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This report will be based on a local newsagent in Tottenham. "What is the most important enterprise skill needed by the owner of the business you have chosen?"

Extracts from this document...

Introduction

Christopher Nguyen Broomfield School Centre Number: 12504 Business/Economics Controlled Assessment Unit Code: 5BSO2 What is the most important enterprise skill needed by the owner of the business you have chosen? Introduction This report will be based on a local newsagent in Tottenham. I have chosen this business because it is a local business which is less than a five minute walk from my house and I know the entrepreneur quite well as I use to go there every week a few years ago. The newsagent is an established business which has been open for over fifteen years. I will be using seven appendices to use as evidence to back up my conclusion to this report. Appendix 1 is a picture of the newsagent I am researching. Appendix 2 is a picture of the entrepreneur of the newsagent. This is the entrepreneur that I have interviewed and who this report will be based on, along with his newsagent business. Appendix 3 is a copy of an unanswered questionnaire. Appendix 4 is a questionnaire with the answers the entrepreneur provided me with during our interview. Appendix 5 is a map which shows where the newsagent is and where its competitors are. Appendix 6 is an article found on the internet which shows the most common enterprise skills found in successful entrepreneurs. ...read more.

Middle

Both enterprise skills are necessary for survival, but this isn't enough to single out on enterprise skill as important yet. Successful Entrepreneur Skills, Internet Article (Appendix 6) The fourth question helps me identify the enterprise skills that the entrepreneur actually has. From the selection, the entrepreneur had persistence, single-mindedness, commitment, problem solving and organisation as skills. This question allows me to further identify the skills the entrepreneur has, but may not be required to survive. The results also allow me to gauge how successful the entrepreneur should theoretically be in terms of survival. The skills selected help me get a better understanding of the skills required to run a newsagent successfully. This can also be referred to Appendix 6 which states the most common enterprise skills required to be a successful entrepreneur. The entrepreneur I interviewed has at least half of the skills required. Appendix 6 was acquired from the very reliable website "business link". It is a website run by the government and many entrepreneurs use it to help them start up a new business. This is the reason why I took an article from this particular website and used it to influence the questions on my questionnaire. Questionnaire, Question 5 Results Table (Appendix 7) The fifth question allows me to further investigate the skills that the entrepreneur actually thinks are important from his fifteen years of experience. ...read more.

Conclusion

These pieces of research have all been important in the process of coming to a conclusion. So, considering all the research that I have done, I have come to the conclusion that problem solving is the most important enterprise skill required by the entrepreneur of the newsagent. What caused me to come to this conclusion was profoundly influenced by the results of the questionnaire. The question this report is based on required me to find out the answer from the entrepreneur himself, so I'm unable to say whether the entrepreneur is right or wrong in choosing problem solving skills. However, I agree with his choice as there are many problems in general life, so there would be more problems if you're running a business for example. There's more stress when running a business as it may be your only source of income making problem solving all the more important, and maybe even more important than commitment which I have analysed as ranking second to problem solving skills over the whole results of the questionnaire. To conclude this report, the entrepreneur of the local newsagent in Tottenham who I know quite well has answered my questionnaire in such a way that I have analysed problem solving skills as the most important enterprise skill essential to run a newsagent in Tottenham. Especially when the newsagent has competitors which are much more powerful, problem solving becomes even more of an indispensable skill. ?? ?? ?? ?? Final Write Up Christopher Nguyen 11I Page 1 ...read more.

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