BTEC HND Business: Entrepreneurial Ventures and Mindset Exploration

This report delves into the characteristics, skills, and situational factors associated with successful entrepreneurs, drawing comparisons and contrasts between figures like J.K. Rowling, Bill Gates, and Anshu Gupta. It examines how personal backgrounds and experiences can either foster or hinder entrepreneurial endeavors, emphasizing the importance of an entrepreneurial mindset in navigating challenging business environments. The report concludes that an entrepreneur's background, including family support, education, and financial resources, significantly impacts their business performance. It also acknowledges the influence of external constraints such as political, legal, and social factors on entrepreneurial success. The document concludes with a list of references. Desklib provides a platform for students to access similar solved assignments and resources.

ENTREPRENEURSHIP AND SMALL
BUSINESS MANAGEMENT

TABLE OF CONTENT
• Characteristics and skills of successful entrepreneurs
• Entrepreneur situational factors, similarities and differences
• Characteristics and traits for entrepreneurial
• Backgrounds and experiences either hinder or foster entrepreneurship
• Conclusion drawn from comparing and contrasting various entrepreneurs
• REFERENCES

Executive summary
• Entrepreneurship is the process of innovation creativity
which help entrepreneurs to stand alone in the crowd.
• Entrepreneur have various types of mind set which allow
them to stay active during any hostile situation and bad
market condition, entrepreneur handle their enterprise
their with special set of skills and ability.

Characteristics and skills of successful entrepreneurs
• The entrepreneur is a person who comes up with a unique business
concept and implements the idea in business to gain profits as a
reward.
• These are considered as risk-bearers and plays an active role in
boosting overall economy.
• There are some examples of local, global and social entrepreneurs.

J.K. Rowling
• J.K. Rowling is considered as the famous successful
entrepreneur
• She is a British author, film and television producer and
also the screenwriter.
• She is well famous for writing the Harry Potter fantasy
series and has also won multiple awards in the life

Bill Gates
• Bill Gates is recognized as richest man over the
globe and is co-founder of Microsoft.
• He is an American software developer, entrepreneur,
investor, author and born on 1955 in United States
• He is a technologist and business leader with an
amazing business strategy and tactics

Anshu Gupta
• Anshu Gupta is successful Indian social entrepreneur.
• He is born in 1970 and popularly known as Clothing
Man.
• He founded Goonj which is non- governmental
organization headquartered in Delhi

Entrepreneur situational factors, similarities and differences
• The above entrepreneur similarities are that they all are highly educated and has good
communication skills.
• Entrepreneurs are efficient in their personal and professional skills.
• These entrepreneurs belongs to good reputed families.
• Earlier they were not known by the general peoples but at the later stage from innovations and
creations of new ideas mark them successful in their life.

Characteristics and traits for entrepreneurial
• For the entrepreneur it is important to have specific skills and knowledge which can be
beneficial for their business.
• For starting a new business it is important to clear the visions therefore entrepreneur
must have a curiosity about their work.
• Curiosity for work can develop the ideas which can be use for the business purposes.

Backgrounds and experiences either hinder or foster entrepreneurship
• Personal aspects and background plays an important role, as for the entrepreneur their family,
cultural education background plays a crucial role for their growth.
• If entrepreneur grown up in the poverty it limits their creativity in the business approach.
• It enables them to go for the self employment but due to lack of resources can also cause
hindrance in their development.

Entrepreneurial mindset
• Entrepreneurial mindset allow entrepreneur to handle and manage
business organization in hostile environment.
• When a business fall under any hostile situation then entrepreneur
special mindset to solve the problem, in difficult and hostile
situation.
• Entrepreneur use tenacity mindset to handle and manage
enterprise in the hostile situation.
• Entrepreneur use tenacity mindset to provide management skills in
the business organization.

Conclusion drawn from comparing and contrasting
various entrepreneurs
• From the above analysis it can conclude that entrepreneurs personal backgrounds and experiences
have high effect on business performances and helps in foster or hinder the entrepreneurship.
• The backgrounds consist of family members or friends support, motivational people in life and
financial backgrounds also reflects the entrepreneur success.
• Entrepreneurs works under many constraints present in the external environment which may
political, legal, social etc.

REFERENCES
• Almahry, F.F., Sarea, A.M. and Hamdan, A.M., 2018. A review paper on entrepreneurship education and
entrepreneurs’ skills. Journal of Entrepreneurship Education 21(1) pp.1-7.
• Bayraktar, A. and et.al., 2020. Mindful entrepreneurial marketing for small and medium enterprises. In Handbook of
Entrepreneurship and Marketing. Edward Elgar Publishing.
• Mazzarol, T. and Reboud, S., 2020. The Entrepreneur. In Entrepreneurship and Innovation (pp. 35-61). Springer,
Singapore.
• Jufri, M. and Wirawan, H., 2018. Internalizing the spirit of entrepreneurship in early childhood education through
traditional games. Education+ Training.
• Martin-Sanchez, V., Contín-Pilart, I. and Larraza-Kintana, M., 2018. The influence of entrepreneurs’ social referents
on start-up size. International Entrepreneurship and Management Journal. 14(1). pp.173-194.
• Lee, B., 2019. Human capital and labor: the effect of entrepreneur characteristics on venture success. International
Journal of Entrepreneurial Behavior & Research.