ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 9: Entrepreneurship and Small Business Management

Submission date Date received (1st submission)

Re-submission date Date received (2nd submission)

Student name PhucNDH Student ID GBS200425

Class GBS0908B Assessor name ThinhTN

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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’s signature:

Grading grid

P5 P6 P7 M3 M4 D3 D4
 OBSERVATION RECORD
Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

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Date:
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Assessor
name:
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Assignment Brief 2 (RQF)

Higher National Certificate/Diploma in Business

Student Name/ID Number:

Unit Number and Title: Unit 6: Entrepreneurship and Small Business Management

Academic Year: 2021-2022

Unit Assessor:

Assignment Title: Exploration of the Entrepreneurial Mindset

Issue Date:

Submission Date:

Internal Verifier Name:

Date:

Submission Format:

Format: This assignment is an Individual presentation and report. For the report, you must use font
Calibri size 12, set number of the pages and use multiple line spacing at 1.5 for the
report. Margins must be: left: 1.25 cm; right: 1 cm; top: 1 cm and bottom: 1 cm. The
reference follows Harvard referencing system. The recommended word limit for the
report is 1500 (+/- 10%). The cover page of the report has to be the Assignment front
sheet 2. The presentation slides and speaker’s note should be submitted with the report.

Submission Students are compulsory to submit the assignment in due date and in a way requested by
the lecturer. The form of submission will be a soft copy posted on
http://cms.greenwich.edu.vn/. Remember to convert the word file into PDF file before
the submission on CMS. Otherwise, you will fail and have to retake the assignment.

Note: The individual Assignment must be your own work, and not copied by or from
another student or from books etc. If you use ideas, quotes or data (such as
 diagrams) from books, journals or other sources, you must reference your
sources, using the Harvard style. Make sure that you know how to reference
properly, and that understand the guidelines on plagiarism. If you do not, you
definitely get fail!

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:

Scenario and activity:

Continuing from Assignment 1, in your role as a small business consultant, you have been asked to present as a
keynote speaker at the Young Entrepreneur Education Camp in your local province. You are invited to present
on ‘The Mindset of the Entrepreneur’ and the different business environments that foster or hinder
entrepreneurship. The assignment will include a 10 minutes individual PowerPoint presentation and 5 minutes
allocated for questions. In preparation for the Camp, the presentation slides and speaker’s notes should be
submitted with the report as one copy in advance. You are required to make effective use of PowerPoint
headings, paragraphs and subsections as appropriate, and will include the following:

1. A short introduction about the topic.

2. Specific examples of entrepreneurs to illustrate the scope of entrepreneurship covering one local
entrepreneur, one global entrepreneur and one social entrepreneur.
3. Discussion on the shared and different entrepreneurial traits and characteristics as well as different
skills that distinguish entrepreneurs and business managers. Assessment of how aspects of the
entrepreneurial personality reflect entrepreneurial motivation and mindset. Appropriate literature
review and real-life examples should be added to explore and examine different lines of arguments
relating entrepreneurs’ characteristics, traits, skills, as well as their motivation drivers and mindset.
4. Analysis of how background and experiences can either hinder or foster entrepreneurship,
providing specific examples to support your line of argument. Link between above-mentioned
characteristics with background/experience, from both positive and negative views, should be
analysed and critically evaluated regarding to the success of entrepreneurs.
 Conclusions that are drawn from comparing and contrasting the different entrepreneurs, their backgrounds and
experience and the extent to which it has influenced them

Unit Assessment Criteria

Pass Merit Distinction

LO3 Determine and assess the key aspects of an
entrepreneurial mindset

P5 Determine the characteristic traits and D3 Analyse the characteristic

skills of successful entrepreneurs that traits, skills and motivational
M3 Explore and examine drivers of successful
differentiate them from other business
different lines of argument entrepreneurs, supportedby
managers.
relating to entrepreneurial specific examples.
P6 Assess how aspects of the entrepreneurial
characteristics.
personality reflect entrepreneurial
motivation and mindset.

LO4 Examine the different environments that foster or

hinder entrepreneurship
D4 Critically evaluate how
M4 Analyse the link background and
P7 Examine, using between entrepreneurial experience influences
relevant examples, how characteristics and the entrepreneurs, both
background and influence of personal positively and negatively,
experience can hinder or background and by comparing and
foster entrepreneurship. experience to specific contrasting examples.
successful entrepreneurs.

