Entrepreneurial Mind-set Report: Motivational Drivers and Traits

This report delves into the multifaceted nature of the entrepreneurial mind-set, examining its core characteristics, motivational drivers, and the skills essential for success. It explores the key differences between entrepreneurs and managers, highlighting the importance of a future-oriented approach and strategic thinking. The report investigates how factors such as family support, past experiences, and personality traits shape entrepreneurial behavior and influence the ability to overcome challenges. Furthermore, it discusses the impact of an individual's background and experience on their entrepreneurial journey. The report also examines how personal history influences entrepreneurial skills and characteristics. It also includes a section on the nature versus nurture debate, and how entrepreneurs are made, supported by references to relevant academic sources.

The Mind-set of the
Entrepreneur
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S T U D E N T N A M E :
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What is Entrepreneur Mind-set?
This is a strategy which is used by individuals to enhance their knowledge and capabilities in
order to run their business effectively. This consider five characteristics that helps in bolster
economic development and inventing new products in competitive market.

The characteristic traits, skills of
successful entrepreneurs
Some of their key characteristics and skills that make them different from other business
managers are described below:
Passionate
Future oriented:
Time management:
Strategic thinking

Difference between characteristics of
successful Entrepreneurs and Managers
Difference between characteristics of managers and entrepreneurs: the main characteristics
of entrepreneurs are passionate and future oriented. on the other hand, for managers these are
communication, leadership etc. these are different from each other because the responsibilities of
both of them are separate. managers are main responsible for the management of the business
empire which is established by entrepreneurs. it is one of the main factors which are creating
difference between characteristics of both of them.

The motivational drivers of successful
entrepreneurs
Motivational drivers for the entrepreneurs: There are various types of factors that motivates
entrepreneurs such as Bill Gates and Mark Zuckerberg. All of them are as follows:
Support from the family is one of the main motivational drivers which is beneficial for both of
them to manage their business and find effective ways to grow it.
Past experience and mistakes are also the motivational drivers for them as it helps them to ignore
the adverse situations that have affected them previously.

How aspects of the entrepreneurial personality
reflect entrepreneurial motivation and mind-set
Aspects Entrepreneurial personality – This means combination of characteristics and qualities
which forms an individual’s distinctive character. This personality helps to accept the challenges
and changes in their organisation and create a different between others. A personal should have
good personality characteristics which can help to increase organisational profitability.

Nature or Nurture
: Are Entrepreneurs Born or Made?
Entrepreneurs are not born they are introduce in market by their skills and traits which helps to
become a successful entrepreneurs. These are made sometime through background and personal
experience which supports them to establish their business and creating a uniqueness.

How background and experience influences
entrepreneurs: International Entrepreneur
Entrepreneurship cycle is significantly influenced by different factors that can have either
positive or negative impacts. An entrepreneur's history has a significant impact on an
entrepreneur's skills and characteristics and how they respond to a specific decision. When an
individual has a family's business history then person is encouraged to step forward in order to
start a business venture when an individual has ample data to know how to handle various
components. It guarantees proper oversight and control of open market inventory, which adds to
big business achievement.

References:
Baum, J. R., Frese, M. and Baron, R. A. Eds., 2014. The psychology of entrepreneurship. Psychology Press.
Carsrud, A. and Brännback, M., 2011. Entrepreneurial motivations: what do we still need to know?. Journal of Small
Business Management. 49(1). pp.9-26.
Landes, D.S., Mokyr, J. and Baumol, W.J. Eds., 2012. The invention of enterprise: Entrepreneurship from ancient
Mesopotamia to modern times. Princeton University Press.
Fassin, Y., Van Rossem, A. and Buelens, M., 2011. Small-business owner-managers’ perceptions of business ethics and
CSR-related concepts. Journal of Business ethics. 98(3). pp.425-453.
George, G. and Bock, A. J., 2011. The business model in practice and its implications for entrepreneurship research.
Entrepreneurship theory and practice. 35(1). pp.83-111.