The Mindset of Entrepreneurship: Traits, Characteristics, and Scope

This presentation by Desklib explores the mindset of entrepreneurship, including the scope of local, social, and global entrepreneurs, the traits and characteristics of successful entrepreneurs like Liz Wilson and Ren Zhengfei, and the difference between entrepreneurs and business managers. It also discusses how background and experiences can either hinder or foster entrepreneurship. References are included for further reading.

THE MINDSET OF
ENTREPRENEUR

TABLE OF CONTENT
 Introduction
 Scope of entrepreneurship that incorporates local, social and global
entrepreneurs.
 Entrepreneurial traits and characteristics of successful entrepreneurs
 Difference between entrepreneurs and business managers.
 Background and experiences either hinder or foster entrepreneurship
 Conclusion
 References

INTRODUCTION
Entrepreneurship is undertaken as procedures which incorporate
phases associated with initiation, designing, performing and
introducing innovative business ideas along innovation within
market areas. Moreover, it is much essential aspects of all country
as this is consider the key source of income generation and which
also drives towards high GDP. The respective presentation
represents “The Mindset of Entrepreneur”.

SCOPE OF ENTREPRENEURSHIP THAT INCORPORATES LOCAL, SOCIAL AND
GLOBAL ENTREPRENEURS
The key scope of entrepreneurship is that essential aspects of all
country as this is consider the key source of income generation
and which also drives towards high GDP either they are local,
social and global entrepreneurs. The examples related to local,
social and global entrepreneurs are discussed below:
 Local entrepreneur-Liz Wilson
 Social entrepreneur-Bill Drayton
 Global entrepreneur-Ren Zhengfei

ENTREPRENEURIAL TRAITS AND CHARACTERISTICS
OF SUCCESSFUL ENTREPRENEURS
Successful entrepreneurs Characteristics Traits Skills
Liz Wilson Passion: This is one of the most
essential characteristics that have
been hold by Liz Wilson. With having
a passion she effectively stimulate
growth of the business venture while
ensuring its long-term sustainability.
This characteristic allows her to
accomplish corporate goals overcome
complex and tensed situations in a
well effective manner.
Confident: This trait is been
successfully possessed by Liz Wilson
that allows her to effectively conducts
organizational activities with high
confidence. Business venture in which
she operates business is dynamic and
in this needs of consumers
dynamically changes. With the help of
effective confidence Liz undertake
new ideas that develops new
opportunities to ensure maximum
business growth.
Innovative thinking: This skill is most
essential and crucial skill which Liz is
having, as it innovative thinking direct
her towards fulfilling changing needs
and demands of customers and fulfill
organizational targets in effective
manner. In context with managers of
company, it has been identified that
they did not have innovative thinking
skill as their nature is to restrict any
change in organizational structure
Ren Zhengfei Keen Learner: Ren Zhengfei mainly
believes in learning before act
philosophy. He mainly emphasize
upon Huawei employees in order to
make them adaptive towards new
things. On the other hand company
manager undertake use of inflexible
management style that make them to
restrict to word new to change to
execute a task.
Purpose driven ambitious: This trait of
Ren Zhengfei define his aspiring
nature to make Huawei to accomplish
consumer demands as well as needs
in a well defined manner. He always
aspire employees with his success
story that also acts as a motivating
agent towards organizational goals. In
contrast to this manager of company
seen to be ineffective and face
difficulties to fulfill actual needs of
consumers.
Directive Leadership: This is one of
the most important skills that have
been possessed by Ren Zhengfei. In
this directive form of leadership is
adopted by him in order to set target
and goals for Huawei employees. In
this form of leadership, leaders offer
formative form of direction to workers
as to accomplish entity goals and
objectives. In opposite to this,
manager of company use rigid style
that restricts them to make rapid
changes.

DIFFERENCE BETWEEN ENTREPRENEURS AND
BUSINESS MANAGERS
Entrepreneurs Managers
Entrepreneurs does not work for
profit motive as their main vision is
to innovative something new and
unique to serve community in a well
defined manner.
Managers mainly perform their
work for salary and have main
motive to increase profitability.
They are keen to learn new things
and are mainly tend towards
innovation as to consider new
opportunities.
Managers mainly consider
change and innovation as a
problem and their nature is to
restrict new change

BACKGROUND AND EXPERIENCES EITHER
HINDER OR FOSTER ENTREPRENEURSHIP
The local, social and global entrepreneurs’ background and
experiences influences entrepreneurship which are discussed below:
Liz Wilson
Background & Experience
Liz Wilson was a baker, passionate home cook and teacher.
Additionally, she accomplished Bread Angel’s Micro Bakery course
during July, 2013 in which she developed likelihood towards deal
with bread.

CONCLUSION
As per the above presentation, it has been concluded that
entrepreneurship plays vital role because this is the procedures
which incorporate phases associated with initiation, designing,
performing and introducing innovative business ideas along
innovation within market areas.

REFERENCES
 Blackburn, R. A., Hart, M. and Wainwright, T., 2013. Small
business performance: business, strategy and owner-manager
characteristics. Journal of small business and enterprise
development. 20(1). pp.8-27.
 Bridge, S. and O'Neill, K., 2012. Understanding enterprise:
entrepreneurship and small business. Palgrave Macmillan.

THANK YOU