Entrepreneurship and Small Business Management: Task 3 and 4 Report

This report, focusing on entrepreneurship and small business management, analyzes the characteristic traits and skills of successful entrepreneurs, emphasizing aspects like team building, risk tolerance, and strong work ethics. It explores how entrepreneurial personality reflects motivation and mindset, highlighting self-determination, persuasive communication, and intrinsic motivation. The report examines how background and experience can either hinder or foster entrepreneurship, using examples such as the ASDA brothers, Mark Zuckerberg, and J.K. Rowling. It concludes that entrepreneurship is crucial for business development and varies based on size, lifestyle, and operational factors. References include academic sources on entrepreneurship education and international business.

Entrepreneurship
and Small Business
Management
Task 3 and Task 4

Table of Content
 Introduction
 Discussing characteristic traits and skills of successful entrepreneurs
 Aspects of entrepreneurial personality reflect entrepreneurial motivation and
mind set
 Examining background and experience, which can hinder or foster
entrepreneurship
 Conclusion
 References

Introduction
Entrepreneurship can be understood as one of the most essential aspect
evolving in todays competitive business world where creating change with
innovation, high scale resource planning and new scale growth are essential
factors. Below PPT based on Asda company, this is based on British super
market chain situated in England. This company founded in 1949 by peter and
Fred Asquith.

Discussing characteristic traits and skills
of successful entrepreneurs
Successful entrepreneur’s characteristic traits and skills can be analysed to be
widely crucial aspect for strengthening vision oriented growth, new scale
varied efficacy aspects for competent fundamental progress.
Team building skill: Entrepreneurs for being successful need to possess
strong team building skills in their working efficiency where coordination, in
depth functional working efficiency generates high scale motivation.

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 Risk tolerance: Successful entrepreneurs also need to possess risk tolerance
in their working operations where risk tolerance factors come in, also it
becomes crucial for wider scale imperative performance targets Risk
tolerance characteristic demands entrepreneur to hold optimistic
functionality on wider scale efficacy among working parameters.
 Strong work ethics: Entrepreneurs for pertaining towards new success
domains among companies working performance horizons need to ensure
best work growth outcomes be delivered among employees.

Aspects of entrepreneurial personality
reflect entrepreneurial motivation and
mind set
The aspects of entrepreneurial personality reflect
entrepreneurial motivation and informative minds
set widely as working operations among
entrepreneurs, enable innovation to diversify.
Entrepreneurs personality with high vision
oriented growth factors, strengthened corporate
analytical approaches gives positive work shift to
new directions.

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 Self-determination and independence: This aspect of entrepreneurial aspect
reflects positive self-determination, motivation and informative mind set to keep
up with confident performance horizons.
 Persuasive communication ability: Entrepreneurs as leaders in company need to
evolve on smart persuasive communication ability among teams where new keen
performances within business goals are strongly demanded.
• Intrinsic motivation drive: This aspect of successful entrepreneurs informatively
reflects motivation, mind set horizons with positive directions where intrinsic
motivation plays crucial role generates strong profound work growth efficacy.

Examining background and
experience, which can hinder or foster
entrepreneurship
• The experiences and background has strong impact on working aspects
among entrepreneurs, which can hinder or forester relationships within
extended domains actively for keeping up with performance domains.
Globally there are various examples of entrepreneurs whose ideologies to
bring on varied scale innovation in businesses, enables us to analyse
impact of background experience on future performance.

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• ASDA brothers:
• ASDA brothers started businesses with single petrol forecourt, heading
to owning expanded businesses where experiences in background
enabled variably. This factor enables in depth analysis where
background, influence of previous professional experiences have strong
impact on hindrance or fostering entrepreneurs.

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• Mark Zuckerberg:
• Mark Zuckerberg, CEO of Facebook is also another globally recognised entrepreneur
whose successful leadership, best business decisions, has shaped smart work goals
actively in shaping innovation smartly.
• J. K Rowling
• JK Rowling is one of the richest author in world has been leading entrepreneur whose
vision and courisma has shaped her writing career professionally. This factor plays
strong role in bringing on focus towards analysis, where her personal background has
been dynamically shifting to new domains variably.

Conclusion
Entrepreneurship has been concluded in report as one of the major aspect in
creating wide range of business development, within competitive diverse
world. From the above analysed report it has also concluded in depth that
entrepreneurship ventures are divided on basis of size, lifestyle factors and
their operational factors among economy scenarios.

References
• Decker-Lange, C., Lange, K., and Malmsey, A., 2020. Exploring Entrepreneurship
Education Effectiveness at British Universities–An Application of the World Café
Method. Entrepreneurship Education and Pedagogy, p.2515127420935391.
• Pardo-Garcia, C. and Barac, M., 2020. Promoting employability in higher
education: A case study on boosting entrepreneurship Skills. Sustainability.
12(10). p.4004.
• Zahra, S. A., 2021. International entrepreneurship in the post Covid world. Journal
of World Business. 56(1). p.101143.