Entrepreneurship and Small Business Management

This presentation explores the characteristics and skills of successful entrepreneurs, aspects of the entrepreneurial personality, and how background and experience can hinder or foster entrepreneurship. It provides valuable insights for individuals interested in starting their own business ventures. Find study material and solved assignments on entrepreneurship and small business management at Desklib.

Name – Liliana Boitor

Entrepreneurship and small business
management

Table of ContentTable of Content
 Introduction
 Characteristic and skills of successful entrepreneurs
 Aspects of the entrepreneurial personality
 Background and experience can hinder or foster entrepreneurship
 Conclusion
 References

Introduction
Entrepreneurship is the capacity and willingness to develop, organize
and manage a business venture along with any kind of risk in order to
make more profits. The people who create new businesses are called
entrepreneurs. Entrepreneur are those people who have skills and
initiative to make current and future needs and bring new ideas to
market

Characteristic and skills of
successful entrepreneurs
Characteristics is defined as feature or qualities of person that belong
and make recognizable to them. Similarly, skills are capabilities of
individual for performing any work in an organisation. Both are
different from person to person.

Cont....
The characteristics and skills of successful entrepreneurs that
differentiate from other business manager are described below:
Characteristics of Warren Buffett:
 Realistic
 Knowledge
Skills of Warren Buffett
 Leadership Skills
 Managerial Skills

Cont....
Characteristics of Steve Jobs:
 Innovative
 Strong and Clear Vision
Skills of Steve Jobs:
 Team Building Skills
 Communication Skills

Motivational drivers
The motivational drivers of both entrepreneur is to encourage them for
doing effective business operations and functions in better manner.
They are use their skills and knowledge in order to gain profit and
income effectively.

Cont....
Common myths of an entrepreneur-
 Achievement oriented – An entrepreneur is an activity
oriented person that can take major advantage for completing
all tasks of red bridge to accomplish all tasks .
 Persuasive- An entrepreneur have a persuasive behaviour so
that he /she analyse all risk in red bridge.
 Creative- Entrepreneurs have create more creative ideas that
can analyse each and every risk of people in red bridge.

Aspects of the entrepreneurial
personality
The entrepreneurial personality reflect entrepreneurial motivation and
mindset which can be explained with OCEAN Model given below:
 Openness
 Conscientiousness
 Extraversion/Introversion
 Agreeableness
 Natural Reactions

Background and experience can
hinder or foster entrepreneurship
The background and experience which can hinder or foster
entrepreneurship are as follows:
 Lifestyle
 Family
 Education

Lifestyle
It is the interest, behaviours, opinions and orientations of individual,
group and culture. It depicts way of life, attitudes of person living
in society. The children can learn many things from their way of
living in family. The rich people have high lifestyle whereas poor
have low.

Family
Family is the group of people living together in a single house. It
really affect the growth of child and change their thinking. What
child see in their family will do in future. It is very necessary to
provide good environment to the children to make future bright.

Education
It is process of learning, acquiring knowledge, values, skills, beliefs,
and habits. It includes discussion, training, teaching and directed
research. This really effect individual and their life. It teaches
person to become capable enough to achieve their goal of life.

Environment
It should be pleasant and good for entrepreneur which help them in
motivate towards work and gaining high profitability and income.
An entrepreneur family background is good so that they are feel
encouraged towards start their own business operations.

Mind set
The mind set is all about thinking of an entrepreneur. It is an inherent
need to improve their skills and knowledge and work for gaining
set goals and targets. They are set their mind regarding beginning
and establishing business in which field where they are interested
more.

Conclusion
From above report it has been concludes that in modern world people
no longer expect large enterprises to make them guarantee to fit that
job. Individuals are increasingly expected to create new business
opportunities and add values and behave ethically to follow all rules
and regulations in firm. An entrepreneur is a person who can create
new venture for SMEs that can be represented by showing different
percentage of firms and made a difference and similarities between
different entrepreneurial ventures.

References
 Brustbauer, J., 2016. Enterprise risk management in SMEs:
Towards a structural model. International Small Business
Journal. 34(1). pp.70-85.
 Saleem, M.A., 2017. The impact of socio-economic factors on
small business success. Geografia-Malaysian Journal of
Society and Space. 8(1).

Thank You