Entrepreneurship and Small Business Management

This presentation explores the examples of entrepreneurs, local, global, and social entrepreneurs. It discusses situational factors, similarities, and differences between them. It also delves into entrepreneurial traits and characteristics and how they are related to entrepreneurship. Additionally, it examines how the background and experiences of entrepreneurs can hinder or foster entrepreneurship. Finally, it compares and contrasts different entrepreneurs based on their background and experiences.

ENTREPRENEURSHIP AND SMALL
BUSINESS MANAGEMENT

TABLE OF CONTENT
• Introduction
• Examples of entrepreneurs, local, global and social entrepreneur
• Exploration of situational factors, similarities and differences
• Entrepreneurial traits and characteristics along with the ways through which they are related to entrepreneurial
characteristics
• The ways through which the background and experiences of entrepreneur that can hinder or foster
entrepreneurship
• Comparison and contrasting the different entrepreneur in context of their background and experiences
• CONCLUSION
• References

INTRODUCTION
• Entrepreneur has special characteristic to start and run businesses
successfully through delivering qualitative products and services
to customers for satisfaction of their wants.
• Moreover, local, global and social entrepreneur have different
characteristics that helped in achieving their respective
objectives.
• So, this presentation has included crucial information related to
examples of entrepreneurs, local, global and social entrepreneur.
At the same time it has consisted of situational factor in terms of
similarities and difference between them.

EXAMPLES OF ENTREPRENEURS, LOCAL, GLOBAL AND SOCIAL
ENTREPRENEUR
• Entrepreneurship is process of bringing innovation in the society through reallocating the resources in
order to make the best use of available opportunities. These are individuals that are highly ambitious,
determined and hard-working towards their work. Therefore, different types of entrepreneur can be
explained in detailed as follows:
• Local entrepreneur: These are entrepreneur that show great potential for economic development
strategy that are useful for rural communities. Local entrepreneur have main motivate to provide
necessary goods and services to customers so that their basic requirements can be fulfilled, and they
can be part of organization. For example: Laurence Graff is local entrepreneur and English Jeweller
that has founded Graff Diamond when he was at the age of 22 that has effectively operated the
business operation.

CONT.
• GLOBAL ENTREPRENEUR: On the other hand global entrepreneur are individual that have
capabilities to undertake high amount of risk, promote innovative and creative ideas that could be
used by firm to gain competitive advantages.
• SOCIAL ENTREPRENEUR: While, it can be stated that social entrepreneur that have
motivated to provide social services to people rather than earning high profit margin.

EXPLORATION OF SITUATIONAL FACTORS, SIMILARITIES AND DIFFERENCES
• Similarities that exist between the three successful entrepreneur that is
Laurence Graff, Jeffrey Hollender and Bill gates is that all are highly
determined and ambitious about their respective goals. They have more
innovative and creative skills, decision-making and problem solving abilities
that has helped them in promoting smooth operation of business in external
environment. Moreover, their different skills, capabilities has contributed in
achieving the end goals of firm.
• On the other hand it can be stated that Bill gates, Laurence Graff, Jeffrey
Hollender are different from each others in terms of their background,
education and characteristic or thinking, Such as Bill gates have strong vision
that has helped him in starting new business and taking appropriate steps to
grow and expand businesses in external environment.

ENTREPRENEURIAL TRAITS AND CHARACTERISTICS ALONG WITH THE WAYS
THROUGH WHICH THEY ARE RELATED TO ENTREPRENEURIAL
CHARACTERISTICS
• CREATIVE AND INNOVATIVE SKILLS : Laurence Graff is one of the jeweller who
started their business with innovative ideas of creating unique diamond rings. With the
power of its creativity he created various incomparable jewellery in order to satisfy their
customers.
• RISK TAKING ABILITY: Bill Gates is one of the global entrepreneur that have most
effective and creative abilities that helps them in order to find new and innovative methods
that could be utilised by an entrepreneur while start their business activities within the
market place and run them in most appropriate and successful manner.
• Decision making skills: Jeffrey Hollender is one of the social cause worker and
businessman dealing in production of natural products. The entrepreneur also have certain
skills that will help them always in order to take effectual decisions at the time of critical
situation within the work space.

THE WAYS THROUGH WHICH THE BACKGROUND AND EXPERIENCES OF
ENTREPRENEUR THAT CAN HINDER OR FOSTER ENTREPRENEURSHIP
• BILL GATES have certain abilities, skills and talent which consists of being
focused towards their goals, taking practical approaches towards the
problems with setting measurable objectives, high amount of innovation and
creativity into ideas along with his passionate behaviour enhances their
experiences in the field of entrepreneurship. Their high risk tolerance and
stubbornness to pursue their passion has made him successful in their life
irrespective of his education.
• Another entrepreneur is LAURENCE GRAFF who is a famous diamond
merchant business person and famous supplier of jewellery and jewels in the
market of UK. From very early stage, he was well aware about their goals for
life and tries their maximum in order to fulfil them. He is of daring quality
people and huge amount of confidence and unshakable belief in himself
make him extremely successful in the local market of UK.

COMPARISON AND CONTRASTING THE DIFFERENT ENTREPRENEUR IN
CONTEXT OF THEIR BACKGROUND AND EXPERIENCES
• From the above evaluation it has been stated that different
entrepreneurs have their own individual background and experiences
in their life through which they try to run their business activities in
most effective and fruitful manner.
• Irrespective of their educational background, all of them are
successful in their own terms while conducting their business into
most hard hitting manner.
• Bill Gates, Laurence Graff and Jeffrey Hollender all are the drop-
outs and it has been identified that if they take proper professional
education regarding the management, then they are extremely able to
run their business activities in furthermore befitting ways.

CONCLUSION
• From the above presentation it has been concluded that there are various kinds of entrepreneur
ventures which contribute their part within the society according to their individual roles and
actions.
• Moreover, it has been analysed that entrepreneurs acts differently at various different situations
or level of organizations with the help of their abilities, skills and knowledge through which they
act accordingly.
• The characteristics and traits of different entrepreneurs have been explained in detailed manner
within this report.

REFERENCES
• Coker, K. K., Flight, R. L. and Valle, K. N., 2017. Social entrepreneurship: the role of national leadership
culture. Journal of Research in Marketing and Entrepreneurship.
• Bird, B., 2019. Toward a theory of entrepreneurial competency. In Seminal Ideas for the Next Twenty-Five Years
of Advances. Emerald Publishing Limited.
• Demirtas, O., Karaca, M. and Ozdemir, A. H., 2017. The influence of personality traits on entrepreneurial
intention. International Journal of Management and Sustainability, 6(2). pp.33-46.
• Henao-Zapata, D. and Peiró, J. M., 2018. The importance of empowerment in entrepreneurship. In Inside the
Mind of the Entrepreneur (pp. 185-206). Springer, Cham.
• Kusumawijaya, I .K., 2018, October. Personality traits: The mediating role of self efficacy to improve
entrepreneurial intention. In 1st International Conference on Social Sciences