Report: Entrepreneurship and Small Business Management - Analysis
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AI Summary
This report provides a comprehensive overview of entrepreneurship and small business management. It begins by exploring various venture types, including small business entrepreneurship, public, private, and social entrepreneurship, highlighting their goals, structures, risks, and employee numbers. The report then compares and contrasts these ventures, examining their similarities and differences. It investigates entrepreneurship in both the public and corporate sectors, discussing the role of government and individual ownership. Furthermore, the report delves into the scope, development, and growth of entrepreneurial ventures, emphasizing the importance of product quality, customer demand, and sustainable strategies. It analyzes the impact of micro and small businesses on the economy, using data and statistics to illustrate their contribution. Additionally, the report explains the significance of business start-ups in the social economy, emphasizing their role in innovation and job creation. Finally, it outlines the characteristics and skills of successful businesspersons, differentiating them from other managers, and discusses the motivational drivers and mindsets that contribute to entrepreneurial success. The report concludes by considering the positive and negative influences of background and experience on entrepreneurs, providing a holistic understanding of the entrepreneurial journey.

Entrepreneurship and Small
Business Management
Business Management
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Table of contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
LO1. Explore and illustrate the range of venture types that might be considered
entrepreneurial.............................................................................................................................3
P2. Similarities and differences between different entrepreneurial Venture...............................4
M1. Investigating diverse range of entrepreneurial ventures to demonstrate an understanding
of entrepreneurship in both public and corporate sector.............................................................5
D1. Scope, development and growth of entrepreneurial ventures...............................................5
P3. Interpret and assess relevant data and statistics to illustrate how micro and
smallbusinessimpact on the economy..........................................................................................6
P4. Explanation of the importance and business start-ups to the growth of the social economy.
.....................................................................................................................................................7
P5 Characteristics and skills of successful businessman which separates from other managers.
.....................................................................................................................................................8
P6 Motivation drivers and mind set. https://entrepreneurhandbook.co.uk/7-key-intrinsic-
motivational-drivers-of-employees/............................................................................................9
P7 Background and experience positve as well as negative influence over entreprenuer
comparing and contasing examples...........................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
LO1. Explore and illustrate the range of venture types that might be considered
entrepreneurial.............................................................................................................................3
P2. Similarities and differences between different entrepreneurial Venture...............................4
M1. Investigating diverse range of entrepreneurial ventures to demonstrate an understanding
of entrepreneurship in both public and corporate sector.............................................................5
D1. Scope, development and growth of entrepreneurial ventures...............................................5
P3. Interpret and assess relevant data and statistics to illustrate how micro and
smallbusinessimpact on the economy..........................................................................................6
P4. Explanation of the importance and business start-ups to the growth of the social economy.
.....................................................................................................................................................7
P5 Characteristics and skills of successful businessman which separates from other managers.
.....................................................................................................................................................8
P6 Motivation drivers and mind set. https://entrepreneurhandbook.co.uk/7-key-intrinsic-
motivational-drivers-of-employees/............................................................................................9
P7 Background and experience positve as well as negative influence over entreprenuer
comparing and contasing examples...........................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
It is very dominant consider variety of small business enterprises in the range of business. Small
business is the business which is having low capital investment and the number of employees of
that business is also low along with the operation of the business (Palalić, Dana. and Ramadani,
2018). Here in the study different variants of small business with the similarities as well
dissimilarities are discussed. The impact on economy due to small business is studied which also
include social economy development. The characteristics and skills of businessperson is studied
with motivation and mindset reflection. The positive as well s negative impact of background as
well as experience is also discussed.
P1. Explore and illustrate the range of venture types that might be considered
entrepreneurial.
Entrepreneurship is the process of converting the new idea into the business world that can give
the significant contribution in the economy of the nation. There are several successful
entrepreneurs in the world that has created the history (Birkner. and et.al., 2018). The
entrepreneurial ventures are of different types that are as follows-
ï‚· Small business entrepreneurship
The small scale businesses are run by then owners and the having very less number of employees
and the low budget infrastructure and the goal of every small business is to create the market by
connecting more clients and getting the satisfactory profits. The small businesses are generally
run by the family members and it can be proprietor or in partnership and it is having limited
number of resources that can complete only the need at one time. The benefits of the small scale
organization are these create the better and innovative products that can bring them into
competition with the other marketers.
