................1
P2 Similarities and differences between the entrepreneurship venture......................................3
TASK 2............................................................................................................................................4
P3 Assessment and interpretation of relevant data and statistics &Illustrate how micro and
small businesses impact on the economy....................................................................................4
P4 Explanation regarding the importance of small business and starts up will contribute to the
growth of social economy after Brexit........................................................................................4
TASK 3............................................................................................................................................5
P5) Characteristics, traits and skills of successful entrepreneurs, which it from other business
managers.....................................................................................................................................5
P6 Aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-set 7
TASK 4............................................................................................................................................8
P7 Background and experience can hinder or foster entrepreneurship......................................8
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
INTRODUCTION
Entrepreneurship is considered to be an activity under which person comes with an idea
and applying this idea, concept and thought during starting its activity. It is person who derives
the business risk associate with it. It is a person who comes out to take down the risk and wishing
to earn more returns. A person taking down risk according to his capability and willing to
establish its business and managing it accordingly and that helps in gaining more profits and
maximise its returns is called entrepreneur. This report is based on Brexit where withdrawal of
UK from the European Union. The report is going to give down the knowledge in depth
regarding the new start up venture and also describes its differences which arise under the
entrepreneurship business. More than that this reports describing about the various traits which
essentially lied under entrepreneur to make the business activity successful and differentiate
them from the other businessman.
TASK-1
P1 Different types of entrepreneurial ventures and they relate to the typology of entrepreneurship
Entrepreneur is considered to be a person who comes down with an idea and thought
regarding business activity and having a ability to take down risk and earning returns. He is
person who whose having a vision to thing for future so he come with an idea and applying it in
business and conduct his activity accordingly to earn down returns (Bae and et.al., 2014).
Entrepreneur is a person whose basic aim is make down arrangement regard land, labour and
capital and invest it before conducting its business. So, they have to prepare down various
strategies and plans before conducting its business and make it successful.
Small business entrepreneurship:
It is a business under which entrepreneur comes out with an idea to start down his activity where
some money he taken down from his pocket and the remaining amount he brings through
borrowing or by taking loans from banks and financial institutions and start his business (Baker,
Grinstein and Harmancioglu, 2015). He converts his idea into reality and deal under business
activity namely manufacturing as well as trading activity such as consultancy services,
boutiques, travelling agency, carpenters, plumbers and so on.
Scalable entrepreneurship:
1
Entrepreneurship is considered to be an activity under which person comes with an idea
and applying this idea, concept and thought during starting its activity. It is person who derives
the business risk associate with it. It is a person who comes out to take down the risk and wishing
to earn more returns. A person taking down risk according to his capability and willing to
establish its business and managing it accordingly and that helps in gaining more profits and
maximise its returns is called entrepreneur. This report is based on Brexit where withdrawal of
UK from the European Union. The report is going to give down the knowledge in depth
regarding the new start up venture and also describes its differences which arise under the
entrepreneurship business. More than that this reports describing about the various traits which
essentially lied under entrepreneur to make the business activity successful and differentiate
them from the other businessman.
TASK-1
P1 Different types of entrepreneurial ventures and they relate to the typology of entrepreneurship
Entrepreneur is considered to be a person who comes down with an idea and thought
regarding business activity and having a ability to take down risk and earning returns. He is
person who whose having a vision to thing for future so he come with an idea and applying it in
business and conduct his activity accordingly to earn down returns (Bae and et.al., 2014).
Entrepreneur is a person whose basic aim is make down arrangement regard land, labour and
capital and invest it before conducting its business. So, they have to prepare down various
strategies and plans before conducting its business and make it successful.
Small business entrepreneurship:
It is a business under which entrepreneur comes out with an idea to start down his activity where
some money he taken down from his pocket and the remaining amount he brings through
borrowing or by taking loans from banks and financial institutions and start his business (Baker,
Grinstein and Harmancioglu, 2015). He converts his idea into reality and deal under business
activity namely manufacturing as well as trading activity such as consultancy services,
boutiques, travelling agency, carpenters, plumbers and so on.
Scalable entrepreneurship:
1
This activity is relating to the organisational business activity where entrepreneur have to make
down various plan and policies and implementing such into its business activity to raise down its
vision and business. The person have to arrange down funds in large scale to set up or starting its
venture and carried out plan and procedure as per the process (Bruni, Gherardi and Poggio,
2014). To start up this activity venture requires the effective funds along with resource
allocation.
Social entrepreneurship:
It is those risk takers who focusing on providing goods and services according to the needs and
society. While producing down product they have to consider down the risk factors and see those
risk factors and producing the product accordingly, so it does not affect the people as well as
society, does not create any harm for them while using it and also does not affect the society by
involving any risk factors (Bruni, Gherardi and Poggio, 2014). These are those persons who are
not coming for profit but aim is to give maximum satisfaction to the people and they are
considered as non profit entrepreneurship entities. They are also contributed towards the national
development and growth of the nation by contributing under employment, export import, F Dis,
tourism sector and CSR activities.
Trading entrepreneurship:
It is a person who are undertaking trading activities and they are not having any concerned
related to the manufacturing or production work but they are engaged in selling down the
finished product to its customers. In such kind of entrepreneurship business, The proprietor
directly selling down his finished goods either by itself or his retailer (Carland, Carland and
Stewart, 2015). Trading entrepreneurship under which person acts as middlemen between
borrower and lender and they are retailer, distributor, whole seller.
Industrial entrepreneur:
It is person who invest money in industrial activity in form land, labour and capital. Before
starting it has to set up its business in such locality where the person will not affect due to
pollution, dust and so on. Such entrepreneur have to focus down certain things and set up its
business and producing the goods according to the customer's requirement and delivering it to
2
down various plan and policies and implementing such into its business activity to raise down its
vision and business. The person have to arrange down funds in large scale to set up or starting its
venture and carried out plan and procedure as per the process (Bruni, Gherardi and Poggio,
2014). To start up this activity venture requires the effective funds along with resource
allocation.
