Three Types of Entrepreneurs

Introduction

The following sample essay on Three Types of Entrepreneurs.  I am going to identify and discuss three types of entrepreneurs which are a well-known South African entrepreneurs. Emerging South African entrepreneurs from the so-called ‘Asian Tiger’ countries I am going to focus on their characteristics. Risks and analysis of the macro-environment and market-environment factors impacting on the running of their respective enterprises then give a summary based on my findings by providing possible reasons for the sooner and greater success of the ‘Asian Tiger’ entrepreneur versus his emerging South African counterpart.

Well-known South African entrepreneurs ( The person may currently be residing in another country)

Patrice Tlhopane Motsepe is a South African mining businessman and billionaire. He is the founder and executive chairman of African Rainbow Minerals, which has interests in gold, ferrous metals, base metals, and platinum. He sits on several company boards, including being the non-executive chairman of Harmony Gold, the world’s 12th largest gold mining company, and the deputy chairman of Sanlam.

Characteristics

nspire  Motsepe he really motivated a lot of entrepreneurs in South Africa, And many people in our country recognized him and his great work and also his passion qualities.( Duffy.2012) page 31( Van Aardt |Bezuidenhout) 5th edition

Vision  Entrepreneurs like Patrice Motsepe they begin with a dream of what they really want to fulfil and set clear goals and objectives.They strategies plan and act on what they really want to achieve. (Duffy.2012) page 31( Van Aardt |Bezuidenhout) 5th edition

Courage  Patrice Motsepe have the courage to take on new challenges to follow the instinct and go boldly were no one has gone before.

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Duffy.2012) page 31( Van Aardt |Bezuidenhout) 5th edition)

 Risks

• Financial risk – When Motsepe decide to start a venture of mining services. The entrepreneur Patrice Motsepe has often not know the outcome. Good financial decision need to be made and good cashflow of mining services should be followed to minimize financial risk.
• Career risk – At times a situation of job with stable income to pursue the dream, Motsepe wanted to have his own business. Motsepe he even quit his current workplace to take risk of having this big dream he has achieve.
• Physical and psychological risk – Entrepreneur Patrice Motsepe he did put business first before his own health. The Health is vital to enable the entrepreneur to look after himself and the business day to day and his long term business concerns. Duffy.2012) page 31( Van Aardt |Bezuidenhout) 5th edition)

Internal and External analysis

Patrice Motsepe at the time he couldn’t have fair funds to pay his employee’s,most employees they were not motivated by how things are in such way that the productive. of the business was bit low and shaking and also the salary was very low.

Political  legal factors The inflation and interest rates affect the business due to high impact on the business as well.

An emerging South African entrepreneur

Dion Mhlaba (CA) is the CFO for RH Bophelo Limited, listed in the JSE. He holds a B.Com Accounting Degree and Honours from the University of Johannesburg. He completed his auditing articles with KPMG (Johannesburg) in 2010, where he qualified as a Chartered Accountant (CA) and Registered Auditor (RA).

While with KPMG, Dion worked with Nedbank, IDC and DBSA. His audit role included financial model audits, tax reviews, IFRS compliance, budgeting and accounting, and in other instances the treatments of financial instruments such as bonds, preference shares, debentures, loans and money market, equities and hybrid instruments.

From 2011 to 2013, Dion held advisory roles with Afripalm Resources, a company with mining and financial services interests and Sakhumnotho Holdings with exposure to a variety of projects, including mining, financial services, engineering. In 2013, he worked as a financial support at Thebe Investments where the role entailed streamlining of reports, analysing of financial data, budgeting, performance and board reports.

Characteristics

Vision , passion and motivation Dion Mhlaba saw a need in the community and took it he saw there was a need to help local hospitals that were struggling to cope with a rapid increase in chronic patients.He also have a dream about helping those who need help through his passion work.

Self-belief, hard work and Disciplined Dedication entrepreneurs like Dion Mhlaba He created hundreds of jobs, became wealthy and got not one not two but a lot business off the ground all in a matter of months. A lot of people have good faith on him.

Risks

• Family and social risk – Dion Mhlaba family did not believe in him he had to start a business without the knowledge of his parents he did start the business and it became a success.
• Financial risk – Dion did not have a start-up capital he did not have good cash flow
• Career risk – Dion applied for a job at Nedbank Partners he got offered the job and accepted it & Company to following his dream of becoming an entrepreneur he started working on his business ideas.
• Career risk – Daniel applied for a job at Auditors he got offered the job and accepted it & company to following his dream of becoming an entrepreneurs he started working on his business ideas.

Internal and external analysis

Economics factors they have a huge impact on most business they have a problem concerning these factors.

International factors since Daniel had to move from different countries the law and imports, export etc. did affect his business a bit but when he move to Singapore he started his business that side and there were international problems.

Labour force Daniel did not have any employees at first he had a few friends who supported brainstormed together he had to staff a business that required no capital because he did not have any he got more customers and employees because he was then able to pay.

Conclusion

Entrepreneurs are influenced by their environments. Whether it is economic situation of South Africa, a new competitors in the market or environment in which they were raised,it has an enormous effect on the entrepreneur. Just as some individuals are natural athletes due to their family background, entrepreneurs are very much influenced by their background.