ESBM Speaker Notes

MINDSET OF ENTREPRENEURSHIP
ASSIGNMENT
Course Tittle Pearson BTEC Level 5 Higher National Diploma in Business
Unit Number and Unit 09 : Entrepreneurship and Small Business Management

Title: (ESBM)
Assignment Title
Exploration of the Entrepreneurial Mindset
Name of the Learner Begum Rukshani Mohamed Refai
Ref. No. of the Learner Pearson Regd. No. 1018455
Assignment Number 02 Batch No & HND B 41 / 2
Issue Date 08.09.2020 Semester

Submission Date 17.11.2020
Re-submission Date Date Received 1st

submission
Unit Assessor: Mr. Sanjeevan Academic Year 2020
Assessor’s Feedback
Grade: Assessor Signature: Date:

Resubmission Feedback
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Internal Verifier’s Comments
Signature of the IV Date

Student Agreement: Student
I understand the feedback given to me and agree to carry out the Signature
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actions in future works as required and indicated.
Plagiarism Policy
The submission of work that borrows ideas, words, diagrams, or anything else from another
source (or sources), without appropriate acknowledgement, constitutes plagiarism. Plagiarism is
not limited to unattributed cutting-and-pasting; it includes the reproduction, without
acknowledgement, of someone else's work, taken from a published (or unpublished) article, a
book, a website, a friend’s (or anybody else’s) assignment, or any other source. When an
assignment or report uses information from other sources, the student must carefully
acknowledge exactly what, where and how s/he has used them. If someone else’s words are
used, they must be within quotation marks and a reference must follow the quotation. Failing to
do so leads to academic misconduct. Academic misconduct is defined as any type of cheating in
an assessment for the purposes of achieving personal gain. When it is determined that academic
misconduct has taken place, a range of penalties may be prescribed which includes expulsion from
the programme.
Student Declaration
I certify that the assignment submission is entirely my own work and I fully understand the
consequences of plagiarism. I understand that making a false declaration is a form of
malpractice.
Student signature: Date:14.11.2020
Unit Learning Outcomes:

LO3 Determine and assess the key aspects of an entrepreneurial mindset.
LO4 Examine the different environments that foster or hinder entrepreneurship
Assignment Brief and Guidance:
Task – 2 (Individual presentation + Report)
Continuing from Assignment 1, in your role at the consultancy firm you have been asked to present as
a keynote speaker at the annual Business startup show in Colombo. You are to present on ‘The
Mindset of the Entrepreneur’. Your presentation will be 10 minutes and will need to include the
followings:
 Specific examples of entrepreneurs to illustrate the scope of entrepreneurship covering one

local entrepreneur, one global entrepreneur and one social enterprise.
 Exploration of their situational factors, similarities and differences.
 Discussion on their shared entrepreneurial traits and characteristics.
 Analysis of how background and experiences can either hinder or foster entrepreneurship,
providing specific examples to support your line of argument.
 Conclusions that are drawn from comparing and contrasting the different entrepreneurs, their
backgrounds and experience and the extent to which it has influenced them.
Note - The submission is in the form of a 10-minute individual PowerPoint presentation and 5 minutes
allocated for questions. The presentation slides and speaker notes should be submitted as one copy.
You are required to make effective use of PowerPoint headings, paragraphs and subsections as
appropriate. Your research should be referenced using the Harvard referencing system. Please also
provide a bibliography using the Harvard referencing system. The recommended word limit is 1,000–
1,500 words, including speaker notes, although you will not be penalized for exceeding the total word
limit.
Learning Outcomes and Assessment Criteria

Pass Merit Distinction
LO3 Determine and assess the key aspects of an entrepreneurial
mindset
P5 Determine the
characteristic traits and
skills of successful D3 Analyze the
entrepreneurs that characteristic traits,
differentiate them from other skills and motivational
M3 Explore and examine different
business managers. drivers of successful
lines of argument relating to
entrepreneurs,
entrepreneurial characteristics.
P6 Assess how aspects of supported by specific
the entrepreneurial examples.
personality reflect
entrepreneurial motivation
and mindset.
LO4 Examine the different environments that foster or hinder

entrepreneurship
D4 Critically evaluate
M4 Analyse the link between
how background and
P7 Examine, using relevant entrepreneurial characteristics and the
experience influences
examples, how background influence of personal background and
entrepreneurs, both
and experience can hinder experience to specific successful
positively and
or foster entrepreneurship.
entrepreneurs. negatively, by
comparing and
contrasting examples.
Formative Feedback
Grading
Comment
Criteria
P5
P6
P7
M3
M4
D3
D4
Report Format
Final Assignment must include the followings
 Assignment cover and the assignment given

 Acknowledgment
 Table of contents
 List of table and list of figures
 Abbreviations
 General introduction to the whole report
 Every task in the appropriate format
 List of references
 Appendices if any
 CD Attachment
General formatting of the report

 Margin – right, top and bottom -1”, left 1.5”

 Font – Arial
 Font size – Body 11, Heading 12 (for heading first letter capital excluding preposition
and conjunctions, bolded)
 Line spacing – 1.5
 Paragraph – Single line
 Footer - page no. at the right
 Header – Unit name at right-hand side
Important Notes
 Use credible sources of references. Research articles on relevant topics are highly
recommended and appreciated.
 Any sources of references without the author and the published date are not
recommended.
 Use Harvard Referencing. Improper referencing will be considered academic misconduct
and will be penalized.
Speaker Notes
Slide 1
Cover Page
Mindset of Entrepreneurship
Slide 2
Executive Summary
It has been discussed the skills and traits and their roles of the successful entrepreneur and the
motivational drivers, personal background of the successful entrepreneur, situational
background and finally the aspect of entrepreneur reflect has been discussed in this
presentation slide
Slide 3
Contents
01. Definition of an entrepreneur
02. Who is an entrepreneur
03. Situational Factor
04. Business Success
05. Traits of an entrepreneur
06. Entrepreneurs skills

06. Roles of Entrepreneurs and Managers
07. Successful Entrepreneurs
08. Entrepreneurial Reflect
09. Entrepreneurial Background
10. Global Entrepreneurship
11. Conclusion
Slide 4
Definition of an Entrepreneur
The process of identifying business opportunities to meet human needs and desires while
innovating and transforming them into viable businesses. Entrepreneurship is the theory of risk
and responsibility when designing and implementing a business strategy or starting a business.
Entrepreneurship manages business risk and starts and maintains a successful business.
So when we look at the definition of different authors, Professor Joseph Schumpeter defines
entrepreneurship as an entrepreneur is an innovator, who develops untried technology. In
the author's perspective, it explains that the innovator will try to improve a product that is
already functional. In most cases, the innovator has great technology. If they know
entrepreneurs are creative and have a desire to develop new and untested products, the
entrepreneur will also work to identify and develop clients.
Slide 5
Introduction about Entrepreneur
Entrepreneurship was presented as a subject of debate and analysis in eighteenth-century

