Entrepreneurship and Small Business Management - Assignment Solved

Added on - 21 Feb 2021

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Entrepreneurship andSmall BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1................................................................................................................................1Covered in Booklet......................................................................................................................1ACTIVITY 2....................................................................................................................................1P5. Characteristic traits and skills of successful entrepreneurs...................................................1P6. Aspects of entrepreneurial personality that reflects entrepreneurial motivation and mindset.......................................................................................................................................................3M3. Examining different lines of arguments related with entrepreneurial characteristics.........4D3. Analysis of characteristics, traits, skills and motivational drivers of successfulentrepreneur.................................................................................................................................4P7. The way in which background and experience can foster entrepreneur................................4M4. Linkage between entrepreneurial characteristics and personal background and experience.......................................................................................................................................................5D4. Critical evaluation of background as well as experience of entrepreneurs...........................5CONCLUSION................................................................................................................................6REFERENCES:...............................................................................................................................7
INTRODUCTIONEntrepreneurship refers to the willingness, potentiality, capability and capacity of anindividual to perform various activities from developing an idea to running a business venture insuccessful manner by mitigating risks in order to make higher profits(Fatoki and Oni, 2014). Itencompasses activities related to developing an innovative idea, generating plans, arrangingvarious resources, implementing actions and carefully monitoring all steps that helps in attainingclear objectives in effective manner. In this report, Make It Work is selected which is aconsultancy organisation that delivers certain services such as advisory, operating andmanagerial services to developing entrepreneurs for successfully running their business ventures.The report discusses about different types of entrepreneurial ventures along with their relationswith typology, similarities as well as differences between entrepreneurial ventures, impact ofsmall businesses on economic conditions. It further includes key aspects of entrepreneurialmindset and different environments that foster entrepreneurship.ACTIVITY 1Covered in BookletACTIVITY 2P5. Characteristic traits and skills of successful entrepreneurs.Entrepreneurs are the individual who who takes initiation to launch as well assuccessfully managing the venture with innovative ideas that helps them to become famous incompetitive market(Gwija, Chuks and Iwu, 2014). For such purpose, entrepreneurs have distinctskills, trait as well as characteristics that helps them to manage and run the operations ineffective manner. They possess knowledge related to market conditions and at the same timeformulates solutions to resolve problems that comes between business and success. The specificcharacteristic, trait along with skills of famous entrepreneurs are as described:Bill Gates: Such entrepreneur was born on October 28, 1955. His full name is WilliamHenry gates III and is an American investor, humanitarian, author, business magnate and henceforth. He is famous for establishing a company known as Microsoft Corporation.1
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