BTEC HND Business: Entrepreneurship Task 2 Report Analysis

This report, created for a BTEC HND in Business unit on Entrepreneurship and Small Business Management, analyzes the characteristics and experiences of successful entrepreneurs. It focuses on Alan Michael Sugar and Laurence Graff, examining their motivational drivers, traits, and the influences that shaped their entrepreneurial journeys. The report delves into the concepts of self-motivation, passion, confidence, independence, and flexibility as critical elements of entrepreneurial success. It also includes a review of the entrepreneurs' family backgrounds and their impact on their careers. The report concludes with a summary of the key findings and references supporting literature on entrepreneurship and small business development. This analysis provides a comprehensive understanding of the entrepreneurial landscape and strategies for business success.

Entrepreneurship and Small
Business Management
Task 2

Cover Content
 Introduction
 Alan Micheal Sugar
 Laurence Graff
 Characteristics Of Successful Entrepreneurs

Continue…..
 Experience that influenced the entrepreneur negatively and
positively
 Conclusion
 References
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Introduction
 Entrepreneur is an individual who are working as an employee,
founds and runs a small business assuming all the risks and reward
the venture.

Alan Michael Sugar
 Entrepreneur is an individual who
are working as an employee, founds
and runs a small business assuming
all the risks and reward the venture.

Characteristics Of Successful
Entrepreneurs
 Self motivation- One of the most important characteristic of
entrepreneurs. When they are passionate for any work they and
they feel demotivate. They get motivation by own self through
reading motivational novels, biographies and others.

Motivational drivers
 Passion- Alan Sugar have this quality and use it as motivational
driver. He do their work with passion and says that if person have
passion can do any work. Passion and dedication is most
important for doing work properly

Traits
 The ability to think before speak- It is the important traits and
skill of Alan Sugar. According to him, he has the ability to think
and they think before speaking and doing anything because the
skill of thinking generate various ideas fro the development of the
business.

Laurence Graff
 He is an entrepreneur who founded the
world famous diamond jewellery business
Graff jewellery in 1960.

Characteristics
 Confidence- Laurence have confidence in his business, he does
not ask questions about whether he succeed or whether failure.
He is confident with the knowledge that he will make his business
succeed.

Motivational drivers
 Independence- Laurence have the quality of independence and
they are doing work to success their dreams and doing work in a
jewellery shop he motivated and have a dream and now he come
it true.

Traits
 Flexibility- Being able to accept changes and challenges, he put
their ideas or business in front of people and make successful it.

Experience that influenced the
entrepreneur negatively and positively
Alan Michael Sugar Laurence Graff
Family-Alan Sugar was born in 24
March 1947 and grew up in London
Borough of Hackney and born in a
Jewish family. .
Family- Laurence Graff was born in
1938 in London's east End and born
in a Jewish family.

Conclusion
 This task concluded about two successful entrepreneurs of British
Alan Micheal Sugar owner of Amstrad and Laurence Graff owner
of Graff Diamond.

References
 Martin, B. C., McNally, J. J. and Kay, M. J., 2013. Examining the
formation of human capital in entrepreneurship: A meta-analysis
of entrepreneurship education outcomes. Journal of Business
Venturing.28(2).pp.211-224.
 Sahut, J. M. and Peris-Ortiz, M., 2014. Small business,
innovation, and entrepreneurship. Small Business
Economics.42(4). pp.663-668.