Entrepreneurship and Small Business Management

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Entrepreneurship
and small business
management

Table of Content
 Introduction
 Characteristic traits and skills of successful entrepreneurs
 Entrepreneurial personality reflect motivation and mindset
 Background and experience can hinder or foster
entrepreneurship
 Conclusion
 References

Introduction
An entrepreneur is a business person who individually bears all the
risks which may arise during the course of business. Any
financial profits or rewards are borne by the owner of the
company which can be further distributed among the
shareholders as per their percentage of holding in the
organisation.

Characteristic traits and skills of
successful entrepreneurs:
Successful entrepreneurs are
those who have marked their
place in the economy by their
prosperous actions and deeds.
For this report, two business
person are taken which are
British entrepreneurs namely
Victoria Beckham and Sir
Richard Charles Nicholas
Branson.

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Characteristics:
 Open-mindedness
 Professionalism
Traits:
 Determination
 Decision-making
Skills
 Time-management
 Creativity

Entrepreneurial personality reflect
motivation and mindset:
Under this, Big 5 Trait model is applied which is also known as
OCEAN, is a hierarchy for different personality traits like
openness, conscientiousness, extraversion, agreeableness,
neuroticism.

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5 Big trait model:
 Openness
 Conscientiousness
 Extraversion
 Agreeableness
 Neuroticism

Background and experience can hinder
or foster entrepreneurship
The entrepreneur i.e. Victoria Beckham was born at the Princess
Alexandra Hospital in Harlow, UK. And is the eldest sibling
among her family. She decided to pursue a career in music
after watching the musical film Fame in 1980 & studied dance
and modelling at Jason Theatre School in 1991.

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The experience and background of successful entrepreneurs can
positively impact them can foster them by spreading
awareness about relevant field among different age groups of
people and opening up more opportunities for them so that
they can reach greater heights. Also, it can help Sir Richard
Branson and Victoria Beckham into accepting the sense of
failure with the attitude of never giving up.

Conclusion
From the above report, it can be concluded that for an
entrepreneur to be successful in his work and attain a
respectable position in the society, the person should possess
various entrepreneurial characteristics, traits and skills.

References
Allen, S. and Truman, C., 2016. Women in business:
Perspectives on women entrepreneurs. Routledge.
Ateljevic, J. and Page, S. J. eds., 2017. Tourism and
entrepreneurship. Routledge.
Burns, P. and Dewhurst, J. eds., 2016. Small business and
entrepreneurship. Macmillan International Higher
Education.

THANK YOU