ï‚· Public
These type of businesses start the business with the products that come from innovative minds
and creates the positive image and the brings the revolution in the whole market. These type of
business owners believes that their can bring the revolution in the world and also the Scalable
business take the help from the different capital ventures so that these businesses can run for the
longer time. These organizations promote the new innovations and these businesses are
somewhat related to small business industries but in the Scalable businesses, the employees are
more skilled and innovative.
It is very dominant consider variety of small business enterprises in the range of business. Small
business is the business which is having low capital investment and the number of employees of
that business is also low along with the operation of the business (Palalić, Dana. and Ramadani,
2018). Here in the study different variants of small business with the similarities as well
dissimilarities are discussed. The impact on economy due to small business is studied which also
include social economy development. The characteristics and skills of businessperson is studied
with motivation and mindset reflection. The positive as well s negative impact of background as
well as experience is also discussed.
P1. Explore and illustrate the range of venture types that might be considered
entrepreneurial.
Entrepreneurship is the process of converting the new idea into the business world that can give
the significant contribution in the economy of the nation. There are several successful
entrepreneurs in the world that has created the history (Birkner. and et.al., 2018). The
entrepreneurial ventures are of different types that are as follows-
ï‚· Small business entrepreneurship
The small scale businesses are run by then owners and the having very less number of employees
and the low budget infrastructure and the goal of every small business is to create the market by
connecting more clients and getting the satisfactory profits. The small businesses are generally
run by the family members and it can be proprietor or in partnership and it is having limited
number of resources that can complete only the need at one time. The benefits of the small scale
organization are these create the better and innovative products that can bring them into
competition with the other marketers.
ï‚· Public
These type of businesses start the business with the products that come from innovative minds
and creates the positive image and the brings the revolution in the whole market. These type of
business owners believes that their can bring the revolution in the world and also the Scalable
business take the help from the different capital ventures so that these businesses can run for the
longer time. These organizations promote the new innovations and these businesses are
somewhat related to small business industries but in the Scalable businesses, the employees are
more skilled and innovative.
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ï‚· Private
Large scale businesses are the bigger organizations that have the finite number of resources and
also concentrate on new products and services to the customers for running the business for long
time and the better quality services and the outcomes of customers decides the sustainability of
the company.
ï‚· Social entrepreneurship
This type of organizations are focused on several social problems that the people are facing and
there are lot of social services that provides the qualitative products and services so overcome the
problems. The social entrepreneurship can be profit, non-profit or the hybrid that can create the
better world.
P2. Similarities and differences between different entrepreneurial Venture.
Factors Small business
entrepreneurship
Scalable start-up
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
Goals and
objectives
Small scale
organizations do
not have the
specific and
structured goal and
having very less
number of
resources that can
only achieve the
particular target
and having limited
profit ratio. Small
scale businesses
are generally shops
and the small home
based offices.
This kind of
organizations
promotes the
creative and
innovative ideas
that can bring the
change in the
organization and
also takes the help
of different
business ventures
to stay in the
market for the
longer term and
having the
satisfactory profit
ratio.
Large scale
businesses focuses
on the developing
different type of
products and
services for the
customers and
also and having
the high income
ratio (Spence. and
et.al., 2018).
Social
entrepreneurship
are generally
focused on the
social causes and
provides the
products and
services to
overcome the
problems. These
are generally
profitable non-
profitable and the
hybrid but these
are not generally
focused on profit
and loss.
Large scale businesses are the bigger organizations that have the finite number of resources and
also concentrate on new products and services to the customers for running the business for long
time and the better quality services and the outcomes of customers decides the sustainability of
the company.
ï‚· Social entrepreneurship
This type of organizations are focused on several social problems that the people are facing and
there are lot of social services that provides the qualitative products and services so overcome the
problems. The social entrepreneurship can be profit, non-profit or the hybrid that can create the
better world.
P2. Similarities and differences between different entrepreneurial Venture.