economics and continued to attract the interest of economics until the nineteenth century. In the
twentieth century, the word entrepreneurship was synonymous with free enterprise. It is
generally accepted that entrepreneurs act as agents of change, bringing creative and innovative
ideas to businesses, helping businesses grow and make profits. Entrepreneurship is a symbol
of the relentless effort and success of the business. Entrepreneurship is important to individuals,
society, and the country recognized around the world as a catalyst for economic growth. This
topic discusses the evolution and concepts of entrepreneurship, the importance of
entrepreneurship, the myths of entrepreneurship, and the growth of entrepreneurship in Sri
Lanka. The word entrepreneurship is derived from the French entrepreneur and it means "re-
ledge".
(Scarborough & Zimmer, 1998) Defines an entrepreneur is someone who creates a new business
enterprise in the face of uncertainties for profit and growth. Entrepreneurs usually start with a
simple idea and accumulate the resources needed to turn that idea into a sustainable business.
The entrepreneurial mindset does not only belong to the owners of different enterprises, but this
quality can be present in many people related to different fields. Big corporations now seek to
acquire, reward, and nurture employees who have an entrepreneurial mindset, also known as
"internal entrepreneurs." These companies nurture and encourage employees who have an
entrepreneurial mindset to the extent that their company culture can allow and maintain
entrepreneurial ideas within the organization (H.Morris, 2008). Several authors have described
entrepreneurship as a vital part of the growth of the economy, describing it as a "game-
changing concept" for companies that compete and outwit competitors (Germark, 2014). Focus
on the entrepreneurial mindset, which is the quality that motivates a person to evaluate, exploit,
and discover opportunities. This trait is common in typical entrepreneurs who differ from
ordinary business managers because they are motivated to seek new opportunities and to
transcend other fruitless options to keep themselves safe from burnout. They are keen to focus
on adaptive executions and motivate their team members so that the common goal can be
achieved (Rita Gunther McGrath, 2000). Several researchers have put forth their theories about
whether entrepreneurs were born or born. However, there are significant differences between
the attitudes of the average person and an entrepreneur, but this does not prove that
entrepreneurs possess these characteristics by birth. In theory, however, many researchers
have had a hard time knowing why some people have more entrepreneurial characteristics than
others. Entrepreneurs have many traits that distinguish them from others (Alain Fayolle, 2000)
several theories show that some people are more inclined. To the adventure of others. These
theories are related to behavior, personality, sociology, and economics (Leeder, 2011).
In the author's perspective being inexperienced entrepreneurs, it is difficult for them to achieve
their goal in terms of product or service-based entrepreneurship (Author, 2020).
The author recommends the right knowledge and strategy to make successful, otherwise, they
will not be able to achieve their goal of becoming a successful entrepreneur. Entrepreneur is a
very profitable and free business (Author, 2020).
Slide 6
Situational Factors
Educational Background:
Education enables entrepreneurs to better assess and exploit opportunities, boost self-
confidence, and reduce apparent risks. And the secondary education negatively affects informal
entrepreneurship. Previous studies show that teaching entrepreneurship can make individuals
successful entrepreneurs. Entrepreneurship education can give individuals the confidence to
start their own business by providing business management skills to integrate the knowledge,
skills, and experience to start a start-up business (Kirby, 2004). Entrepreneurship training series
offers a wide range of information on entrepreneurship to help people think of entrepreneurship
as a profession and earn bread and butter.
Family Orientation:
It can be said that family background influence the promotion of entrepreneurship. Family
members who participate in entrepreneurial activities can influence individual intentions to start
a company and its vision as a force in financing and motivation. There are many examples of
small and medium-scale businesses where one family member takes the initiative to start a
business and after a while, other family members get involved in the business to further develop
it. Supporting family members plays an important role for individuals in achieving
entrepreneurial activities (knife, Baggery, and, 2010). Family and friends are the number one
source of informal information and advice for any entrepreneur when starting their new business
(Green and saridakis, 2007).In the author's perspective the generations to start up a family
business.
Financial Stability:
The stability of the financial system allows companies and residents to store value and transfer
financial assets without fear of loss. Access to finance, capacity building, leadership
development, and networks for entrepreneurs. Support Financial Support: Every start-up needs
financial resources to get everything done right, such as buying raw materials, making new
investments, recruiting people, securing deposits, etc. This factor should be taken into account
as bank loans, investors, and other financial assistance. Financial aid can give the entrepreneur
a clear idea of the type of business and the scale at which the company should be started
(Jovanovic, Evans, and, 1989).
Personal Characteristics:
Personal and environmental factors play an essential role in the decision-making process of
starting a new business and a small business. Entrepreneurship is not a state of existence but a
process that requires skills and support from entrepreneurs well as other people (Bygrave,
1989). This process takes a long time to fully develop and succeed. Here are some factors that
can influence His decision to start a new business. Characters Personal traits: Personal traits
play a big role in starting a business. To be successful entrepreneurs we need to be armed with
self-confidence, good decision-making skills, and determination. A high level of self-confidence
has a positive effect on the success of new ventures (Colverid, 1996).
Experience:
Every startup needs people with some kind of industry experience. An inexperienced person is
less likely to acquire a successful company. There are many examples of successful
businesses started by people with extensive business or work experience relevant to their
business field (Delmar & Davidson, 2000). Experiences plays an important role in influencing
later entrepreneurial performance. Entrepreneurs manage the business and turn it into an
important business such as selling or converting their business. Successful experience Start-up
costs are low.
From the authors perspective, many entrepreneurs have a natural tendency to innovate and
respond. They are forced to challenge the situation and encourage change. Most entrepreneurs
do not have a natural tendency to organize, systemize, or reproduce a specific outcome
(Author, 2020).
The author recommends to look at entrepreneurs tendencies wherever they serve

entrepreneurs and where they do not serve the entrepreneur. Take advantage of tools and
technology to assist in repetitive or highly organized tasks. Learn to organize, document, and
assign once. Focus on getting into the habit. It will help them when they have a natural tendency
to run a penny to get the curved ball out of the garden (Author, 2020).
Slide 7
Business Success
Take Risks: Successful entrepreneurship involves risk. If they don't accept the risk, they may
want to reconsider becoming a business owner. Jeff Bezos, co-founder, and CEO of Amazon,
said, (Bezoz, Jeff, 1994) “I knew I wouldn't regret trying this at the age of 80, and I knew I
wouldn't regret it if I failed. The only thing I regret is that I knew I never tried. I knew it was
chasing me every day. "
Nobody can say with certainty how much risk will be paid, no matter how it is calculated. But
that shouldn't stop them from taking this risk. If they want their business to succeed, they must
take a risk. According to a quote from (Wilcox, 1959), "Progress is always associated with risk.
You can't steal a second base and put your foot down first."
How Taking Risks Drives an Entrepreneur
In the author's perspective without risk, the entrepreneur will never know how great their
company will be. They should not risk everything they work for, and if they take a calculated
risk, they can push their company to greater success. Companies will never develop new
methods or products unless they take risks.
Be Confident: Self-confident is the biggest tool when it comes to entrepreneurship or a startup

of a business. Wear it proudly through their work always. There are some ways to build
confidence such as read motivational stories, Believe they can do it, don't be afraid to fail, and
learn to be proud
How self-confidence drives An Entrepreneur
In the author's point, low self-esteem makes entrepreneurs more likely to succeed. There is no
greater importance in business psychology than the idea of high self-confidence. Fear, anxiety,
and stress can make people give up sooner or later. The secret of job success is self-efficacy,
which can be seen objectively in the "skills". The author recommends having the self-confidence
to succeed in business. If the entrepreneur wants to achieve great success then the
entrepreneur has to believe that they are worthy (Author, 2020).
Passionate: A passion for entrepreneurship is essential to business success. Convincing a

team to commit to the business requires investors and consumers to pay for the product or
service to support the business. Therefore, passion is a factor in the difference between
success and failure for an entrepreneur.
How Passion drives An Entrepreneur
Entrepreneurs need a desire to achieve their vision and because they do not have an easy time,
entrepreneurs must be driven by the desire (desire for their new idea and/or desire to be their
boss) to be able to do it. They want to deal with all the problems that come with
entrepreneurship (enotes, 2020).
In the authors perspective, those with a business vision need a desire to understand their vision
and realize that they will not have an easy time. If they give up the profession they were doing to
start their own business, they will share the safety and relative simplicity and little emphasis on
more work. They will probably need to work longer hours. Even before they do, they need to
invest a lot of energy to get their business started. They are under pressure to consider whether
their business is going to be successful and what they need to do to get it done. All of this is
more difficult from many perspectives than working in an existing organization. Entrepreneurs
should be motivated along these lines so that they will be able to solve all the problems related
to the enterprise.
In the author's point passion is what drives an entrepreneur because entrepreneurship is not an
easy thing at all. Entrepreneurship usually involves vision, hard work, fair stress, and
unpredictable benefits. Therefore the author recommends the entrepreneurs to be passionate

