GBS210099-Nguyen Manh Quan - 1004B - As01

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 5 HND Diploma in Business
Unit number and title Unit 9: Entrepreneurial Ventures (5047)
Submission date Date Received 1st submission
Re-submission Date Date Received 2nd submission
Student names & codes Final scores Signatures
1. Nguyen Manh Quan – GBS210099
2. Nguyen Truong Ngoc Loc - GBS210478

Group number: 4
3. Nguyen Huy Hoang – GBS210482
4. Nguyen Phuong Uyen Nhi – GBS210428
5.
Class Assessor name
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.
P1 P2 P3 P4 M1 M2 D1
OBSERVATION RECORD
Student 1 Nguyen Manh Quan
Description of activity undertaken
I created a business canva model for the company
as well as operational solutions and strategies
Assessment & grading criteria
How the activity meets the requirements of the criteria
Student
Date:
signature:
Assessor
Date:
signature:
Assessor
name:
OBSERVATION RECORD
Student 2 Nguyen Huy Hoang
Build mind sets for the company and appropriate strategies
Student
Date:
signature:
Assessor
Date:
signature:
Assessor
name:
OBSERVATION RECORD
Student 3 Nguyen Phuong Uyen Nhi
Student
Date:
signature:
Assessor
Date:
signature:
Assessor
name:
OBSERVATION RECORD
Student 4 Nguen Truong Ngoc Loc
Student
Date:
signature:
Assessor
Date:
signature:
Assessor
name:
OBSERVATION RECORD
Student 5
Student
Date:
signature:
Assessor
Date:
signature:
Assessor
name:
 Summative Feedback:  Resubmission Feedback:
Grade: Assessor Signature: Date:

Internal Verifier’s Comments:
Signature & Date:

Table of Contents
TASK 1. ....................................................................................................................................................................................................................................................... 10
I . BUSINESS MODEL ( CANVA ) ....................................................................................................................................................................................................................... 10