Factors Small business
entrepreneurship
Scalable start-up
entrepreneurship
Large company
entrepreneurship
Social
entrepreneurship
Goals and
objectives
Small scale
organizations do
not have the
specific and
structured goal and
having very less
number of
resources that can
only achieve the
particular target
and having limited
profit ratio. Small
scale businesses
are generally shops
and the small home
based offices.
This kind of
organizations
promotes the
creative and
innovative ideas
that can bring the
change in the
organization and
also takes the help
of different
business ventures
to stay in the
market for the
longer term and
having the
satisfactory profit
ratio.
Large scale
businesses focuses
on the developing
different type of
products and
services for the
customers and
also and having
the high income
ratio (Spence. and
et.al., 2018).
Social
entrepreneurship
are generally
focused on the
social causes and
provides the
products and
services to
overcome the
problems. These
are generally
profitable non-
profitable and the
hybrid but these
are not generally
focused on profit
and loss.
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Number of
employees
Small scale
organizations are
run the owner also
having less number
of employees that
can be 20-50 and
generally focused
on customers.
The number of
employees
depends on the
size and structure
of the company.
Large scale
organizations are
having more than
1000 employees.
The number of
employees in
social businesses
are depends on the
size of the
organizations.
Structure Small scale
business are not
having proper
organizational
structure and also
run with the
proprietor or in
partnership
(Kunaka. and
Moos, 2019).
Mainly
corporations or the
limited partnership
to gain the high
profit.
The large scale
organizations are
having large and
systematic
structure and
these can be
public and private
companies.
Social
organizations are
run by the trustees
to achieve the
common goal.
Risks Small scale
businesses are
having less
competitive
scenario.
The risk level is
high due to high
amount of finance
and the having the
pressure to return
the amount to the
investors.
The risk rate with
the large scale
organizations are
generally
manageable
because the
selling and the
profit rate is very
high.
The risk with the
social
organizations are
very low because
the government
bodies support the
social issues.
employees
Small scale
organizations are
run the owner also
having less number
of employees that
can be 20-50 and
generally focused
on customers.
The number of
employees
depends on the
size and structure
of the company.
Large scale
organizations are
having more than
1000 employees.
The number of
employees in
social businesses
are depends on the
size of the
organizations.
Structure Small scale
business are not
having proper
organizational
structure and also
run with the
proprietor or in
partnership
(Kunaka. and
Moos, 2019).
Mainly
corporations or the
limited partnership
to gain the high
profit.
The large scale
organizations are
having large and
systematic
structure and
these can be
public and private
companies.
Social
organizations are
run by the trustees
to achieve the
common goal.
Risks Small scale
businesses are
having less
competitive
scenario.
The risk level is
high due to high
amount of finance
and the having the
pressure to return
the amount to the
investors.
The risk rate with
the large scale
organizations are
generally
manageable
because the
selling and the
profit rate is very
high.
The risk with the
social
organizations are
very low because
the government
bodies support the
social issues.

M1. Investigating diverse range of entrepreneurial ventures to demonstrate an understanding of
entrepreneurship in both public and corporate sector.
In public sector
The public sector organizations are controlled and governed by the government and also
invest the high amount on the organizations so that the company can provide the better quality
products and services to the customers and also focuses on the social welfare and not on profits
(Abdullah, Hadi. and Dana, 2018).
In corporate sectors
These organizations are owned by individuals or it can be public. These organizations
develop the better marketing strategies to provide the qualitative products and services to gain
the competitive advantages.
D1. Scope, development and growth of entrepreneurial ventures.
There are different vision, mission and the objectives of the organizations that can be positive
and negative and this three factors decides the future of an organizations. If the organizations
develops the products and services to meet the needs of the customers and if the positive
feedback is received from the customers then this can be profitable for the company to sustain
for the longer term (Harrison. and Leitch, C.M, 2018). The growth of different entrepreneurial
ventures dependent on their quality of products and services, how much the company can meet
the demand of the customers, pricing and sustainable strategies.
P3. Interpret and assess relevant data and statistics to illustrate how micro and
smallbusinessimpact on the economy.
