ASSIGNMENT 2 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

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Unit 9: Entrepreneurship and Small Business Management
title

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Submission date 24/12/2020
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Student name Nguyễn Thị Huệ Student ID GBH18157

Class GBH0807 Assessor name Nguyễn Thị Ngân

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Table of Content
I. Introduction…………………………………………………………………………………………………………………………6
II. Specific examples of entrepreneurs……………………………………………………………………………………..6
1. Global entrepreneur…………………………………………………………………………………………………………..6
2. Local entrepreneur…………………………………………………………………………………………………………….7
3. Social entrepreneur……………………………………………………………………………………………………………7
III. Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset……………………………………………………………………………………………………………………………………8
IV. How background and experience can hinder or foster entrepreneurship………………………….12
V. Conclusion…………………………………………………………………………………………………………………………15
References …………………………………………………………………………………………………………………………….16

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 I. Introduction
As a speaker at the Young Entrepreneur Education Camp in Nam Dinh Province, I will present
about "Entrepreneurship" and the different business environments that promote or hinder the
business environment.
To understand the entrepreneurial spirit and impact of the business environment, this report
will present some theories about common concepts and characteristics. What is Mindset?
Mindset, as Merriam-Webster defines, is "mental attitudes or tendencies". According to Thum,
Mindset is the synthesis of knowledge, including beliefs and thoughts about the world and self in
the world. According to her, the mindset determines how you receive and react to information.
(Bosman and Fernhaber, 2018) . What is motivation understood? According to Mullins (2017),
motivation is an internal factor in the personal stimulus to achieve a goal in order to fulfill certain
needs. Meanwhile, Vroom defines, motivation is a state that occurs when employees expect them
to receive expected results and rewards if they work hard (Thái, 2020). In short, motivation is all
about the reasons people act.
It can be said that each individual's personality will greatly affect to create motivation and
stimulate thinking to make creative and bold decisions.

II. Specific examples of entrepreneurs

1. Global entrepreneur
Indra Nooyi is an Indian-American businessman, president of PepsiCo Group. She was born on
October 28, 1955, in Tamil Nadu, India. She holds a bachelor's degree in Physics, Chemistry, and
mathematics from Madar Christian College. Then, in 1978, she was admitted to the Yale School
of Management and received a master's degree in public management and private management
after two years. (Huệ, 2020)
In 1994, Ms. Indra Nooyi joined PepsiCo Group and became CFO of the Group in 2001. In 2006,
she was promoted to CEO of the corporation (Huệ, 2020). In 2007 (just one year after becoming
Pepsi's CEO), she decided to minimize the amount of sugar and salt in its beverage and fast food
products. Pepsi is starting to exceed expectations. Pepsi's revenue grew from $ 35 billion in 2006
to $ 63.5 billion in 2017 (Bắc, 2019). Half of that is from healthy beverages and fast food directly

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 operating the global strategy and leading PepsiCo restructuring, which must mention the birth
of Tricon, now the brand Yum! Bands. She was also the leader who made significant
contributions to Tropicana's victory in 1988 and the merger of Quaker Oast Company into
PepsiCo. (Huệ, 2020)
Because of the remarkable successes in her career, she was honored as one of the most
powerful women in the world by Forbes from 2008-2017. From 2008 to 2011, Indra Nooyi was
nominated for list of best CEOs in the survey of All - American executive team (Huệ, 2020). Ms.
Indra Nooyi really is a typical example of a modern woman as a talented leader, effectively
running a large corporation like PepsiCo.
2. Local entrepreneur
Tran Tuan Duong, a successful businessman from Nam Dinh. He graduated with a BA in
Economics - National Economics University (1986) and Bachelor of Journalism. Currently, he
holds the position of Vice Chairman of the Board of Directors cum General Director of Hoa Phat
Group. (Bizlive, 2020)
Mr. Tran Tuan Duong is one of the founding members of Hoa Phat Group since 1992. Before
holding the position of Vice Chairman of the Board of Directors cum General Director of Hoa
Phat Group Joint Stock Company, Mr. Tran Tuan Duong held many leadership positions in many
member companies of the Group such as Hoa Phat Equipment and Accessories Company
Limited, Hoa Phat Furniture Joint Stock Company, ... For 27 years, under his management,
construction steel Hoa Phat has become the No. 1 market share brand in Vietnam and has
gradually been exported to many countries around the world. Hoa Phat Group is continuously
honored in prestigious rankings such as Top 50 most effective listed companies, Top 50 most
effective businesses in Vietnam, ... (HoaPhat, 2020)
3. Social entrepreneur
Tan Thi Shu - founder of Sa Pa O’Chau Tourism Limited Company, is an example of a social
entrepreneur. She was born into a poor family in Lao Chai village, Sapa town. Because of his
family situation, Shu only attended 3rd grade and then quit school to support his family. Every
day, Shu walked tens of kilometers from his house to town to sell goods to foreign tourists even
though Shu was not fluent in Mandarin, and he did not know English. Shu taught himself English