Social entrepreneurship:
It is those risk takers who focusing on providing goods and services according to the needs and
society. While producing down product they have to consider down the risk factors and see those
risk factors and producing the product accordingly, so it does not affect the people as well as
society, does not create any harm for them while using it and also does not affect the society by
involving any risk factors (Bruni, Gherardi and Poggio, 2014). These are those persons who are
not coming for profit but aim is to give maximum satisfaction to the people and they are
considered as non profit entrepreneurship entities. They are also contributed towards the national
development and growth of the nation by contributing under employment, export import, F Dis,
tourism sector and CSR activities.
Trading entrepreneurship:
It is a person who are undertaking trading activities and they are not having any concerned
related to the manufacturing or production work but they are engaged in selling down the
finished product to its customers. In such kind of entrepreneurship business, The proprietor
directly selling down his finished goods either by itself or his retailer (Carland, Carland and
Stewart, 2015). Trading entrepreneurship under which person acts as middlemen between
borrower and lender and they are retailer, distributor, whole seller.
Industrial entrepreneur:
It is person who invest money in industrial activity in form land, labour and capital. Before
starting it has to set up its business in such locality where the person will not affect due to
pollution, dust and so on. Such entrepreneur have to focus down certain things and set up its
business and producing the goods according to the customer's requirement and delivering it to
2
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them in order to provide maximum satisfaction (Carraher and Paridon, 2015). They convert
down the raw materials into finished goods.
With regarding to such aspect entrepreneur have to considered down the certain factors to
make its business activity successful. Corporate entrepreneur:These are this entrepreneur who using its skills and ability and
managing the work and performing it accordingly to the leading innovation and
techniques (Castello, Barbera and Vaara, 2016). The entrepreneur has to work according
to the plans and implement it properly while conducting its activity.
Agricultural entrepreneur :These are those persons who conducting down agricultural
work such as cultivation activity, marketing of crops by using down fertilisers and
pesticides. They conducting down the agricultural work by using out various innovating
techniques in order to get various outcomes.
As, discussion already been done with that regard and tells about there are different kinds of
entrepreneurship business which having its own purpose, target and system and that venture
conducting there business activity by considering out all such factors and make there venture
successful. With regarding to such aspect entrepreneur have to considered down the certain
factors to make its business activity successful. In such context, the entrepreneur have to
develop down various strategies and plans to make the business activity successful and effective.
In accordance, micro enterprise formulate out various innovative techniques to conduct the
operation more effective and better.
P2 Similarities and differences between the entrepreneurship venture
The already discussion has been made that there are certain kinds of entrepreneurship
business which having different approaches regarding survival regarding its business activities
during conducting it in the market. The certain differences are as follows:
The entrepreneurial ventures are not similar they are different in terms of risk, purpose,
size, structure and so on (Charness, 2014). The entrepreneurial business are of various kinds and
due to difference in its variety, the risk is also different and they are earning returns accordingly
to that. In context related to the small business ventures, the manager is responsible for managing
and controlling down the business activity and to take decision accordingly to that. Small
3
down the raw materials into finished goods.
With regarding to such aspect entrepreneur have to considered down the certain factors to
make its business activity successful. Corporate entrepreneur:These are this entrepreneur who using its skills and ability and
managing the work and performing it accordingly to the leading innovation and
techniques (Castello, Barbera and Vaara, 2016). The entrepreneur has to work according
to the plans and implement it properly while conducting its activity.
Agricultural entrepreneur :These are those persons who conducting down agricultural
work such as cultivation activity, marketing of crops by using down fertilisers and
pesticides. They conducting down the agricultural work by using out various innovating
techniques in order to get various outcomes.
As, discussion already been done with that regard and tells about there are different kinds of
entrepreneurship business which having its own purpose, target and system and that venture
conducting there business activity by considering out all such factors and make there venture
successful. With regarding to such aspect entrepreneur have to considered down the certain
factors to make its business activity successful. In such context, the entrepreneur have to
develop down various strategies and plans to make the business activity successful and effective.
In accordance, micro enterprise formulate out various innovative techniques to conduct the
operation more effective and better.
P2 Similarities and differences between the entrepreneurship venture
The already discussion has been made that there are certain kinds of entrepreneurship
business which having different approaches regarding survival regarding its business activities
during conducting it in the market. The certain differences are as follows:
The entrepreneurial ventures are not similar they are different in terms of risk, purpose,
size, structure and so on (Charness, 2014). The entrepreneurial business are of various kinds and
due to difference in its variety, the risk is also different and they are earning returns accordingly
to that. In context related to the small business ventures, the manager is responsible for managing
and controlling down the business activity and to take decision accordingly to that. Small
3
business are those ventures whose area of working is small and due to small area of conducting
business activity there risk is also less. The small venture preparing down the strategies and plans
and implementing it into its business activities and performing there business operations
according to that only. They are considering and focusing towards its mission and vision and set
up according to that only to raise its objectives. Moreover, under trading entrepreneur the
proprietor is not having concerned with the process of manufacturing and production but they act
as middleman and there duty is to sell sown goods to its customers and they are not dealing or
carrying out the process relating to production and manufacturing, On the other side companies
working at large level and having long scale of production are using innovative techniques and
modern technologies to carry out his production or manufacturing process and the risk is also
considerable high (Cherny and et.al., 2016). This kind of ventures carrying out his functions
when they have its own structure and having ability to take down risk. The social
entrepreneurship business is different from other business ventures because they are considering
out the factors relating to the societal needs and producing the product and services in order to
satisfy their requirements because there aim is not earn profit but to provide maximum services
to its customers. It can be explained on the basis of following charts:
Basis Small level
ventures
Scalable
ventures
Large company
business
Social ventures
Purposes They work at
smaller level and
these
entrepreneurs are
creative thinkers
and also made a
contribution in
terms of
economic growth
and development
of the country and
generating
They essentially
bring down new
and modern
techniques which
essentially helps
down cited
business in
improving their
operations and
also maintaining a
balance between
the operations