In every organization, the goal is to provide the better quality products and services to the
customers to gain the high profit (Rexhepi, Ramadani. and Ratten, 2018). As the new ideas and
innovations are generating day-by-day, the micro and small scale organizations are regularly
taking place and giving the competition to the bigger companies.
entrepreneurship in both public and corporate sector.
In public sector
The public sector organizations are controlled and governed by the government and also
invest the high amount on the organizations so that the company can provide the better quality
products and services to the customers and also focuses on the social welfare and not on profits
(Abdullah, Hadi. and Dana, 2018).
In corporate sectors
These organizations are owned by individuals or it can be public. These organizations
develop the better marketing strategies to provide the qualitative products and services to gain
the competitive advantages.
D1. Scope, development and growth of entrepreneurial ventures.
There are different vision, mission and the objectives of the organizations that can be positive
and negative and this three factors decides the future of an organizations. If the organizations
develops the products and services to meet the needs of the customers and if the positive
feedback is received from the customers then this can be profitable for the company to sustain
for the longer term (Harrison. and Leitch, C.M, 2018). The growth of different entrepreneurial
ventures dependent on their quality of products and services, how much the company can meet
the demand of the customers, pricing and sustainable strategies.
P3. Interpret and assess relevant data and statistics to illustrate how micro and
smallbusinessimpact on the economy.
In every organization, the goal is to provide the better quality products and services to the
customers to gain the high profit (Rexhepi, Ramadani. and Ratten, 2018). As the new ideas and
innovations are generating day-by-day, the micro and small scale organizations are regularly
taking place and giving the competition to the bigger companies.
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In UK, there are several customer centric companies that are significantly contributed in the
nation and in the graph it can be seen that the micro and small businesses are giving the tough
competition to the large scale companies and there are more than 4 million SMEs are established
across UK which almost covers 90-95% of businesses in the country. So, the revenue generation
from the businesses are very high and also the employment ratio of these organizations are very
high that is 40-50% so the SMEs are the main reason of contributing in economy and GDP of the
UK.
nation and in the graph it can be seen that the micro and small businesses are giving the tough
competition to the large scale companies and there are more than 4 million SMEs are established
across UK which almost covers 90-95% of businesses in the country. So, the revenue generation
from the businesses are very high and also the employment ratio of these organizations are very
high that is 40-50% so the SMEs are the main reason of contributing in economy and GDP of the
UK.
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According to the graph, the SMEs are showing the high growth rate as compare to medium and
large scale organizations and this can be the major threat for the companies and also the turnover
and the business growth of this organization is 99.3% and 37% which is very high as compare to
large scale businesses (Holmes. and Schaper, 2018). The small and micro scale organizations are
having the innovative idea that gives the significant hike to these organizations. These
organizations are generally innovator, non-innovator, exporter and non-exporter and these
business are now capable of generating the better revenue and also contribute in the economy
and the growth of the nation.
P4. Explanation of the importance and business start-ups to the growth of the social economy.
The startups bring the revolution in the market and this changes the world completely and this
also influenced the different countries because the startups are come from the different
innovative ideas and this innovative ideas helps in generating the products and services to meet
the needs of the customers (Mets, T., Sauka. and Purg, 2018). Start-ups also captures the new
market very fastly and efficiently in a very less time and this gives the better growth and
provides the stability to the company and also gives the competition to the other existing
large scale organizations and this can be the major threat for the companies and also the turnover
and the business growth of this organization is 99.3% and 37% which is very high as compare to
large scale businesses (Holmes. and Schaper, 2018). The small and micro scale organizations are
having the innovative idea that gives the significant hike to these organizations. These
organizations are generally innovator, non-innovator, exporter and non-exporter and these
business are now capable of generating the better revenue and also contribute in the economy
and the growth of the nation.
P4. Explanation of the importance and business start-ups to the growth of the social economy.
