HNC Business (Pearson) Unit 9: Entrepreneurship Assignment Analysis

This assignment delves into the realm of entrepreneurship and small business management, focusing on the defining characteristics, traits, and skills that distinguish successful entrepreneurs from typical business managers. It highlights the importance of motivation and creativity, using Thomas Edison as a prime example. The analysis explores how entrepreneurial personality traits reflect motivation and mindset, fostering confidence and driving organizational growth. Furthermore, the assignment examines how background and experience can either hinder or foster entrepreneurship, emphasizing the impact of skills and opportunities on company potential. References to key texts on entrepreneurship and small business management support the analysis, providing a comprehensive understanding of the subject.

Entrepreneurshi
p and Small
Business
Management

P5 Determine the characteristics traits and skills of
successful entrepreneurs that differences them
from other business managers.
• Small entrepreneur are the most challenging and innovative, it
creates so many opportunities for itself and for customers as
well.
• Entrepreneur requires much more than just big ideas. New
entrepreneur has unique idea and creativity which the
implement in the business function.
• With the help of skills and entrepreneur characteristics they
enable the things and create new opportunity.
• Thomas Edison is the successful entrepreneur who overcome
from their different life challenges.

Motivation
• Motivation is the tool or technique which acquire motivation
skills and higher opportunity level for an individual.
Motivation is the comes from hard-working and motived to
succeed.
• A successful entrepreneur always motivated and give
motivation to others. Such as Thomas Edison said that “I am
Proud of the fact that I never invented weapons to kill”. They
motivate others that never create wrong things which harms to
others.
• They motivate others to not get success from wrong activities
get success from positive manner. Motivated entrepreneur
always offer new information and technique to other for their
growth.

Creativity
• Thomas Edison is the individual who itself is very creative and
innovation person.
• They investment so many electrical in order to provides
opportunity and great things.
• Moreover, it is the foremost quality of a successful
entrepreneur which only looking for the new opportunity and
growth in order to get the higher success.
• Creativity is the most essential tool for the entrepreneurs.
With the creativity of electrical items today people use
telephone and bulbs.

They are goal oriented
• Successful leaders are always goal oriented towards their ideas
and innovation. They explore the things and thinks too much
to invent something new and different for customers or for the
country development.
• They always inspire their employees and impacting group of
nature. Moreover, successful leaders are always dedicated to
his work or always maintained quality of work in the business
organisation.
• They always tend to be strategic management skills and never
give the process into negative manner. Every successful leader
are the goals oriented and impacting good nature on the
behaviour of their subordinates.

They are committed to their business
• Successful entrepreneur always committed after suffering
from many health issues they still focused on their innovative
idea and give their best efforts to built telephone and bulb.
• Successful entrepreneur are not easily defeated. They view
failure as an opportunity for future success.
• Moreover, another major issues those facing by the
entrepreneur like certain changes, risk factor and influencing
factors etc. Moreover, after career or health failure Thomas
Edison never give up from his vision and give the best efforts
towards their goal and objectives.

P6 How aspects of the entrepreneurial personality
reflect entrepreneurial motivation and mindset
• Entrepreneurial personality makes his confidence and increase
motivation level. All these features' comes from the great
success and great success comes from hard work.
• It creates new opportunity and growth in terms of better
performance. Moreover, successful influencing factor enhance
the opportunity growth for the success of the organisation.
• Entrepreneur is the single person who hold all functions of the
organisation. They overcome from the challenges and making
good environment in the organisation.

P7 Examine using relevant examples how
background and experience can hinder or foster
entrepreneurship.
• Business entrepreneurship skills and experience affect
company potentiality and individual level.
• Successful entrepreneur always get some good opportunity in
order to get the best opportunity growth for their employees.
• Entrepreneur background gives them confidence and different
new skills to perform any task in the organisation.
• They adopt any type of challenges which provides another
great chance for the organisation development.

References
Mariotti, S. and Glackin, C., 2014. Entrepreneurship and small business
management. Pearson Higher Ed.
Schaper, M. T. and et.la., 2014. Entrepreneurship and small business.
Hatten, T. S., 2015. Small business management: Entrepreneurship and
beyond. Nelson Education.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan
Limited.
Mahadea, D. and Kaseeram, I., 2018. Impact of unemployment and income on
entrepreneurship in post-apartheid South Africa: 1994–2015. The Southern
African Journal of Entrepreneurship and Small Business Management.
10(1). p.9.
Schermerhorn, J. and et.al., 2014. Management: Foundations and Applications
(2nd Asia-Pacific Edition). John Wiley & Sons.

THANK YOU