Entrepreneurship and Small Business Management: Key Traits

This essay explores the characteristic traits and skills of successful entrepreneurs, differentiating them from other business managers. It assesses how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset, highlighting the role of leadership, self-motivation, and risk-bearing. Furthermore, it examines how background and experience can either hinder or foster entrepreneurship, considering factors such as national culture, education, and economic conditions. The analysis concludes that an entrepreneur's positive approach, competitive spirit, and leadership qualities are vital for creating effective business ventures. Desklib provides a platform for students to access similar solved assignments and past papers.

Entrepreneurship and
Small Business
Management

Table of content
 Determine the characteristic traits and skills of successful entrepreneurs that differentiate them
from other business managers.
 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-
set
 Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship
 Conclusion
 References

Determine the characteristic traits and skills
of successful entrepreneurs that differentiate
them from other business managers.
A successful entrepreneur have several type of qualities in their personalities through which they
perform the effective functions in the business operations.
 Strong leadership quality- An entrepreneur has the leader quality in their personality. They can
easily influence the people around them with their effective speech and ideas.
 Self motivated- as seen in the past history all the successful entrepreneurs has the believe in their
ideas when other does not that helped them in order to achieve their desired goals.
 Risk bearer- An entrepreneur never fear on taking the bold steps in their operations. They have
the ability to bear the risk.

Assess how aspects of the entrepreneurial
personality reflect entrepreneurial motivation
and mindset
 An entrepreneurial personality plays a major
role in order to perform the functions more
deliberately and effectively.
 Their positive approach towards performing
the business functions reflects their strong
mindset. Their nature to to innovate, risk
bearing in order to start the new business
ventures shows their clear mindset of
initiating the practices.

Examine, using relevant examples, how
background and experience can hinder or
foster entrepreneurship
There are number of reasons that affects the
entrepreneurship. The education level as well as backgrounds
plays vital role in order to hinder or foster the
entrepreneurship.
 National culture- The nation practices and decisions
plays vital role to affect the functions of an entrepreneur.
 Education- The education system plays a vital role in
hinder and foster entrepreneurship.
 Economic condition- The economic condition is the
most valuable factor that nourish the entrepreneur idea.

Conclusion
 From the analysis of above report it can be said the an entrepreneur plays a vital role in order to
create the effective business venture in the economy.
 Their positive approach in regard to take the risk, competitive sprint as well as leadership qualities
create the more value to function effectively. As stated above the entrepreneurial personality
reflects their entrepreneurial motivation and mindset.
 These qualities provided the advantage in order to solve the problems that generated in business
operations. At last the importance of background and experience were discussed that played a vital
role in forming an entrepreneur.

References
 Bekmansurov, R.H., Kovalenko, K.E., Utkina, K.M., Novikova, Y.A. and Zatsarinnaya, E.I., 2019.
State support for persons with disabilities in the field of entrepreneurship. Journal of
Entrepreneurship Education, 22, pp.1-9.
 Belik, E.B., Petrenko, E.S., Pisarev, G.A. and Karpova, A.A., 2019, May. Influence of
technological revolution in the sphere of digital technologies on the modern entrepreneurship.
In Institute of Scientific Communications Conference (pp. 239-246). Springer, Cham.
 Chernopyatov, A., Makushenko, L., Popova, V. and Antonova, N., 2018. Entrepreneurship
development and business activity in the Russian Federation. Journal of Entrepreneurship
Education, 21(4), pp.1-12.

Thank-You