The startups bring the revolution in the market and this changes the world completely and this
also influenced the different countries because the startups are come from the different
innovative ideas and this innovative ideas helps in generating the products and services to meet
the needs of the customers (Mets, T., Sauka. and Purg, 2018). Start-ups also captures the new
market very fastly and efficiently in a very less time and this gives the better growth and
provides the stability to the company and also gives the competition to the other existing

companies in the market. The biggest advantage of the startups are it hires the new and
innovative minds and this reduces the unemployment ratio in the country but the only problem
with the startups are it cannot provide the better pay scale because of the lack of capital and
limited resources. Many startups are associated with different types of CSR activities related to
social, environmental and economic problems to enhance brand value. Some startups are related
to social causes and the success rate of these startups are very high so that the government also
support this kind of businesses.
P5. Characteristics and skills of successful businessman which separates from other managers.
Characteristics trait
The are various characteristics of a successful businessperson and the same are
mentioned below:
Taking risk
Successful entrepreneurs are always ready to take risk, the entrepreneurs are profit oriented
person who sees risk as a reward (Nasir. and Hamelin, 2018). This quality is not in other
manager who fears to take risk thinking it is better to play a secure game.
Flexible
Successful businessman are flexible in any change which required to be made in the organization
and follows the Kaizen theory which is change for better whereas other unsuccessful managers
feel lazy for the change and same result in loss for the firm.
Passion
Passion is the main characteristics of the successful entrepreneur in which hey are passionate
about what they what to achieve in their life (van Scheers, 2018). They effectively plan for future
in which they set goals in advance and they feel motivated due this always. Even at the hard time
they take the hard time as a challenge and which drives them to perform better even in the worst
situation. If the other managers are compared they are not passionate about the business and take
the business lightly.
Self motivation
Businesspersons who are successful are always self motivated. They ignore what they do not
have and focus on what are means they are having. This helps them they achieve the desired
results with the available resources. In order to be self motivated the businessman used to make
them fit so that they can work extra. Self motivation build in them burning desire which helps
innovative minds and this reduces the unemployment ratio in the country but the only problem
with the startups are it cannot provide the better pay scale because of the lack of capital and
limited resources. Many startups are associated with different types of CSR activities related to
social, environmental and economic problems to enhance brand value. Some startups are related
to social causes and the success rate of these startups are very high so that the government also
support this kind of businesses.
P5. Characteristics and skills of successful businessman which separates from other managers.
Characteristics trait
The are various characteristics of a successful businessperson and the same are
mentioned below:
Taking risk
Successful entrepreneurs are always ready to take risk, the entrepreneurs are profit oriented
person who sees risk as a reward (Nasir. and Hamelin, 2018). This quality is not in other
manager who fears to take risk thinking it is better to play a secure game.
Flexible
Successful businessman are flexible in any change which required to be made in the organization
and follows the Kaizen theory which is change for better whereas other unsuccessful managers
feel lazy for the change and same result in loss for the firm.
Passion
Passion is the main characteristics of the successful entrepreneur in which hey are passionate
about what they what to achieve in their life (van Scheers, 2018). They effectively plan for future
in which they set goals in advance and they feel motivated due this always. Even at the hard time
they take the hard time as a challenge and which drives them to perform better even in the worst
situation. If the other managers are compared they are not passionate about the business and take
the business lightly.
Self motivation
Businesspersons who are successful are always self motivated. They ignore what they do not
have and focus on what are means they are having. This helps them they achieve the desired
results with the available resources. In order to be self motivated the businessman used to make
them fit so that they can work extra. Self motivation build in them burning desire which helps
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them achieve whatever they want in life. Whereas the other manager lacks in doing yoga or
workout which make them fit and ready for work.
Skills
Time management skills
Generally the entrepreneurs are early birds who used to manage the time by performing the
difficult task early in the morning (Donckels. and Miettinen, 2019). They used to manage the
work by completing the work on time. This allows them to be stress free. The successful
businessman always has extra time which allows them to take extra work. Other managers
excuses that they do not have time to complete the task. They have poor time management skills
and they used to perform easy task first which creates stress in their mind.
Financial management skills
Person with successful business manages finance is very effective manner in which they wisely
invest and spend money on valuable things. Man with success does not spend money on wasteful
activities. Unsuccessful businessman used to spend money on unnecessary activities which do
not result in any valuable output.
Marketing skills
Successful person have the ability to attract people and they can easily convince people to buy
their product. They have the Charisma which makes the audiece trust them and they accepts the
offer. The old businessman used to hesitate in talking with the audiece and they feel shy to make
a deal.
