Contents INTRODUCTION....................................................................................................................4 LO1............................................................................................................................................4 Covered in brochure...............................................................................................................4 LO3............................................................................................................................................4 P5.Elaboratethecharacteristicstraitsandskillsofsuccessfulentrepreneursthat differentiate them for other business managers......................................................................4 P6.AspectsOfEntrepreneurialPersonalityReflectEntrepreneurialMotivationAnd Mindset...................................................................................................................................7 M3. Identify the Significance lines of arguments relating to entrepreneurial characteristics8 D3.Criticallyevaluatethecharacteristicstraits,skillsandmotivationaldriversof successful entrepreneurs.........................................................................................................9 LO4............................................................................................................................................9 P7.Impact of background and experience on entrepreneurship..............................................9 M4. Describe the link between entrepreneurial characteristics and the influence of personal background and experience..................................................................................................10 D4. Detailed analyzation ofinfluences of background and experience on entrepreneurs. . .10 CONCLUSION.......................................................................................................................11 REFERENCES.......................................................................................................................12
INTRODUCTION Entrepreneurship is formally associated with a procedure that involve a process of creating a new enterprise through grabbing or exploiting a new business idea and opportunity. On the other handentrepreneur is the person or individual that is having all the responsibility associated with managing and controlling business affair of that new enterprise together with bearing all risk and making efforts for maximization of profit. The new business start-ups and small and medium enterprises plays an important role in growth and success of economy of nation through creating more job opportunity and leading better innovations for society (Julien ed., 2018). Therefore, to organised the start ups and other ventures which are directly link with ownership business firms where there is reflect by owning of own company and seeking for investors to raised the financial stability as well as goodwill. This entrepreneur report is based on the Aldgate Angels firms which are regulated financial activity where they procure and provides the monetary help as to making the small and big entrepreneur ship company financial stability as well as their loyalty, as it basically offered the investors from United Kingdom but there is risk or barrier of Brexit market on which it behalf of the entrepreneur could not able to raise funds from outsiders like from other international countries (Anggadwita and et. al., 2017). LO1. P1. Discuss the different types of entrepreneurial ventures and typology to the relates with entrepreneurial aspects. As there are significance types of entrepreneurial organisation that frequently some sort of companies emphasis towards the generating the opportunity for employees as they allows the creativity and new inventing ideas in virtue of growing economic and social value. In a larger form of entrepreneurship firms are economy based background as it follows: Entrepreneurship– This is the sequence of dreaming, planning, launching and managing a new company or corporation is called entrepreneurship. In order to manage and maximize corporate efficiency, various forms of entrepreneurial practice are utilized for company issues. Small business entrepreneurship– This means a business is operating at small area and level with the help of limited resources and capital in limited geographical area. This is
started by local people by creating opportunity and developing an organisation at smaller areas. Large company entrepreneurship:This form of organisation is basically constructed in high capitalised structure where the investors are actively participate for investing the money on it, as they have better financial support to operate and monitored the larger level of economy based structure. They having the lager fond of expansion of business brand values to creating the targets to reaching up the objectives with the motive of maximisation of profits. Social Entrepreneurship- The business which are relatedwith the social welfareor contributing the social activities that devoted towards the development of society . The main agenda of social entrepreneurship is to provided the equality and diversity in the society by supporting and helping to economicallysection and other vulnerable group. The financial requirement of social entrepreneurship is fulfilled by their members in form of donation and charity to help the derived section of society. Scalable Start- up Entrepreneurship: This structure ofbusiness start up is generallyit focuses into creativity in business or in another words it allows the modification of new business concept which provides some positive outcomes for the society, where the optimum funds or strong financial stability required with market exposure that it helps to enhanced the knowledge and other type of innovation to brings the profitability in the organisation. Different Types of Typology of entrepreneurship A Typology is thefacilitates a particular group whose having a similar traits and features. As through it simplifies the entrepreneurship criteria into significant typology on the behalf of some similar qualities or behaviour which having some common factor. The following consists different types of Typology entrepreneurship are as follows: Male Entrepreneurship:The features of male business promoters are basically own creator of the ventures where they usually brings the financial activities to invest in their capital in terms of investors and unique innovation as they are high competencies on which they get scrutinized their performances and high risk taker. Female Entrepreneurship:As they are usually quite handle the managerial aspects like human resources activities but as in term of entrepreneurship the basic factor to monitored and implementing the financial investment as per the better and flexible manner. They having
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the excellence form up of soft skills such as better communication, creativity and good sense of convincing power which makes blows the mind of investors. P2. Discuss the significance of similarities of the two entrepreneurial ventures. By having a distinct factorization of the entrepreurship between social, large and small as well as male or female entrepreurship which are generally seeking the professional rules and regulation about to gaining the business exposure through various form of segments. The role of employees performance plays an important to making consideration about the quality of entrepreneurship that helps to encourage the maximisation of profits. As per the drafting of the differentiate between entrepreurship firm that given below: BasisSmall Business EntrepreneurshipLarge company Entrepreneurship Operation levelThe description of organisation are generally to monitored or mange the less amount of capitalism venture which having a small investment criteria where not much enhancement of work requirement with less workforce. This type of ventures are having a effective goodwill in the market as in context of products performances in market, profit, credibility, with high structure of capitalism as well as efficient workforce to handle the big venture business performance. ObjectiveThemainobjectiveofsmall business is to attain the day to day targetsinwhichemployees contributesthelowamountof resourcesaspertheamount capabilities and procure to maintain the standard of living. By presence of optimum desirable objectives and aims of large venture business where they have expected on to achieve the high amount of profitabilityandmaximisationin profit through performances in the market. Geographical area served A Small business contins a limited geographicalareainwhichthey servedintodomesticandlocal countries where the profit margin is lessandproductivityisnotto appropriate. Theareawhichservedbylarge business venture is too national and international countries as per their networking terms are depending o the market development.
