BBI2O BUSINESS LEADERSHIP NAME: _Mani Majd_

KNOWLEDGE:

TRUE OR FALSE - circle the best answer. (10 marks)

1) True or False The rapid change in technology is a ec ng the way exis ng business operates
while o ering many opportuni es for entrepreneurs.
2) True or False Successful entrepreneurs start with a lot of money and have business degrees.
3) True or False Entrepreneurs and successful businesses iden fy consumer wants and needs and
take calculated risks to meet these wants and needs.
4) True or False You need a posi on or job tle to be an e ec ve leader
5) True or False Disrup ve Technology develops slowly, so companies have me to adapt.
6) True or False The 4 colours in the Personality Dimension tests are Black, Green, Blue and Red.

7) True or False Non-ac on is an op on for leaders.

8) True or False Manager’s are required to Plan, Organize, Lead and Control
9) True or False Self-con dence can be learned and developed through experience and
educa on.

10) True or False Successful entrepreneurs and leaders are born as they have a natural ability.

APPLICATION:
11) List 3 characteris cs of a successful Leadership and Entrepreneur (6 marks)

Successful Leadership Characteris cs Successful Entrepreneur Characteris cs

Know the company’s goal and what to Ac on oriented
accomplish

Ac ons consistent with communica on Have high energy and high need for achievement

Great ability to in uence on other people Self-directed and self-con dence

Self- Con dence Crea ve thinking and innova ve

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 12) Explain why a successful leader has many entrepreneurial quali es. (3 mks)
As you know, entrepreneurs and leaders are very similar characters and they both have many similar
quali es. So, a successful leader has many entrepreneurial quali es. In other words, the main reason
is that most of the entrepreneurial quali es help a leader to become successful and therefore we
can say that a successful leader has many entrepreneurial quali es. In this ques on, we are going to
talk about the most important entrepreneurial quali es a successful leader has and how it makes a
leader successful.
1. Self-con dence: Self-con dence which is an entrepreneurial quality can help a leader to
communicate e ec vely, and to mo vate and in uence others. A leader’s inner con dence is
o en revealed in their external behaviours, including their tone of voice and body language. If the
team senses self-doubt, they could begin to lose con dence in their leader. Therefore, this
entrepreneurial quality is found in successful leaders.
2. Crea ve thinking: Crea ve thinking which is an entrepreneurial quality can help a leader to be
innova ve and nd crea ve ways to solve challenging and complex problems during a crisis.
Therefore, this entrepreneurial quality is found in successful leaders.
3. Ac on-oriented: Ac on orienta on which is an entrepreneurial quality helps a leader to realize a
problem quickly and take precise and fast ac ons in order to address the issue. This is a very
important quality and successful leaders must have this quality in order to lead and control the
situa on be er. Therefore, this entrepreneurial quality is found in successful leaders.
These were the most important quali es related to entrepreneurs that each successful leader must
have in order to become successful. In conclusion, the main reason why a successful leader has
many entrepreneurial quali es is that most of the entrepreneurial quali es help a leader to become
successful and therefore we can say that a successful leader has many entrepreneurial quali es.

THINKING AND INQUIRY

13) According to the Personality Dimension Test, what is your dominant Color
Personality? (2mks)
a) __Green___

According to the Personality Dimension Test, my personality true colour is 60% green, 20% Gold,
15% blue and 5% orange. Therefore, my dominant personality colour is Green.

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 14) Comment on the accuracy of the test with respect to your personality. (4 mks)
I think that the Personality Dimension Test result was very accurate about me. This is because I have
many of the personality traits that a “Green” personality person must have. For example, I am very
logical and I mostly think logically which is a basic part of the green personality category. Moreover, I
am very innova ve, crea ve and analy c as well which also agrees with the Green colour
personality. To add more, The jobs mos appropriate for the green personality dimension are doctors,
lawyers, engineers, or scien sts. These jobs are also the most interes ng and favourable jobs for me
as well and I think the green colour personality completely ts me. Therefore, I think the test is
pre y accurate because my own personality and favourite career pathways are completely similar to
those for the Green personality dimension.

15) Provide 2 examples of how someone with your Personality Dimension, can be an e ec ve
Leader/Entrepreneur/Manager. (4 mks)
So a person with a Green personality dimension is very logical, innova ve, analy cal and has
strategic thinking abili es. This person can use these very crucial skills to be an e ec ve
entrepreneur, leader or manager. For example, By using crea vity and innova ve thinking, a person
can become a good entrepreneur because entrepreneurs need to be crea ve to be able to produce
innova ons. He/ She can also provide the market with crea ve products that can solve problems
and meet customers’ needs. Therefore, A green personality trait can help a person by using
crea vity to make disrup ve innova ons in the marketplace. Or For example, strategic thinking can
help a person with a Green personality dimension to plan out the ways to meet the goal of the
company. In other words, Strategic thinking enables entrepreneurs and leaders to determine how to
use these resources most e ec vely and advance the company toward its objec ves. To conclude, a
person with a green personality dimension has many useful traits and skills that can be used to
become an e ec ve entrepreneur/ leader/ manager.

