Entrepreneurship: How Background Fosters Entrepreneurship Presentation

This presentation delves into the realm of entrepreneurship, examining how an individual's background and experiences can foster entrepreneurial success. It begins by defining entrepreneurship as the willingness to develop and manage a venture with the aim of generating profit. The presentation then uses the examples of Richard Branson and Philip Green to illustrate how their respective backgrounds, including family support and early business ventures, have contributed to their success. It highlights that family support, early exposure to business, and the willingness to learn from both successes and failures are crucial factors. The presentation concludes by emphasizing the significant impact of background and experience on entrepreneurial endeavors, both positively and negatively. The references include academic sources that support the concepts discussed.

Entrepreneurship and
Small Business
Management

Table of Content
 Introduction
 The way background and experience can foster entrepreneurship
 Conclusion
 References

Introduction
Entrepreneurship is referred as the willingness and capability of an
individual to develop and manage a venture by taking risk with the hope of
earning profit. This presentation covers the way background as well as
experience fosters entrepreneurship among an individual. It includes
background and experience of Richard Branson and Philip Green.

The way background and experience can foster
entrepreneurship
Richard Branson:
Sir Richard Charles Nicholas Branson was born in on 18th July, 1950 and is one
of the leading British entrepreneur, investor, philanthropist and author. He is the
founder of virgin group and controls over 400 organisations in various fields. In
the very young age, Richard expressed his desire to be an entrepreneur. He was
born in Blackheath to Edward James Branson and Eve Branson. Richard has
two young sisters and his grandfather was judge in High court of justice. His
mother was air hostess and ballet dancer and father was a barrister.

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He was educated at a prep school in Surrey named as Scaitcliffe school. Until
the age of 16, he attended Stowe School. He has dyslexia as well as had poor
academic performance. The parents of Richard supportive of his endeavours.
Branson has been engaged in numerous failed businesses like virgin cars, virgin
clothing, etc. But, still he holds an optimistic view of failure. The support from
his family and the experience that Richard get by doing different businesses
Foster entrepreneurship in him and this is the main reason behind his success.

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Philip Green:
Sir Philip Nigel Ross Green is also a leading entrepreneur and a British
billionaire businessman. He is the chairman of Arcadia group. He was born on
15th March 1952 in Surrey in a middle class family. In the age of 9, he was
sent to Jewish boarding school Carmel College. When he was 12 years old,
his father died and he inherited the business of family. After leaving boarding
school, Philip worked for shoe importer. On his return in the age of 21, Green
established his first business of importing jeans from far East and then sell
them to retailers of London.

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The business was helped with the loan of 20000 pounds which was backed by
his family. In year 1988, he became chief executive and chairman of Amber
Day and in 1992, Green resigned when organisation failed to mitigate its profit
forecast. After that, Philip assisted his wife in purchase of Arcadia group.
Though Philip Green belongs to middle family, the support from the family and
the experience which he gets from doing different businesses fostering
entrepreneurship in him and as a result he is one of the successful entrepreneur
today.

Conclusion
As per the presentation, it can be concluded that the background and
experience of an individual highly contributes in fostering
entrepreneurship among them. These impacts in both negative as well as
positive way.

References
 Audretsch, D.B. and Link, A.N., 2012. Valuing an entrepreneurial
enterprise. Small Business Economics. 38(2). pp.139-145.
 Barringer, B., 2012. Entrepreneurship: Successfully Launching New
Ventures, (2012).
 Baum, J. R., Frese, M. and Baron, R. A. Eds., 2014. The psychology of
entrepreneurship. Psychology Press.

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