Report: Entrepreneurial Traits, Skills, and Personality Aspects

This report provides an overview of entrepreneurship and small business management, examining the characteristics, traits, and skills of successful entrepreneurs. It delves into the attributes of individuals like Alan Sugar, Richard Branson, and Philip Green, highlighting proactive approaches, effective communication, and curiosity. The report also explores the aspects of entrepreneurial personality, referencing the Big Five personality traits. Furthermore, it discusses how background and experience, including lifestyle, education, and family background, influence entrepreneurial activities. The conclusion emphasizes the importance of these factors in identifying business opportunities and differentiating sectors. The report is supported by references to academic research in the field.

ENTREPRENEURSHIP AND
SMALL BUSINESS MANAGEMENT

Table of content
• Introduction
• The characteristics traits and skills of successful entrepreneurs
• Aspects of the entrepreneurial personality
• Background and experience of entrepreneurs
• Conclusion
• References

Introduction
Entrepreneurship is define as process of starting a new business which is majorly small
business with the motive of earning profit. In other words, people who create
entrepreneurship are majorly known as entrepreneur. They are those people who are risk
taker, innovative, invent new techniques and other advance skills.

The characteristics traits and skills of successful
entrepreneurs
There are several characteristics which are usually adopted by entrepreneurs that tends to
differentiate them from managers of an organisations. Moreover, all the successful
entrepreneurs usually inherit the similar capabilities to in order to make their respective
business a giant success. Thus Alan Sugar, Richard Branson as Philip Green have following
entrepreneurs characteristics that have help them in being successful.

Cont.…
Characteristic traits of Alan Sugar
• Proactive Approach
Skills of Alan Sugar
• Intelligent

Cont.…
Characteristic traits of Richard Branson
• Effective Communication
Skills of Richard Branson
• Willingness to listen and learn

Cont.…
Characteristic traits of Philip Green
• Curiosity
Skills of Philip Green
• Motivating

Aspects of the entrepreneurial personality
There are several aspects of entrepreneurial personality that positivity as well as negativity
affects mind-set of an entrepreneur. However, there are four personality theory which helps
in identifying personality of an entrepreneur. Big five personality traits basically includes
the following:
• Openness
• Conscientiousness
• Extraversion
• Agreeableness

Background and experience of entrepreneurs
Entrepreneur's background and their experience can affect its entrepreneurship or activities
of business. There are various factors which have huge impact on entrepreneurship which
includes its family background, lifestyle, education. These factors of experiences and
background which can foster and hider entrepreneurship are mention below:
• Life style
• Education:
• Family background

Conclusion
Hence it can be concluded from the above report, with the help of entrepreneur ventures, it
becomes easy for person in which sector they have to establish their business. Along with
this, they can also differentiate as well as identify similarities in order to know which sector
is better. There are entrepreneurs who consist of advance characteristic traits as well as
skills which set and example in front of audience.

References
• Newth, J., 2016. Social enterprise innovation in context: Stakeholder influence through
contestation. Entrepreneurship Research Journal. 6(4). pp.369-399.
• Spender, J.C., 2014. Business strategy: Managing uncertainty, opportunity, and
enterprise. Oxford University Press.
• Van Der Wijst, D., 2012. Financial structure in small business: Theory, tests and
applications (Vol. 320). Springer Science & Business Media.

Thank You