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 when selling goods to foreigners and tutored the instructors with simple sentences to chat with
Western customers. Whenever Shu has free time, he will study to improve his foreign language.
Because of these circumstances, Shu decided to do something for his fate and at the same time
help his homeland. (Hà, 2019)
In 2007, with the help of his friend, Shu came up with the idea for the Sapa O 'Chau project.
Two years later, Sapa O’Chau Company specializes in community tourism business was
established. Until now, Shu's classrooms have helped many students to study and get jobs. Sapa
O’Chau's children now have an experienced tour guide. Leaving Sapa O’Asian, someone went to
college, middle school, someone went to work for another travel company in Sa Pa. Many
children who used to be street vendors, sticking to customers have become employees of Sapa
O 'Chau. (Hà, 2019)
Because of this contribution, Shu was honored with other social enterprises at En Xanh Gala
2017. At the same time, Tan Thi Shu became the first Mong man to be honored by Forbes
Vietnam as one of 30 faces under 30 years old has many outstanding achievements in his career.
In 2019, she was awarded the Asia Leadership Award from the Women's World Leadership
Awards (Linh, 2019).

III. Assess how aspects of the entrepreneurial personality reflect

entrepreneurial motivation and mindset.
All successful entrepreneurs share positive, common traits that help them achieve that
success. These traits are often accumulated through their personality or experience. Below, this
report outlines some of the traits a successful entrepreneur must have.
The first characteristic of a successful entrepreneur is vision. A vision helps entrepreneurs
understand what they want to achieve, how they accomplish it. Vision is a compass that guides
entrepreneurs to find the right direction for themselves. Often the entrepeuneur vision will be
about strategic planning, and these entrepreneurs can also transform their visions in such a way
that their employees and this Vision also affect their business businessmen.
Speaking specifically about Indra Nooyi, she herself once said that "Where there is no vision,
people will perish". She had a very clear vision for Pepsico through her 2007 decision. After a

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year as CEO of Pepsi (since 2006), Indra made the decision to minimize sugar and salt in
beverage products fast food (Bắc, 2019). This shows Indra's vision as "purposeful activity". By
making this decision, she has helped solve two problems of the obesity epidemic and turn the
company into an environmentally sustainable company. As can be seen, she did a very clear
market research when taking up a new position. Through examining future trends and
difficulties, she has shown a clear vision. In addition, Indra told his employees what they need
to do in the company's short, medium, and long-term plans. This shows that she sees the
importance of staff in the plan. Having come up with a good plan, leaders also need to
understand how to communicate it to subordinates. This helps to keep her plans in place.
Mr. Tran Tuan Duong once said, "The essence is that every day Hoa Phat has an extra $ 1
million in profits, and the intrinsic value of Hoa Phat next year is greater than the year before.”,
he wished "Hoa Phat exists hundred years" (Minh and Ly, 2018) . It can be said that Mr. Duong
has set an ambitious vision, which also affects his dynamics in business and business thinking.
To achieve his vision, Mr. Duong needs thinking and motivation to help Hoa Phat achieve that.
The evidence for that is that since 2001, Hoa Phat has made great changes in position and
stature. Currently, Hoa Phat has become the only company in Vietnam to own a steel
manufacturing complex with advanced and environmentally friendly modern blast furnace
technology. Currently the company's capacity is 2.3 million tons, accounting for 20% market
share (HoaPhat, 2020) . To implement large projects in steel and agriculture, HPG's charter
capital also increased sharply from 1,320 billion VND in 2007 to 15,170 billion VND in July 2017,
which is an increase of 11.5 times after 10 years. year. Revenue grew significantly from 5,734
billion VND in 2007 to nearly 34,000 billion VND in 2016, profit after tax increased 9 times
compared to 10 years ago, the profit growth is very high for a manufacturing corporation
multidisciplinary industry (Hoaphat, 2020) . During the process of sticking with Hoa Phat, Mr.
Duong has made decisions and moves in accordance with this vision.
Speaking of Tan Thi Shu, she wishes to do something to change her life and help the local
people. Founder and operator of Sapa O 'Chau, Shu is determined to develop Sapa tourism,
creating jobs for ethnic young people. It can be seen that Shu's vision is tied to the development
of his homeland in the future. This motivated and thought Shu to achieve it. Shu develops his