They generally
made an
investment under
various latest
techniques and
advance
technologies
which essentially
helps down
business in
improving their
performances and
They generally
set up for the
social cause and
social welfare and
there motive is
not to earn profit
but to provides
services to
individuals in
various manner so
they don't have to
depend on others
4
business activity there risk is also less. The small venture preparing down the strategies and plans
and implementing it into its business activities and performing there business operations
according to that only. They are considering and focusing towards its mission and vision and set
up according to that only to raise its objectives. Moreover, under trading entrepreneur the
proprietor is not having concerned with the process of manufacturing and production but they act
as middleman and there duty is to sell sown goods to its customers and they are not dealing or
carrying out the process relating to production and manufacturing, On the other side companies
working at large level and having long scale of production are using innovative techniques and
modern technologies to carry out his production or manufacturing process and the risk is also
considerable high (Cherny and et.al., 2016). This kind of ventures carrying out his functions
when they have its own structure and having ability to take down risk. The social
entrepreneurship business is different from other business ventures because they are considering
out the factors relating to the societal needs and producing the product and services in order to
satisfy their requirements because there aim is not earn profit but to provide maximum services
to its customers. It can be explained on the basis of following charts:
Basis Small level
ventures
Scalable
ventures
Large company
business
Social ventures
Purposes They work at
smaller level and
these
entrepreneurs are
creative thinkers
and also made a
contribution in
terms of
economic growth
and development
of the country and
generating
They essentially
bring down new
and modern
techniques which
essentially helps
down cited
business in
improving their
operations and
also maintaining a
balance between
the operations
They generally
made an
investment under
various latest
techniques and
advance
technologies
which essentially
helps down
business in
improving their
performances and
They generally
set up for the
social cause and
social welfare and
there motive is
not to earn profit
but to provides
services to
individuals in
various manner so
they don't have to
depend on others
4
various
opportunities for
the peoples in
terms of
employment.
which conduct
under the
organisation and
manage the entire
business.
also raising their
productivity and
profitability
for meet down
their needs
Scope There scope is
wide because they
contributing
immensely in
field of economic
growth and
development of
the nation.
They creating a
balance under the
organisational
activities and
helps them in
such a manner so
that organisation
can improve their
efficiency ad
productivity.
The new
technology used
by the
organisation
under
manufacturing
helps down
business in
improving their
efficiency and
also increase its
productivity and
profitability.
The funds which
collected are
essentially used
for the social
cause and for the
welfare of
individuals.
Risks Moderate level of
risk is involved
under this.
High level of risk Riskier Lower level of
risk is covered.
Requirements of
funds
Moderate funds is
essentially
required under
this.
Required high
amount of funds.
It required the
highest level of
funds for bringing
new and advance
technology.
Either required
moderate level of
funds or lower
level of funds.
5
opportunities for
the peoples in
terms of
employment.
which conduct
under the
organisation and
manage the entire
business.
also raising their
productivity and
profitability
for meet down
their needs
Scope There scope is
wide because they
contributing
immensely in
field of economic
growth and
development of
the nation.
They creating a
balance under the
organisational
activities and
helps them in
such a manner so
that organisation
can improve their
efficiency ad
productivity.
The new
technology used
by the
organisation
under
manufacturing
helps down
business in
improving their
efficiency and
also increase its
productivity and
profitability.
The funds which
collected are
essentially used
for the social
cause and for the
welfare of
individuals.
Risks Moderate level of
risk is involved
under this.
High level of risk Riskier Lower level of
risk is covered.
Requirements of
funds
Moderate funds is
essentially
required under
this.
Required high
amount of funds.
It required the
highest level of
funds for bringing
new and advance
technology.
Either required
moderate level of
funds or lower
level of funds.
5
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TASK 2
P3 Assessment and interpretation of relevant data and statistics &Illustrate how micro and small
businesses impact on the economy
Small scale business are not in a position to generate down more money or not carrying
out an appropriate investment activity as compared to large business corporations. But, it plays
down a vital role under the development and growth of the nation (Cherny and et.al., 2016). The
micro and small medium enterprises helps in building upon the development and growth of the
nation by generating its revenue, providing employment opportunities to the people, producing
goods and services to the people by considering out the factors such as demographic and
climactic conditions and so on. So on such a way micro business helps in developing the growth
of country and generating the national income and contributing the GDP of the country. In
addition to this, it also helps in generating the various opportunities to the citizens in field of
employment. The various small business having an ability to respond according the situation and
the economic conditions which arise in the market. The various small business which conducting
there business activities are customer oriented. Many of the customers invest in various small
companies in considering getting a return because they don't want to take high risk and
essentially want to make reasonable returns from that. Many of the firm distributed dividend in
to its customers in case of earning profitability (Dooley and Kenny, 2014). Local business will
generate high income, which directly means that the business will pay greater taxes. The taxes
which paid by the small business to the government is often used in the developmental activities,
local police and essentially used to make colleges and schools.
6
P3 Assessment and interpretation of relevant data and statistics &Illustrate how micro and small
businesses impact on the economy
Small scale business are not in a position to generate down more money or not carrying
out an appropriate investment activity as compared to large business corporations. But, it plays
down a vital role under the development and growth of the nation (Cherny and et.al., 2016). The
micro and small medium enterprises helps in building upon the development and growth of the
nation by generating its revenue, providing employment opportunities to the people, producing
goods and services to the people by considering out the factors such as demographic and
climactic conditions and so on. So on such a way micro business helps in developing the growth
of country and generating the national income and contributing the GDP of the country. In
addition to this, it also helps in generating the various opportunities to the citizens in field of
employment. The various small business having an ability to respond according the situation and
the economic conditions which arise in the market. The various small business which conducting
there business activities are customer oriented. Many of the customers invest in various small
companies in considering getting a return because they don't want to take high risk and
essentially want to make reasonable returns from that. Many of the firm distributed dividend in
to its customers in case of earning profitability (Dooley and Kenny, 2014). Local business will
generate high income, which directly means that the business will pay greater taxes. The taxes
which paid by the small business to the government is often used in the developmental activities,
local police and essentially used to make colleges and schools.