Numberof employees. In small business entrepreneurship arethosegeneratestheless capabilityofemploymentwhich provides the low amount of salary buttomotivateforbigtermsof targets in which the productivity and employeesworkinginthese organisationarearound150-200. ForexampleinUnitedKingdom there is small business which having quitebettergoodwillbutno employeesarelessduetolow capitalism. In large business entrepreneurship are also generates the employment inwhichtheyfocusestohire efficientandskilledenough workforce who can contributes in organisationandincreasesthe productivity as for individual and company welfare. It majorly keeps the maintaining of workforce around 500-1000suchascompanieslike Bentley and Starbucks are the most efficientbusinesswherethe productivity are excellence as well as the workforce are highly active andgoodamountofworkerare enhance to work. LO 2. P3. Interpretation of the data accessibility that comprised the relevant by using the statistics of entrepreurship. To having a distinctive role and particular significance of small ventures as well as the domestic economic that supports to allows the bigger growth towards the community for making the constructive deployment of business venture are depends on it. To opening a platform for the economic growth where it is link between employee opportunities and organisation growth which is having a requirement towards the big corporation.As the following importance and role are given below: Formation of Senseful Job role:On the matter of economic factor the more investment creates thejob opportunities where many start ups and new companies launch their venture whereentrepreneurships are generating the employment opportunities which really serves towards the society and eliminating the discrimination and errors which are prevails the
unwanted restriction through which an individual could not able to adopt the new role of Job to attaining the objectives. The Small companies hire workforce but provides them low wages as per their profit margin is less than big companies as well as they allows moderate qualification of candidate to easily hire but they are not that much proficient or not having effective skills and knowledges to deliverables the optimum performances. Integral part of economic domestic:By the small business firms are the major part of the domestic economic as the financial supports to the factor of independence as on economic aspects in terms of further development making the better infrastructure which helps to increase the internal and external improvisation of values or to making enhance the promotes of competencies workforce devotion towards the business activities. P4. Briefly explain about the important description of small business and start up company By having the significance of small business and new ventures like start ups for preparing the growth of economic as per the better understanding through following points: Sharing ideas towards the innovation:With the perspective of small firms they have necessity of more investment or ideas to making the new creativity that will bring the upgradation as small companieshave low opportunitiesof financial supports and the communicating about the contribution is much less than larger companies business because they have low profit margin and their productivity is diminishes toward the economic point of view but the innovation is very effective enough of small business and start ups where they keen to introduce eth ideas and creativity to investors and other big business entrepreneurs by that they can invest the money as per the suitability. Appraised the productivity towards proficient employees:As per the chances f new companies and start ups ventures they allows to promotes the new opportunities on which efficientand skilledworker can elaboratethe productivityof those workforce whose performances brings the favourable outcomes and facilitating and more creativity way of production, as per these factor of enhancement of productivity through job opportunity where it can reduces or decreases amount of poverty and inequalities from the societythat suffers form less growth. Promotes the power of purchasing:The products which are manufactured as it involves many cost incurred in term so raw material consumed and enabled in the market with good amount of quality product but the product are not having the selling factor where the
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consumer are not buying because of the price issues, on that note small companies and other new firm allows the same products manufactured as in low cost introduce in the market where the domestic people can easily purchase the product to fulfil the requirement. LO3. P5. Elaborate the characteristics traits and skills of successful entrepreneurs that differentiate them for other business managers. A efficient and successful entrepreneur is having only a vision and mission to accomplish the business oriented target where they actual perform in the platform where the investor or can say that sources of funds acquire through convincing the business objectives as well as the start ups are one of the trending act of business through the success of that owner and manager become an entrepreneur as their field. As with the context of Aldgate Angels firm having the traits and characteristics which helps to enhance the entrepreneurs to success into their objectives as their decision making is very strong and effective smart that create a difference between in entrepreneurs and managers. As below there are two entrepreneurs where it shows the reflection of traits and innovation as well as characteristics with skills involved: Peter David Jones: Peter jones is a British entrepreneur and businessman and also being television personality with interest in mobile phones with lesire retail products as he is last remaining owner of investors company as well as of show Dragons Den where he promotes nay channels through endorsing the products. Traits:ď‚·Innovation:As it consider the most compulsive trait which includes in entrepreneur as it help to enhance and promote to think about the vision and making effective decision making power among the customer requirement. As the Peter David Jones having a innovation of framing about the endorsing and promoting the television channels as he is personality of digital media (Mehmood, and et. al., 2019).ď‚·Feedback acceptance:As the Peter David Jones is the pre determined personality of accepting the failure and try to improvised the factor on which the gap is arises.