Table of Contents
Assignment Brief 2 (RQF).......................................................................................................................4
Higher National Certificate/Diploma in Business...............................................................................................4

I. Introduction:..................................................................................................................................7
II. Main Body:....................................................................................................................................7
 1. Determine the characteristic traits and skills of successful entrepreneurs that differentiate them from
other business managers...................................................................................................................................7
a. List of students and their respondents for interview:...................................................................................................7
b. Using the interviews for analysis and critical evaluation:.............................................................................................8

2. Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset. 9
a. Characteristics of successful entrepreneurs:.................................................................................................................9
b. Entrepreneur vs Manager vs Business:.......................................................................................................................10
c. Example successful entrepreneurs and analysis of personality and skill Mindset.....................................................10
d. Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship...............11

III. Conclusion:...............................................................................................................................11
Reference:...........................................................................................................................................11

Below is the link of the presentation:

https://www.youtube.com/watch?v=tZ4xzbRmGOg

I. Introduction:

As is well known, my company is a JUNIOR company. And social entrepreneurship is one of my

company's forms of entrepreneurial initiatives. Fortunately, investors think my business approach has a
lot of potential. However, the Investment Company's Chairman of the Board is concerned about your
expertise and capacity to operate your business in your business environment, so I was invited to
persuade the Chairman of his objectives, thinking, and willingness to confront problems. We have
devised strategies for both short and long-term objectives. Short-term objectives include finding good
teammates, reaching out to a bigger number of clients, and developing the entire organization. The app's
long-term goal is to expand into international markets. Here is further information about the report.
 II. Main Body:

1. Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers.

a. List of students and their respondents for interview:

Ready interview #1 Interview #2 Interview #3
Phuccy Mr Chesky CEO and Ms. Linh owner of Ms. Phuc owner of pet
Cofounder of Airbnb clothing store LynhMy ( shop Banana.
the recording link is ( the recording link is
below ) below )

1. https://www.youtube.com/watch?v=GFMeuSIhIYg&ab_channel=FortuneMagazine
2. https://drive.google.com/drive/u/1/my-drive (Ms Linh)

3. https://drive.google.com/drive/u/1/my-drive (Ms Phuc)

Take a look at a recent test I did (https://www.bdc.ca/en/articles-tools/entrepreneur-toolkit/business-

assessments/entrepreneurial-potential-self-assessment?fbclid=IwAR2INdShFcKEO9dMfYC23-uRkE_k -
U60mvT02RZGHrANSvetAFz6QyD5oSk) In terms of abilities, talents, independent acts, and decisions, I
see myself falling short of the average achieved by entrepreneurs. A lack of confidence, in particular. My
strongest suit is creativity, inventiveness, and action orientation. But not powerful points like this, which
I have seen and am increasingly overcoming.

After interviewing Ms.Linh and Ms.Phuc, both students demonstrated resilience in their decisions and
confidence in what they are and will do. Ms. Linh's branding was challenging at first, but she was able to
secure a specific supply after realizing that people would return to her if she was diligent little by little on
its goods. s. Mr. Chesky demonstrated confidence and assertiveness during the interview. People also
retreated and ran away from the concept of an air bed. After a difficult search for investors, undertake all
the work necessary to generate funds to nurture and develop ideas. Following the acquisition of the first
customers, the company went from growing steadily to a million dollar company.

b. Using the interviews for analysis and critical evaluation:

Table 1: Analysis of entrepreneurial skills and success stories

Me Mr.Chesky Ms.Linh Ms.Phuc

Background A typical family A typical family - Wealthy family Normal family
with a middle- with a middle- - Excellent with middle level
class income class income education income
Strengths - Imagination - Knowledge - Decisive - Progressive
- Creative - Good - Patience
- Skills
- Action knowledge - Good money
oriented - Have a management
- Confidence
- Patinence passion for - Follow the
- Knowledge - Patience fashion trends

- Decisive

- Comunication

Challenges - Competitor - Build trust and - Branding - Competitors

- Human loyalty - Competitors - Access to
resource - Competitors larger source
- Based on of customers
tourism
Attempt to create - Run own Shaping global - Best Serve good
something business tourism experience for products to
customers customers
- Market
expansion
 Reason of failures Don’t have - Don’t have
enough staff enough money
- Affected by
Covid-19
Lessons learnt - Confident
- Skills
Differences Have experience Don’t have a self
marketing skill
Similarities Creative
Family’s background

Based on Table 1, it is clear that every business is extremely tough for startups. I saw a few
commonalities in Ms. Linh's business approach, which is that in order to differentiate ourselves from
competition, we must have high-quality products and services. However, unlike her, I do not come from
an affluent family. Outside of the office, I lack Mr. Chesky's expertise, business abilities, and confidence. I
cannot compare myself to him because he is a successful and well-known individual. Because I have
greater strengths than Ms. Phuc, I believe I can conquer the hurdles and obstacles in the business path:

- First, you must develop yourself and overcome your weaknesses in order to grow your business
in the direction you choose.
- Effectively promote products to consumers.
- Plan your time so that unconnected events do not interfere with your business.

2. Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset

a. Characteristics of successful entrepreneurs:

- Self-motivation is one of the most vital characteristics of an entrepreneur if you want to
be successful in anything. Even if you don't receive your paycheck immediately away, you
must stay focused on your plan and keep pushing forward.
 - Patience: Successful people know how to wait for the appropriate moment, not because
they are impatient, but because they are afraid of ruining significant things. This quality,
especially at work, allows us to diligently learn from the experiences of our coworkers.
- Creative: Becoming an entrepreneur necessitates the development of a concept.
Creativity is a means of improving work and bringing answers to the public.
- Passion: Successful entrepreneurs are driven by burning desires. Because they adore and
sympathize with the product, service, or mission. When you are disheartened, passion will
help you discover motivation and will motivate you to move forward.
- Money management: In order to grasp their company's financial status, entrepreneurs
must have information as well as money management abilities. They will be able to run
the company more easily from there.
- Adaptability: It is critical to be flexible in your schedule as well as in your thinking in order
to continue progressing in difficult conditions.
- Ability to network: The ability to connect with people and recognize chances for
collaboration is critical to entrepreneurship success. It enables you to learn from others'
successes, promote your services or products, and meet new clientele.

b. Entrepreneur vs Manager vs Business:

Entrepreneur Business Manager
Meaning Someone who A businessperson is The individual in charge
produces money by someone who starts a of managing an
beginning their own business in order to organization and
business, particularly produce cash flow, accepting responsibility
when this entails sales, and revenue. for their actions and
recognizing a new job.
opportunity and taking
risks.
Business idea Business concepts are Create a company idea
"hot" and can create and invest a lot of time,
enormous profits. money, and effort into
 creating it.
Status Founders, co-founders, Founder, owner, or Employee
and leaders and major shareholder of a
managers of all small commercial enterprise.
businesses.
Goals Business startup, make Profit or power, Understanding how
a profit pleasing customers or management fosters
providing a better life unity, directs
for their employees organizational
development, and
fosters a learning
environment for all
employees.
Reward Profit Profit and share Salary
Risk Capital, human Manage, brand, legal HR management, work
resources, competitors, risks, operation schedule, decision
price. strategy, competitors making

c. Example successful entrepreneurs and analysis of personality and skill Mindset.

Mrs. Thai Huong is one of the successful entrepreneurs we must mention. She is a well-known
Vietnamese businesswoman who was born and reared in the province of Nghe An. She holds a
bachelor's degree in financial accounting from National Economics University. She returned to work as a
State official at the Hai Phong Finance Department after graduating. However, after a while, she chose to
leave this position in order to start her own business. Ms. Huong is currently the Chairman of TH True
Milk Joint Stock Company, as well as the Vice Chairman of the Board of Directors and General Director of
Bac A Commercial Joint Stock Bank. Choosing the most arduous path of investment in agriculture -
growing grass, raising cows, processing milk, Ms. Thai Huong and TH created the first revolution - the
fresh milk revolution, opening the way new to the dairy industry in Vietnam. With the initial charter
capital of 20 billion dong, after 26 years of construction and development, up to now, Bac A Commercial
Joint Stock Bank has reached 7,085 billion dong of charter capital and has been operating throughout the
country. (Thanh Nien, 2021)

Personality, Skill, and Mindset: As an entrepreneur, she affirms the courage to develop a company
strategy at each step of investment. Ms. Thai Huong's persistent business attitude is to maximize profits
while also streamlining benefits, always with a focus on the community and the benefit of consumers. As
a Buddhist, she considers the community in whatever she does. 'Personally, the most essential thing is to
do activities that I enjoy and have value for the community,' she added. Not only that, but she is a
woman who is resolute in life and in public. She also struggled nonstop for the product, so that the cup
of milk placed into school must have research requirements adequate for the absorption of youngsters.

d. Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship
Entrepreneurship can be hampered or aided by experience or background. We can see that if you have
solid experience in anything like management, teamwork, etc., you will be more confident in your ability
to sustain your business in the long run. You are eager to establish a business the accumulation of life
experience has a greater influence on entrepreneurship. Furthermore, persons with a personal past or
who receive the necessary support from friends and family will be driven to start a business. Financial
background can also have an impact on an individual's capacity to take risks and establish a business, as
some entrepreneurs rely on family funds to expand their businesses. Effective experiences and expertise
assist connect the company's resources with the company's goals more efficiently, whereas ineffective
experience or background stymies start-ups. Family is everyone's basis; without the support of family
and friends, many people give up on entrepreneurship.

III. Conclusion:

Because today's economy is growing so quickly and so strongly, doing business necessitates the
appropriate knowledge and abilities. From there, prospective businesses can spend their time and
money anywhere they choose. Knowing how to develop our talents and personality has helped us with
various initiatives and business chances.
Reference:

1. Thanh Nien (2021) ‘Bac A Bank chinh thuc nien yet tren san HNK’ thanhnien.vn [online]. Available
at: https://thanhnien.vn/bac-a-bank-chinh-thuc-niem-yet-co-phieu-tren-san-hnx-
post1042706.html (accessed 1 Jul 2022).