Entrepreneurship and Management: Skills, Traits & Personality

This report provides an analysis of entrepreneurial skills, traits, and personalities, focusing on successful entrepreneurs and small business management. It examines the characteristics, traits, and skills of successful entrepreneurs, highlighting innovative thinking and leadership. The report reflects on entrepreneurial personalities using the OCEAN personality model, with specific examples of Elizabeth Gooch and Tom Mercer. It also explores the background and experience of these entrepreneurs, along with Bill Gates, to understand how their journeys contributed to their success. The report concludes by emphasizing the importance of diverse skill sets and experiences in fostering entrepreneurial development and productivity. Desklib provides past papers and solved assignments for students.

Entrepreneurship and Small
Business Management
Part 2.

TABLE OF CONTENTS
 Introduction
 Characteristics, traits and skills of successful entrepreneurs
 Reflect to entrepreneurial personality
 Background and experience
 Conclusion
 References

INTRODUCTION
Entrepreneurship is define about the task activity
and involving of creativity generate the business
development by maintaining overall organisation so
that large amount of profit can be made. In terms of
small business management they have less capital
and not having large number of employees but they
generate more opportunity in order jobs and other
activities that plays an important role in specific
economy. In part B. There is analysis of
entrepreneur skills and development along with
personality model used to define two selected
entrepreneurs individually.

Characteristics, traits and skills of
successful entrepreneurs
There are many entrepreneurs with unique
skills, characteristics, and skills customised
from ordinary people to successful and goal-
oriented entrepreneurs in the UK. The main
credits in which individual people get
converted into innovative entrepreneurs is
their skills, experience and knowledge power.

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Elizabeth Gooch
Skills:
Innovative thinking: According to this skill, it is
important for the entrepreneurs to creative
ideas for resolving issues and rapid decision-
making within the workoplace. In the
perspective of Elizabeth Gooch, she becomes
successful entrepreneurs because she has
quick decision-making power and desires to
earn success effectively.

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Tom Mercer:
Skill:
Leadership: According to this skill,
entrepreneurs need to lead their
employees towards their desired goals
effectively. In the perspective of Tom
Mercer, as he gets supported by his
people and Tom has good leadership
quality where he gathered the team to
convince them about business idea to
successful accomplish effectively.

Reflect to entrepreneurial
personality
Entrepreneurs have several different
personalities, traits and skills which
differentiate from other people such as a
manager. These factors also represent the
enterpreniual motivation and havig better
mindset as well. Using the OCEAN
personality model to identify Elizabeth
Gooch and Tom Mercer entrepreneurs
based on 5 models.

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Extroversion: According to this
personality model,
enterprenuer are the one who
keep themselves energetic,
enthusatic, talkative. Tom
Mercer is an Extroversion
personality because they like
to involve with people, share
his motivational thoughts,
guide people, etc.
.

Social Impact By Entrepreneurs
…Elizabeth Gooch
He contributed towards United Kingdom’s society for development as
well participation in CSR activities for promote not environmental cause that
would prevail more disadvantages effectively.
Tom Mercer:
His communication power motivate or encourage society towards their
goals and objectives. Along with, Peter Jones promotes social activities that
prevails positive outcomes in society like health precautions etc.

Background and Experience
As Enterprenurer runs their business for more earning
profit through better providing their product and
services towards customer. The experience and
background of entrepreneurs helps and guide them
towards gaining success systematic process. In
following, there are detail background and
experience of two seleced entrepreneurs that helps
to become successful are:
Local Entrepreneur
Elizabeth Gooch:
Background: She was born on 27 June 1757 in
Edwinstowe, United Kingdom. She left her job
earlier, where she was pursued her first job at the
age of 18.
She left the firm again and gathered small amount of
money from her friends and family. She collected
£1,000 from the friends and family for starting her
own company.

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Social Entrepreneur.
Tom Mercer:
Background: He was born November 10,
1964 and graduated from Cambridge
University. Tom also has the experience of
working as a management consultant in the
Brain and Co. which is based in London.
While working within different companies,
he always wants to think about new ideas on
which they can start his new business. He
engages in constant workplace days where
Tom noticed each worker's mindset to
generate ideas for business perspective.

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Global Entrepreneur:
Bill gates: He is an American businessman born
on 28 october 1955. he is one of the most
successful entrepreneur with strong family
background. He grew up in settle with an
great family. But he was being a college
dropped out, this experience didn't created
any barriers in his growth and success and
also his personal experience helped him to
grow and enhance himself and become one
of the most successful entrepreneur.