1.1. KEY PARTNER: ...................................................................................................................................................................................................................................... 12
1.2.KEY ACTIVITIES: ..................................................................................................................................................................................................................................... 13
1.3.VALUE PROPOSITIONS: ............................................................................................................................................................................................................................ 13
1.4.CUSTOMER RELATIONSHIPS: ..................................................................................................................................................................................................................... 13
1.5. KEY RESOURCES: ................................................................................................................................................................................................................................... 13
1.6.CHANNELS: ........................................................................................................................................................................................................................................... 14
1.7.COST STRUCTURE: .................................................................................................................................................................................................................................. 14
1.8.REVENUE STREAMS: ............................................................................................................................................................................................................................... 14
TASK 2 : THE ANALYSIS OF THE ENTREPRENEURIAL MINDSET ..................................................................................................................................................................... 15
1.PROVIDING AN INTRODUCTION ABOUT THE CHOSEN START-UP VENTURES AND THEIR FOUNDERS. ................................................................................................................................... 15
a) Serial entrepreneur (Sir Richard Branson) ........................................................................................................................................................................................ 15
b) Technology entrepreneur(Jeff Bezos) ............................................................................................................................................................................................... 15
c) Social entrepreneur (Blake Mycoskie)............................................................................................................................................................................................... 16
2.INVESTIGATING WHAT IT TAKES FOR THOSE ENTREPRENEURS, SERIAL ENTREPRENEURS, TECHNOLOGY ENTREPRENEURS AND SOCIAL ENTREPRENEURS, TO START AND GROW THEIR
ENTREPRENEURIAL VENTURES , USING A VARIETY OF EXAMPLES TO DEMONSTRATE YOUR FINDINGS. ................................................................................................................................... 17
a) Serial entrepreneur (Sir Richard Branson) ........................................................................................................................................................................................ 17
b) Technology entrepreneur(Jeff Bezos) ............................................................................................................................................................................................... 17
3.EXAMINING THE ENTREPRENEURIAL TRAITS AND CHARACTERISTICS OF THE CHOSEN ENTREPRENEURS............................................................................................................................... 18
a)Serial entrepreneur (Sir Richard Branson) ......................................................................................................................................................................................... 18
b) Technology entrepreneur (Jeff Bezos) .............................................................................................................................................................................................. 19
4.EVALUATING THE SIMILARITIES AND DIFFERENCES BETWEEN THOSE ENTREPRENEURIAL VENTURES AND IDENTIFYING COMMON TRAITS AND CHARACTERISTICS OF ENTREPRENEURS IN THOSE VENTURES. ... 22
5. EXAMINING THE CONCEPT OF ENTREPRENEURIAL MINDSET WITH EXAMPLES FROM THE CHOSEN ENTREPRENEURS. ............................................................................................................. 23
6.ANALYZING ENTREPRENEURIAL SKILLS AND CHARACTERISTICS OF THE CHOSEN ENTREPRENEURS ..................................................................................................................................... 26
7.CRITICALLY ANALYZING THE ROLE OF ENTREPRENEURIAL MINDSET FOR THE SUCCESS OF ENTREPRENEURIAL VENTURES AND WAYS IN WHICH ENTREPRENEURIAL MINDSET COULD BE ENHANCED AND
NURTURED. ................................................................................................................................................................................................................................................ 28
BIBLIOGRAPHY............................................................................................................................................................................................................................................ 29
Task 1.
I . Business Model ( Canva )
Key Partner: Key Activities: Value Propositions: Customer Relationships: Customer Segment:
- KOL : Su Tu An Chay - Selling process : Sell via -Save time: Khoe energy - Create a club: The Customers with high
- TPPVN ( main supplier) social networking bar can save time for a purpose of creating a exercise needs: For gym
- Small-scale gym platforms such as: Tik normal meal such as pho, club, to be able to goers, the need to
facilities Tok Shop, Shopee. or broken rice, helping connect its customers. supplement energy and
- Display products at the customers save time As a result, I will build a nutrients in food is very
main store and sell -Health: Energy bars are community of healthy important in the process of
directly rich in micronutrients, people. building and developing
- Risk management helping users quickly - Eating habits: usually muscle. Therefore, energy
- Marketing: help people reduce hunger, restore people will tend to eat bars are essential food for
gain more knowledge dynamism, and increase unhealthy snacks, exercise .
about energy bar concentration levels for the which in the long run Office people and students:
products, as well as the mind. will lead to diseases this is a customer segment
benefits of energy bars -Intangible value: with the such as obesity. that does not have much
for their nutrition desire to bring people a Therefore, our company exercise but uses the brain
- With the motto: ''Live vegan, healthy product and wants to aim for all a lot and to save time but
green, live healthy, live ingredients grown and types of healthy snacks still ensure enough
hard' harvested in Vietnam, such as energy bars nutrients for mental activity
ensuring the source of
Key Resources: domestic goods, creating Channels:
-Manufacturing Plant local jobs and improving Tik Tok : Khoe Enegry Bar
- Warehouse of raw the economy Shoppee : Khoe Enegry Bar
materials and products
- Suppliers
- Marleting and advertising
Cost Structure: Revenue Streams:
Investment costs in machinery to make products, packaging fees Sales from tiktok shop and shopee as well as in-store
Advertising and testing and product development costs sales.
Marketing and packaging costs of the product Sales come from distributing products to small gyms and
Environmental protection fee convenience stores.
1.1. Key Partner:
KOL: Collaborate with Su Tu An Chay, a key opinion leader in the health and wellness industry, to promote and endorse the energy bar products.
TPPVN: Partner with TPPVN, the main supplier, to ensure a stable and consistent supply of high-quality raw materials for manufacturing the energy bars.
Small-scale gym facilities: Establish partnerships with local gyms and fitness centers to distribute and sell energy bars to their members..
1.2.Key Activities:
Selling process: Utilize social networking platforms such as TikTok Shop and Shopee to sell the energy bars directly to customers online.
Display products at the main store: Set up a physical store to showcase the energy bar products and enable direct sales to customers.
Risk management: Implement strategies to identify and mitigate potential risks related to production, supply chain, and market fluctuations.
Marketing: Conduct marketing campaigns and initiatives to educate customers about the benefits of energy bars and raise awareness of the brand.
Emphasize the motto of "Live green, live healthy, live hard" to resonate with the target audience.
1.3.Value Propositions:
Save time: Highlight the convenience of Khoe energy bars as a time-saving alternative to traditional meals like pho or broken rice.
Health: Promote the micronutrient-rich composition of energy bars, which can help reduce hunger, restore energy, and improve concentration levels.
Intangible value: Emphasize the vegan and healthy nature of the product, as well as the use of domestically sourced ingredients, creating local jobs and
contributing to the economy.
1.4.Customer Relationships:
Create a club: Establish a community or loyalty program for customers, fostering a sense of belonging and connection among health-conscious individuals.
Eating habits: Target customers who are seeking healthier snack options to improve their eating habits and avoid the negative consequences of consuming
unhealthy snacks.
1.5. Key Resources:

