BTEC Unit 9 - Entrepreneurship and Small Business Management Part 2

This report delves into the scope of entrepreneurship, examining local, social, and global ventures while justifying their situational factors, similarities, and differences. It highlights the characteristics and traits of various entrepreneurs, drawing examples from figures like JK Rowling and Richard Branson to illustrate key concepts. The analysis uses the OCEAN model to explore entrepreneurial traits such as extraversion, agreeableness, conscientiousness, openness, and neuroticism. Furthermore, the report analyzes how background and experience can either foster or hinder entrepreneurship, using Rowling's personal and professional journey as a case study. The conclusion emphasizes that successful entrepreneurs learn from their experiences and adapt to challenges, using their knowledge to achieve strategic aims and maintain a competitive edge in the market. The experiences of both JK Rowling and Richard Branson demonstrate how past challenges can drive individuals to achieve remarkable success.

UNIT 9- ENTREPRENEURSHIP AND
SMALL BUSINESS MANAGEMENT
Part 2

Table of content
 Introduction
 Main body
 Conclusion
 References

Introduction
 Entrepreneurship refer to capability to person to establish, manage and run a venture appropriately.
 The current presentation will explain scope of entrepreneurship including local, one social and global entrepreneur.
 It will justify their situational factors, similarities and differences as well as characteristic and traits of different
entrepreneurs. Lastly, the assignment will justify how experience and background can either foster or hinder
entrepreneurship.

Examples of entrepreneurs to illustrate scope of entrepreneurship including
one social enterprise, global & local entrepreneur
 An entrepreneur refer to those individuals who efforts and attempt to create a new venture, take decision to grow it
and gain competitive edge by operating under particular sector.
 In the world of business, there are several person's may exist who knowns as entrepreneurs by conducting corporate
activities in effective manner.

Explaining situational factors, differences and similarities of entrepreneurs
 JK Rowling and Richard Branson are the two top UK's successful business icons who efforts to reach at expected
outcomes and grow continually, by learning from their own experiences that they had gained from personal life's.
 In the context of JK Rowling, her personal life clashes may consider as situational factor that put negative impact
on her physical and mental health, but drive her attention towards becoming entrepreneur as well-known British
Author.

Discussion on shared entrepreneurial traits and qualities
 The ocean model of entrepreneurship will enable us to examine in detail focus on five key factors, strengthening
work targets and performance abilities variedly for over productive targets dynamically.
 Extraversion:
 Agreeableness:
 Conscientiousness:
 Openness:
 Neuroticism:

Analysing how background & experience can either hinder or foster
entrepreneurship
 J. k Rowling, being one of the biggest entrepreneur and author within world is known for her high passion and
willpower, strengthened working advancement rise variedly towards stronger courageous skills.
 Her family and previous working history signifies that the entrepreneur has gone through high changes and
emotional struggle, where initial working period has not been smooth.

Conclusion
 From above analysis, it has been concluded that entrepreneurs have obtained desire outcomes and achieved
strategic aims, by learning and gaining knowledge from their own experience in positive manner.
 They had learned how to become a successful business man and hold top position in market by taking useful
experience during their life journey from academic candidate to productive employee.
 The background of JK Rowling and Richard Branson inspired both to take action which drive their career and life
in different directions. On the other hand, it has been determined that they both get experience by conducting
specific activities and learned from previous situations that happen in their live in term of challenges.
 The earlier experience of both has influenced them at extreme level in term of driving their efforts to get success by
getting knowledge from their own mistakes.

References
 Jones, P. and et.al., 2021. An exploration of the role and contribution of entrepreneurship centres in UK higher
education institutions. Journal of Small Business and Enterprise Development.
 Yousafzai, S., and et.al, 2021. Understanding Women's Entrepreneurship in a Gendered Context: Influences and
Restraints. Routledge.