Characteristicsď‚·Problem solving:Peter David Jones having a decision making factor to which he consult with his peers of company respective to resolve or overcame form the problem from any situation by evaluating the whole situation effectively and taking corrective actions. ď‚·Leadershipquality:theleadershipcharacteristiccanbepositivefactor personality specially for business identity to leading the team and workforce of the business venture Peter David Jones is having making the workforce stable and flexible by believing the in managerial aspects. Skillsď‚·Enhancing the confidence in right time:By using of confidence in right time to achieving something as well as it comes to use in presentation and delivering something in front of people it barely requires, as Peter Jones is the Television personality so he basically famous as for his presence and way of presenting the things in better way where people get attracted. ď‚·Having communication skills:While performing in digital world Peter joes is having a excellence communication skills through which it making focus to the audience to listen the speaker as in business point of view is also a better having a communication can create effect towards workforce productivity in the working aspects. Hayden Wood:- Hayden is a co-founder and CEO of Bulb which is one among the fastest growing energy supplier that provide most affordable, renewable energy to around one million members. Before becoming a entrepreneur, he studied economics at LSE and after that worked as a management consultant. Trait ď‚·Innovation:Innovation is consider to be most crucial trait within an entrepreneur as it help them in offering something unique that can fulfill the customers' requirement. Hayden Wood has identified the issues that people are facing and then develop an innovative plan to set up a business efficient in providing renewable energy to save costof people along with providing them a backup option for electricity need(Acs,
Szerb and Autio, 2017). This idea has consider most innovative and helpful for the industry. ď‚·Feedback taking approach:The most influential trait of Hayden Wood is that he is more focused toward taking regular based feedback from its employees as well as customers so that regular improvement can be possible along with changes in market. Characteristics ď‚·Problem solving:Hayden Wood maintains a strong access to solved the existing organizational issues in effective manner. The Hayden Wood mainly focuses toward resolving the each and every problem in timely manner by evaluating the whole situation effectively and taking corrective actions(Turner and Gianiodis, 2018). ď‚·Team Player:It is most crucial characteristics that help an entrepreneur in executing business operations effectively by getting a support of its employees .Hayden Wood shares good relation with its staff and always provide them opportunity to perform wellbysupportingthem.Thissupportedtheminachievingtheirobjectives effectively. Skillď‚·Effective communication:Hayden Wood make use of its communication skills in order to interact with several energy businesses of UK in order to gain insight about the business as well as issues faced by companies and consumers in this regard. This support him in forming up a successful business plan and good command over communicationsupportininfluencingemployeestoperformwell(Chenand Thompson, 2016).ď‚·Strong motivator:Hayden Wood mainly believes in keeping its employees motivated by appreciating them or providing additional monetary benefits at continuous basis. The main aim behind this is to motivate employeestoward the attainmentof organizational goals by putting efforts toward them and interacting for gaining insight on their situation . Therefore the difference between entrepreneur and managers of business is highlighted below: BasisSuccessful EntrepreneursBusiness Managers FocusThe focus of entrepreneur is on towardsThebusinessmanagerisfocusto
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the goals and objectives of business for makingitsuccessfulasitcrackthe business aspects and function to trading in the market. directedbusinessanditsworkforce into handle to other responsible aspect of business. MotivationEntrepreneurmotivatestheirpeers throughtheprovidingthebusiness oriented vision. Business manager mainly determines towardsthemotivatingemployees towards . P6. Aspects Of Entrepreneurial Personality Reflect Entrepreneurial Motivation And Mindset. Personality of a person reveal very much about them as it help in forming up their psychologythatfurtherformthesetofdecisiontheytakenintoconsideration.The psychologist state that there are five dimensions over which a personality of an individual reflect through ocean of personality is reflected through the point of entrepreneur are: Openness:This is one of the traits which represent the individual personality of trait which defines the presence of mind activeness towards the positive factor by which it helps to makes understand about gaining of learning in new knowledges in terms of business exposure as well as the sense of achievement (Amrita, Garg and Singh, 2018). Consciouness :A personality like Peter jones and Hayden woods they make their stands for their goals and objectives towards the achieving the sort ofbusiness reaches where it focuses to motivate the employees towards the achievement oriented. Extraversion:This personality traits facilitates about the person interaction with social involvement, extrovert in public. By implements with all shades company have reforms the workforce effectiveness where the mangers get trained them to being the interactive and social welfare towards the organisation. Agreeableness:It emphasis about the entrepreneur trust, affection with the kindness through support which entrepreneur which leads towards the workforce effectively in friendly nature environment where they coordinate effective trust blood with each other as Peter Jones and Hayden woods within their organisation premises.