Manufacturing Plant: Own and operate a production facility to manufacture the energy bars.
Warehouse of raw materials and products: Maintain a storage facility for storing raw materials and finished products.
Suppliers: Collaborate with reliable suppliers to ensure a steady supply of raw materials.
Marketing and advertising: Allocate resources for marketing campaigns, advertising materials, and promotional activities.
1.6.Channels:
TikTok: Utilize the popular social media platform to promote and sell Khoe energy bars, leveraging the influence of Su Tu An Chay as a key opinion leader.
Shopee: Utilize the e-commerce platform to reach a wider customer base and facilitate online sales.
1.7.Cost Structure:
Investment costs: Allocate funds for machinery and equipment required for energy bar production, as well as packaging expenses.
Advertising and product development costs: Budget for marketing activities, product testing, and continuous product improvement.
Marketing and packaging costs: Cover expenses associated with branding, packaging design, and marketing materials.
Environmental protection fee: Allocate funds for adhering to environmental regulations and sustainability practices.
1.8.Revenue Streams:
Online sales: Generate revenue through direct sales on social networking platforms like TikTok Shop and e-commerce platforms like Shopee.
In-store sales: Earn revenue from customers purchasing energy bars directly from the physical store.
Distribution to gyms and convenience stores: Establish partnerships with small gyms and convenience stores to distribute and sell energy bars, creating
additional revenue streams.
Overall, the business model focuses on producing and selling Khoe energy bars, targeting customers who prioritize health and seek convenient and
nutritious snack options. By leveraging key partnerships, online and offline sales channels, and a strong marketing strategy, the company aims to drive
revenue and build long-term customer relationships.
Task 2 : The analysis of the entrepreneurial mindset
1.Providing an introduction about the chosen start-up ventures and their founders.
a) Serial entrepreneur (Sir Richard Branson)
Sir Richard Branson, who is arguably one of the most well-known serial entrepreneurs of all time, began pursuing his entrepreneurial objectives
at a young age. In addition to starting his own student-run print publication called Student, he also launched Virgin, the first mail-order record
company, which ultimately grew into a recording studio and record shop.
Branson is one of the top serial entrepreneurs in the world and has since launched other businesses in the travel, beverage, and broadcasting
industries (Sagar, 2023).
Virgin’s restless spirit of entrepreneurship, innovation and market disruption has built up a diverse group of companies, which underpins the
Virgin Group’s 50 years of growth. At Virgin, we’re known for challenging the status quo and shaking up markets, while championing people
and the planet.Virgin's main goal and the reason we are here is to transform business for the better. It serves as the prism through which we view
all of our choices.Our principles are what keep our partners, employees, and customers on the right track to fulfill our purpose and deliver
amazing experiences (Virgin, 2023).
For half a century, the Virgin brand has been renowned for providing unique and exceptional customer experiences.
From the world class Virgin Atlantic Upper Class lounge and onboarding experience through to pioneering unique group exercise experiences at
Virgin Active - the whole business is built around our customers’ needs (Panda, 2020).
b) Technology entrepreneur(Jeff Bezos)

Jeffrey Preston Jorgensen. He is a world famous American technology entrepreneur and one of the richest billionaires on the planet up to now. Jeff
Bezos is an important person in the development of global e-commerce. bridge. He is the founder and CEO of the globally famous e-commerce
company Amazon. This is one of the largest e-commerce platforms on the World Wide Web with many retail items from major brands in the world
(Makinson, 2022).
Amazon is the world leader in online retail. Moreover, Amazon is rising strongly as a cloud computing service provider.Amazon's starting point
is a book-selling site. Later, Amazon expanded with a range of consumer goods and digital media as well as Amazon's own electronic devices,
such as Kindle e-book reader, Kindle Fire, etc.
It is the new customers who bring you profits, not your competitors. Understanding this, Amazon is constantly upgrading its shopping website
platform. As a result, the shopping process of consumers becomes easier and more convenient. From a small start-up, using manual methods,
Amazon has made incredible strides. In 2015, Amazon surpassed even the old name Walmart to become the largest retailer in the world
(Mehta, 2023).
c) Social entrepreneur (Blake Mycoskie)