6
Illustration-1: Increasing small enterprises impacts on UK's Economy,2016
It been explained that in UK the small level ventures increased since,2013.It been cleared that
the small ventures are very essentially for the nation because it directly made a contribution in
terms of economic growth and development. Moreover, it also explained that due to the BREXIT
involve helps down UK government in framing down various policies and plans and
implementing those policies for effective work done and the UK government also encourage the
new entrepreneurs who are essentially going to set up their business activity. Due to that
situation, Various company established their business operations and it also helps down company
in improving their performances. Moreover, it also said that business can conducting their
operations effectively only when they are adopting the new and latest technology. The positive
factors arise under UK change the situation and also helps down ventures In increasing their
operations.
7
It been explained that in UK the small level ventures increased since,2013.It been cleared that
the small ventures are very essentially for the nation because it directly made a contribution in
terms of economic growth and development. Moreover, it also explained that due to the BREXIT
involve helps down UK government in framing down various policies and plans and
implementing those policies for effective work done and the UK government also encourage the
new entrepreneurs who are essentially going to set up their business activity. Due to that
situation, Various company established their business operations and it also helps down company
in improving their performances. Moreover, it also said that business can conducting their
operations effectively only when they are adopting the new and latest technology. The positive
factors arise under UK change the situation and also helps down ventures In increasing their
operations.
7
Moreover, the rising In ventures since 2013 are also made an impact on UK in terms of
technological and its related advancements and this essentially be cleared on the basis of
following diagrams:
Illustration-2 : Investment under technology in UK
This diagram explained that the advance technology and innovative s technique used by the
small ventures while conducting their operations helps In improving their functioning and also
make the organisation functions effective. Moreover, it also been cleared that the balance took
place in filed of import as well as exports develop the economy of the nation and make them
effective and the advance technology helps do company in various ways and also make the
company effective and also improving its growth and productivity.
P4 Explanation regarding the importance of small business and starts up will contribute to the
growth of social economy after Brexit
UK taken down from the European union namely Brexit. After the structure of the nation
has been completely changed in various fields relating to the production activity, economic
activity, employment activity and so on. The research has been conducting out and seen that after
8
technological and its related advancements and this essentially be cleared on the basis of
following diagrams:
Illustration-2 : Investment under technology in UK
This diagram explained that the advance technology and innovative s technique used by the
small ventures while conducting their operations helps In improving their functioning and also
make the organisation functions effective. Moreover, it also been cleared that the balance took
place in filed of import as well as exports develop the economy of the nation and make them
effective and the advance technology helps do company in various ways and also make the
company effective and also improving its growth and productivity.
P4 Explanation regarding the importance of small business and starts up will contribute to the
growth of social economy after Brexit
UK taken down from the European union namely Brexit. After the structure of the nation
has been completely changed in various fields relating to the production activity, economic
activity, employment activity and so on. The research has been conducting out and seen that after
8
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Brexit, country growth and rapid development is increasing in various fields related to social,
economical, financial, agricultural and many more. With regard to it, various new micro business
and enterprise establish themselves after happening this Brexit (Drucker, 2014). They also give
the positive impact on the growth and development of the company such as increasing in
national income, contributing in GDP and increasing employment opportunities for the people
etc. It creating a chance for the individual regarding its employment and also improving there
personalities and make them professionals. Moreover, the country gets an opportunity to provide
employment opportunities to its citizen. It also giving benefit to the nation in all course by
reducing immigration and unemployment problems. It also helps in increasing the GDP of the
country and also developing the area by boosting them (Fayolle and Gailly, 2015). After the
Brexit done, it also creating a demand and supply regarding the product and services and also the
living standard of people been improving and company able to work more easily and producing
the goods accordingly and satisfying the customers needs and satisfaction.
Illustration-3: Impact of BREXIT on UK economy
It been recognised that the economy of the UK is increased due to Foreign Direct Investment. In
regard to that aspect, the various favourable factors and its related conditions are determined by
business and in that regard the certain improvements and changes takes place by the business In
their activity. As per the chart, the UK economy is rising every year and the various business
operations can be rising at higher level in the given future.
9
economical, financial, agricultural and many more. With regard to it, various new micro business
and enterprise establish themselves after happening this Brexit (Drucker, 2014). They also give
the positive impact on the growth and development of the company such as increasing in
national income, contributing in GDP and increasing employment opportunities for the people
etc. It creating a chance for the individual regarding its employment and also improving there
personalities and make them professionals. Moreover, the country gets an opportunity to provide
employment opportunities to its citizen. It also giving benefit to the nation in all course by
reducing immigration and unemployment problems. It also helps in increasing the GDP of the
country and also developing the area by boosting them (Fayolle and Gailly, 2015). After the
Brexit done, it also creating a demand and supply regarding the product and services and also the
living standard of people been improving and company able to work more easily and producing
the goods accordingly and satisfying the customers needs and satisfaction.
Illustration-3: Impact of BREXIT on UK economy
It been recognised that the economy of the UK is increased due to Foreign Direct Investment. In
regard to that aspect, the various favourable factors and its related conditions are determined by
business and in that regard the certain improvements and changes takes place by the business In
their activity. As per the chart, the UK economy is rising every year and the various business
operations can be rising at higher level in the given future.
9
TASK 3
P5) Characteristics, traits and skills of successful entrepreneurs, which it from other business
managers.
An entrepreneur is a person those ideas converted into reality. Entrepreneur starts a new
venture to his/her own ability to do work with new and different idea to do a work in any filed.
Entrepreneur have lot many skills and key factor to do a work in there filed (Hmieleski, Carr and
Baron, 2015). Skills are as follows : Innovative:- This is the most important skills is innovation or can say that innovative.
