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Entreprenurship and Small Business Management

   

Added on  2020-10-22

7 Pages2607 Words109 Views
Professional Development
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ENTREPRENURSHIP AND SMALL BUSINESS MANAGEMENT
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ContentsINTRODUCTION...........................................................................................................................................3P5 Characteristic and traits of successful entrepreneur..........................................................................3P6 Personality of entrepreneur act as a motivational tool......................................................................4P7 Background and experiences which can hinder or foster entrepreneurship......................................5CONCLUSION...............................................................................................................................................6REFERENCES..........................................................................................................................................7
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INTRODUCTIONSmall business enterprise is fully regulated and operated by private firm, corporation,sole traders and individual organization in which less number of employees who are doing workfor achieving desired targets and objectives in better manner. Private companies are assisting inenhancing success and growth of economy of the nation in appropriate way (Bridge and O'Neill,2012).They are formulating and making innovative and creative goods for their customers ineffectively. Entrepreneurs have high skill and knowledge for managing and maintaining all typesof activities and functions within an enterprise. In this project, it can be describe that there arevarious traits and characteristics, background of entrepreneur are discussed as under. P5 Characteristic and traits of successful entrepreneurEntrepreneurship can be termed as the statement that can help in the creation anddevelopment of innovative services and products for the consumer within large competitivemarketplace. An individual who will review and operate the certain venture will be termed as thevisionary of business. The organization will manufacture the best value quality of services andproducts that for their service user among the competition in order to sustain. Worker has theexperiences and skill that are able to reduce the issues and struggles of business in the efficientmanner. For instance, this report will evaluate two major entrepreneurs i.e. Henry Ford and MarkZuckerberg. They both have the capability and skills that can aid in the formation of new andlarge business through effective services and products. On the other hand, Henry Ford, owner ofFord Motor enterprise as well as he has the skills and qualification that is distinct from otherindividual. There are few traits and characteristic which are mentioned as below: Henry Ford AttributeThere are several traits and characteristic of Henry Ford which should be compliedthrough their experience life as well as this can assist them for rendering more good leaders inthe recent time frame. Confidence: Henry Ford is one confident individual as well as is certain about theirdecision making. It will help in give speech in front of large number of audience.Disciplined: The major concern is to evolve effective decision making for the enterprisein appropriate way and it can help in the elimination of entire barrier while achievingtheir objectives and goals (Burns, 2010).Determination: This is fundamental for the individual to determine the proper goals andobjectives that they need to dedicate for the task and activities completion. Open-minded: Both of those entrepreneurs have also skills for making certain decisionthat aid in rendering benefits of enterprise. Hard working- Henry Ford is hard worker and active when it comes to performing anytype of functions and activities of an organization. It is one of essential traits which assistin making accurate decision of firm and help in growing the company in competitiveworking environment. Risk taking and decisive-An organization can be able for making accurate decisions inthe conflict and dangerous situations and in more stressful condition. They requiredtaking risk for understanding all possible failure and success in the sector. MarkZuckerberg spending huge amount of capitalfor evaluating the major risk along with
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