Blake Mycoskie is a successful and passionate entrepreneur who has made an impact in the world. Like other famous entrepreneurs, he dropped
out of college. After that, he started many companies, a total of 4 before he reached gold. His company Toms has been a huge success, and
what's special about Toms is that they have a buy one get one free program. For every pair of shoes someone buys they give a pair to the less
fortunate in third world countries. A hero must have selflessness and most importantly, courage. Mycoskie's most prominent traits, his
selflessness and courage, demonstrated through his many achievements in life prove that he is a hero (Zipkin, 2014).
TOMS was founded as a business in 2006 by Blake Mycoskie, an entrepreneur from Arlington, Texas. Blake believes in doing things differently
and challenging the status quo, but most importantly, he wants to make things better.
The term "tomorrow project shoes" is where the name TOMS comes from, and the original styles were based on traditional Argent inian
Alpargata designs, commonly known as espadrilles. Blake initially only created 500 pairs, but within six months, this number had risen to
10,000 pairs. This is a philosophy Blake has upheld throughout Tom's adult life. From his earliest days, he assisted in providing shoes, vision,
water, and safer childbirth services to people who needed them the most. Blake has used a portion of the proceeds from this sale to support other
community projects throughout the world.
A social enterprise is a sustainable business created for a social purpose that supports the community, not the individual. While TOMS is one of
the few companies working this way, the success of the work they have done has now seen other like-minded entrepreneurs follow their lead. .
TOMS works hard investing both time and money to inspire and support new social projects around the world (Naeini, 2015).
2.Investigating what it takes for those entrepreneurs, serial entrepreneurs, technology entrepreneurs and social
entrepreneurs, to start and grow their entrepreneurial ventures, using a variety of examples to demonstrate your findings.
a) Serial entrepreneur (Sir Richard Branson)
Branson, a school dropout, started his first lucrative business with the magazine Student when he was just a teenager. In order to raise money
when the magazine started to lose money in the late 1960s, Branson founded Virgin Mail Order Records (so named because he thought he
lacked business knowledge), and in 1971 he built the first British discount record shop. He participated in the creation of Virgin Records in
1973, which swiftly rose to become the main punk and new wave label on a global scale. He took a majority stake in the airline he renamed
Virgin Atlantic Airways in 1984. With just one aircraft at first, the company flourished amid ferocious opposition from legacy carriers. In 1992,
Branson sold Virgin Records to obtain more money for Virgin Atlantic (Levine,2019).
b) Technology entrepreneur(Jeff Bezos)
Once Bezos had realised the expansive possibilities of the web, he created a list of 20 potential products he believed could sell well online. He
realised that even the largest bookstores could stock just a few hundred thousand books at one time — only a fraction of the almost infinite
number of titles truly available. Books were Bezos’ winner.
In 1994, Bezos took his idea to Seattle, home to a huge pool of high-tech talent and within close proximity to Ingram Book Group’s Oregon
warehouse. With $1 million raised from friends and family, Bezos rented a house in the city and established his new online book business from
his garage.
For almost a year, Bezos and a team of five employees worked from the Seattle garage, learning how to source books and creating a computer
system that would make Amazon.com easy to navigate. It called itself “Earth’s Biggest Bookstore” with over 1 million titles for customers to
choose from. By September 1996, Amazon.com had over 100 employees and had made over $15.7 million in sales (Taulli, 2021).

Blake Mycoskie never imagined the unselfish footwear company TOMS would become so popular when he launched it in 2006.
The inspiration arose from his travels throughout Argentina, where he saw that many kids go without shoes, putting them at risk for illnesses like
soil-borne podoconiosis and preventing them from attending school or receiving medical attention. (Toms sold ten million units.) Mycoskie
wants to make a difference and help others; he is not merely in business to earn a profit and a lot of money.He is aware of the significant issue in
Argentina, so instead of doing nothing, he took initiative and started his own company to address the issue (Schawbel, 2014).
3.Examining the entrepreneurial traits and characteristics of the chosen entrepreneurs

a)Serial entrepreneur (Sir Richard Branson)
Traits and characteristic:
High drive and determination
Sir Richard Branson was a man of strong will and determination, according to his characteristics and attributes.
It's a story to inspire anyone with an entrepreneurial spirit who is looking to steer their own entrepreneurial path. Branson certainly didn't grow
up in a posh neighborhood. No, this is the story of how you can overcome business failures through the motivation, boldness, and empowerment
of others that lead to extraordinary success (and wealth).
Robert Drayson, Branson's principal, has warned that he will end up in jail or become rich because of his dyslexia and low academic
achievement. After graduating from high school, he returned to London and founded The Student, a youth culture magazine published by
students, for students, and first published in 1966. Can be seen that Richard Branson had a difficult past, but with his energy and determination,
he developed his career perfectly.(Schawbel, 2017).
Risk-taking and decision-making
To get the best from their workforce, business leaders must collaborate, but they also need to know when to take decisive action. No one
appreciates a leader who is unable to step up and innovate personally, he claimed. The secret, according to Sir Richard Branson, is to strike a
balance between giving staff autonomy and providing a good example for others to follow. "There will be times when strong and
decisive leadership will be needed to ensure that the right steps are taken," he said
Sir Richard Branson attributes his expertise in competitive athletics for the discipline, teamwork, and leadership abilities it can offer when a
choice doesn't work out as expected. Treating each issue separately is a crucial lesson I've learnt that applies far beyond the courtroom,
according to Branson. Tennis and business both move so quickly that if you dwell on the past for even a brief period of time, the opportunity and
the moment will have passed. (Schawbel, 2017)
Openess
However, what makes this billionaire different is not only his business acumen but also the fact that he always puts himself in "happy mode".
When he is not involved in outdoor sports activities, he often spends time with his family and friends that he truly cherish. According to
Branson, creating such a life is quite simple: Love everyone, be grateful for all you have, be kind, and never say "No" but keep going until you
succeed (Schawbel,2017).
b) Technology entrepreneur (Jeff Bezos)

