Entrepreneurial Ventures and Mindset: Local, Global, Social Example

This assignment delves into the realm of entrepreneurial ventures and the entrepreneurial mindset, offering an analysis of three distinct types of entrepreneurs: local, global, and social. It presents Natasha Faith as a local entrepreneur, Steve Jobs as a global entrepreneur, and Jeremy Jeresky as a social entrepreneur, highlighting their backgrounds and contributions. The assignment contrasts business managers with entrepreneurs, outlining differences in risk tolerance, focus, motivation, problem-solving approaches, and rewards. It further explores the key traits and characteristics of entrepreneurs, such as versatility, vision, creativity, and risk tolerance. The document also examines how the backgrounds and experiences of entrepreneurs, including examples from the case studies, can either facilitate or hinder their entrepreneurial endeavors, referencing relevant academic sources. Overall, the assignment provides a comprehensive overview of the entrepreneurial landscape, offering insights into the diverse factors that shape entrepreneurial success.

ENTREPRENEURIAL
VENTURES AND
ENTREPRENEURIAL
MINDSET

Examples of one local entrepreneur, one global
entrepreneur and one social entrepreneur
 Natasha Faith is the local entrepreneur in London. Natasha is designer and chief executive
of the company La Diosa. Natasha shared business with one partner named Semhal Zemikael.
 Steve Jobs is the global entrepreneur in London. Steve Jobs was the Apple founder and
former CEO who introduced iphone. Steve Jobs became an entrepreneur with the co – founder
Steve Wozniak.
 Jeremy Jeresky is the social entrepreneur in London. Jeremy created a social school which is
open to all community members. The school in the society helps the adults and the youth by
providing opportunities to deal with the issues of mental health, social barriers and poverty.

Difference between different types of business
managers and their entrepreneur personality
Business Managers Entrepreneurs
1. Business Managers do not bear any risk and they
work typically only for salary
1. Entrepreneurs are creative and visionary and they are
always ready to bear financial risk which may occur.
2. Business Managers focus on daily activities of
business and whether they are running smoothly or
not in the company.
2. Entrepreneurs focus on how to expand idea and
knowledge for new entrepreneurial set – up.
3. Managers are self – motivated as they seek power
from themselves as per their position.
3. Entrepreneurs are motivated by their key
achievements which they have gained through hard –
work
4. The problems which managers face are all on
formal grounds and they solve it on priority.
4. Entrepreneurs are all in manner of being casual and
informal and follow this approach throughout.
5. For managers, remuneration is salary which is
drawn by company for them.
5. The profit earned by entrepreneur is reward from
enterprise.

Entrepreneur traits and characteristics
 The main characteristic which the entrepreneurs hold are that they are versatile,
visionary and creative and are always motivated to perform their work and deliver
duties of what they have.
 Along with this, entrepreneurs are also flexible towards any changes or adopting
anything new which they believe will improve and enhance their business and through
that they seek growth in their business.
 Furthermore, Entrepreneurs are the individuals who have high risk tolerance and
therefore they are not afraid of taking risks. They are hard workers and they prefer that
whatever they achieve in their life is due to hard work and business skills which they
have.
 Entrepreneurs are also self – motivated which makes them rely on things and take risks.
Through their self motivational practice they make their business achieve heights and
accomplish goals and objectives which they have set in their business.

Ways in which backgrounds and experience of
entrepreneurs can either hinder or foster
entrepreneurship
Background and experience of entrepreneurs can directly impact entrepreneurship and
their experience in both positive and negative manner. there are many different ways in which
entrepreneurship background and their experience can either work as a hindrance or can foster
their entrepreneurship in many different ways (Johara, Yahya and Tehseen, 2017). Some of the
main background and experience factors that can impact entrepreneur’s entrepreneurship by
working as hindrance or by fostering it are as follows:
 Steve Jobs: Steve jobs was from a family where his parents were not able to afford his
tuition fees which resulted him in dropping out from college. He then further started reading
about empathy, ingenuity which resulted in motivating him to do something. His interest in
engineering resulted in dropping out from Reed, experience of working as a video game
designer helped in in discovering and founding Apple.

CONT..
 Natasha Faith: Interest of Natasha Faith in Jewellery and her belief that Jewellery is not
only apart of beauty but a part of a person inspired her to work upon starting up her own
business. Her interest in Jewellery and enhancing beauty of a women helped her in
developing a growing large business. Today her business is large business that First Lady
Michelle Obama and the Duchess of Cambridge, Kate Middleton wore her jewellery.
 Jeremy Jeresky: Jeremy’s interest in art and support of his family members helped him in
starting his own social organization that helps him in enhancing the quality of life and the
creative vitality of London in order to fulfil his goal of nurturing the awareness of art, by
supporting people who wish to learn art.

References
 Johara, F., Yahya, S.B. and Tehseen, S., 2017. Determinants of future entrepreneurship
and entrepreneurial intention. Global Business and Management Research. 9(4s).
pp.80-95.
 Sycheva and et.al, 2018. Economic potential and development prospects of small
businesses in rural areas.
 Uwonda and et.al, 2017. Start-Ups and Youth Entrepreneurship as a Strategy for
Reducing Youth Unemployment in Africa; Evidence from Gulu and Oyam Districts,
Northern Uganda.
 Valentinov, V. and et.al., 2021. A conception of moral wayfinding for business
managers: The obligation for a sustainable corporation. Journal of Cleaner
Production.284.p.124771.