The Mindset of an Entrepreneur
P5) Determine the characteristic traits and skills of successful entrepreneurs that differentiate them from other business managers.
An entrepreneur is an individual who takes initiative by planning a venture which an opportunity is available for them to benefit from. They are people who supply risk capital as a risk taker, as well as the one who controls and monitors the activities of the business. Entrepreneurs are commonly sole proprietors, a partner or the major shareholders in an incorporated venture.
Business managers in general are people who are in charge of overseeing daily operations and employees in organizations. Depending on the size of the business the role of business managers varies. In bigger companies managers are usually the …show more content…
They tend to be innovators in whatever industry which they have delved upon. While on the other hand, managers keep his/her attention on the vision other individuals. Managers also can be innovators with that being said they don’t start different businesses or open up unique markets, they innovate through the handling of their employees, by motivating them to work better or by coming up with a way to efficiently use resources. (Jared Lewis, 2001)
P6) Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset.
According to the Oxford dictionary the definition of personality is “the combination or qualities that form an individual’s distinctive character”. These traits consist of human abilities, motives, values, attitudes and characteristics which help mold an individual’s experiences and actions.
Therefore entrepreneurial personality refers to the psychology and personality aspects that could play an important role in an individual’s tendency towards their entrepreneurial actions. (Marius Kahlert,
P5) Determine the characteristic traits and skills of successful entrepreneurs that differentiate them from other business managers.
An entrepreneur is an individual who takes initiative by planning a venture which an opportunity is available for them to benefit from. They are people who supply risk capital as a risk taker, as well as the one who controls and monitors the activities of the business. Entrepreneurs are commonly sole proprietors, a partner or the major shareholders in an incorporated venture.
Business managers in general are people who are in charge of overseeing daily operations and employees in organizations. Depending on the size of the business the role of business managers varies. In bigger companies managers are usually the …show more content…
They tend to be innovators in whatever industry which they have delved upon. While on the other hand, managers keep his/her attention on the vision other individuals. Managers also can be innovators with that being said they don’t start different businesses or open up unique markets, they innovate through the handling of their employees, by motivating them to work better or by coming up with a way to efficiently use resources. (Jared Lewis, 2001)
P6) Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset.
According to the Oxford dictionary the definition of personality is “the combination or qualities that form an individual’s distinctive character”. These traits consist of human abilities, motives, values, attitudes and characteristics which help mold an individual’s experiences and actions.
Therefore entrepreneurial personality refers to the psychology and personality aspects that could play an important role in an individual’s tendency towards their entrepreneurial actions. (Marius Kahlert,