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Issued Date: 21/09/2020

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ASSIGNMENT
Course Tittle Pearson BTEC Level 5 Higher National Diploma in Business

Unit Number and Title: Unit 09: Entrepreneurship and Small Business Management (ESBM)

Assignment Title Exploration of the Entrepreneurial Mindset

Name of the Learner Suhail Dilsard

Ref. No. of the Learner 1020162 Pearson Regd. No.

Assignment Number 02 Batch No & Semester HND B 46 / 03

Issue Date 19.12.2021 Submission Date 26.02.2022

Date Received 1st
Re-submission Date
submission
Unit Assessor: Mr. Sanjeevan Academic Year 2021

Assessor’s Feedback

Grade: Assessor Signature: Date:

Resubmission Feedback

Grade: Assessor Signature: Date

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

Please note that grade decisions are provisional. They are only confirmed once internal and external
moderation has taken place and grades decisions have been agreed at the assessment board.
 actions in future works as required and indicated. Date
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of someone else's work, taken from a published (or unpublished) article, a book, a website, a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:

Unit Learning Outcomes:

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

LO4 Examine the different environments that foster or hinder entrepreneurship

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 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

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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.

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 Formative Feedback
Grading Criteria Achieved Feedback
(Y / N)
P5 Determine the characteristic traits and
skills of successful entrepreneurs that
differentiate them from other business
managers.

P6 Assess how aspects of the entrepreneurial

personality reflect entrepreneurial motivation
and mindset.

P7 Examine, using relevant examples, how

background and experience can hinder or
foster entrepreneurship.

M3 Explore and examine different lines of

argument relating to entrepreneurial
characteristics.

M4 Analyze the link between entrepreneurial

characteristics and the influence of personal
background and experience to specific
successful entrepreneurs.

D3 Analyze the characteristic traits, skills and

motivational drivers of successful
entrepreneurs, supported by specific
examples.

D4 Critically evaluate how background and

experience influences entrepreneurs, both
positively and negatively, by comparing and
contrasting examples.

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Report Format

Final Assignment must include the followings

 Assignment cover and the assignment given

 Acknowledgement
 Table of contents
 List of table and list of figures
 Abbreviations
 General introduction to the whole report
 Each and every task in 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.

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TABLE OF CONTENTS

Slide 1...................................................................................................................................8
Slide 2...................................................................................................................................9
Slide 3.................................................................................................................................10
Slide 4.................................................................................................................................11
Slide 5.................................................................................................................................12
Slide 6.................................................................................................................................12
Slide 7.................................................................................................................................13
Slide 8.................................................................................................................................14
Slide 9.................................................................................................................................15
Slide 10...............................................................................................................................16
Slide 11...............................................................................................................................17
Slide 12...............................................................................................................................17
Slide 13...............................................................................................................................19
Slide 14...............................................................................................................................22
Slide 15...............................................................................................................................22
Slide 16...............................................................................................................................23

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SLIDE 1

This presentation will provide with an overview of entrepreneurship and of the language of
entrepreneurship. The challenges associated with defining entrepreneur and entrepreneurship are
explored, as is an overview of how entrepreneurship can be studied. Today I’m going to present
about the Mindset of the Entrepreneurs’.

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SLIDE 2

Whilst there is no universally accepted definition of entrepreneurship, it is fair to say that it is multi-
dimensional. It involves analyzing people and their actions together with the ways in which they
interact with their environments, be these social, economic, or political, and the institutional,
policy, and legal frameworks that help define and legitimize human activities.

Entrepreneurship involves such a range of activities and levels of analysis that no single definition
is definitive.

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SLIDE 3

To get a clear idea of what Entrepreneurs and Entrepreneurship is it is necessary to het these
questions cleared and answered. They are as follows.
Is it necessary to launch a company from scratch to qualify as an entrepreneur?
Can we still refer to someone as an entrepreneur if they acquire an active company from another
party or take over the management of a family firm from their elders?
Can someone be referred to as an entrepreneur if they launch a small firm without ever having to
hire staff?
Is someone considered an entrepreneur if they purchase a company but then employ qualified
management to run it so they won't have to be involved in the day-to-day operations?
If someone purchases a franchise so they may operate the business using a tried-and-true
formula, is that person an entrepreneur?
Is being an entrepreneur a result of what one does or a result of one's mindset?

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SLIDE 4

Before we can get into an examination of entrepreneurship, we need a common understanding of

the term. According to Gartner (1990), there are 90 characteristics shared by entrepreneurs and
other specialists when defining the nature of entrepreneurship.
Some examples of these characteristics are as follows:
Is it necessary to be innovative to be an entrepreneur? Can something still be deemed
entrepreneurial if it doesn't involve any new approaches or ideas?
To what extent does being an entrepreneur depend on one's participation in specific activities?
Does someone have to create a new firm from scratch to be deemed an entrepreneur, or can
someone be an entrepreneur if they acquire an existing company, join a franchise, or take over
the family business?
Creates a new business unit within an existing company - Can an employee of a company they do
not own but work for be considered an entrepreneur if they create a new business unit within their
company?
Can an enterprise be deemed entrepreneurial if it is a not-for-profit, or should only for-profit
ventures be so labelled?