High Creativity, innovation,and opportunism
It's obvious from Bezos' path that he enjoys trying new things. He continually wants to experiment and try out new things. He is unwilling to
follow established paths since he is dissatisfied with what he now possesses. Instead, he is a proponent of his own course. Yes, failures can occur
during testing. But Bezos is prepared to seize the chance. He thinks that in order to be a huge winner, you need to be concerned about a lot of
failed experiments (Sagar, 2023).
Management and leadership

This is one of the most important characteristics that make up the person Bezos is. Amazon wouldn't have been as successful
without his incredible leadership style. Bezos believes in planning for the long term. He doesn't think about the impact of his decisions in the
next year but five years or sometimes even longer. In addition, he strategizes according to his competitors and his market. His focus is always on
the customer. (Sagar, 2023).
A set goal
Jeff drew up a rough sketch before revealing his internet business venture. He recommends anyone and everyone thoroughly plan their business
mission before investing their money. He built a rough draft for Amazon while in the car with his wife. Eventually, his draft became one of the
most successful internet businesses today (Sagar, 2023).
Risk-taking and decision-making
It goes without saying that a man with a family and a secure career cannot abandon everything to start his own business if he lacks the ability to
take calculated risks. Jeff Bezos was adamant on creating his own company. He has no money, and his parents are his only investors. Although
he was aware that there was a 70% chance of failure, his tenacity prevented him from abandoning the risk. He is currently one of the richest men
alive, and his significant risk-taking philosophy hasn't changed. A striking example of Bezos' audacious attitude is his decision to introduce the
Kindle over the iPod (Sagar, 2023).
Planning and preparation
Jeff Bezos is known to be a meticulous planner and sets long-term goals with the creative aim of creating a better experience for his
organization's customers (Sagar,2023).
High energy and determination
Like other famous businessmen, he dropped out of college. But from such an uneducated person, his energy and determination have made him
the most beloved social entrepreneur. He founded many companies, a total of 4 before he reached gold. His company Toms has been a great
success, and what is special about Toms is that they have a buy one get one free program. For every pair of shoes someone buys, they give a pair
to the less fortunate in third world countries (Vossbeck, 2016).
A set goal
When Blake Mycoskie saw poor children in Argentina walking barefoot on streets littered with trash and broken glass in 2002, he had the idea
and set his sights on starting a company to give them a chance. 4 years later, Mycoskie's company - named TOMS Shoes and headquartered in
Santa Monica, USA - donated more than 400,000 pairs of shoes to poor children. Along with that charity work, he laid the foundation for a new
business form in Arlington, Texas, USA. It can be seen that he has succeeded in his goal set out (Vossbeck, 2016).
Creative and innovation
TOMS – short for “Tomorrow's Shoes” – has a very creative business idea. For every pair of shoes sold, the company donates a pair to poor
children. Mycoskie configured a "one-for-one" business model during a trip to Argentina to volunteer. Here you can see how his creativity has
changed the lives of street children. Mycoskie's creative ideas have received the support of many famous characters such as Brad Pitt, female
actor. star Liv Tyler, beautiful Scarlet Johansson, rock superstar Bono, pop princess Britney Spears.(Vossbeck, 2016)
Mycoskie is constantly developing and innovating his charity work, he is always moving forward, his innovation is reflected in ,“TOMS not
only provides shoes for millions of children in need but It also helps bring vision to 150,000 people worldwide. In 2011, they started making a
wide range of sunglasses, selling them with the same 'buy one get one free' mission, but instead offering vision-saving medical or surgical
treatments to people who need. Blake Mycoskie doesn't stop at just donating shoes. He kept moving forward. He saw another problem in the
world that he decided he could help with and once again decided to act selflessly to make a difference (Vossbeck, 2016).
4.Evaluating the similarities and differences between those entrepreneurial ventures and identifying common
traits and characteristics of entrepreneurs in those ventures.
Serial (Sir Richard Branson) Technology (Jeff Bezos) Social (Blake Mycoskie)
Similarities -High drive and determination