Each business start by an entrepreneur is different and innovative. Creative:- Entrepreneur is creative. Because each activity doing by entrepreneur is
creative. Always open to learn new technology:- Entrepreneur is a person who is always learned
new technology and skill to challenging market condition and changing conditions
(Mudalige, Ismail and Malek, 2016). Hard working:- Entrepreneur is a hard working. Entrepreneur achieve where
entrepreneur are and want to be in the future. Hard working means to do work with
positive manner with positive attitude. Ideas converted into reality:- Most important reasons to be a successful entrepreneur is
ability idea converted into reality. Entrepreneur gen rate lot many ideas and each and
every ideas take time to convert into reality. Entrepreneur is the only person that active
(Schlaegel and Koenig, 2014). Entrepreneur is management oriented:- Entrepreneur is person who work with the help
of management. Each and every activity based on management. Management is most
important to established new technology in economic environment. Management uses
five most effective terms to achieve are as planning, organising, directing, staffing and
controlling. However, there all are five most important terms to use entrepreneur to
established new technology in market. With the help of this five terms an entrepreneur is
a successful entrepreneur (Zhang, Song and Zhong, 2016).
10
P5) Characteristics, traits and skills of successful entrepreneurs, which it from other business
managers.
An entrepreneur is a person those ideas converted into reality. Entrepreneur starts a new
venture to his/her own ability to do work with new and different idea to do a work in any filed.
Entrepreneur have lot many skills and key factor to do a work in there filed (Hmieleski, Carr and
Baron, 2015). Skills are as follows : Innovative:- This is the most important skills is innovation or can say that innovative.
Each business start by an entrepreneur is different and innovative. Creative:- Entrepreneur is creative. Because each activity doing by entrepreneur is
creative. Always open to learn new technology:- Entrepreneur is a person who is always learned
new technology and skill to challenging market condition and changing conditions
(Mudalige, Ismail and Malek, 2016). Hard working:- Entrepreneur is a hard working. Entrepreneur achieve where
entrepreneur are and want to be in the future. Hard working means to do work with
positive manner with positive attitude. Ideas converted into reality:- Most important reasons to be a successful entrepreneur is
ability idea converted into reality. Entrepreneur gen rate lot many ideas and each and
every ideas take time to convert into reality. Entrepreneur is the only person that active
(Schlaegel and Koenig, 2014). Entrepreneur is management oriented:- Entrepreneur is person who work with the help
of management. Each and every activity based on management. Management is most
important to established new technology in economic environment. Management uses
five most effective terms to achieve are as planning, organising, directing, staffing and
controlling. However, there all are five most important terms to use entrepreneur to
established new technology in market. With the help of this five terms an entrepreneur is
a successful entrepreneur (Zhang, Song and Zhong, 2016).
10
Awareness :- Entrepreneur is a person who aware about every thing. Where entrepreneur
are and where entrepreneur want to be in future is totally depended upon awareness in
market conditions and new trends in market. Knowledgable:- Entrepreneur is a person to have sufficient knowledgable about there
filed. Entrepreneur have knowledgable about what, when, where, why, how. Therefore,
entrepreneur have complete knowledgable about our working conditions etc. Reduce Time :- Entrepreneur is a person doing work effectively or efficiently with less
time or plan to reduce time as well as cost (Cherny and et.al., 2016). Entrepreneur is
person can see work in all the angles and should be focus on to reduce time and reduce
cost but work will be done more effectively.
Vision and Mission :- An entrepreneur is a person there vision and mission should be
clear. There is two question in entrepreneur mind is what and why (Fayolle and Gailly,
2015). Entrepreneur is focus this two question and work done successfully.
The two examples in that regard are as follows:
The JK Rowling and the Richard Branson are the two successful entrepreneur under this and
they have innovative techniques which makes their business operations successful. The JK
Rowling is the first author who achieved net worth near about 1 billion for selling down Harry
Potter series of Books in the market and however Richard Branson is the CEO of virgin group
which is essentially a mobile and telecommunication company achieved net worth near about 4.6
billion. They both have different skills and mindset and on that basis they conducting their
operations and achieve down business performance in the market. They have special
characteristics which motivated them for learn down the process of creation and develop the
product by using it.
P6 Aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-set
Entrepreneurial personality reflect entrepreneurial motivation and mind-set.
Entrepreneur Personality :-Entrepreneur Personality is a combination of character and
quality that form individual different quality (Bird, 2015). Entrepreneur is personality reflect
totally different from others because there are some point are as follows......
11
are and where entrepreneur want to be in future is totally depended upon awareness in
market conditions and new trends in market. Knowledgable:- Entrepreneur is a person to have sufficient knowledgable about there
filed. Entrepreneur have knowledgable about what, when, where, why, how. Therefore,
entrepreneur have complete knowledgable about our working conditions etc. Reduce Time :- Entrepreneur is a person doing work effectively or efficiently with less
time or plan to reduce time as well as cost (Cherny and et.al., 2016). Entrepreneur is
person can see work in all the angles and should be focus on to reduce time and reduce
cost but work will be done more effectively.
Vision and Mission :- An entrepreneur is a person there vision and mission should be
clear. There is two question in entrepreneur mind is what and why (Fayolle and Gailly,
2015). Entrepreneur is focus this two question and work done successfully.
The two examples in that regard are as follows:
The JK Rowling and the Richard Branson are the two successful entrepreneur under this and
they have innovative techniques which makes their business operations successful. The JK
Rowling is the first author who achieved net worth near about 1 billion for selling down Harry
Potter series of Books in the market and however Richard Branson is the CEO of virgin group
which is essentially a mobile and telecommunication company achieved net worth near about 4.6
billion. They both have different skills and mindset and on that basis they conducting their
operations and achieve down business performance in the market. They have special
characteristics which motivated them for learn down the process of creation and develop the
product by using it.
P6 Aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-set
Entrepreneurial personality reflect entrepreneurial motivation and mind-set.
Entrepreneur Personality :-Entrepreneur Personality is a combination of character and
quality that form individual different quality (Bird, 2015). Entrepreneur is personality reflect
totally different from others because there are some point are as follows......