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own knowledge and skills to help himself achieve that goal. Up to now, her company has more
than 50 employees, has a branch in Hang Muoi street, Hanoi and each year supports about 100
children to go to school and work (Hà, 2019) . Here, the children are not only taught culture but
also English for free. By associating with foreign volunteers, who are tourists to Sa Pa, Ms. Shu
brings practical knowledge to future travelers and valuable experiences for visitors.
The second common trait that successful entrepreneurs have is confidence. This is an
important feature, because without it, it is difficult for entrepreneurs to achieve success. They
must have confidence in both themselves and in the products and services they provide. They
will be able to continue their journey regardless of difficulty or frustration, take risks, and
ultimately, they believe they will succeed.
Specifically, speaking in Indra Nooyi, in 2007, she decided to minimize the amount of sugar
and salt in the food products. At this point, the economic crisis began, and sales of Pepsi
products plummeted. This caused the company's shareholders to criticize her decision more.
However, Indra is still confident, consistent with her decision, she continues to fulfill her set
goals, to invest in it instead of cutting. As a result, Pepsi's business has stabilized. From $ 35
billion in 2006, this business reached $ 63.5 billion in 2017, and healthy product sales make up
half of that (Bắc, 2019) . Or as when she was the company's chief financial officer, she made the
decision to overhaul the company's information technology system. This project costs $ 1 billion
to budget (Bắc, 2019). Obviously, there is a lot of skepticism about her project. However, she
knew for sure that this project would be the right move for the company. To prove her beliefs,
she studied the issue from all angles, read 10 books on information technology, and consulted
professors. With that knowledge learned, Indra concluded, companies need to replace the
system. As can be seen, Indra Nooya is a very confident person, she believes in her abilities,
abilities, and decisions. To prove her beliefs right, she will dispel doubts with her knowledge and
power.
Said Hoa Phat CEO - Tran Tuan Duong, when completing the first blast furnace investment in
Hai Duong in 2009, Hoa Phat decided to invest in a second blast furnace. At this time, the real
estate market is going. down, the steel market is in trouble. This caused him to be questioned a
lot by the council of shareholders. After presenting the plan, the company's shareholders still

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do not believe in the feasibility of the project. However, Mr. Duong still did not lose faith in his
project decision. He told his shareholders: "You have to believe! Hoa Phat's opinion is that when
making good quality steel with the best price in Vietnam, there is no reason not to sell.
Customers will buy from them first.” (Minh and Ly, 2018). This shows that, firstly, Mr. Duong is
very confident in the products he makes, and secondly, because he believes in the products that
he believes in the success of your project. During the working process at Hoa Phat, it can be said
that Mr. Duong is very confident in the company's products and development. Asked in an
interview that the stock price is not stable, rising or falling steadily, do you worry about that?
His answer is no, because he believes that, as a major shareholder of the company, he is
responsible for managing the company in its best manner and operating the most sustainably
(Minh and Ly, 2018) . The stock price fluctuation is due to the market situation, while the
company always improves its profit and intrinsic value over time. This shows that Mr. Duong is
not only confident in the success of the business, but he is also confident in his abilities and he
always has a responsibility to consolidate his beliefs into truth, with good results.
As a founder of a social enterprise, confidence is an indispensable factor for Tan Thi Shu. At
first, with his very little English, Shu confidently tried to talk to foreign tourists to learn and
improve himself. The desire to open a social enterprise to help children in the same situation
and develop the locality for a girl who is in many difficulties like Shu is very difficult. However,
she still believes in her project and devotes all her heart to it. Having had a failure in
management, seemingly unable to save any more, but Shu chose to hone himself with
management training, and now successfully leads Sapa O'Chau to perform well. At the time of
its establishment, the concept of "a girl only needs to stay home and get married for her
husband" is still deeply embedded in the psychology of the mountainous people. This is a
problem for Shu and Sapa O'Chau. But she still believes in the change in that somewhat old-
fashioned notion. Fortunately, since 2010 until now, after many women go to school, join the
tourism industry and earn extra income, the thoughts of many families and communities have
made a positive change. Shu said, a father who met Shu told him: "You just let my daughter stay
here, follow her sisters to study more, know more" (Hà, 2019). It can be said that Shu met many
difficulties in the process of establishing and operating a business. However, she still believes in