-Risk-taking and decision making
-Openess
Differences -High creativity,innovation,and -A set-goal
opportunism -Creativity and innovation
-Planning and preparation
-Management and leadership
(Source:The author,2023)
In general, the facial expressions and personalities of these three people have similarities and differences. In terms of similarities, they are both
highly motivated and determined people who take risks and make quick decisions and in the end they always have an open mind in work and
life.
Richard Branson is a man of high energy and determination. Because Branson is dyslexic and has poor academic performance." Sir Richard
Branson suggests that the key is striking a balance between empowering people. members and set an example to follow.” There will be times
when strong and decisive leadership is needed to ensure the right steps are taken, he said (Schawbel, 2017).
And Jeff Bezos was determined to start his own business. He has no money, and the only investors he has are his parents. He
knew there was a 70% chance of failure, but his perseverance didn't let him back down from the risk (Sagar, 2023).
Finally Blake Mycoskie, like other famous entrepreneurs, he dropped out of college. After that, he started many companies, a total of 4
companies before he reached gold. His determination was proven after the idea of giving away free shoes to the poor with every pair of shoes
sold was rejected again and again. His sociability and sensitivity were evident when he came up with the idea after seeing the people and their
standard of living in Argentina (Vossbeck, 2016).
Regarding the difference, there is Jeff Bezos and Blake Mycoskie, about Jeff Bezos he values creativity and innovation more than Mycoskie and
always plans and prepares everything as soon as possible. He is known as a person. has the best leadership and management skills few people
have. If you look at Bezos' journey, it's clear that he likes to experiment. He has a desire to constantly experiment and try new things. He's not
content with what he has and isn't willing to walk down standard paths, and Amazon wouldn't have been as successful without his incredible
leadership style. Bezos believes in planning for the long term, he is known for being a meticulous planner and sets long-term goals with the
creative aim of creating a better experience for his organization's customers (Sagar, 2023).
As for Mycoskie, he is known to be a goal-setter, always creative and innovative in his work, thus becoming a world-class social entrepreneur.
When Blake Mycoskie saw poor children in Argentina walking barefoot on streets littered with trash and broken glass in 2002, he got the idea
and set out to start a company to give them a chance. Four years later, his creativity founded a company - called TOMS Shoes and headquartered
in Santa Monica, USA - which donated more than 400,000 pairs of shoes to needy children. (Vossbeck, 2016)
So instead of just sitting there, he's always improving and creating a business of his own to help alleviate the problem.
5. Examining the concept of entrepreneurial mindset with examples from the chosen entrepreneurs.

Mindset :
Growth mindset
Richard Branson is almost always at the top of every battle to succeed. This billionaire started his first business as a teenager. By the age of 20,
he had built a mail-order record company, and by the age of 22, he was running a chain of record stores.
Since then, he has founded a range of companies and corporations, including Virgin Records, Virgin Airlines, Virgin Express, Virgin Mobile,
Virgin Hotels, Virgin Cruise and Virgin Galactic. (Sicinski, 2023)
Accept and learn from failure
If Richard Branson believes it will enable him to effectively and efficiently accomplish his goals and objectives, he is always willing to alter his
perspective, point of view, and approach to any scenario. a much more.
Because Richard Branson wasn't frightened of failure, the Virgin brand has been successful in part. He uses these experiences as lessons for
future endeavors because he is aware that failure and adaptation are inevitable parts of the process (Sicinski, 2023)
Creativity
In recent years, Richard Branson's focus has shifted to more innovative forms of business as he has now established himself as a self-made
billionaire.Some of his most ambitious projects include a high-speed train line in the UK and a $25 million plan to halt global warming and
space tourism (Sicinski, 2023).
Self reward
Walking, biking, and windsurfing are some of Branson's ways to regain his energy by connecting with nature, but you can also do something as
simple as walking your dog, or even spending time looking Go to the night sky and enjoy life (Sicinski, 2023).
Mindset:
Growth mindset
He started working as a programmer and analyst in Norway in June 1984. He successfully enhanced the IBM program in California after a year
on the job. He formerly served as president of Princeton University's SEDS Student Union, which represents students interested in space
research and development. He joined a number of Wall Street companies in 1986, shortly after graduating, including Fitel Bankers Trust and
investment firm D.E. Shaw & Co.
He was appointed the company's youngest vice president in 1990. Despite having a very successful job, he made the decision to leave after 4
years. He started his own career at Amazon.com, which he created in 1994 and was once an online bookshop (Ashok, 2020).
Take action
In 2000, Jeff Bezos borrowed $2 billion from banks to grow the company because the company's financial balance was very limited at that time.
In 2002, he and the Amazon board launched Amazon Web Services, which aggregated data from weather channels and web traffic (Ashok,
2020).
Accept and learn from failure
Due to Amazon's excessive spending in the end of 2002, the company experienced a number of financial issues, stagnant sales, and the threat of
bankruptcy. More than 14% of the company's personnel was laid off as numerous distribution locations were closed. Jeff Bezos' business grit
and astute leadership, however, allowed Amazon to quickly recover financially in 2003 and generate a $ 400 million profit increase (Ashok,
2020).
Self-goal setting
Jeff Bezos has always focused on goals, not competition.While most companies focus on competition, Amazon chooses to focus on its goal,
which is the customer. Customer satisfaction is the driving force behind decision making at Amazon (Ashok, 2020).
Mindset:
Growth mindset
"TOMS not only provides shoes to millions of children in need, but they also help restore sight to 150,000 people around the world," says
Mycoskie, who is continually expanding his charitable activities. gender. In 2011, they began producing a variety of sunglasses and selling them
with the same "buy one, get one free" purpose while also helping those in need of vision-saving medical or surgical care. Toms reached the ten
million unit milestone. Blake Mycoskie goes above and beyond simply giving shoes. He continued on his way. He discovered a new issue in the
world that he thought he could solve, and once more he resolved to act selflessly to affect change (Vossbeck, 2016).
Self-goal setting
Take action
"TOMS not only provides shoes to millions of children in need, but they also help restore sight to 150,000 people around the world," says
Mycoskie, who is continually expanding his charitable activities. gender. In 2011, they began producing a variety of sunglasses and selling them
with the same "buy one, get one free" purpose while also helping those in need of vision-saving medical or surgical care (Vossbeck, 2016).
Self-leadership
Blake Mycoskie is a shining example of how purpose and authenticity are essential elements of effective leadership for company leaders who
want to help the next generation of socially conscious individuals in the globe. The foundation for transforming a business into a movement can
be laid by authentic leadership with a purpose. It can develop a distinctive company culture with highly motivated workers (Vossbeck, 2016).
6.Analyzing entrepreneurial skills and characteristics of the chosen entrepreneurs

