BTEC HND in Business Management: Entrepreneurship Report (Unit 9)

This report delves into the core concepts of entrepreneurship and small business management, examining the essential skills required for entrepreneurial success, such as creativity and professionalism, and contrasting them with those of business managers. It reflects on how an entrepreneur's personality shapes their motivation and mindset, using examples of successful entrepreneurs like Philip Green to illustrate key points. The report further investigates how personal experiences and background can either hinder or foster entrepreneurial ventures. It highlights the significance of support systems, motivation, and financial backgrounds. The report concludes by acknowledging the evolving landscape of entrepreneurship, emphasizing the role of technology and the importance of small enterprises in economic growth, referencing statistics to support its findings.

Entrepreneurship and
small business
management

TABLE OF CONTENT
 INTRODUCTION
 Skills for successful entrepreneurs and there difference with
business managers
 Reflection of entrepreneurial personality on entrepreneurial
motivation and mind-set
 Experience and background hindering entrepreneurship
 CONCLUSION
 REFERENCES

INTRODUCTION
 Entrepreneurship and small business management are considered to be
those favourable aspects in order to aim for a good economy of the
organisation.
 Entrepreneurship and small business management will go hand in hand
with successful strategies that are implied on the micro as well as the
small businesses that represents more over 90% of the active companies
economy.
 This entire report will deal with Entrepreneurship and small business
management and the aspects along with atrocities are portrayed.

SKILLS FOR SUCCESSFUL
ENTREPRENEURS AND THERE
DIFFERENCE WITH BUSINESS MANAGERS
 Characteristic traits and skills for being a successful entrepreneur are,
Creativity :
 It is very important for an entrepreneur to be creative, being creative
helps the business in development of ideas for product and process.
Professionalism :
 Being professional as an entrepreneur helps in maintaining discipline
which is important to achieving success in the business.

CONTINUE..
 The difference between the entrepreneur and business managers are,
Entrepreneur Managers
Entrepreneur are owners of the
business they are the people
which bear all the risk of their
business.
Managers are hired individuals
for a business/company they
work for the salary they get
therefore they do not bear any
risk.

REFLECTION OF ENTREPRENEURIAL
PERSONALITY ON ENTREPRENEURIAL
MOTIVATION AND MINDSET
 For the reflection of entrepreneurial personality on entrepreneurial
motivation and mind-set some examples of entrepreneurs can be
used for showing the comparison and similarities between them.
 One of the local entrepreneur is Philip Green who is the chairmen
of the retail company Arcadia group. The accomplishments of this
entrepreneur are mind-blowing.
 This entrepreneur has been the chairmen of many companies in
the past. Green started from its family business as a shoe importer.

CONTINUE..
 The personality of the entrepreneurs discussed is quite similar.
 Both the entrepreneur have not been afraid of taking risks this
shows their bravery.
 For growing from nothing to something requires extreme hard
work as an individual.
 These entrepreneurs have proved that with an attitude of
believing in themselves, great things can be achieved.
 Their achievements can be seen in the performance of their
career.

EXPERIENCE AND BACKGROUND
HINDERING ENTREPRENEURSHIP
 The entrepreneurship business can be hindered or fostered due
to high effects from experiences and the personal background
for the entrepreneur.
 The personal background of the entrepreneur is the support it
gets from the friends and family, motivation, financial
background and others.
 By getting good support form the friends and family an
entrepreneur can get motivated for setting up a business.

CONTINUE..
 There is link between the entrepreneurial characteristic and the
personal background and experiences to the success of the
entrepreneur.
 The experience and the personal background allows the individual
for setting up a successful business.
 Philip Green who is the chairmen of the retail company Arcadia
group. Green started from its family business as a shoe importer.

CONCLUSION
 It can be concluded that today’s world is growing with technologies
and priorities are changing.
 There are several ventures which can help the entrepreneurs rise.
 These ventures have many differences but have some points where
they show similarities.
 The data and statics provided in the report helps in understanding
the value of micro and small enterprise in the growth of country’s
economy.

REFERENCES
 Halberstadt, J., and et.al., 2019. Skills and knowledge
management in higher education: how service learning can
contribute to social entrepreneurial competence
development. Journal of Knowledge Management.
 Kreiser, P.M., and et.al., 2021. Corporate entrepreneurship
strategy: extending our knowledge boundaries through
configuration theory. Small Business Economics. 56(2). pp.739-
758.