P6. Motivation drivers and mind set.
There are various drivers which motivates the owner to be on track and the same are discussed
below:
Motivation
Achievement
Achievement and the hope of achievement motivates the business owner to stay on the track and
perform well in the business. The small achievements are the cause of big achievements, For
example if the sales target of 1 year was 10000 ponds and the sales team has achieved the target
of 9000 ponds. Then this will motivate the employees to achieve better next year and this will
lead to drive more sales due to motivation factor.
Authority
workout which make them fit and ready for work.
Skills
Time management skills
Generally the entrepreneurs are early birds who used to manage the time by performing the
difficult task early in the morning (Donckels. and Miettinen, 2019). They used to manage the
work by completing the work on time. This allows them to be stress free. The successful
businessman always has extra time which allows them to take extra work. Other managers
excuses that they do not have time to complete the task. They have poor time management skills
and they used to perform easy task first which creates stress in their mind.
Financial management skills
Person with successful business manages finance is very effective manner in which they wisely
invest and spend money on valuable things. Man with success does not spend money on wasteful
activities. Unsuccessful businessman used to spend money on unnecessary activities which do
not result in any valuable output.
Marketing skills
Successful person have the ability to attract people and they can easily convince people to buy
their product. They have the Charisma which makes the audiece trust them and they accepts the
offer. The old businessman used to hesitate in talking with the audiece and they feel shy to make
a deal.
P6. Motivation drivers and mind set.
There are various drivers which motivates the owner to be on track and the same are discussed
below:
Motivation
Achievement
Achievement and the hope of achievement motivates the business owner to stay on the track and
perform well in the business. The small achievements are the cause of big achievements, For
example if the sales target of 1 year was 10000 ponds and the sales team has achieved the target
of 9000 ponds. Then this will motivate the employees to achieve better next year and this will
lead to drive more sales due to motivation factor.
Authority
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The power to take decision also motivates the employees to employees to work better in the
organization. If the employees are capable and demand to be a team leader then the employee
will definitely perform better in the job and the same lead to better result for the company
(Marzi. and et.al., 2018). This will happen because the person is voluntarily ready to become a
team leader and this is because of sense of authority which is driving motivation.
Independence
If the employee is free to take the decision then the same will drive within the employee
the sense of motivation. This will happen because the employee will see that they are treated
well in the company by allowing them to take decision for the company then it is also the our
responsibility to treat well the company.
Esteem
Esteem is the factor which takes into account the reputation of the employee and the same result
in creating sense of fear for the bad things. Esteem drives the employees to perform better in the
company (Borges. and et.al., 2018) . Self esteem result in better reputation of the employees in
front of the manager and the same drives them to perform better at the workplace. Self esteem
stimulates the employees to learn better and increase the productivity of the company better by
driving motivation among them
Mindset
The meaning of mind set is established set of attitude or belief in which the one is ready to deal
with any situation. Mind set plays a dominant role in the success of an organisation. Positive
mind set will lead to positive actions and negative mind set will lead to negative action. It is must
for an entrepreneur to have a positive outlook towards the work and the leader must be optimistic
so that the positive energy can be shared with subordinates (Welsh. and Kaciak, 2018). If the
leader hi self is not motivated and charged then it will lead to passing of negative energy among
its employees which will lead to employees feeling less motivated and less focused towards the
work. Mind set includes the approach of how the leader can interact with the members, how the
leader can convince the employees to work better and achieve deadlines on time, and also it
involves the confidence level of the leader.
organization. If the employees are capable and demand to be a team leader then the employee
will definitely perform better in the job and the same lead to better result for the company
(Marzi. and et.al., 2018). This will happen because the person is voluntarily ready to become a
team leader and this is because of sense of authority which is driving motivation.
Independence
If the employee is free to take the decision then the same will drive within the employee
the sense of motivation. This will happen because the employee will see that they are treated
well in the company by allowing them to take decision for the company then it is also the our
responsibility to treat well the company.
