BTEC HNC Business: Entrepreneurship and Edison's Skills

This report delves into the entrepreneurial characteristics of Thomas Edison, contrasting his traits and skills with those of other business managers. It explores the importance of background and experience for entrepreneurs, emphasizing the significance of making correct decisions, reducing costs, and fostering innovation. The report highlights Edison's business-building passion, market knowledge, curiosity, analytical skills, and open-mindedness. It further examines entrepreneurial personality, reflecting entrepreneurial motivation and mindset, and concludes by emphasizing the positive impact of entrepreneurial personalities on business scale, providing a better living standard, and fostering economic growth. The report references several academic papers on small business development and entrepreneurial challenges. This report is for a BTEC HNC Diploma in Business unit on Entrepreneurship and Small Business Management.

Entrepreneurship and
Small Business
Management

Characteristic traits and skills of Thomas Edison
different from other business managers
 Consideration of a bigger fram
 Efearlessness
 Innovation
 Open Minded

CONTINUE....

CONTINUE....

Background and experience of entrepreneur
Background experience is very important for every
entrepreneur to start a new business. Because without
experience now any one start a new businesses so it is
important for every business men or entrepreneur.
Well experience entrepreneur takes a correctives
actions and make a right decisions. They know how
to run a business for a long time and how to reduce
cost of productivity and they also know better ideas
like, how to increase the sale, innovative ideas.

Characteristic traits and skills of Thomas Edison
different from other business managers
 Business Building
 Passion and knowledge of market
 Curiosity
 Analytical
 Consideration of a bigger frame
 Fearlessness
 Innovation
 Open Minded

CONTINUE......

Entrepreneurial personality reflecting
entrepreneurial motivation and mindset
 Value
 Creation
 Curiosity
 Connections

CONCLUSION
As per the above report is focus on entrepreneurial
personality is give positive impact to scale business
Providing a better living standard of the people. So its
important for growth of the economy. Form the
above report is to be focus on very important role in
the economy like creating job, sending products,
providing good and service and generating wealth .
99.7 percentage small scale businesses running now
days and 99.7 percentage firms their and 29.6 million
paid employee in businesses and 19000 are small
businesses on 2014.

REFERENCES
Ayandibu, A. O 2017. The role of Small and Medium Scale Enterprise in local economic
development (LED). Journal of Business and Retail Management Research (JBRMR). 11(2).
pp.133-139.
Carter, S 2015. Barriers to ethnic minority and women’s enterprise: Existing evidence, policy
tensions and unsettled questions. International Small Business Journal. 33(1). pp.49-69.
Ciampi, F 2013. Small enterprise default prediction modeling through artificial neural networks:
An empirical analysis of Italian small enterprises. Journal of Small Business Management.
51(1). pp.23-45.
Cowling, M 2015. What really happens to small and medium-sized enterprises in a global
economic recession? UK evidence on sales and job dynamics. International Small Business
Journal. 33(5). pp.488-513.

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