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 herself, in the project, which gives her the motivation and thinking to strengthen her beliefs and
achieve good results.
In short, vision and confidence are two of the most visible characteristics of leaders. These
traits motivate, support, and motivate leaders to achieve success.
The difference between businessman and manager.
Taking risk is the first factor when it comes to the difference between entrepreneur and
manager. The entrepreneur's job is to take risks in business, helping the company reach new
heights. On the contrary, a manager needs to act wisely, avoiding risks in difficult times.
Entrepreneurs can take risks to explore different aspects of the problem. Entrepreneurs often
choose to take risks in order to turn them into opportunities to help them innovate and create
more ideas. On the other hand, if the managers accept the risks, this can lead to imbalances in
the company's operations. Managers often choose to maintain integrity and safety in order to
make the company profitable.
Another difference to mention is expertise. An entrepreneur may not be fully aware of the
business operations of the business, or know all of the smaller divisions. They take responsibility
for the ideas that help the business succeed. In contrast, managers need to specialize in their
work, and expertise should be appropriate for the work environment. Entrepreneurs have a
responsibility to incorporate creative and compelling ideas so they help drive those ideas
through their business and commercial activities. On the other hand, managers tend to be more
computational. and they formulate various plans and strategies to disseminate company ideas
and motivations to employees. This helps inspire employees to work hard and bring more
benefits to the company and organization.
In short, take risks, and expertise are two clear differences skills of entrepreneurs and
managers.

IV. How background and experience can hinder or foster entrepreneurship

Background is a factor affecting the entrepreneurial spirit of entrepreneurs. Personal
background includes factors such as family, friends, religion, education, ... Start-up experience
is something entrepreneurs experience and accumulate in the past. Background and experience
can hinder or motivate a business. Factors like family and friends have a lot to do with

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entrepreneurship. Many families have businesses that have been passed down through
generations. Wealthy families will give entrepreneurs access to the best education, they will
have business finance. Conversely, if you come from a poor family, entrepreneurs will be
prevented from accessing a good education. Likewise, friendships create potential relationships
that can support or hinder your business.
First, let's talk about family and friends. Tan Thi Shu was born into a poor family in Sapa. At
12 years old, she had to work as a street vendor to support her family. Not being able to go to
school is always a pain in Shu's heart. But it is the same situation that motivates this Mongolian
girl to work hard to change her life and others. Shu started to learn English by himself to
communicate with foreign tourists. Working in the town's restaurants to learn English, and
because of that interest, Shu got the idea for the birth of Sapa O 'Chau. Besides, friends have a
great influence on Shu. It was from the very beginning of sharing her thoughts with her
Australian friends that they supported her and gave her the motivation to do it. Or international
friends who help her a lot during the operation of the business, they help her teach English to
children. (Dương, 2018)
For Indra Nooya, her family gives her a lot of motivation. As a child living in India, Nooyi and
her younger sister were often given games by their parents to play games at the family dinner.
Her mother asks her daughters to imagine herself as prime minister, president or some world
leader. At the end of the meal, they will give a speech in the role of the character and the mother
will decide who wins. While still imparting many traditional values to girls, Nooyi's mother
encourages the girls to be the people they want (Trang, 2018). It was that upbringing that
nurtured her personality, openness, inquisitive, and free. For Nooyi, the customs, both the way
of life and the traditional way of thinking of the homeland are somewhat harsh, and her lifestyle
from a young age has tended to resemble the West. Therefore, she chose to study business
school. Her education path is really solid. In 1978, Nooyi entered the master's program and
passed Yale University. She also received her BA in Physics, Chemistry, Mathematics from
Madras Christian College from the University of Madras (Huệ, 2020). Besides, her friendships
also contributed significantly to her success. She has a friendship with three former CEOs of
PepsiCo, who act as her unofficial advisers.