about their work for a successful business (Author, 2020).
Visualize Goals: Start thinking about the personal goals in life. Spend 10 to 15 minutes.
Achieve every goal, complete each mission, and imagine that entrepreneurs are successful.
Find out what it does for them and how they feel.
In the author's perspective seeing the future in mind is an important step in determining how to
achieve the goals. Successful entrepreneurs know what they want. It seems simple, but most
people do not keep their goals. They talk about the success of ordinary things. through an
entrepreneur's mind and think about the future. Start with action goals and small strategic
achievements that will give entrepreneurs satisfaction or reward as they travel (Author, 2020).
Plan Finances: Entrepreneurs build a financial plan to determine the economic potential of
their business. This plan provides an estimate of business potential. Using sales estimates,
even a business team can determine how many units to sell, even for a breakdown.
Slide 8
Traits of entrepreneur
Creative and innovative
Creativity and innovation are important for entrepreneurs to gain a competitive advantage in
their projects. Entrepreneurs with their creative and innovative mindset and imagination can
produce unique products and services for customers. Creativity is not inherited, it can be
learned (Andrew, 2018). From the authors perspective, this creativity and innovative skills of
entrepreneurs will differentiate entrepreneurs from other business managers. Because business
managers are not creative or innovative because managers are employees of their owners.
Team Building
Many successful entrepreneurs have highly qualified and well-motivated teams to help them
deal with project qualifications and development.in authors, perspective managers don't have
team-building skills since the owners appoint people to work as a team.
Confident and optimistic
Entrepreneurs generally have great confidence in their success. They tend to be optimistic
about their chances of success and their optimism is usually based on reality. The reason why
some successful entrepreneurs often fail more than once explains the high success and
optimism.
Independent
Entrepreneurs are independent individuals. They like to do things their way. This does not mean
that entrepreneurs have to make all the decisions. They must have the power to make important
decisions. Managers are not independent they depend on the owners of the business.
Seeking Feedback
Entrepreneurs want to know how to do it and expect constant strengthening. They actively seek
feedback to improve themselves and implement their projects. From observations,
entrepreneurs learn from their mistakes. Managers don't seek feedback because they work for
someone else company.
Ability to set vision
Entrepreneurs know what they want to achieve. They have a vision or concept of what their
company might be. Not all entrepreneurs have preconceived notions about their company. In
many cases, this vision develops over time as the entrepreneur begins to understand what a
company is and what it can be.
From the authors perspective developing the entrepreneur's traits is very important.
Entrepreneurs are passionate and positive who normally love what they do and put more effort
into their business to grow. They have a good sense of their work that goes beyond making
money. Therefore the author recommends by understanding the entrepreneurial traits can help
them grow to become business leaders. Some example of successful entrepreneurs who has
entrepreneur's traits are Steve job, Walt Disney, Naqqash Jaleel, Brain Chesky, and Bill
Drayton. They are the real leaders and role models of an entrepreneur. Their achievement and
success show their entrepreneurial characteristics as evidence (Author, 2020).
Are Entrepreneurs are Born or Made?
Entrepreneurs are born: Only by discussing the above traits in this report, can we assume that
some traits are directly related to one's personality and are not related to external factors.
According to Gartner (1989), he was "once an entrepreneur, always an entrepreneur". This
statement clearly shows that some of the characteristics of an entrepreneur are inherent in
themselves and that external environmental conditions do not affect the development or change
of attitudes of entrepreneurs. Some researchers have suggested that entrepreneurial traits may
be present in the genes of future entrepreneurs. At the beginning of an entrepreneur's life, traits
develop and a person begins to make money from opportunities (Andrews, 1998). Without the
innate traits of an entrepreneur, an individual cannot make decisions and risks to take
advantage of potential opportunities (Cunningham & Lischeron, 1991). Entrepreneur building
Entrepreneurs: Contrary to the above views, the statements of a group of other researchers
gave the impression that entrepreneurs did not come into being. Many researchers like brain
Chesky, Naqqash Jaleel believe that the qualities of entrepreneurship are not always possessed
by entrepreneurs, but may vary from project to project and from time to time, indicating that the
entrepreneurial behavior of entrepreneurs is intentional (Wickham, 2006).
The author recommends entrepreneurial traits can be achieved and individual characteristics
can be achieved through knowledge, skills, and competence. These traits can be developed if
any individual is given appropriate pioneering training and literature (Author, 2020).
Slide 9
Entrepreneur skills
Leadership Skills
Table 1 Leadership Skills
Entrepreneurs Managers
Have the flexibility to solve problems and Make decision. Every manager who
always seek feedback. values salt should have what he needs to
make tough decisions when he's faced
with a problem - it will appear in business
situations.
.
Communicate in a transparent way to Having Self-confidence.
share success and failure with the people.
Identify and retain the best talent and Be responsible

know-how and when to delegate
Lead by an example and ask for advice Developing vision and integrity
and develop new leaders
Advantages and disadvantages of Leadership skills of Entrepreneurs and

Managers
Advantages
 If entrepreneurs delegate tasks efficiently, they can help to produce worker productivity.
 Entrepreneurial leadership skills allow them to draw conclusions from their experiences
by initiating interactions with other leaders and to work with them to understand the
conflict of ideas and the ways to resolve it.
 Dividing labor actively can lead to higher work output and ultimately higher sales and
higher profits for managers
 As a manager recruiting and training new employees can be costly, so creating good
morale through good leadership affects the bottom line.
Dis-advantages
 If the manager decides to perform the easy tasks and assigns the difficult tasks to the
employees, it will lead to sub-productivity.
 Conflicts between managers and employees can lead to conflicts that waste time and
reduce productivity. Managers need excellent interpersonal skills and the ability to adapt
their leadership styles to suit the personalities of different employees.
 Entrepreneurs deal with this leadership limit by appointing officers to handle some of
these functions. The downside, however, is that charging high-ranking officials can
weaken a company's budget.
In authors, perspective entrepreneurs and managers need leadership skills to properly assign
tasks by understanding their strengths and weaknesses. Without leadership skills, it is difficult to
trust others to handle certain processes in the business and author recommends to appoint an
effective leader because, it is someone who is committed to giving leadership to others,
performing technical skills, and using his or her ability to visualize situations (Author, 2020).
Management Skills
Table 2 Management Skills
Entrepreneurs Managers
Proper Time Management Planning
Proper Business Planning Organizing
Financial Management Leading
Sales Management Controlling
Advantages of Management skills for Entrepreneurs and Managers
Advantages
 Entrepreneurs must have excellent management skills to excel in the social and
economic arena
 These skills are most important to low-level managers because of how closely they are
involved in working with employees who perform real-job tasks. Human skills include the
ability of managers to work, motivate, motivate, empathize, and communicate with their
employees.
Dis-advantages
 Entrepreneurial contributors have their own opinions. Poor management skills have
long-term effects and can affect an entire company.
 Due to poor management, there is a high chance of legal issues to arise.
In the author's perspective when considering the pros and cons of managerial skills, Poor
management usually affects employees and company operations. There are inefficient
managers and they can face employee challenges. Therefore the author recommends
discovering key skills that make a good leader, such as humility, interest in other opinions in
meetings, question-asking skills, and communication skills (Author, 2020).
Interpersonal Skills
Table 3 Interpersonal Skills
Entrepreneur Manager
The importance of interpersonal skills. Proper business management
The most valuable advice entrepreneurs
can find when asking how to get things
done and how to achieve His goals is to
build good and strong relationships with
all of the people around you.
Being a good speaker and an attentive Leading and motivating others

listener.
Maintaining Good habits such as trust Conflict management skills

and honesty.
Engaging and interacting with others Teamwork and proper networking skills
Advantages and Disadvantages of Interpersonal skills of Managers and Leaders
Advantages
 Active listening will make them more willing to stay engaged and provide feedback on
customer’s requests.
 Compassion and sympathy, these two interpersonal skills go hand in hand with self-
awareness. With these skills, the manager or entrepreneur can understand the thoughts
and feelings of others. When they see the situation from another person's perspective,
they help people build trust and not just an employee identity but also a sense of
humanity (Smu. cox, 2020).
Dis-Advantages
 When an organization’s communication skills are weak from top to bottom, the impact at
the bottom is crucial.
 All conflict management strategies that use communication to avoid hostile situations in
stressful environments cannot be done without personal communication.
In the author's perception building Confidence, Emotional Intelligence, Sensitivity, Risk, and
Listening Skills are the most important interpersonal skills that a manager should try to develop
and refine and to build the confidence between line managers and their team members and as
well as entrepreneurs also should possess these skills to develop their business (Author, 2020).
Commination Skills
Table 4 Communication Skills
Entrepreneur Manager
Since most communication is nonverbal, Brainstorming the activities
proficiency in displaying body language is
essential.
Conversation is one of the most basic Delivering information to employees

forms of communication that an
entrepreneur should possess.
Presenting in a few different forms of Negotiating

entrepreneurs.
Listening is one of the most important Using storytelling to communicate

communication skill for an entrepreneur
Advantages and Disadvantages of communication skills of Managers and

