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There are basically three personal qualities of entrepreneurs. It should be known that the personal qualities of the entrepreneurs alone cannot guarantee success and therefore the, seven personal characteristics of entrepreneurs as follows below should be considered as they help to blend with the personal qualities and make a business success.

While doing some research I found that a franchise agreement is a binding legal contract that is signed between a franchisor and franchisee. A franchisor is the company owning the rights to grant franchises to franchisees, while a franchisee is a person or entity who is given the right to conduct business by a franchisor or licensor. The most important definition however is that of a franchise which is an authorization granted by the government or company to an individual or group allowing them to carry out certain commercial activities.

2. Do you recognize any of the entrepreneurial personality characteristics in yourselves? Which ones? Do you think it’s possible for a person to develop the characteristics that he or she lacks? Why or why not?

Well to me it depends on the mind-set of an individual, his/her innate abilities and capabilities. I myself broadly classify entrepreneurs into two types, The Inventors (those who with their discrete and genius intellect pioneer goods and services that never existed) and the Innovators (take existing idea and innovate it with their brilliance). It is the category that defines the set of skills, traits and characteristics suited to that entrepreneur. For example the first type of entrepreneurs i.e. Inventors are revolutionary blended with growth orientation. They want to revolutionize the market or industry and grow at some rate so that their product becomes a necessity e.g. Thomas Edison, While on the other hand

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What Is Market Segmentation? Market segmentation is a way of dividing the market into groups of consumers/customers which share similar features

Difference between entrepreneurs and business people are entrepreneurs create needs and business people satisfy with needs. An alternate advantage thought this is less apparent is that those Change Agents who are well dealt with consequently emerge as a model of behavior to be trailed by whatever is left of the gathering entrepreneurships are the individual with an exceptional mind-set in order to maximize profit. Therefore their approaches are closely secured to be success. They grab the opportunities that no one noticed ever (Abu-Saifan, 2012). For

According to Horner and Swarbrooke (2005: 39), Segmentation may be defined as the process of dividing a whole market into subgroups or segments for marketing management purposes. Market segmentation is the division of the overall market for a service into various categories with common characteristics. In response to different segments, organisations facilitate the available resources to achieve greater efficiency, in order to satisfy specific needs of customers.

Market segmentation is a process of segregating the market into different smaller groups. A market comprises of large number of heterogeneous customer base with distinct tastes and preferences. A marketer needs to classify and segment people into smaller homogeneous groups basis similar characteristics, tastes, preferences, likes, etc. so that they will respond in a similar fashion to a particular product launched for that segment. Thus, market segmentation can be defined as, “the sub-dividing of a market into homogeneous subsets of customers from the

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

There has been extensive research conducted on the characteristics that successful entrepreneurs possess. These attributes vary widely across literature, however there are common key traits that are required to achieve any form of success. Frederick et al (2013) suggest entrepreneurs are risk takers, optimistic, have sound judgement and an ability to manage. While a review of literature relating to the psychology of an entrepreneur reveals a large variety of characteristics in a successful entrepreneur, these can be consolidated to a a few into only a few traits that are essential for a successful entrepreneur. Whilst taking into

Market segmentation refers to a marketing concept which divides complete market into smaller segments. One market segment is totally distint from the other segment, therefore each company has to design a business tool or known as marketing mix that precisely matches the expectations of consumers in the targeted segments. All together, there are four basic market

Don 't panic though because I can now share with you some options for starting your own business. The reality is that there are various ways to turn what you love into an income and with that said, here are my 6 Ways To Turn Your Passions Into Profits.

You’re a creative so you are constantly coming up with new and wonderful ideas, whether they apply to specific projects or are inspired elsewhere. Your offering be a physical product, an idea, a service that you offer, or even regular events on your expert subjects. Anything can be monetised when there’s a market for it.

It is widely agreed that certain personality traits are important to being a successful entrepreneur. If we are not born with those innate characteristics, psychologists believe that we do have some ability to adopt new ones or influence ourselves to a certain degree.