11
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Extra vision :- Extra vision means that other business man or other leaders are not see
same thing that thing see by an entrepreneur. Because an entrepreneur is vision is totally
different from others entrepreneur can see idea converted into reality very fast rather than
other business man that's why now every one is an entrepreneur only few will be the
entrepreneur (Schlaegel and Koenig, 2014). SENSING :- An entrepreneur is a person see more correct than abstract this is a big
point. An entrepreneur is person focus on at present not future.....entrepreneur is a person
that focus on small thing not a big issues that's why entrepreneur is achieved growth very
fast rather than other. THINKING :- An entrepreneur is persons they should think first and then apply to
action. At the time of decision there are entrepreneurs should be focused on logic not
social factor (Mudalige, Ismail and Malek, 2016). Logic is more useful to solve big
problems. Social consideration is important but logic is more important factor.
PERCEPTION :- An entrepreneur is full depend on perception. A good entrepreneur is
judgement based on their perception. One of the most important decision is keep there
opinion open. A good entrepreneur is use perception it means what they think.
ENTREPRENEUR MIND SET AND MOTIVATION
A successful entrepreneur there to mind set to achieve success in new market....they
different mind set are as follows... Focus on customer first :- successful entrepreneur is first and for most focus on
customer first because all market and future market condition will be depend on customer
only. If a new entrepreneur is full fill all customer needs and wants then organization will
be earn more profit. Focus on customer is very important to solve the problem (Bruni,
Gherardi and Poggio, 2014). Customer is more important to increase market. Find a new market to an existing product:- Only good entrepreneur use this because to
research a complete market and find out what is the reasons to loss of that market is only
done by a good entrepreneur and same product from a new market is not an easy work,
entrepreneur is solved that situation.
12
same thing that thing see by an entrepreneur. Because an entrepreneur is vision is totally
different from others entrepreneur can see idea converted into reality very fast rather than
other business man that's why now every one is an entrepreneur only few will be the
entrepreneur (Schlaegel and Koenig, 2014). SENSING :- An entrepreneur is a person see more correct than abstract this is a big
point. An entrepreneur is person focus on at present not future.....entrepreneur is a person
that focus on small thing not a big issues that's why entrepreneur is achieved growth very
fast rather than other. THINKING :- An entrepreneur is persons they should think first and then apply to
action. At the time of decision there are entrepreneurs should be focused on logic not
social factor (Mudalige, Ismail and Malek, 2016). Logic is more useful to solve big
problems. Social consideration is important but logic is more important factor.
PERCEPTION :- An entrepreneur is full depend on perception. A good entrepreneur is
judgement based on their perception. One of the most important decision is keep there
opinion open. A good entrepreneur is use perception it means what they think.
ENTREPRENEUR MIND SET AND MOTIVATION
A successful entrepreneur there to mind set to achieve success in new market....they
different mind set are as follows... Focus on customer first :- successful entrepreneur is first and for most focus on
customer first because all market and future market condition will be depend on customer
only. If a new entrepreneur is full fill all customer needs and wants then organization will
be earn more profit. Focus on customer is very important to solve the problem (Bruni,
Gherardi and Poggio, 2014). Customer is more important to increase market. Find a new market to an existing product:- Only good entrepreneur use this because to
research a complete market and find out what is the reasons to loss of that market is only
done by a good entrepreneur and same product from a new market is not an easy work,
entrepreneur is solved that situation.
12
Use networking to build your business :- One of the most important is to build new or
more network to earn profit and growth in market (Dooley and Kenny, 2014). It is
necessary to increase level to customer and more and more market. Increase market is
good but use that networking to build there business that is only done by a good
entrepreneur.
Always maintain a quality control :- A good entrepreneur is always maintained the
quality of the product in the market. Because if quality decrease than customer will move
to next organization (Cherny and et.al., 2016). So maintain the quality is more important
each and every organisation.
Independent:It is considered to be those individuals who conducting out business operations
individually and will not depend on anyone and they set up their business on their ow and
perform their business operations accordingly.
Risk taken:It is the ability under individual to taken down risk and in course of small business
individuals using their ideas and thoughts in business conduct it accordingly. The venture come
with an ability to take down risk and earning returns on that risk.
TASK 4
P7 Background and experience can hinder or foster entrepreneurship
Owner of the entrepreneurship had to generate new ideas and use creativity to make the
business grow in the market. Entrepreneur of the business should have some skills to innovate
the business activities done. They should use their creative mind to make the profits for their
entrepreneurship firm and use them again in the betterment of business. So entrepreneur must
have these skills for the growth of their business. Background and experience of the entrepreneur
is important because they can hinder and foster the entrepreneurship.
Background of entrepreneur shows that how can and how will he handle the business of
entrepreneurship. Background of the entrepreneur should be good to handle the ups and down
that comes in the ways of business. Experience of the person increases with the time and the
problems he faced at the time of business activities. Many skills and mind creativity increased
with the amount of the work done by the entrepreneur. Entrepreneur with some experience
before starting of entrepreneurship then it will be very beneficial for him to manage the problems
that comes in the way of business activities (Entrepreneurs' skills, 2016). Entrepreneur should
13
more network to earn profit and growth in market (Dooley and Kenny, 2014). It is
necessary to increase level to customer and more and more market. Increase market is
good but use that networking to build there business that is only done by a good
entrepreneur.
Always maintain a quality control :- A good entrepreneur is always maintained the
quality of the product in the market. Because if quality decrease than customer will move
to next organization (Cherny and et.al., 2016). So maintain the quality is more important
each and every organisation.
Independent:It is considered to be those individuals who conducting out business operations
individually and will not depend on anyone and they set up their business on their ow and
perform their business operations accordingly.
Risk taken:It is the ability under individual to taken down risk and in course of small business
individuals using their ideas and thoughts in business conduct it accordingly. The venture come
with an ability to take down risk and earning returns on that risk.