Leaders
Advantages
 Managers or leaders with strong communication skills work best with their team
members to convey accurate and accurate information. Good communication builds a
strong bond and understanding between the company and its people and creates clear
expectations (gupta, 2019).
 This reduces the chance of misinterpretation among employees and allows them to
present the work perfectly
Disadvantages
 Excess communication can further aggravate inefficiency by conveying communication

water. Messages can be lost or misinterpreted in a lot of information, forcing
entrepreneurs to repeat the message - sometimes too late - leading to more inefficiency
and the overall business (Smyth, 2020).
From the authors perspective, entrepreneurial success cannot exist without maintaining a
healthy and trusting relationship with clients and other stakeholders. Positive and effective
communication with clients and partners helps entrepreneurs maintain relationships and give
them a pleasurable experience. The author recommends entrepreneurs can communicate
effectively and efficiently with their customers using these advanced means of communication. It
will help to increase customer experience and satisfaction (Author, 2020).
Slide 10
Roles of Entrepreneur and Manager
Entrepreneur
A person who takes the risk of starting a new business is called an entrepreneur. An
entrepreneur creates a company that gathers capital and labor to produce goods or services for
a profit. Entrepreneurship is an important engine of economic growth and innovation.
Manager
Managers are responsible for planning, organizing, directing, and controlling companies to
define and achieve their objectives by implementing four basic management functions (pectum,
James, 2016).
The Difference between Entrepreneurs and Managers

 The main difference between entrepreneurs and managers is their role in the organization.
The entrepreneur is the owner of the company managing monetary and non-monetary risks
and through his business success he will gain profit and the manager is the employee of the
company. He gains with monthly salary for all his performance (toppr, 2020).
 An entrepreneur is a risk-taker and takes financial risks for his project. But the managers
are moderate risk-takers who don't bear any financial risks. An entrepreneur has a vision
and focus on achievement and profit. But the manager focus on personal goal and self-
accomplishment.
 An entrepreneur who strives to expand his business with creativity and innovation to satisfy
the desires of the customers. A manager is a person who works smoothly for a business. It
will not expand innovation or creativity. It will follow the traditional structure. An entrepreneur
is motivated to develop his business and a manager is never interested in developing the
organization (toppr, 2020).
 The businessman plays his role informally or informally because everyone respects him.
Managers need to set everything up in a formal way. Because he is an employee of the
employer. So we have to act according to the employer's order. For managers, honor is
again from their position and an entrepreneur will be honored by their power (toppr, 2020).
In authors, perspective managers play a variety of roles in fulfilling the responsibilities of

planning, organizing, directing, and controlling. In playing a critical role, a manager may have to
think like an entrepreneur, make resource allocation decisions, resolve conflicts, or negotiate
conventions. Therefore the author recommends developing the managerial and entrepreneurial
skills among the people because entrepreneurship is a very important form of business, it
contributes to the overall development of the management capabilities of the economy (Author,
2020).
Slide 11
Successful Entrepreneurs
1. Naqqash Jaleel – Arabian knights restaurant

2. Brain Chesky- air NBN
3. Bill Drayton- Ashoka
Slide 12
Local Entrepreneur
1. About Naqqash Jaleel
Naqqash is the managing director of Arab Knights. Arabian Nights are a side of small boutique
business. During the day he works as Director of Product and Marketing for the Amadeus IT
Group in the attractive city of Dubai. Naqqash is a graduate in computer science and mainly an
IT and operations specialist. Naqqash doesn’t know anything about food or cooking. Hence the
paradox of owning a successful restaurant (jump.lk, 2020).
1.1 About Arabian knights
The Arab Knights began as a hole in the wall of Marine Drive. They flew two Syrians out and
started a true Syrian shawarma service in the city. They started in 2012 and now serve about
4,000 meals a month (jump.lk, 2020).
2. The reason behind the startup of the business (situational Factors)

Educational Background
Naqqash Jesleel’s background revolves around technology, operations, travel, and IT

consulting. The idea of opening a restaurant every month was to have something that had
nothing to do with his brain cracking. The initial idea was, let's get to a simple business selling
500 sandwiches a day so naqqash can make life easier. Life is getting more complicated but he
still hasn't made it easy in life (jump.lk, 2020).
As the author knows with IT or consulting, naqqash has been looking for peace of mind because
it's hard to maintain himself as a business if naqqash doesn't have a project list.
The Arab Knights began their journey to Damascus. Their naqqash had the good fortune to
enjoy Shawarma Street in the famous Old Damascus Market. Initially, naqqash started as a
partnership with his Syrian friend, however, they had to separate due to differences in how to
run a company (jump.lk, 2020).
Naqqash validated the idea by opening a small store. When naqqash went to Colombo. He
knew from day one that he had the right product, he couldn't run a small store and he waited too
long to get the food. It was chaotic and he had to actively struggle to get things under control
and maintain standards (jump.lk, 2020).
Financial Stability
Arabian knight funds were provided by their savings. Although the store was good, at first they
had to face various operational challenges and they were not able to maintain the people,
consistency, or quality. They eventually had to close this port and cut off roads. They have
seized about 9 million Sri Lankan rupees in old ports and businesses.
The second store was again self-financing from savings, and this time his wife took over all the
chores of the food and kitchen step by step, and his wife was the real chef. They have a list of
about 45 mistakes they made with the old port and they swear it will never be repeated with a
new one (jump.lk, 2020).
In general, the largest costs are rental deposits and advances, equipment, and inside / outside
restaurants. They should budget about 4 months from the salaries of the employees they attend
to and be prepared for almost everything to be delayed. If the estimate is 3 months, they can
guarantee that it will take 9 months. This is how things work here and it is something they have
to live with (jump.lk, 2020).
3. Motivational drivers to become an entrepreneur (Motivational driver)

Arabian knight’s motivational driver has become the world’s leading Arabian food restaurant.
Being an entrepreneur means freedom, that is, control and His destiny alone in His hands. Also,
the limits to His success are only defined when an entrepreneur. He hates the rigidity,
bureaucracy, politics, unspoken laws, and power structures of major organizations because
being an entrepreneur frees him from these frustrations. He still lives in both worlds (jump.lk,
2020).
From the author's perspective, he has good market knowledge and information about the food
restaurants so it motivates him to have a good competition with the other Arabian restaurant.
And changing the taste and preference of Sri Lankan’s will create the scope for innovators in
the country (Author, 2020).
He can give back a lot to the community. He offers jobs, and helps his suppliers; he can help his
employees' families and support the initiatives he loves by using the success of his business.
He can't do all of this when working for someone else (jump.lk, 2020).
Finally, and most of all, he wants to take time off when he needs to, not when the manager or
the organization wants to.
4. The life skills or traits helped him to become a successful entrepreneur.