Esteem
Esteem is the factor which takes into account the reputation of the employee and the same result
in creating sense of fear for the bad things. Esteem drives the employees to perform better in the
company (Borges. and et.al., 2018) . Self esteem result in better reputation of the employees in
front of the manager and the same drives them to perform better at the workplace. Self esteem
stimulates the employees to learn better and increase the productivity of the company better by
driving motivation among them
Mindset
The meaning of mind set is established set of attitude or belief in which the one is ready to deal
with any situation. Mind set plays a dominant role in the success of an organisation. Positive
mind set will lead to positive actions and negative mind set will lead to negative action. It is must
for an entrepreneur to have a positive outlook towards the work and the leader must be optimistic
so that the positive energy can be shared with subordinates (Welsh. and Kaciak, 2018). If the
leader hi self is not motivated and charged then it will lead to passing of negative energy among
its employees which will lead to employees feeling less motivated and less focused towards the
work. Mind set includes the approach of how the leader can interact with the members, how the
leader can convince the employees to work better and achieve deadlines on time, and also it
involves the confidence level of the leader.

P7. Background and experience positve as well as negative influence over entreprenuer
comparing and contasing examples
Backgroud and experience
Background plays a major role in the success and failure of a businessman. There are driving
factors such as poor financial background which motivates businessman to be richer. Some
negative incidence that happened in their life which motivated them to do something bigger in
life. Lack of something due to which the entrepreneur himself has suffered and this leads to
emergence of filling that need for the coming generation so that they do not face the problems
faced by the owner
Experience also plays a major role for an entrepreneur, by which the owner become more
clam and take decision wisely (Palalić, Dana. and Ramadani, 2018). It is seen that the
experienced entrepreneurs more likely to invest in a better platform in order to get better revenue
whereas new investor may suffer losses. An experienced entrepreneur is more likely to risk
calculative because if experience in business strategy implementation.
Positive influence
If the background of an entrepreneur is not financially good then the same makes the
person internally strong and rough tough. This makes the businessman to be calm and constant in
the ups and downs in life. Lack of facility motivates the businessman to invent things for the
betterment of the society so that life become better and easier of the living beings. This gives
way to innovation and new ideas in the mind and same results in bringing revolution in the
business.
Negative influence
Some businessman in spite of having talent unable to grow there business due poor
financial background (Birkner. and et.al., 2018). This stops them to invest at the better
opportunity in spite of having good ideas. Poor background also results in creating a poor belief
among the businessman which hinders them to take risk in life and they save money instead of
investing in any opportunity.
Comparing and contrasting example.
If the positive things in the background and experience is compared with negative things than
there are more positive side of it (Spence. and et.al., 2018). For example there is an entrepreneur
comparing and contasing examples
Backgroud and experience
Background plays a major role in the success and failure of a businessman. There are driving
factors such as poor financial background which motivates businessman to be richer. Some
negative incidence that happened in their life which motivated them to do something bigger in
life. Lack of something due to which the entrepreneur himself has suffered and this leads to
emergence of filling that need for the coming generation so that they do not face the problems
faced by the owner
Experience also plays a major role for an entrepreneur, by which the owner become more
clam and take decision wisely (Palalić, Dana. and Ramadani, 2018). It is seen that the
experienced entrepreneurs more likely to invest in a better platform in order to get better revenue
whereas new investor may suffer losses. An experienced entrepreneur is more likely to risk
calculative because if experience in business strategy implementation.
Positive influence
If the background of an entrepreneur is not financially good then the same makes the
person internally strong and rough tough. This makes the businessman to be calm and constant in
the ups and downs in life. Lack of facility motivates the businessman to invent things for the
betterment of the society so that life become better and easier of the living beings. This gives
way to innovation and new ideas in the mind and same results in bringing revolution in the
business.
Negative influence
Some businessman in spite of having talent unable to grow there business due poor
financial background (Birkner. and et.al., 2018). This stops them to invest at the better
opportunity in spite of having good ideas. Poor background also results in creating a poor belief
among the businessman which hinders them to take risk in life and they save money instead of
investing in any opportunity.
Comparing and contrasting example.
If the positive things in the background and experience is compared with negative things than
there are more positive side of it (Spence. and et.al., 2018). For example there is an entrepreneur
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