Report on Entrepreneurship: Traits, Skills, Background, and Experience

This report provides a comprehensive overview of entrepreneurship, delving into the essential traits, skills, and background of successful entrepreneurs. It explores the characteristics that define an entrepreneur, such as risk-taking and communication skills, and examines the impact of an individual's background and experience on their entrepreneurial journey. The report also highlights examples of successful entrepreneurs like Richard Branson and Bill Gates, showcasing how their experiences have shaped their ventures. Furthermore, the report discusses the role of entrepreneurship in economic and social development, emphasizing its contribution to job creation and improved living standards. The conclusion underscores the significance of entrepreneurship in the modern business landscape, reinforcing its importance for both individuals and nations.

Entrepreneurship
and
Small Business
Management

Table of Content
• Introduction
• Characteristic traits and skills of successful entrepreneurs
• Aspects of the entrepreneurial personality
• Background and experience of entrepreneur
• Conclusion
• References

Introduction
Entrepreneurship is a process in which an individual develop, establish
and run a business venture in order to gain profitability and want to
retain at marketplace for a long time duration. An individual who
establish respective venture is known as entrepreneur who have some
specific quality to run a business in effective manner.

Characteristic traits and skills of successful
entrepreneurs
Entrepreneur is a person who have variety of skills and ability to
establish a new venture with innovative idea and strategy. With their
skill they launch new business unit that help them in gaining
profitability and good will. Along with this they also plan strategies for
retain at marketplace for a long time duration.

Cont...
Some of the major characteristic traits and skills of successful
entrepreneur which are different business manager are mentioned
below:-
Characteristic traits of successful entrepreneur:-
• Risk Taking
• Creativity

Cont...
Skills of successful entrepreneur:-
• Communication Skill
• Problem Solving Skill

Aspects of the entrepreneurial personality
Aspects of an entrepreneur is differ as compare to other person. They
are generally self motivated as well as they have mind set of becoming
a successful person at a marketplace. Along with this there are various
type of entrepreneur who conduct diverse variety of work which leads
to enhancement in economic as well as social development.

Cont...
Through this an individual able to know its personality traits that help
in enhancing their characteristic, skills and ability, explanation of
respective theory is mentioned below:-
• Openness
• Extroversion
• Neuroticism
• Agreeableness
• Conscientiousness

Background and experience of entrepreneur
Background as well as experience of a enterprise impact on their
working in both negative and positive manner. It can also motive a
person for developing their career in effective manner so that they earn
more profit and goodwill at marketplace. Now a day for this reason
many peoples are attracted toward establishing entrepreneurship
venture.

Cont...
Some examples are given below:-
Background-
Richard Branson: He was born at England, United Kingdom in year
1950. He want to become entrepreneur from his early stage. He
start his first business activities at age of 16 as a magazine seller.

Cont...
Experience-
Bill Gates: He born in year 1955 at Washington, United State. His
family is very supporting and encourage their child to become what
they want to become. He always experienced positive reaction form
others for his work.

Conclusion
By conducting evaluation of above discussed point it can be summaries
that now a day entrepreneurship business is growing itself and it also
provide job opportunities to peoples at local, national and international
level. Through this country also able to increase its economy and
standard of leaving.

References
• Scarborough, N.M., 2016. Essentials of entrepreneurship and
small business management. Pearson.
• Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small
business performance: business, strategy and owner-manager
characteristics. Journal of small business and enterprise
development, 20(1). pp.8-27.
• Julien, P.A., 2018. The state of the art in small business and
entrepreneurship. Routledge.

Thank You