(Entrepreneur skills and traits)
Entrepreneur Traits
Entrepreneur doesn’t want to claim success - success is relative. But having the confidence
and visualization of his success and then getting out of bed is essential if Naqqash wants to
achieve a certain level of success at work. Also, need to be able to take the risk. He doubled all
his savings in the Arabian knights business. For the second time, all of his Sri Lankan relatives
and parents opposed it. This gave him more incentive to prove everyone wrong and thank God
for paying the price for it (jump.lk, 2020).
So far, he in a position to put together big projects, motivate people, help people grow and get
things done, execute plans, and execute effectively. The journey started for me now. Naqqash
Jaleel plans and works hard. He has a full schedule, he travels several times a month, work
more than 50 hours a day on his day job and work about 8-10 hours a week on the Arabian
knight. He tends to reduce the amount of time I spend on social media, sports, and junk
entertainment to ensure business success.
He is also an early beginner and usually start the day at 5 am. It is very important if he has
responsibilities for children and family. If he can get from 5 am to 1 pm (8 pm every day)
accurately and make full progress towards his priority goals, He can make things easier in the
latter part of the day (jump.lk, 2020).
The basic premise here is that if he can't give his time, limiting entertainment/screen hours and
sticking to the required hours, running a business is often not right for him. Also, make sure he
gets enough sleep so that his thoughts are clear and his thought processes are sharp (jump.lk,
2020).
Entrepreneur’s skills
Leadership skills
Naqqash Jaleel is a good leader at Arabian Knights. He also considered employees when
making business decisions. He always prioritizes his team and works with them for their goals
and objectives.
Management skills
Naqqash Jaleel has good management skills. He managed his personal and professional
affairs. As the author mentioned in the report, Naqqash works 50 hours a week. He spends 8-10
hours in the Arabian knight and he starts his work from 5 am.
5. The difficulties and failures faced when starting and running Arabian knights
There were big differences between him and his partner in Syria and a very good friend in terms
of operating style and management. One of the main lessons he learned is that He can be close
friends, but running a company is a new ball game, and Behave to agree on and put everything
on paper before going on a trip. The most important thing is how decisions are made and the
specific areas of responsibility are identified for different partners. Also, trust and transparency
are very important to the making of any partnership (jump.lk, 2020).
The biggest failure is the Arab Knights were funded by our savings. Although the store was in
good shape, at first they faced various operational challenges and were unable to maintain
staffing, consistency, or quality. They eventually had to close this store. They have allocated
around 9 million rupees to the old outlets and companies in Sri Lanka (jump.lk, 2020).
In the authors’ perspective, local entrepreneurship is important not only for entrepreneurs but
also for the state to improve the living standard of people and for relevant companies as it has
the potential to create wealth. It helps entrepreneurs keep up with innovation as new and
improved products allow them to develop new markets in the local region. And some negative
impacts of local entrepreneurs are financial commitment when starting up the small business,
facing more risks, external factors such as downturn the economy has a great impact on the
local entrepreneur as well as local businesses. Therefore the author recommends supporting
the local entrepreneurs to do a whole lot more for the local community, state, or region. The
benefit to society will be greater in economic developments and it can support the local small
business startup so it provides business opportunities and success for entrepreneurs (Author,
2020).
Slide 13
Global Entrepreneur
1. About Brain Chesky
Brian Chesky is the co-founder and CEO of Airbnb an online community and marketplace for
unique spaces. Airbnb a Graylock-Backed company that connects people with extra space with
those looking for a place to stay.
2. The reasons behind the startup of the business (situational Factor)
Joe [Gabia] and he moved to San Francisco in 2007 and became roommates. They both had no
jobs and needed money to rent. They were designers and all hotels were sold out even though
they learned that the International Design Conference was coming to San Francisco in October.
They thought they could make some money if they rented their place and converted it into a bed
and breakfast. They took three planes and created a website called "Air Bed and Breakfast".
People signed up to charter planes and they cooked breakfast for them every morning and
acted as tour guides. They did not intend to start a business. It somehow happened. It does not
look smart. At first, they didn't know this would be a big idea. That's the purpose of the rental
until they think of a big idea. It gradually became clear that this was a big idea. In the end, they
skipped their apartment and three planes and shortened the company name to Airbnb.
3. Motivational Drivers to become an Entrepreneur (Motivational Drivers)
Airbnb's motivational driver is to become the world’s leading online market place for unique
accommodation for people to stay. He has always been an entrepreneur. He grew up like an
artist which is similar to an entrepreneur, and he has a vision and is free to create it. As an
entrepreneur, he has access to resources and they can help him transfer and present his vision
to the world. One of the principles of industrial design is that he can serve the world and
improve things in a meaningful way. Changing the way millions of people around the world live
is very powerful.
4. Skills and traits helped him to become successful (Entrepreneurial skills

and traits)
Brian Chesky was the first to admit that his degree in art was important to his success. If they
are honest, strict, and cautious, and have faith in their idea, then they should go ahead to make
it a reality. The idea could be as simple as building a homestay network around the world, which
is easy to think about, maybe as many already thought, but Brian Chesky just tried to work on it.
Brain Chesky has problem-solving skills, he had adequate knowledge about the laws, he
set up a company culture, and he always is around his role models, he says it all starts with
small consistent step and testing of service. The innovation and creativity of Chesky is that
his corporation is one of the many application/internet based sharing companies at the moment.
It is one of the largest and most successful. The way Airbnb works is that people temporarily
provide their homes and other living facilities for money and AirBnB retains a small portion of it
to facilitate the transaction. Chesky says anyone should be able to explore the world and
expensive accommodation should not stop him.
Brain Chesky has good leadership skills because he can control everyone. Even He often
valued shares and built his business empire based on research and innovation (Author, 2020).
Brain Chesky has good communication skills as he can control his team through better
communication. He can delegate authority and make a request that appeals to clients and the
general public (Author, 2020).
5. The Difficulties and Failures he faced as a Global Entrepreneur
In October 2007, Joe Gbia e-mailed his roommate Brian Chesky, saying, “It has been a difficult
time for the company due to the weekly revenue crowd Nine years later, Brian's wonderful
answer was - 'Investors the challenges he faces. Entrepreneur in building an idea of difficulties
encountered in expanding the business.
From the authors perspective, global entrepreneurship enriches lives and provides the
necessary solutions to the social and economic challenges facing in emerging countries. It helps
young people share their strengths, create new jobs and opportunities, and innovate and grow.
There are two research traditions related to global entrepreneurs. The company aims to build a
sustainable position locally and reap the benefits of becoming a global entrepreneur working to
maximize its ethnic networks, enhancing domestic competitiveness, and finding new talents. But
there are some negative impacts as well they are by being a partner in any other country,
Behave to serve them according to their desires. Another disadvantage is that the international
market is a large and widely accepted market and its stability is a big thing (Author, 2020).
Therefore the author recommends developing global entrepreneurs to increase the strategic,
financial, and production-related benefits and to earn a greater return from the global market
(Author, 2020).
Slide 14
Social Entrepreneurs
1. About Bill Drayton
Bill Drayton is a social entrepreneur with a strong track record of founding organizations and
public services such as Ashoka. Bill Drayton was a pioneer in social entrepreneurship as
founder and CEO of Ashoka and Innovators for the People and has grown into a community of
more than 3,900 pioneering social entrepreneurs working together to create an "everyone
changes" world. Ashoka members bring large systems - to adapt to the world's most pressing
social challenges. More than half of them changed the national policy in the five years since it
was launched.
2. The Reason behind the startup of the business. (Situational factor)