COMMUNICATION - 14 marks total

Bella Bellagio nished college with a veterinarian diploma. She loves
dogs and has completed a course on dog grooming. Bella is thinking
about star ng a dog walking and grooming business, however, is
discouraged as she believes that:
1) You need a lot of money to start a business
2) Entrepreneurs are gamblers, and she does not like to gamble
3) She does not have the natural talent to start a business
As a consultant, how would you respond to the believes she has about entrepreneurs. (6 marks)

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 In general, I would tell her that all these beliefs are Myths about entrepreneurship and they are not
true.
1) First of all, I would tell her that you won’t always need to have a huge amount of money to start a
business. It generally depends on the type of business you want to start. If you want to start a
corpora on type of business like Uber, then you would need a lot of money, but there are lots of
businesses you can start with very li le money or no money at all. The easiest type of business to
start with no money is a service business (like a Computer-repair or consul ng business) where the
customer pays you for the value and me you give the customer. There are also thousands of
businesses you can start with li le money, most especially over the internet, like building a blog or
web development or even programming an applica on. To add more, I will also tell her about many
successful entrepreneurs who didn’t have a lot of money but succeeded in this way such as Bill
Gates and Steve Jobs. Finally, I think that she will understand that she doesn’t necessarily need a lot
of money to start up a business and hope this will convince her.

2) In the second place, I would tell her that this statement isn’t really true. Entrepreneurs are not
gamblers. Entrepreneurs take calculated risks which are completely di erent from gambling. In
other words, good entrepreneurs are calculated risk-takers. They do depend on luck to some extent,
but if they are experienced and/or have good partners and advisors, t they don’t have to depend on
luck so much and they would most bene t from the risks they take. Moreover, I guess if you wanted
to compare them to gamblers, you could compare them to those gamblers I men oned above who
use “card coun ng” or other techniques that go against the house rules. In conclusion, I can say that
this statement isn’t true and Bella who wants to become an entrepreneur doesn't need to gamble.

3) Finally, I would tell her that she doesn’t necessarily need to have natural talents to start a business
and become a successful entrepreneur. Many people assume that entrepreneurs are born that way
and that only people who have certain natural talents can be entrepreneurs. However, the truth is
that almost anyone can become an entrepreneur if they can learn the necessary skills. This is true
that some people may adjust to the demands of the role more quickly if they have natural
entrepreneurial talents, but there’s no rule that says only certain types of people can start
businesses. We need to remember that Entrepreneurism is a learned skill, not a natural-born ability.
Moreover, I will tell her about many di erent entrepreneurs that succeeded in this way with no
natural talent. I think that will convince her to forget the myth and focus to start up her business.

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 In the neighbourhood, where Bella lives, the going rate for a dog walk is $25 an hour and at this
price, most dog walkers in her community are booked and there are few dog walkers coming into
the community. You are Bella’s business consultant, prepare a report for her regarding the
following:
What can she do to start a successful dog services business in her neighbourhood? (4 mks)
Basically, there are several things she can do to actually start a successful business and there are
several methods she can use in order to successfully enter the market and a ract more customers.
First of all, she needs to gure out a catchy and playful name for her business in order to a ract the
eye of poten al customers. Then she can gure out how to set up her business. In other words, she
needs to determine which ownership she wants to have. I think she can start with a sole-
proprietorship because it costs less and is easier for starters. A er that, she needs to understand the
market of dog walking. She needs to research and determine who her compe tors are, what her
poten al clients are and what are the demand rate for her service in the neighbourhood. Basically,
she needs to get a good idea of the market she is opera ng in. A er that, she needs to set the
correct price for her product. Since she is entering the market it is recommended for her to set a
price a li le bit below her compe tors who charge $25. I would recommend her to set a price 10%
lower than her compe tors which is going to be approximately $22.5. In other words, any price in
the range of $20 - $25 would be good for her and would be a good star ng point. She can also use
many other methods to a ract more customers to increase the demand. She can create a website
and applica on for her business, she can put special o ers and discounts and she can adver se more
on social media such as pos ng on Instagram. For example, she can set an o er that says that if
there are more than 1 dog up to 3 dogs, she will charge only 10% for the second, and third dogs and
this will a ract all customers who have more than 1 dog. All these techniques help Bella to increase
her demand which would eventually increase her pro t. Finally, I would recommend her to
insurance herself and her business with dog walking insurance in order to keep herself and the
business safe when accidents happen during work. To conclude, I can say that I would recommend
her to follow all of the above steps and also keep in mind that every start-up business has challenges
and she needs to be focused all the me and never give up.
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 What price per hour would you recommend Bella charge and why? (4 mks) ----------------! over

I would recommend her to charge anywhere in the range of $20 - $25 that she can and she is able to
pro t when subtrac ng expenses from revenue. But if I want to be more speci c, most economists
say that decreasing the average price rate by 10% is a good amount of price to keep your pro t as
well as increase your demand and compete with your old and new compe tors who are entering the
market. In Bella's case, we can say that the price of $22.5 would be the best choice for her to earn a
fair amount of pro t as well as get a bigger share of the market and increase demand. The actual
reason is that more customers will tend to buy your product or service if it has a lower price and this
leads to an increase in demand. This increase in demand will cause the demand curve to shi right.
When this happens, the new equilibrium point will be above the old equilibrium point. At the old
equilibrium price, supply is less than demand and this is called a shortage. In shortages, prices tend
to go up and as a result, the quan ty goes up. Sales is equal to price mes quan ty. When price and
quan ty go up, sales would also increase. When sales increase, pro t increases. This is the actual
reason why a lower price and a price of $22.5 is recommended. On the other hand, when most dog
walkers are booked at $25, it shows that people tend to pay about $25 and we shouldn’t lower the
price by a lot and about 2 or 3 dollars would be enough.
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