Personality Traits of Entrepreneurs and Their Role in Business Growth

Entrepreneurial
Assessment

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
Explain the personality traits of the entrepreneurs (OCEAN MODEL)................................1
Discuss the opportunities recognised or created by the entrepreneurs...................................2
Discuss the product/ service innovated by the entrepreneurs in the market and the importance
of innovation in organisation..................................................................................................3
TASK 2............................................................................................................................................4
Discuss the ways of building entrepreneurial team by the entrepreneurs..............................4
Discuss the role of entrepreneurs as a leader and how they can become successful leader...5
Discuss how entrepreneurs help in growing business............................................................6
TASK 3............................................................................................................................................6
Discuss and critically evaluate the how the organisation contribute in the growth of economy
................................................................................................................................................6
Discuss the survival challenges faced by the organisation due to COVID -19 pandemic.....9
CONCLUSION and RECOMMENDATIONS.............................................................................10
References:.....................................................................................................................................12
Books and Journals...............................................................................................................12
APPENDIX- 1...............................................................................................................................13
Overview of the company....................................................................................................13

INTRODUCTION
In this revolutionary era where the technology changes rapidly and also the competition
level between the businesses is high the entrepreneurship has now become new business term. In
the holistic approach entrepreneurship refers to the creation or building of a business for
generating the profits(Alsafadi and et. al., 2020). The basic and modern entrepreneurship refers
to the building of the business with the available resources to change the world by solving its
problem through new product and service innovation. The person who deals with all the risk and
reward related to the entrepreneurial venture and manages the activities of the organisation is
called entrepreneur (Vu and Nwachukwu, 2021). The present report will highlight the personality
traits of the two entrepreneurs using the OCEAN model and the other information about the
entrepreneurs behind the organisation. The report will further discuss about entrepreneurial team,
role of entrepreneur as leader and the contribution in economy. At last report will showcase
challenges faced by the entrepreneurial organisation due to global pandemic.
MAIN BODY
TASK 1
Explain the personality traits of the entrepreneurs (OCEAN MODEL)
Entrepreneurs are the professionals that have the capability to take risk and start new
business venture called entrepreneurship. Mohsin and Zuber Issa are the two entrepreneur
brothers and own the organisation named as EG groups. The entrepreneurs with their
entrepreneurial skills and knowledge also acquired the firms like ASDA and TDR capitals. The
entrepreneurs are known for their unique personality traits that make them successful
entrepreneur (Melchiorre, Zangerle and Schedl, 2020). Some of the personality traits of these
two entrepreneurs are discussed below using the OCEAN model:
Openness
Openness refers to the trait in which person has a quality of willingness and open to try
innovative and new things in order to engage themselves into creative and imaginative activities.
Among the two entrepreneurs Zuber Issa is high in this trait he is more open and focused on
tackling new challenging activities and also so has a quality of thinking out of the box thereby
eager to learn and enjoy new things and experiences. Zuber is known for its building of new
innovative strategy for the business (Anderson and et. al., 2021).
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Conscientiousness
Conscientiousness is the person’s quality or ability to direct their impulse control so that they can
focus on goals. Mohsin Issa is high in this personality trait his highly goal-oriented and
thoughtful and spends most of the time in planning and preparing day-to-day activities for the
organisations alignment towards goals. Being high in the trait Mohsin is more organised, pays
more attention towards the details and is deliberated and self-disciplined.
Extraversion
Extraversion referred as a quality in which person has a tendency to be more interactive with
their social environment and like to be centre of attraction. Zuber and Mohsin both are highly
extraversion as they are comfortable and energized to be part of public gatherings and enjoy
meeting people (Bandera and Passerini, 2020). Zuber has good and a broad social friend circle
and also both the brothers have acquaintances in the outside business environment.
Agreeableness
Agreeableness is a term that is used for the people who are straight forward and tend to have
good relationship with others. Both the brothers Zuber and Mohsin are high in this trait as they
have cooperative behaviour and also have an interest in other people. The brothers have many
successful acquisitions with other firms as a result of this trait as they are trustworthy and
compliance with others.
Neuroticism
Neuroticism means the complete emotional stability of a person towards the way they perceive
the situations of the world. Zuber and Mohsin are low in this trait both have stable and
emotionally resilient behaviour (Lombardi and et. al., 2020). Zuber has a good knowledge and
experience of dealing with the pressurized and stressful situations and Mohsin is very relaxed
and calm in nature.
Discuss the opportunities recognised or created by the entrepreneurs
Entrepreneurs are commonly known as innovator as they produce new products and
services with new ideas and techniques which help them in creating the opportunities for the
successful future of the organisation. There are the internal as well as external factors that
facilitate the entrepreneurs to recognise or create the opportunities. Mohsin and Zuber Issa with
their innovative and critical thinking skills has recognised and created various opportunities for
the productivity and prosperity of the EG group (Armuña and et. al., 2020). By researching the
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