Asoka was founded in 1980 by Bill Drayton on the idea that the most powerful force in the
interest of the world is the social entrepreneur: a man driven by an innovative idea that helps
solve a global problem. The world's leading social entrepreneurs are adopting systems-
changing solutions that permanently alter existing patterns of activities.
3. Motivational Driver to become an Entrepreneur (Motivational Driver)
Ashoka’s motivational driver is to become the world’s leading social enterprise to protect the
environment. Some entrepreneurs had become strong citizens in the 1940s. Social
Entrepreneurs - often inspired by their foundation organizations. It all depends on the historical
fact of the pace of change. Bill Drayton is determined to "steer the world in the right direction.
The security agency is to be the" godfather of social entrepreneurship. Ashoka was started by
environmental protection to help develop better ways.
4. The Skills and traits helped him to become successful
Bill Drayton has social skills which led him to the success of the business. This business is a
non-profit organization that is mainly focused on the safety of the environment and this social
skill and helping habitat would define a good and a social entrepreneur. Changemaker
abilities enable the citizen to think and act and to have an extraordinarily happy life. Problem-
solving skills of Bill Drayton who spoke to the solution journalism site
Dowser about empathy and collaborative entrepreneurship, each a "gigantic breakthrough" that
is accelerating the work of change-makers. These two skills, Drayton believes, are essential to
social change and must be mastered by anyone who wants to make an impact on today's world;
without them, he is limiting his opportunities to contribute to society, and are at risk of being left
behind.
5. The difficulties and failures he has faced as a social entrepreneur
The biggest problem they have is that people still don't see the change taking place. Once
people realize that they are moving from a repeating world to a different world, the role of a
social entrepreneur becomes apparent. When everyone changes, He cannot encounter
problems that go beyond solutions. We look like smart white blood cells. They see a problem
and head south to see it. But they are now in a transition phase, and people are not seeing it.
People realized that society was making this change once the awareness gap was broken, and
it became very clear if more and more people were standing up and making a difference. Then
people can know what this means for them as parents, leaders in institutions, or as a youth.
From the authors perspective, social entrepreneurs implement many social changes. Perhaps
the most useful feature of being a social entrepreneur is the impact it can have on society.
Social entrepreneurs create companies in a variety of industries that can have a positive impact
on society, including alternative energy, health awareness, and education. But it has to compete
with advertising. Social enterprises still have the same business principles as other general
businesses, strict rules and regulations and to monitor the market regularly, lack of support and
funding can be considered as disadvantages of social entrepreneurship (Author, 2020).
Therefore the author recommends the step that they know will lead to success: Find their
passion such as Social entrepreneurs believe that the first step can lead to change. Building a
group culture. Keep it up (how to be motivated and persevere in difficult times) Fund the project
and grow naturally (Author, 2020).
Slide 15
Aspect of Entrepreneurs Reflect
1. Personality
An Entrepreneur is a person with open, observant, thinking, and exploring personality traits.
They have an energetic and active disposition and are inclined to navigate anything in front
of them. They tend to reveal life opportunities, such as socializing with others or engaging in
personal activities (Hellen keller, 2020).
Enthusiasm- A true entrepreneur must be enthusiastic enough to set the right path for his
dreams and make them a reality. Like intelligence, enthusiasm plays an important role in
every successful path. Work without enthusiasm is like a car without fuel (startuped, 2020).
Energetic- The entrepreneur should be very active and motivated. He must always travel. At
the same time, the levels of commitment should be beautiful. Entrepreneurs thrive because
they define their business, focus on their core strengths, and dedicate a great deal of
energy. A successful entrepreneur always has strong self-confidence and a good opinion of
his skills and abilities. Their character is firm and strong.
In the author's perception, entrepreneurs should be enthusiastic and energetic to run a

successful business if they are not having personality quality then they cannot be successful
entrepreneurs. To improve these personality skills the author recommends getting enough
sleep, practicing self-compassion, and take 15 minutes to do something He loves in His day
to day life activities. Entrepreneurs are optimistic, futuristic, and enthusiastic. They will think.
They also have such high energy levels and are often impatient. From the author's
perspective, a good example of this is Walt Disney. Because of his creativity, innovation,
and enthusiasm, and energy as well. He brought the story alive with the sheer energy of his
performance. Walt didn't merely communicate a story; he communicated enthusiasm
(Author, 2020).
2. Motivation
Many successful and self-motivated strong entrepreneurs here achieve their desired goals
by motivating themselves. Although many people have ideas that cannot be put forward for
business development; however, self-motivated individuals can make decisions to activate
ideas (Trivikram, 2020).
Financial Rewards: Being the own boss the entrepreneurs can enjoy his or her financial
rewards. Finance is a scarce resource that motivates an individual to become an
entrepreneur. Money can do a lot, it is the most important thing in determining one's status
and development, and a strong financial background facilitates starting a business
(Trivikram, 2020).
Family security: In recent years, research topics on the role of the family and
entrepreneurship should be addressed to gain greater self-confidence and security.
Entrepreneurship can be a solution, giving women the flexibility to be with children and
contributing to family security. For entrepreneurs who do not have a guaranteed monthly
income, spending time with family can be a challenge.
From the authors, perspective financial rewards and family security will keep the
entrepreneurs motivated. It will encourage them to go forward. The entrepreneurs who are
not motivated cannot move forward. Therefore the author recommends the entrepreneurs to
be always motivated to be successful in the business (Author, 2020).
Mind Set
Entrepreneurship mentality is about a kind of thinking - it’s about how they deal with
challenges and mistakes. It’s about an innate need to improve their skillset and try again.
An entrepreneurial mindset is what they need to move forward (Asli, 2020).
Communication: Communication is a medium of interaction between people.

Entrepreneurs always strive to improve their communication skills so that they can share
and present their ideas and continue to work better with their employees, team
members, clients, and colleagues.
Learn from failures: Failure is inherent in business and entrepreneurship. Many

entrepreneurs see failure as a natural starting point for success. They celebrate failure
because they first learned that our mistakes are our greatest learning resource.
In the author's point Mindset of an entrepreneur is a very important factor where the
entrepreneurs have to possess communication skills to develop their business. It will
build a good relationship with others. And it will effectively deliver the way. And
entrepreneurs have to learn from failures. An example of some entrepreneurs who
learned from failures Steve Jobs is one of them who launched the Apple I that crashed
and burnt and Apple Company lost millions of dollars. But eventually, he found his way
back into the company in1997. And he helped to develop the company further to growth
and innovations that continues till today. If Steve Jobs had given up at that point then he
wouldn’t have achieved this success in his life. Therefore the author recommends
developing communication skills and to learn from business to be a successful
entrepreneur (Author, 2020).
Slide 16
Entrepreneurship Background
Foster Factors
Market Opportunities: It can be a hindrance to a person’s background and past experiences.

The essence of entrepreneurship marketing lies in the timely ability to adapt to marketing in a
social entrepreneurial context.
From the author's perspective marketing is a very important process for entrepreneurs so no
business can establish and grow without a consumer market. Many entrepreneurs rely on
creativity rather than money to achieve an attractive image in a busy market (Author, 2020).
The author recommends to identify new market opportunities and to innovate new ideas in the
market to be successful (Author, 2020).
Creative thinking: By experience and background knowledge it can increase the level of
creative thinking. Careful observation of the entrepreneurial process shows that creative thinking
is the "skill" that an entrepreneur must have to create new ideas. Creativity allows a person to
create interesting processes.
From the authors perspective, creative thinking is an important skill that all entrepreneurs should
follow. This skill involves finding new ways to do things, if they're no creative thinking and new
ideas the entrepreneur cannot be successful therefore author recommends the entrepreneurs to
improve their creative thinking and inventive ideas to be successful and open-minded in the
business (Author, 2020).
Family background- From family background and entrepreneurship education to

