Entrepreneurship and Small Business Management

This presentation provides an introduction to entrepreneurship and small business management, discussing the process of creating and managing a new business. It explores the characteristics, skills, and motivational drivers of entrepreneurs, with a focus on the success stories of Peter Jones and Alan Sugar. The presentation also examines the impact of background and experience on entrepreneurship and concludes with a discussion on different types of entrepreneurial ventures.

Entrepreneurship
and
Small Business Management

Introduction
 Entrepreneurship is a process of creating a new business, managing it and
having a long term growth prospective in running the business.
 Under entrepreneurship a company combines land, labor, capital and
entrepreneur for the production and generation of revenue.
 They have the urge to convert dreams into reality or idea into execution.

Characteristics, skills, motivational drivers
 There are certain motivational factors, traits and characteristics which is
possessed by every single entrepreneur.
 Peter Jones and Alan Sugar are two successful entrepreneurs in UK which
are successfully representing their business within marketplace.
 To achieve organisational success, it is very important for an entrepreneur
to have some certain traits, skills and characteristics.

Peter Jones
 Jones is a successful UK based entrepreneur
and eminent businessman in the field of
television, media, retail, property etc.
 Jones was appointed as Commander of the
order in British empire.
 He is well-known for programmes like
dragon's Den, Tycoon and American investor.

Characteristics
 Self-motivation: Having capability to motive our self and other is the best
characteristic which an entrepreneur must have.
 Take risks: Peter Jones is a successful entrepreneur and manage to take
different type of business risks.

Traits
 Perform business operations for high purpose: Peter has envisioned to
bring a revolution in mobile industry. This trait allow him to be a
successful business person within UK.
 Believe in product and team: Managing media and organisational work
without an efficient team is not possible. The trait of managing team
desirably differentiates Peter from a organisational manager.

Alan Sugar
 Alan Sugar is a successful business magnate and
entrepreneur.
 In business world, Sugar has gained eminent
success as an actor and producer. After establishing
a computer company named AMSTRAD, Sugar
became a millionaire.

Entrepreneurial personality reflecting
entrepreneurial mind-set
 An entrepreneur needs appreciable qualities to sustain effective relation
with different individuals for implementing business activities properly.
 They require skills to gain competitive advantage over rival companies.

Big five model of personality
 An entrepreneur needs to be efficient enough so that they an motivate their
workforce to deliver their best performance.
 Openness to experience
 Conscientiousness
 Extraversion
 Agreeableness
 Neuroticism

Background And Experience Can Hinder Or
Foster Entrepreneurship
 Skill, traits and capabilities of an entrepreneur depends upon their
knowledge and background.
 Family background of a person considerably impacts their work managing
capabilities.
 If background of family and experience is in favour of a person, no barrier
can stop them form becoming a successful entrepreneur.

Conclusion
 From above mentioned PPT, it has been concluded that there are various
kinds of entrepreneurial ventures which relates to different types of
typology in an appropriate manner.
 There are certain differences and similarities between these entrepreneurial
ventures.

References
 Karlan, D. and Valdivia, M., 2011. Teaching entrepreneurship: Impact of
business training on microfinance clients and institutions. Review of
Economics and statistics. 93(2). pp.510-527.
 Kelley, D. J., Singer, S. and Herrington, M., 2012. Global
entrepreneurship monitor 2011 global report. Global Entrepreneurship
Research Association, London Business School.