TASK 4
P7 Background and experience can hinder or foster entrepreneurship
Owner of the entrepreneurship had to generate new ideas and use creativity to make the
business grow in the market. Entrepreneur of the business should have some skills to innovate
the business activities done. They should use their creative mind to make the profits for their
entrepreneurship firm and use them again in the betterment of business. So entrepreneur must
have these skills for the growth of their business. Background and experience of the entrepreneur
is important because they can hinder and foster the entrepreneurship.
Background of entrepreneur shows that how can and how will he handle the business of
entrepreneurship. Background of the entrepreneur should be good to handle the ups and down
that comes in the ways of business. Experience of the person increases with the time and the
problems he faced at the time of business activities. Many skills and mind creativity increased
with the amount of the work done by the entrepreneur. Entrepreneur with some experience
before starting of entrepreneurship then it will be very beneficial for him to manage the problems
that comes in the way of business activities (Entrepreneurs' skills, 2016). Entrepreneur should
13
have studied something related to the business or should have creative mind to handle different
situations that arises in the business. A person should consult to the experienced person for some
suggestions if he does not know how to handle that situation or if he is new in the field of
entrepreneurship. Various tools, techniques, skills of the person will be developed and their
potential will increase in the field of entrepreneurship which will also increase their confidence
to handle the situations that are faced by the business.
Bad background of the entrepreneur will decrease the capacity by he will not be able to
deal with the problems faced at the time of business. Entrepreneur should work on the gaining
the experience by developing skills and using creative and innovative from his mind to make
profits and his business grow in market of competitions because skills and creative mind of the
entrepreneur will be needed to fight his competitors in market. So it is cleared that background
and experience on the entrepreneur is needed to survive in the market (Fayolle and Liñán, 2014).
Bad background and non -experience of the person will lead to the hinder or foster in the
entrepreneurship. This states background and experience are very important for entrepreneur to
sustain in the market which is full of competitors. These two important factors are needed in
field of entrepreneurship, because lack of these qualities will lead to failure of the business and
can hinder or foster the entrepreneurship which will be not good for the growth of business and
entrepreneur.
CONCLUSION
It can conclude that in order to get success and profitability the entrepreneurial derives
the business risk in the market and performing the work according to that and give there possible
efforts and forming down various policies and strategies and implementing it into the business
activity to make the business activity successful. In this way the entrepreneurship can perform its
business activity and conduct its business operations effectively and efficiently. This report also
describes about various entrepreneurship regarding there role and there working area which is
different and they are establishing themselves to conduct its business which according to its size,
legal structure, system and ability to take risk. It also said that there are various kinds of
entrepreneur business and all are having different qualities to perform down work and there
qualities made them distinguished. Regarding that context it also said that the entrepreneurship is
having various kinds of abilities to make the business activity successful and they can prepare
14
situations that arises in the business. A person should consult to the experienced person for some
suggestions if he does not know how to handle that situation or if he is new in the field of
entrepreneurship. Various tools, techniques, skills of the person will be developed and their
potential will increase in the field of entrepreneurship which will also increase their confidence
to handle the situations that are faced by the business.
Bad background of the entrepreneur will decrease the capacity by he will not be able to
deal with the problems faced at the time of business. Entrepreneur should work on the gaining
the experience by developing skills and using creative and innovative from his mind to make
profits and his business grow in market of competitions because skills and creative mind of the
entrepreneur will be needed to fight his competitors in market. So it is cleared that background
and experience on the entrepreneur is needed to survive in the market (Fayolle and Liñán, 2014).
Bad background and non -experience of the person will lead to the hinder or foster in the
entrepreneurship. This states background and experience are very important for entrepreneur to
sustain in the market which is full of competitors. These two important factors are needed in
field of entrepreneurship, because lack of these qualities will lead to failure of the business and
can hinder or foster the entrepreneurship which will be not good for the growth of business and
entrepreneur.
CONCLUSION
It can conclude that in order to get success and profitability the entrepreneurial derives
the business risk in the market and performing the work according to that and give there possible
efforts and forming down various policies and strategies and implementing it into the business
activity to make the business activity successful. In this way the entrepreneurship can perform its
business activity and conduct its business operations effectively and efficiently. This report also
describes about various entrepreneurship regarding there role and there working area which is
different and they are establishing themselves to conduct its business which according to its size,
legal structure, system and ability to take risk. It also said that there are various kinds of
entrepreneur business and all are having different qualities to perform down work and there
qualities made them distinguished. Regarding that context it also said that the entrepreneurship is
having various kinds of abilities to make the business activity successful and they can prepare
14
Paraphrase This Document
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the plans and strategies accordingly to that and make their business activities effective. It also
describes about the social entrepreneurship and business organisations and take down the
decisions by considering out their customers and producing the goods and services accordingly
to meet out their requirements. The main objective is not to earn profit but to provide effective
services to its customers.
15
describes about the social entrepreneurship and business organisations and take down the
decisions by considering out their customers and producing the goods and services accordingly
to meet out their requirements. The main objective is not to earn profit but to provide effective
services to its customers.
15
REFERENCES
Books and Journals
Bae, T.J. and et.al., 2014. The relationship between entrepreneurship education and
entrepreneurial intentions: A meta‐analytic review. Entrepreneurship Theory and
Practice. 67(2). pp.217-254.
Baker, W.E., Grinstein, A. and Harmancioglu, N., 2015. The Role of Entrepreneurial Orientation
in Overcoming Known and Unknown Barriers to Entry in Foreign Markets. In
Proceedings of the 2010 Academy of Marketing Science (AMS) Annual Conference.
76(6). pp.96-97.
Bird, B., 2015. Entrepreneurial intentions research: A review and outlook. Internafional Review
of Entrepreneurship. 56(3). pp.143-168.
Bruni, A., Gherardi, S. and Poggio, B., 2014. Gender and entrepreneurship: An ethnographic
approach. Routledge.
Carland, J.C., Carland, J.W. and Stewart, W.H., 2015. Seeing what's not there: The enigma of
entrepreneurship. Journal of small business strategy. 6(1). pp.1-20.
Carraher, S.M. and Paridon, T.J., 2015. Entrepreneurship journal rankings across the discipline.