entrepreneurship. Entrepreneur "is the function of the environment, life experience, and
personality. Entrepreneurship program is the development of capabilities, knowledge, skills,
attitudes, and Education has a broader market perspective other than the obvious advantages.
In the authors perspective family background is a foster factor that helps to improve and go
forward in the business.
Hinder Factor
Lack of natural resources: Entrepreneurs can revitalize the economy by creating new job
opportunities. Entrepreneurs generally increase the utilization of scarce resources. They fail to
make the necessary internal adjustments and that control alone.
From the author’s perspective, this shows that natural resources are important factors in
producing what the consumer demands. Therefore there must be natural resources for the
production of goods and services. When there is a shortage of natural resources, entrepreneurs
cannot satisfy these customers. So the demand will be high and the supply will be less than the
demand. So customers will be frustrated and turn to their competitors, so this will also lead to
enterprise failure (Author, 2020).
Therefore the author recommends that when coming to natural resources, the entrepreneurial
important resource to satisfy customers and should not utilize every resource in the society.
Should always produce the goods and services from resources that are available and by
thinking the future generation (Author, 2020).
High taxes and high competition: Higher marginal tax rates can discourage work, savings,
investment, and innovation, while specific tax preferences affect the allocation of economic
resources.
From the authors, perspective startups and established companies must compete in a
competitive market where a high effective tax rate for entrepreneurs decreases the required size
(Author, 2020).
Traditional thinking: Although the pilot has identified several factors of entrepreneurship is
associated with thinking through the decision to create a new venture with a larger project and
having the resources and capabilities in the market to persuade and be determined to disrupt
traditional practices. Traditional thinking is what they think presently so that they do not think
outside the box. So the traditional thinking is that people will never take risks and they will lag in
risk management. These individuals will fail in the market because they are unable to satisfy
customers with adaptive changes. Because of this thinking, they could not survive in the market.
Many customers today are thinking beyond the expectations of entrepreneurs.
In the author's perspective so when customers think this way, entrepreneurs also need to be
innovative and creative to meet these customer expectations. Innovative can be profitable but it
can also lead to spend money a lot. The author recommends the entrepreneur must be
innovative as traditional thinking causes the company to fail in the market (Author, 2020).
Slide 17
Conclusion
 Confidence and hard work is the best medicine to kill the diseases called failure. It will
make you a successful person
-Dr.A.p.j. Abdul Kalam
 Never give up, today is hard, tomorrow will be worse but the day after tomorrow will be
sunshine
-Jack Ma
 I knew that If I failed I wouldn’t regret that, but I knew the one thing I get regret is not
trying
-Jeff Bezos
Slide 18
The global Entrepreneurship
Global entrepreneurship is among all the continents in the world. The above slides show the
index of global entrepreneurship in each continent in the world. Asia is 50.3% which is half of
the continent is global entrepreneur’s and Australia is 75.5% which is the second-highest global
entrepreneurs are present there and Africa is 40.2%, and South America and North America is
60.5% and 80.2% respectively. Where North America has the highest index of global
entrepreneurs than the other continent. And Africa has the least global entrepreneur’s which is
25.2%. From the author's perspective, global entrepreneurs can increase economic
development and the living slandered of people at the national level. And to create new job
opportunities and advances innovation and growth. (Author, 2020).
Slide 20
References
Slide 21
Thank You
Traits and skills of Successful Entrepreneur that differentiate them from other
Business
With a specific goal in mind to make significant progress in work attributes, it is important to
focus on a person's potential traits and limitations for better progress. When a person does not
sincerely think about the sincerity of these qualities, he acts unexpectedly. It can create a
negative issue for the business firm and affect performance. Consideration is essential for an
entrepreneur to be able to masterwork exercises. It helps meet business standards and
promotes the organizational development of sensitive thinking (Kirzner, 2015). Additionally,
those with a business vision should focus on a step that carries similar risks. When a manager
does not have adequate risk limits, problems cannot be properly understood. For example, a
little India restaurant supervisor can genuinely make good choices after considering and
evaluating restrictions. In cases where the manager is not confident in risking everything, the
views that were in focus at that time will be negatively affected. Also, as a general rule, it is said
that business vision, also, should be sector-based to consider key actions. When an officer is
not justifiably deformed to bring an action into his social event that has a profound effect when it
comes to all the exercises that were performed at the time. Likewise, the dogma's needs must
be honestly addressed. If such procedures were not properly maintained, it can be assumed
that the operator was not sufficiently prepared to complete the operation by that time, but that
the transfer was carried out without regard to the limitations of authority. It can negatively affect
normal progression and create long-term problems (Ducker, 2014).
The problem can be resolved with convincing thought about the key actions related to the
commitment separation. Also, a similar business vision should be developed to acknowledge
commitment as it strengthens colleagues' spirit. For example, those with a business vision do
not accept commitment to error and there is a quality problem. In such cases, the master may
feel that the major is not in the center of the problem. It will also influence public policy models.
Since Steve Jobs presented himself as the most successful entrepreneur, he was able to
develop new things and subsidiaries and he had no credit for having entrepreneurial traits. The
business started with a creative idea. Thus, communication with Apple is permitted. He has kept
each of his chairs in a huge dynamic process with framework values that can lead to
advancement in open areas for development. With its support, Apple respects all business
practices and ensures goals are met (Hitt and Duane Ireland, 2017) . Moreover, it became a
pragmatic authority due to coalition restrictions.
The other example is the work of Barack Obama. He showed enormous limits to private
experts in defining America in an ideal world. Moreover, the seize opportunity perspective
helped him
Ensuring an extraordinary connection to the economy. The above statement demonstrates that
the new statement and the use of risk factors helped the various leaders achieve the main goals
and objectives in the desired manner.
Argument Relating to Entrepreneurial Characteristics
Also, one can easily improve business standards by actively considering various entrepreneurial
features. It allows companies to achieve key goals and objectives in the desired manner. If a
person does not have a developmental development of entrepreneurial values, this will
negatively affect the conditions of service. Improved features were found to help improve
benchmarks. Problems can be identified using analytical skills. It helps to analyze various
aspects related to work. Acceptance of change is a factor that must be properly addressed by
subject matter experts to ensure standards. Helps improve performance.
A negative statement about the attributes of entrepreneurship is that such practices require a
high commission rate, which is not an easy task for specialists (Kuratko, 2016). If an individual
has knowledge of entrepreneurship, but practicality is not appropriate, it will positively affect the
overall development. The overall operating activities can be transformed by considering
decision-making factors and risk assessment. If these measures are not properly evaluated,
strategic planning will hurt the overall development. The characteristics of an entrepreneur have
great similarities with those of a leader. In this process, entrepreneurs set goals for their
business and deal with risks, and plan to achieve those goals. The author recommends that
they have to deal with employees, investors, suppliers, distributors, and more. With this, they
are planning and allocate resources for organizational performance and route information for
employees; the purposes. Entrepreneur should have good management skills for the
administration to effectively organize and handle any disputes (Dees, 2017).
For example, Brain Chesky is motivated to run the business and has confidence in himself. He
can work managing the organization, dealing with various issues of business development of
airmen.
According to the example above the author’s perspective is that if entrepreneurs improve traits
that can accept the business risks then the entrepreneur can achieve business success.
As evidence of brain Chesky's self-confidence and business success in six years, Airbnb has
become a $ 2.5 billion company with 500,000 properties in more than 190 countries - often
referred to as the sharing economy (Kessler, 2014).
Traits, Skills and Motivational drivers of Entrepreneurs
Characteristics, traits, skills, and motivation were found to be key factors that can empower
entrepreneurs. For example, Brain Chesky's self-motivation helped motivate the team to
adhere to standards. He believes he has presented himself as innovative and always accepts a
challenge. It influenced the perception of her followers. It raises Airbnb business standards and
takes business to an attractive level (parker, 2018). He can work effectively and efficiently
without being lazy. He has self-confidence and maintains discipline to complete his tasks. He
can work hard. He has good communication skills which can attract more customers
Richard Branson believes that decisions can be made right by taking risks and properly
analyzing situations. He shows that improving standards by analyzing the factors that helped
him take risks and deal with those skills is one of his key skills and traits.
Aspect of Entrepreneurial Personality Reflect Motivation and Mindset
It has been suggested that different personal perspectives focus on achieving a person's goals
better. The amazing idea of such estimates is that the main goals and objectives can be
effectively achieved so that a person can implement them systematically. The reassurance of a
man especially attached to heights makes it refreshing. A striking personality is a basic and
unimaginable assessment of the young man himself and of the external condition that affected
his personality. The ideal structure of creative abilities and opportunities exhibits clearer
connection and communication characteristics than the open, open-minded person who is
considered extroverted and natural (Storey, 2016). Also, it can be said that people should pay
attention to the establishment of the property, thus expressing restrictions. This will improve the
understanding of the partner's position. Attitudes and pauses in social work help to conclude
certain parts and different parts of the work substantially and effectively. It moves the normal
business differently and leads to extraordinary success. These actions directly affect the
testimony of the workforce, suggesting a provocative relationship between personality traits and
inspiration. It was noted that Brain Chesky's aspirations allowed the plans to expand. His
understanding of innovation and teamwork has appropriately enhanced airnbn online
processes. It redesigns peer certification and takes a business firm to fundamental progress. At
the same time, a company's financial resources can be allocated effectively and efficiently for a
variety of purposes. It can plan for the future, develop strategies to deal with risks, and
implement operations. Innovation is one of the main reasons for Airbnb to reap various benefits
in its competitive market today. Illegal social contact, which boosted the risk a bit, led to
powerful changes in the social media industry. Additionally, this is one of the main reasons why
it offers better opportunities than the current business (Cooper and Folta. , 2017). Execute and
redesign inspired checks to intelligently enhance these measuring gifts.
Foster and Hinder factors of Entrepreneurship
It has been found that every entrepreneur faces a variety of business situations that affect the
overall improvement of both profitability and business development. The process and approach
of the middle private expert is indisputable in terms of the insight and nature of the work vision.
The mentioned limitations are a reflection of the personality traits that they have acquired
through time management and beneficial encounters. Creating design and lighting is a specific
motivation and not the volume of a person's movement, and it also applies to a vision of work.
The manager needs to build self-motivation and self-participation on a very basic dimension
with the goal that hands-on training continues on an extraordinary foundation. In the absence of
interesting data about the coordination of work of an individual, it may be assumed that the
decision regarding the piece of work and affiliation in the world at that time is not in line with
current measures. It will have a negative impact on business performance (Burns, 2016). For
example, Richard Branson says he expects every investigation to open up information to the
individual because he considers everything in prison surrounded by his past encounters. By
examining the nature of his positive outlook or his action, he seizes the opportunity. Innovation
and other factors of leadership and commercial value have enabled the company to reap better
benefits.
The link between entrepreneurship, characteristics and the influence of personal

background and experience to specific successful entrepreneurs
One particular experiment was identified as having a different effect on improving standard
speech. By taking advantage of a specific experience, one can achieve without much.
For example, a person may fall behind in a situation related to a corporate budget event and
then the assessment they made in the past may be used later in the case of a basic fog. If a
man stands against the standards of financial disaster, regardless of what he may be active on
the factory side, he may not need pro-budget support. This is evident from the assertions
mentioned above
This public light can be influenced by the light of the contribution (Aldrich, 2017). If a person
does not correctly mention such features, this will affect the experience as well as the variety of
work. Training of successful entrepreneurs can be developed using experience as it helps them
understand the business situation. It means that all factors are interrelated.
Personal background and experience allow an individual to start a successful business.

