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Entrepreneurship and Small Business Management – Assignment

   

Added on  2021-02-21

9 Pages2298 Words110 Views
Entrepreneurshipand Small BusinessManagement
Entrepreneurship and Small Business Management – Assignment_1
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1ACTIVITY 2....................................................................................................................................1P5. Determine the characteristics traits and skills of successful entrepreneurs that differentiatethem from other business managers............................................................................................1P6. Assess how aspects of the entrepreneurial personality reflects entrepreneurial motivationand mindset.................................................................................................................................3P7. Background and experience of entrepreneur that can hinder or foster entrepreneurship.....4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
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INTRODUCTIONEntrepreneurship can be define as introducing new and innovative business concept byoffering product and services in market (Ackermann, 2012). This can be consider as a processthrough which an individual design and run new business in market. Entrepreneur is a personwho is owner of business and responsible for carrying out business and its activities. This personwill bear most of risk and loss by its business and can enjoy most of the profits also. This reportconsist study of different entrepreneurial ventures and their relationship with typologies. It alsoincludes impact of small business on economy and importance of start up in growth of economy.Analysis ofdifferent characteristics and traits of of successful entrepreneurs and their personalityreflects entrepreneurial motivation and mindset. It will also determine background andexperience of entrepreneur which can leads to hinder or foster entrepreneurship. ACTIVITY 1(Covered in Booklet)ACTIVITY 2P5. Determine the characteristics traits and skills of successful entrepreneurs that differentiatethem from other business managers.Characteristic traits are basically qualities which define an individual. Every person hasgood or bad characteristics. To be a successful entrepreneur an individual should posses rightbusiness skills such as adaptability,innovative, risk taker and so on (Henrekson and Sanandaji,2014). These kinds of skills helps an entrepreneur in growth.Characteristic traits of bill gatesBill gates top most entrepreneur in world now. He always had a clear vision in his mindand his passion for work made him a wealthiest entrepreneur. Gates has various characteristicstraits which are as follows:Innovative: Bill gates is very innovative and always comes up with new ideas to develophis business. He moves out of his comfort zone and encourage himself to do differentthings. When we compare bill gates from other managers his creativity level is on nextlevel.Kind: This characteristic of bill gates make him different from other managers. He isvery kind to his employees as well as to poor people (Julien, 2018). He have denoted his1
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