Entrepreneurial Mindsets: A Comparative Analysis of Key Traits

This report provides a comparative analysis of the entrepreneurial mindsets of various entrepreneurs, including local, global, and social entrepreneurs. It explores their situational factors, similarities, and differences, focusing on their entrepreneurial traits and characteristics such as creativity, passion, professionalism, knowledge, and risk-taking. The analysis delves into the backgrounds and experiences of entrepreneurs like Martin Edward Walton, James Dyson, and Bill Drayton, comparing their influences and approaches to business. The report concludes that entrepreneurial traits play a significant role in fostering company growth, highlighting the importance of creativity, innovation, and risk-taking in achieving organizational objectives. Desklib offers a platform for students to access this report and other solved assignments for academic assistance.

THE MINDSET OF ENTREPRENEUR

Table Of Contents
• Examples of specified entrepreneurs
• Exploration of their situational factors, similarities and differences
• Discussion of their entrepreneurial traits and characteristics
• Analyzing entrepreneurial backgrounds and experiences
• Comparison of their background, experiences and influence
• Conclusion
• References

INTRODUCTION
• Entrepreneurial mind-set is concerned with set of capabilities and
skills which enables persons to think creatively and bring innovative
ideas in smooth functioning of business operations. It can be termed
as a specified way of thinking which embraces challenges and
opportunities in a proactive manner.
• To understand mind-set of entrepreneurs, varied examples have been
taken into consideration.

Examples of Specified Entrepreneurs
• Entrepreneur is termed as an individual who starts his
business with some innovative idea, bears almost
every risk and enjoy profits alone. Varied types of
entrepreneurs which are popular in UK are as
follows:
• Local entrepreneur
• Global entrepreneur
• Social entrepreneur

Exploration of their situational factors,
similarities and differences
• Situational factors are those which are considered as push forces that drives entrepreneurs to initiate a
specified task or job. Varied situational factors that affect entrepreneurship are as follows:
• Local entrepreneurs get affected by constraints of political landscape. As they are local entrepreneurs they
tend to follow varied rules and regulations imposed by government.
• Global entrepreneurs are tend to face regulations of different nations and compliance with those is necessary
to perform business activities smoothly
• Social entrepreneurs are desired to carefully check varied factors which are compulsory for sustainable
development of society

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Varied similarities among them
• Basic similarities among local, global and social entrepreneurs is to bring innovative ideas, taking and
promote new technological advancements. These all are creative in their approach and bring innovative
ideas for products or service.
• Traits of creativity and innovation is in-born in individuals. Management can be learned but creativity and
innovation can not be learned from any seminars or schools.

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Basis of difference Local entrepreneurs Global entrepreneurs Social entrepreneurs
Purpose Purpose of Martin Edward Walton
is to expand their business
further to become global
enterprise.
Purpose of James Dyson is to
make continuous modifications in
its products.
Purpose of Bill Dryton is to
change people perspectives
about environment and inspiring
them to conserve it.
Objective Walton's objective is to increase
market size of Broadsword Event
House in UK market.
Objective of Dyson limited is to
maintain its branches effectively
on a world wide basis.
Main objective of Bill Dryton is to
initiate more programs which
provides sustainability to society.
Differences among them

Discussion of their shared entrepreneurial
traits and characteristics
• Entrepreneurial traits and characteristics are concerned with personal
capabilities as well as skills of person which help them to become successful
entrepreneurs.
• Various traits of entrepreneurs in relevance with martin Edward Walton,
James Dynos and bill Drayton are discussed below:
• Creativity
• Passion
• Professionalism
• Knowledge
• Risk-taking

Analysing background and experience of
entrepreneurs
• It is significant to understand background and experiences of entrepreneurs as this help identify their
characteristics and features.
• Martin Edward Walton is a founder and director of broadsword event house. He has inborn talented and
creative from his early school days
• Later on, he started his own company named broadsword event house which organises various events in
UK.
• His creativity and curiosity help company to modify its operations timely and to bring out some innovative
ideas. This helps company to reach a large number of customers.

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• James Dyson was born in 2 may, 1947 in Norfolk. He is not from well-off family and done his studies from
distance learning . he was not focused and determined in his studies but later on he develop methods of
effective learning. He was keenly interested in innovating things with his creative ideas.
• He created company Dyson limited which deals in making vacuum cleaners, styles and dryers. His ability of
creativity and innovations led his company Dyson limited to work smoothly

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• Bill Drayton is a social entrepreneur who has set up his company, named, Asoka, which helps to foster
social entrepreneurs on a world wide basis.
• His practices foster his company's growth and helps it to gain viable position in market. His communication
skills and proactive approach helps his company to face varied risks and mitigate them on time.

Comparing backgrounds, experience and
influence of entrepreneurs
Basis James Dyson Martin Edward Walton Bill Drayton
Background He is curious about furniture and
electronics from young age. So he
studied furniture and interior
designing for one year.
He is very creative with his ideas
from childhood which influence him
to open his own business
management organisation.
He was always keen to take part in
social activities from early days
which inspires him to develops his
own social entrepreneurship.