Naqqash Jaleel Started a business called Arabian Knights. And later he partnered with his
friend
His plans business to hires employees, and develops strategies to deal with marketing and risk.
He is self-motivated and used a small house to start the business. He was involved in business
programs to gain experience by associating with other busy people and using them in his
business process. Focuses on future planning, financial management, and operational
execution. Brain Chesky is the owner of Air bub, which is an online marketplace that connects
people who want to rent out their homes with people who are looking for accommodation. Self-
motivated fails to find a job at Accenture and starts a business. It builds a good experience for
clients, which motivates him to run the business. It can take risks, plan business, and interact
with customers, and is an essential part of growing a business.
Critical Evaluation of the ways Background and Experience Influences

Entrepreneurship both positively and negatively by Comparing and Contrasting
Examples
Entrepreneurial traits and skills can have a positive and negative impact on business sectors. If
a person is well aware of these facts, they can apply it critically. It allows for positive results and
leads to an impressive level of success. Also, the personal experience can proceed effectively
and efficiently, which helps in the appropriate decision-making process and thus the
achievement of goals and objectives. The negative impact of such features can only occur if the
individual does not pay proper attention to these values. For example, a specialist focuses on
applying innovation but does not accept such skills well. This means that the app may not
function as expected. Naqqash Jaleel and Brain Chesky are passionate about dealing with
various issues of starting and growing a business. They seek effective support from team
members to stimulate and maintain organization. As (Dees, 2017) argued, several companies
may not live long due to an incompetent team and lack of motivation to maintain growth.
Previous experience of failure can have a positive effect on entrepreneurship. According to

(Kuratko, 2016), if someone has a financial background and strong support, they can take the
risk of starting and running a business profitably.
In the author's perception, a person's background and experience can affect entrepreneurship in
both positive and negative ways. Because positive entrepreneurial traits contribute to the
success of an organization. And negative entrepreneurship contribute the key to
entrepreneurship failure (Author, 2020).
When looking at entrepreneurs like Naqqash Jaleel and Brain Chesky, they are innovators in
achieving their goals and objectives. Brain Chesky has been innovating since he was a kid and
since his childhood, he has been doing creative things like warning his brother to direct his
room. His quest to produce something creative grew stronger over time. The company hopes to
expand this concept to other countries. Ashoka is also a social enterprise but its success also
lies in the fact that Ashoka is creative and innovative in attracting people to change a designer.
So when we look at Nokia, they fail because of a lack of innovation. So the positivity of this
innovation leads to success like Airbnb and Amazon, but at the same time, a lack of innovation
leads to failure.
In the author's perception, it is important for success when the characteristics of the
entrepreneur are positive and there are also negative experiences that lead to the failure of the
organization. Good experience leads to the success of the organization and less and bad
experience leads to the failure of success. Brain Chesky has good leadership skills because he
can control everyone. Even Bill Drayton is working with his team on Ashok’s success. Naqaash
Jaleel is a good leader at the Arabian knight. Employees are also considered when he takes
action relevant to the decision. While he always prioritizes his team and works with them to
achieve their goals and objectives, Bill Drayton also has the leadership to manage Ashoka's
3,000 members. Poor leadership is certainly one of the most prevalent potential stressors in the
workplace. The two most obvious reasons for poor leadership are that leaders can be abusive,
aggressive and that leaders do not have the appropriate leadership skills. So the company
failed when Nokia did not have the proper leadership.
The author recommends Understanding the interrelationships between personality and behavior
to understand the impact. Although it is widely agreed that successful entrepreneurs have
certain unique traits, successful entrepreneurs tend to be empowered to make decisions to help
explore the role of background and experience. Mobility becomes a better entrepreneur.
Conclusion
In the context of the mission of exploring an entrepreneurial mindset, here author discussed the
features and characteristics of entrepreneurship. The difference between the personality of a
manager and a businessman. How to test entrepreneurial personality, motivation, and success.
And the study of how personal background influences and promotes entrepreneurship.
As the author discussed earlier, being an inexperienced entrepreneur, it is difficult to achieve his
goal in terms of product or service-based entrepreneurship.
The author recommends the right knowledge and strategy to make them successful, otherwise
their goal of becoming a successful entrepreneur will not be achieved. Entrepreneur is a very
profitable and freedom-based business.
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MINDSET OF ENTREPRENEURSHIP

Unit Number and Unit 09 : Entrepreneurship and Small Business Management

Ref. No. of the Learner Pearson Regd. No. 1018455

Assignment Number 02 Batch No & HND B 41 / 2

Issue Date 08.09.2020 Semester

Re-submission Date Date Received 1st

Grade: Assessor Signature: Date:

Grade: Assessor Signature: Date

Signature of the IV Date

Student signature: Date:14.11.2020

Unit Learning Outcomes:

LO3 Determine and assess the key aspects of an entrepreneurial mindset.

LO4 Examine the different environments that foster or hinder entrepreneurship

Assignment Brief and Guidance:

Task – 2 (Individual presentation + Report)

 Specific examples of entrepreneurs to illustrate the scope of entrepreneurship covering one

Learning Outcomes and Assessment Criteria

LO4 Examine the different environments that foster or hinder

Final Assignment must include the followings

 Assignment cover and the assignment given

General formatting of the report

 Margin – right, top and bottom -1”, left 1.5”

01. Definition of an entrepreneur

02. Who is an entrepreneur

03. Situational Factor

04. Business Success

05. Traits of an entrepreneur

06. Entrepreneurs skills

06. Roles of Entrepreneurs and Managers

07. Successful Entrepreneurs

08. Entrepreneurial Reflect

09. Entrepreneurial Background

10. Global Entrepreneurship

Introduction about Entrepreneur

Entrepreneurship was presented as a subject of debate and analysis in eighteenth-century

The author recommends to look at entrepreneurs tendencies wherever they serve

How Taking Risks Drives an Entrepreneur

Be Confident: Self-confident is the biggest tool when it comes to entrepreneurship or a startup

How self-confidence drives An Entrepreneur

Passionate: A passion for entrepreneurship is essential to business success. Convincing a

How Passion drives An Entrepreneur

unpredictable benefits. Therefore the author recommends the entrepreneurs to be passionate

Creative and innovative

Confident and optimistic

Ability to set vision

Are Entrepreneurs are Born or Made?

Table 1 Leadership Skills

Identify and retain the best talent and Be responsible

know-how and when to delegate

Advantages and disadvantages of Leadership skills of Entrepreneurs and

Table 2 Management Skills

Proper Business Planning Organizing

Financial Management Leading

Sales Management Controlling

Advantages of Management skills for Entrepreneurs and Managers

Table 3 Interpersonal Skills

Being a good speaker and an attentive Leading and motivating others

Maintaining Good habits such as trust Conflict management skills

Advantages and Disadvantages of Interpersonal skills of Managers and Leaders

Table 4 Communication Skills

Conversation is one of the most basic Delivering information to employees

Presenting in a few different forms of Negotiating

Listening is one of the most important Using storytelling to communicate