Entrepreneurship and Small Business: Traits, Skills, and Personality

This presentation provides a comprehensive overview of entrepreneurship and small business management. It begins by defining entrepreneurship and highlighting the characteristics and traits of successful entrepreneurs, using Mark Zuckerberg and Peter Jones as examples. The presentation then delves into the skills required, such as leadership and attention to detail. It further explores the aspects of entrepreneurial personality, including the OCEAN model (Openness, Neuroticism, Extraversion, Agreeableness, and Conscientiousness), and how these traits influence business success. The final section examines the background and experience of entrepreneurs, discussing the impact of education, family background, and social networks. The presentation concludes by emphasizing the diversity among entrepreneurs and the importance of skills and knowledge for running a successful business.

Entrepreneurship and
small business
management

CONTENT COVERED
 Introduction
 Characteristics and traits of entrepreneurs
 Aspects of entrepreneurial personality
 Background and experience of entrepreneurs
 Conclusion
 References

INTRODUCTION
 Entrepreneurship refers to a process of designing and launching business activities
for running a new firm. It will help a individual in pursuing its own vision in a
competitive business environment. An entrepreneur always gives more emphasis
on creating something new for its business, which leads in enhancing its overall
performance
 This PPT is based on traits and skills of entrepreneurs that makes them different
from managers of other business, how the aspect of entrepreneurial personality
reflect its motivation and mind set and various examples of background and
experience that hinder or foster entrepreneurship has also been discussed.

Characteristics and traits of successful
entrepreneurs
An entrepreneur is known for his innovative ideas and skills. Entrepreneur's main aim
is to initiate new and creative business ideas which helps a business concern in profit
maximisation.
 Characteristic of Mark Zuckerberg:
 Innovative Thinking
 Decision Making

Cont.….
Skills of Mark Zuckerberg:
 Leadership:
 Attention to detail

Cont.….
Characteristics of Peter Jones
Passionate:
Optimistic:
Skills of Peter Jones
Confident:
Time Management:

Aspects of entrepreneurial personality
 Personality and traits of one individual are quite different from one individual to
another. These skills help a person in achieving his objectives and targets
within a set time frame. By choosing possessed skills an individual can develop
his skills which further lead to achieving goals and objectives within a set time
frame

Cont.….
 Ocean model of personality has been taken into consideration for studying
behaviour of entrepreneurs which has been explained as under:
 Openness:
 Neuroticism:
 Extraversion:
 Agreeableness:
 Conscientiousness:

Background and experience of entrepreneurship
 Entrepreneurs are the persons who develops a creative and innovative ideas in
order to run their business. The decisions made by entrepreneurs are the
reflection of their background and experience earned from their families. There
are various factors which affects abilities and skills of an entrepreneur that are
discussed below as:
 a) Education: It is considered as the vital factor which helps entrepreneurs in
developing effective and efficient ideas in terms of running their business in a
competitive business market.

Cont.….
 (b) Family background: It is also the important factor that helps entrepreneurs
skills and thinking ability. The entrepreneurs who come from respected family
knows the importance of currency and makes efforts to achieve their specific
goals and objectives. In this context, Mark Zuckerberg came from highly
educated and respected family and they also supported him in its decisions
regarding its career. On the other hand, Peter Jones family is not that educated
but they understand and supports innovative ideas of Peter Jones.

Cont.….
 c) Social networks: The social network of entrepreneur's family also plays a
major role in providing a platform for their child. It will also helps entrepreneurs
in gaining some additional experience in their respective field. In this regard,
Mark Zuckerberg got the opportunity in knowing dynamic environment of
entrepreneurship, which helps him identifying its main aims and objectives. On
the other hand, Peter Jones learns the amount of hard that one has to take to
satisfy its basic need, which helps him knowing importance of money.

CONCLUSION
 From the above mentioned report it has been concluded that, there are various
kinds of entrepreneurs and all of them are quite different from one another. All
these entrepreneurial ventures are different from one another and perform their
activities according to the needs. For instance, large enterprises work with the
motive of gaining benefits but social enterprise provides services with the motive
of making other lives better and easier. Moreover, to run these businesses it is
important that a person has ample of skills and knowledge.

REFERENCES
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Choi, N. and Majumdar, S., 2014. Social entrepreneurship as an essentially contested
concept: Opening a new avenue for systematic future research. Journal of business
venturing. 29(3). pp.363-376.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on
entrepreneurial attitudes and intention: Hysteresis and persistence. Journal of Small
Business Management. 53(1). pp.75-93.
Fisher, G., 2012. Effectuation, causation, and bricolage: A behavioral comparison of
emerging theories in entrepreneurship research. Entrepreneurship theory and
practice. 36(5). pp.1019-1051.

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