As he is a CEO of Dragons Dens firms as a British entrepreneur businessman and Television personality with interests in electronic gadgets like mobile phones, leisure retail property and retail as well as he is a American inventor series in digital platform(Singh and Gaur, 2018). Background:Peter Jones lives in South Buckinghamshire with his partner Tara and three children, Jones grew up in Maidenhead and attended Desborough School and subsequently. Experience:He was appointed Commander of the order of the British Empire, in his Mid twenties he opened a bar which name was cocktail Windsor based on the Tom Cruise Film Cocktail. The life experiences are that he had founded other business between 2008 that was related retailer wine shops which online selling of win bottles availability in through network. Hayden wood He is a co-founder and CEO of Bulb which is among one of the fastest growing energy supplier of UK that provide most affordable, renewable energy to around one million members. Background-Hayden woodwas living in UK, London and have completed his BSc from the London school of Economies and political science during 2002 – 2005. Experience-The life experience of Hayden wood includes hisstudy in economics at LSE and he also spent 10 years as a management consultant in Monitor Group and then in Bain&Company prior to founding his own company Bulb. The life experience of Hayden wood has played a crucial role in becoming a successful entrepreneur as during his job in Monitor group and Bain company he noticed many poor services, expensive tariffs, inefficiency and environmental harm created by industry. Thus, Hayden wood get a positive direction from his life experience to form a company that is leading better change in energy sector through better use of energy(Acs, Szerb and Autio, 2017). M4. Describe the link between entrepreneurial characteristics and the influence of personal background and experience. Asperthebackgroundofentrepreneurialtraits,skillsandproblemsolving characteristics of Peter David Jones entrepreneur and Hayden Woods business man they have
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focused into their vision to being as a entrepreneur with proper utilisation of traits and skills which helps them to improvised their personality as well as they have created benchmark at in their business filed, although they have different background and they have created their own destiny in digital platform. D4. Detailed analyzation ofinfluences of background and experience on entrepreneurs Hayden woodPeter David Jones While consulting with a UK energy supplier, Hayden become aware about the inefficiency that energy companies have as well aslack of renewable options of UK consumers. From this he get motivated and apply his experience to set up this company withhis friend and not it is helping around one million houses to save moneyovertheirbillsandreducecarbon emission. As Peter Jones is basically belong from United Kingdom and he was working in retail wine shop on which he used to operate and selling the wines through online platform, after of few experiences he joined in studio and formed his own ventureDragon Den nameashe was appear in Television channel as well as his experience counted as invented one American show as well as he promotes many digital platform channel at all over the world. CONCLUSION As per the above discussion on report that entrepreneurship is a cycle in which people think creatively, start new ideas and manage a company properly. There are various types of projects, such as mini, micro, mega, social and scalable, which are used for different reasons and are effective by affecting consumers. As well as the micro small business and large business having their influence power among their customer where small entrepreneurship having a low impact but they generates more employment where the large entrepreneurship are more focusing to investment cum charity and donation to the Non government institution where they can retain the clients. The discussion on some of the entrepreneur having their personality traits which enhanced them to work and motivate eth employees in the workplace premises to generates the productivity as well as growth of company. At last entrepreneur has
its own self motivation as well as they try to encourage to their staffs and continuing with their objectives of accomplish it.
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