Journal of Small Business Strategy. 87(2). pp.89-98.
Castello, I., Barbera, D. and Vaara, E., 2016, January. Legitimizing Entrepreneurship Identities
through Failure Narratives. In Academy of Management Proceeding. 8(6). pp.15535.
Charness, A.N., 2014. The Role of Practice and Coaching in Entrepreneurial Skill Domains: An
International Comparison of LifeSpanChess Skill. The road to excellence: The
acquisition of expert performance in the arts and sciences, sports, and games. 89(5).
pp.90-99.
Cherny, V.V. And et.al., 2016. Tryptophan 207 is Crucial to the Unique Properties of the Human
Voltage Gated Proton Channel, hHv1. Biophysical Journal. 89(3). PP.601.
Dooley, L. and Kenny, B., 2014, January. Research Collaboration and Commercialization
Among Phd Students: The Role Of Entrepreneurial Capability And University Supports.
In ICSB World Conference Proceedings. 7(5). pp.16-90.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Books and Journals
Bae, T.J. and et.al., 2014. The relationship between entrepreneurship education and
entrepreneurial intentions: A meta‐analytic review. Entrepreneurship Theory and
Practice. 67(2). pp.217-254.
Baker, W.E., Grinstein, A. and Harmancioglu, N., 2015. The Role of Entrepreneurial Orientation
in Overcoming Known and Unknown Barriers to Entry in Foreign Markets. In
Proceedings of the 2010 Academy of Marketing Science (AMS) Annual Conference.
76(6). pp.96-97.
Bird, B., 2015. Entrepreneurial intentions research: A review and outlook. Internafional Review
of Entrepreneurship. 56(3). pp.143-168.
Bruni, A., Gherardi, S. and Poggio, B., 2014. Gender and entrepreneurship: An ethnographic
approach. Routledge.
Carland, J.C., Carland, J.W. and Stewart, W.H., 2015. Seeing what's not there: The enigma of
entrepreneurship. Journal of small business strategy. 6(1). pp.1-20.
Carraher, S.M. and Paridon, T.J., 2015. Entrepreneurship journal rankings across the discipline.
Journal of Small Business Strategy. 87(2). pp.89-98.
Castello, I., Barbera, D. and Vaara, E., 2016, January. Legitimizing Entrepreneurship Identities
through Failure Narratives. In Academy of Management Proceeding. 8(6). pp.15535.
Charness, A.N., 2014. The Role of Practice and Coaching in Entrepreneurial Skill Domains: An
International Comparison of LifeSpanChess Skill. The road to excellence: The
acquisition of expert performance in the arts and sciences, sports, and games. 89(5).
pp.90-99.
Cherny, V.V. And et.al., 2016. Tryptophan 207 is Crucial to the Unique Properties of the Human
Voltage Gated Proton Channel, hHv1. Biophysical Journal. 89(3). PP.601.
Dooley, L. and Kenny, B., 2014, January. Research Collaboration and Commercialization
Among Phd Students: The Role Of Entrepreneurial Capability And University Supports.
In ICSB World Conference Proceedings. 7(5). pp.16-90.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on entrepreneurial
attitudes and intention: Hysteresis and persistence. Journal of Small Business
Management. 67(1). pp.75-93.
Fayolle, A. and Liñán, F., 2014. The future of research on entrepreneurial intentions. Journal of
Business Research. 5(5). pp.663-666.
Hmieleski, K.M., Carr, J.C. and Baron, R.A., 2015. Integrating discovery and creation
perspectives of entrepreneurial action: the relative roles of founding CEO human capital,
social capital, and psychological capital in contexts of risk versus uncertainty. Strategic
Entrepreneurship Journal. 45(4). pp.289-312.
Mudalige, D., Ismail, N.A. and Malek, M.A., 2016. Exploratory Study on Relationship between
Entrepreneur Characteristics and Dynamic Capabilities in Export SMES. Paradigm.
78(2). pp.113-130.
Schlaegel, C. and Koenig, M., 2014. Determinants of entrepreneurial intent: a meta‐analytic test
and integration of competing models. Entrepreneurship Theory and Practice. 5(2).
pp.291-332.
Zhang, X.M., Song, Z.L. and Zhong, Z., 2016. Does “small bank advantage” really exist?
Evidence from China. International Review of Economics & Finance. 8(7). pp.368-384.
Online
Entrepreneurs' skills. 2016. [Online]. Available through:
<http://skillspanorama.cedefop.europa.eu/sites/default/files/EUSP_AH_Entrepreneurial
_0.pdf>.
17
attitudes and intention: Hysteresis and persistence. Journal of Small Business
Management. 67(1). pp.75-93.
Fayolle, A. and Liñán, F., 2014. The future of research on entrepreneurial intentions. Journal of
Business Research. 5(5). pp.663-666.
Hmieleski, K.M., Carr, J.C. and Baron, R.A., 2015. Integrating discovery and creation
perspectives of entrepreneurial action: the relative roles of founding CEO human capital,
social capital, and psychological capital in contexts of risk versus uncertainty. Strategic
Entrepreneurship Journal. 45(4). pp.289-312.
Mudalige, D., Ismail, N.A. and Malek, M.A., 2016. Exploratory Study on Relationship between
Entrepreneur Characteristics and Dynamic Capabilities in Export SMES. Paradigm.
78(2). pp.113-130.
Schlaegel, C. and Koenig, M., 2014. Determinants of entrepreneurial intent: a meta‐analytic test
and integration of competing models. Entrepreneurship Theory and Practice. 5(2).
pp.291-332.
Zhang, X.M., Song, Z.L. and Zhong, Z., 2016. Does “small bank advantage” really exist?
Evidence from China. International Review of Economics & Finance. 8(7). pp.368-384.
Online
Entrepreneurs' skills. 2016. [Online]. Available through:
<http://skillspanorama.cedefop.europa.eu/sites/default/files/EUSP_AH_Entrepreneurial
_0.pdf>.
17
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