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SLIDE 5

The concept that entrepreneurs are those with special sets of skills and traits is central to the
entrepreneur theme (e.g., risk-taking, locus of control, autonomy, perseverance, commitment,
vision, creativity). Nearly half of those surveyed disregarded these traits as irrelevant to
entrepreneurship.

SLIDE 6

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SLIDE 7

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SLIDE 8

Jiffry Zulfer – Local entrepreneur

Jiffry Zulfer is the founder of PickMe, the Sri Lankan version of Uber, and he has worked to
understand more about GPS and GIS system, coupled with the knowledge of good business, he
and some partners worked together in bringing the concept to live for the locals.

Jiffry and his team worked on the concept, and succeeded in convincing investors, though still
something new, but something unique on what Uber didn’t already have as at then. And as the
team wanted to revolutionize the so-called tuk tuk system in Sri Lanka, the features of PickMe
were what interested the people more, and the use of Google Maps and GPS system made
tracking easier, also easier to calculate the fare as well.

It is currently a heated competition between “PickMe Vs Uber” which is taking over the taxi
industry in Sri Lanka

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SLIDE 9

Global entrepreneur – Bill Gates

My chosen entrepreneur is Bill gates as William Henry Gates (popularly known as Bill Gates) is an
American business magnate, investor, author, and philanthropist. He is the founder of Microsoft,
which he launched along with Paul Allen in 1975.

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SLIDE 10

The fact that Bill Gates had a head start on his career is one of the key reasons for his enormous
success. You won't believe how young he was when he started working with computers; he was
only 13 years old at the time.

It is true that he had an interest in computers at a young age, and that interest was the driving
force behind his enormous amount of success in later years, when he founded Microsoft.

At a young age, Bill Gates was able to become his own employer, despite the fact that he
collaborated with dozens of other people, including Paul Allen. If you want to be as successful as
Bill Gates, you should get an early start and focus on achieving your own goals. He didn't
squander any time working for other people.

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SLIDE 11

SLIDE 12

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Social Enterprise – Lanka Social Ventures

The objective of Lanka Social Ventures is to encourage and support entrepreneurialism and
innovation as a means of effecting social change and ensuring the sustainability of the
environment.

They provide assistance to individuals, groups, community organisations, and small and medium-
sized businesses that are entrepreneurial and inventive in order to facilitate their growth and
transformation into "social enterprises" that are profitable and financially sustainable.

They are of the opinion that social entrepreneurs, if properly supported and encouraged, have the
potential to drive social change through fostering regional economic expansion, innovation, and
the accumulation of social capital.

Social entrepreneurship incubator and accelerator programme, social entrepreneurship academy,

social trading, research and consulting, knowledge hub, and funding are the services that are
provided by this organization.

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SLIDE 13

Taking risks

One of the primary (and ongoing) challenges of starting a business is managing uncertainty.
There are always risks in business, whether it's losing customers or passing up a chance to avoid
burnout. Ample evidence exists in the relevant literature to support the thesis that entrepreneurs
have a higher risk tolerance than do general managers.

The reality is that starting a business is a bold step, yet risk-takers can push through the initial
waves of doubt and eventually succeed.

Passion

Having a genuine interest in what they're doing is crucial for any entrepreneur's success. Many
would-be business owners fail because they lack a true passion for the task they are doing and
give up when the going gets tough.

Because passion is not a trait that can be learned or developed, it was not included in the Harvard
study. However, many studies in the field of entrepreneurship show that enthusiasm plays a
significant role in the beginning, maintenance, and ultimate success of any venture.

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Vision

In order to create and expand a company, entrepreneurs must have a clear picture of the end
goal and the path to get there. According to studies conducted by Harvard Business School on
the traits of successful business leaders, vision and influence are two of the most important
qualities for a successful business founder.

Confidence

The Harvard research notes that business leaders who started their companies had more self-
assurance than non-founders and managers in general. It was deduced from the study that
confidence also reinforces other success factors such as "comfort with uncertainty," "ability to
develop networks," and a few others.

Motivation
Being motivated to work long hours without a guaranteed reward (and risking becoming worse off)
is a common characteristic of successful entrepreneurs.

Decisive

Another popular characteristic among our group of entrepreneurs was “the ability to make
decisions” or “take action.” In the NBER paper, researchers describe this as having an “internal
locus of control”: a belief that your own decisions control your life.

Discipline

Most of us know that it takes a fair amount of discipline to be your own boss, build a business
from the ground up, and achieve long-term goals. This kind of discipline can look different for
each of us, from developing an efficient workflow to keeping an eye on the cash flow

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Curiosity 

Another common trait found among our entrepreneurs is curiosity. This can help you discover new
products and tools that will boost efficiency (such as using chatbots that engage customers) and
help you improve yourself as a business leader.

Resilience

the most common trait an entrepreneur needs to possess is resilience (or very similar attributes,
like perseverance), since it isn’t a trait directly related to specific skills

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SLIDE 14

SLIDE 15

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SLIDE 16

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