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 For Mr. Tran Tuan Duong, he has a solid educational background, which is itself a springboard
for him to have business knowledge. He graduated with a bachelor's degree in economics from
the National Economics University in 1986 together with Mr. Tran Dinh Long, the current
chairman of Hoa. It was also these friends who with him to establish and develop Hoa Phat. Hoa
Phat staff said that the members of the Board of Directors daily still eat lunch together and
travel together. The unity from top to bottom is exactly like the name of the corporation:
"Harmony and Development". It can be said that Mr. Duong's friends have a great influence on
promoting him as a successful businessman today. (Chiêm, 2017)
It can be said that the factor of family and friends is the foundation that greatly affects the
motivation and thinking formation of entrepreneurs, in particular it is motivating.
Second, personal experience also affects entrepreneurship. If he has a good experience, the
entrepreneur can be in the business for the long term and motivated to do business. On the
contrary, if the business is not good, they may face problems.
For Mr. Tran Tuan Duong, he has a lot of experience in business. Initially, he and Mr. Long
and some other friends established the Equipment Spare Parts Co., Ltd. specializing in selling
second hand goods from Russia. From 1994 to 1995, the company went to buy office furniture
on Giai Phong Street, with 2-3 tables and 50-70 chairs but found it difficult. Mr. Long, Mr. Duong,
seeing the market potential, decided to establish Furniture Company (Chiêm, 2017). When
establishing these two companies, he has accumulated a lot of experience for himself, especially
foreign business, market research, ... Up to now, with his knowledge and experience. Mr. Duong
has become a successful businessman leading Hoa Phat to develop like now.
After earning an MBA at a management academy, she spent two years with Johnson &
Johnson in Mumbai before leaving for the US when she was just over 20 and studying at Yale
School of Management. Pepsi, Ms. Indra Nooyi have worked for Boston Consulting Group,
Motorola and robotics maker Asea Brown Boveri. In 1994, Indra Nooyi officially acted as
PepsiCo's chief strategist and became the Chief Financial Officer of PepsiCo in 2000 before
serving as its Chairman and CEO in 2006 (Huệ, 2020). Yes It can be said that her experience has
been accumulated a lot in the process of working in different positions and different companies.

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 It is those experiences that when taking the position of President of PepsiCo, she has built its
name in fame around the world.
However, with Tan Thi Shu, her little experience has created obstacles and difficulties for her
in the process of developing her career. The young girl's Sapa O'Chau once seemed to be at a
standstill due to the inexperienced leader in business management and no money to maintain
operations ... At that time, Shu was working. According to their feelings, lack of skills, lack of
professional experience, and lack of specific job descriptions, lead to an oversupply situation.
However, later on, realizing the shortcomings of her own experiences, she joined the project
"Leadership enhancement of social enterprises" of the Center for Community Service Initiatives
(CSIP). and KOTO International with funding from the Irish Development Agency and major
technical assistance from the Vietnam Chamber of Commerce and Industry (VCCI)
(Tintucvietnam, 2020). It was through this opportunity to train and develop skills that Shu led
Sapa to develop to this day.
It can be said that experience has had a more or less influence on business motivation as well
as business thinking, in particular, both hindering and promoting.

V. Conclusion
In short, the report pointed out the common traits of entrepreneurs: vision and confidence.
These traits determine the thinking and motivate the entrepreneur to round out creative and
bold decision-making. The report also points out the important role resumes and experiences
play in shaping personalities, nurturing entrepreneurs, and driving them to make creative and
bold decisions.

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