Skill:
Questioning
Richard Branson is constantly asking solution-focused questions to clarify his thinking and help him overcome the challenges he
faces every day (Haque, 2023).
Dicovery
Whether it's venturing into a new and unexpected industry or ballooning a record distance, it seems like Richard Branson will do anything at
least once (Haque, 2023).

Skill:
Experimenting
He encourages Amazon employees to constantly experiment with new ideas, even when they fail. This approach stems from the principle that
every failure is an opportunity to learn and improve (Ashok, 2020).
Creativity
Jeff Bezos is known for his out-of-the-box thinking. According to him, crazy decisions will be a key factor to success (Ashok, 2020).
Characteristics:
Management and leadership
Through Jeff Bezos' transformation,Idiosyncratic Leadership, he was able to create a customer-driven environment at Amazon by dividing his
workforce into small teams, making them focus focus on different tasks and issues, and improve communication throughout the organization
(Ashok, 2020).

Skill:
Creativity
While in Argentina in 2006, Blake met his future wife. The charity she joined inspired him to create Shoes for Better Tomorrows
(TOMS) (Vossbeck, 2016).
Conscientiousness
TOMS expanded from the start as a for-profit company, giving a pair of shoes to a needy child for every pair of shoes sold. TOMS now takes
charge of vision-preserving surgeries from their line of telescopes, and the purchase of the TOMS Bag supports Giving Partners, providing the
vital materials and training needed to help ensure a safe delivery of any kind tell any base (Vossbeck, 2016).
7.Critically analyzing the role of entrepreneurial mindset for the success of entrepreneurial ventures and ways in which
entrepreneurial mindset could be enhanced and nurtured.
Creative:
When we sell energy bar products, we need to be creative because when we create our products, customers will be more interested and attentive.
So how should I be creative. First, I I think we have to create a taste to bring a new feeling to the user, secondly, we will be creative in product
packaging to become more eye-catching for everyone. Third, our company will be creative in the way sell by sometimes when we go live, we
will organize some small online games to attract customers, whoever wins will receive a discount voucher for the next purchase.
Discover
When we start up selling energy bar products, we have to explore different competing stores to see what advantages and disadvantages their
products have in order to improve our products better. Sometimes I think we have to explore and find new formulas to make the product more
diverse.
Bibliography
Kachroo, L., 2019. The Incredible Reason Why Richard Branson Started Virgin Atlantic. [Online]
Available at: https://www.travelandleisure.com/travel-tips/celebrity-travel/how-richard-branson-started-virgin-atlantic
[Accessed 14 June 2023].
Makinson, R., 2022. Jeff Bezos: The Inspirational Success Story Of Amazon’s Founder. [Online]
Available at: https://www.ceotodaymagazine.com/2022/07/jeff-bezos-the-inspirational-success-story-of-amazons-founder/
Mehta, D., 2023. A blueprint for private and public sector partnership to stop fake reviews. [Online]
Available at: https://www.aboutamazon.com/news/policy-news-views/how-amazon-is-working-to-stop-fake-reviews
Taulli, T., 2021. Jeff Bezos: Lessons for Entrepreneurs. [Online]

