Exploring Entrepreneurship: Traits, Skills, and Background Factors

This report provides an overview of entrepreneurship and small business management, focusing on the traits, characteristics, and skills of successful entrepreneurs like Peter Jones, Socorro Ramos, and Mark Zuckerberg. It delves into the aspects of entrepreneurial personality, measured through the OCEAN model, and examines how background and experience can either hinder or foster entrepreneurial ventures. The report concludes that entrepreneurship plays a crucial role in economic growth, highlighting the significance of micro and small businesses in generating employment and providing goods and services. It references various studies to support its analysis of the factors that contribute to the success of entrepreneurs and their impact on the economy.

Entrepreneurship and Small
Business Management

Table of content
 Introduction
 Traits, characteristics and skills of an entrepreneur
 Aspects of entrepreneurial personality
 how background and experience can hinder or foster entrepreneurship
 Conclusion
 References

Introduction
 An entrepreneur is an individual who searches for
an opportunity which is unique and exploits the
same in order to come up with products and
services which solves an existing need within the
society. An entrepreneur is basically visionary
according to its personality in terms of his or her
business

Traits, characteristics and skills of an
entrepreneur
 There are different kinds of entrepreneurs and all have
different kinds of characteristics, traits and skills
according to their personality.
 Peter Jones: He is a real television personality and also a
British entrepreneur who have interest in new
technologies and different kinds of services.

Continue …
 Socorro Ramos: She is known as Nanay Coring and is
the founder of National Book Store. It is the largest book
store chain in Philippines(Socorro Ramos: National
Book Stores Matriarch’s Success Story).
 Traits: She is a hard working lady and also have good
confidence level in terms of achieving her targets within
a period of time.

Continue…
 Mark Zuckerberg: Mark Zuckerberg is an American media magnate, internet entrepreneur and
also a philanthropist.
 Characteristics: Mark Zuckerberg is always ready to go beyond his comfort zone and also well
aware about his business opportunity and growth as well. He has ability to face criticism and also
have assertiveness in his nature
 Skills: Mark Zuckerberg has good communication skills and also have problem solving attitude as
well(About Mark Zuckerberg).

Aspects of entrepreneurial personality
 Aspects of entrepreneurial personality
can be measured through a test which
is named as OCEAN model. This
model is basically used for measuring
a person's most important personality
characteristics and also help in
identifying exact job role which
matches according to an individual
personality.

Continue…
 Openness to experience: It is a kind
of general appreciation for art,
emotion, adventure and variety of
experience. People who are open for
new experience are intellectually
curious, open to emotion and willing
to try new things

Background and experience can hinder
or foster entrepreneurship
 Background of Peter Jones: He was
born in Berkshire, England and his
passion towards tennis and business
makes him independent. Peter set up
his first company at the age of 16 and
by the age of 28 he became the
youngest head of PC business at
computer firm Siemens Nixdorf.

Continue..
 Background of Socorro Ramos:
She was born into a family of
shopkeepers and she also worked for
her brother-in-law. Socorro was
thrown into poverty after losing the
family business and after her
marriage, she founded national book
store in the year of 1940.

Continue..
 Background of Mark Zuckerberg:
Mark Zuckerberg was born in White
Plains, New York, his father is a
dentist and his mother is a
psychiatrist. He has good support in
terms of financial manner and also
studied from Harvard University.

Conclusion
The above stated report concludes that entrepreneurship plays a very important role for an
economy growth. There are different kinds of entrepreneur which includes, small scale, large
and social entrepreneur. All these kind of entrepreneurs have some similarities and differences
as well. Within an economy, micro and small businesses play a very essential role in terms of
growth of any country’s economy. Impact of micro and small businesses on an economy creates
a great difference in terms of generation of employment and creation of goods and services for a
country.