Available at: https://www-forbes-com.translate.goog/sites/tomtaulli/2021/02/03/jeff-bezos-the-lessons-for-
entrepreneurs/?_x_tr_sl=en&_x_tr_tl=vi&_x_tr_hl=vi&_x_tr_pto=sc&sh=35b641077b70&_x_tr_hist=true
Zipkin, N., 2014. TOMS Founder: 'Focus on Your Passion. Nothing Else Matters.'. [Online]
Available at: https://www.entrepreneur.com/leadership/toms-founder-focus-on-your-passion-nothing-else-matters/233899
Naeini, A., 2015. Case Study: How TOMS Shoes made a cause the centre of its activities. [Online]
Available at: https://www.businesstoday.in/magazine/lbs-case-study/story/toms-shoes-shoes-for-free-cause-marketing-strategy-case-study-49364-2015-
05-22
Schawbel, D., 2014. Blake Mycoskie: Why Businesses Should Stand For More Than Just Money. [Online]
Available at: https://www.forbes.com/sites/danschawbel/2014/02/03/blake-mycoskie-why-businesses-should-stand-for-more-than-just-
money/?sh=106d60c974ed
Schawbel, D., 2017. Richard Branson: His Views On Entrepreneurship, Well-Being And Work Friendships. [Online]
Available at: https://www-forbes-com.translate.goog/sites/danschawbel/2017/10/23/richard-branson-his-views-on-entrepreneurship-well-being-and-
work-friendships/?_x_tr_sl=en&_x_tr_tl=vi&_x_tr_hl=vi&_x_tr_pto=sc&sh=5deb8246b8d9&_x_tr_hist=true
Sagar, A., 2023. 5 Lessons for every entrepreneur from Jeff Bezos. [Online]
Available at: https://www.meydanfz.ae/5-lessons-for-every-entrepreneur-from-jeff-bezos/
Vossbeck, M., 2016. Leading with authenticity and purpose - using the example of Blake Mycoskie, founder of TOMS. [Online]
Available at: https://www.linkedin.com/pulse/leading-authenticity-purpose-using-example-blake-founder-vossbeck
Sagar, A., 2023. From a Night in Jail to A Galactic Empire: How Richard Branson Grew His Career as a Serial Entrepreneur. [Online]
Available at: https://www.meydanfz.ae/how-richard-branson-grew-his-career-as-a-serial-entrepreneur/
Panda, I., 2020. Virgin Group’s Strategic Development and Success Case Study. [Online]
Available at: https://ivypanda.com/essays/virgin-groups-strategic-development-and-success/
Sicinski, A., 2023. Unlocking The Entrepreneurial Mind Of Richard Branson. [Online]
Available at: https://blog.iqmatrix.com/richard-branson#:~:text=Challenging%20Self,grow%20his%20global%20Virgin%20empire.
Ashok, G., 2020. 5 Lessons from the Jeff Bezos Mindset. [Online]
Available at: https://geoffreyashok.medium.com/5-lessons-from-the-jeff-bezos-mindset-
96e5dc62ba5e#:~:text=Focus%20on%20Goals,decision%2Dmaking%20processes%20at%20Amazon.
Haque, F., 2023. Leadership Qualities, Styles, and Skills of Richard Branson. [Online]
Available at: https://www.thestrategywatch.com/leadership-qualities-skills-richard-branson/
Virgin, 2023. Official site. [Online]

Available at: https://www.virgin.com

GBS210099-Nguyen Manh Quan - 1004B - As01

Uploaded by

Copyright:

Available Formats

GBS210099-Nguyen Manh Quan - 1004B - As01

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

GBS210099-Nguyen Manh Quan - 1004B - As01

Uploaded by

Copyright:

Available Formats

ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 9: Entrepreneurial Ventures (5047)

Submission date Date Received 1st submission

Re-submission Date Date Received 2nd submission

Student names & codes Final scores Signatures

1. Nguyen Manh Quan – GBS210099

2. Nguyen Truong Ngoc Loc - GBS210478

4. Nguyen Phuong Uyen Nhi – GBS210428

Class Assessor name

Description of activity undertaken

I created a business canva model for the company

as well as operational solutions and strategies

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Build mind sets for the company and appropriate strategies

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Build mind sets for the company and appropriate strategies

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Build mind sets for the company and appropriate strategies

Assessment & grading criteria

How the activity meets the requirements of the criteria

Description of activity undertaken

Assessment & grading criteria

How the activity meets the requirements of the criteria

Grade: Assessor Signature: Date:

Signature & Date:

I . BUSINESS MODEL ( CANVA ) ....................................................................................................................................................................................................................... 10

1.1. Key Partner:

1.5. Key Resources:

b) Technology entrepreneur(Jeff Bezos)

c) Social entrepreneur (Blake Mycoskie)

b) Technology entrepreneur(Jeff Bezos)

c) Social entrepreneur (Blake Mycoskie)

3.Examining the entrepreneurial traits and characteristics of the chosen entrepreneurs

High drive and determination

Risk-taking and decision-making

b) Technology entrepreneur (Jeff Bezos)

High Creativity, innovation,and opportunism

Management and leadership

Risk-taking and decision-making

Planning and preparation

High energy and determination

Creative and innovation

Similarities -High drive and determination

a)Serial entrepreneur (Sir Richard Branson)

Accept and learn from failure

Accept and learn from failure

6.Analyzing entrepreneurial skills and characteristics of the chosen entrepreneurs

b) Technology entrepreneur (Jeff Bezos)

Management and leadership

c) Social entrepreneur (Blake Mycoskie)

Taulli, T., 2021. Jeff Bezos: Lessons for Entrepreneurs. [Online]

Virgin, 2023. Official site. [Online]