Entrepreneurship and Small Business
Traits and skills of Elizabeth Gooch and Tom Mercer
Elizabeth and Tom are entrepreneurs and business managers in the different organization. Both of them are brilliant business ideas that they have implemented to achieve specific objectives and goals in the management of the organization. Their characteristics are outlined as follows. Both Elizabeth and Tom have effective communication skills (Laura T. Raynolds, 2007). The communication skills have assisted them in the management and running of the activities in the organization that they work. Elizabeth Gooch communication skills enable her to develop the client’s base and build productive relationships in the family. On the other hand, the communication skills allow the tom to sell breakfast bottles to the customers.
Additionally, both Tom and Elizabeth have the team building characteristics (Laura T. Raynolds, 2007). The quality enables them to deal with the workers and the clients that relate to each organization that each belongs. Tom and Elizabeth encourage collaboration through the establishment of the braches for their companies that work as a collaboration to offer services to the clients and workers. On the other hand, Tom and Elizabeth have the financial knowledge. Financial knowledge is critical in the management of the organization. Both the entrepreneurs have the idea of keeping financial records and recording the progress of each company. Lastly, the characteristic of accepting responsibility is shared between Tom and Elizabeth. Elizabeth joins hands in fighting for joining the international markets. On the contrary to Tom did not pass the blame to the workers in 2009 during the period of recession.
Aspects of Entrepreneurial Personality of Elizabeth Gooch and Tom Mercer
Tom and Elizabeth bare particular entrepreneur personality. They are passionate, and the passion pushed each of them to start a business. Elizabeth began EG Solution Company. The resilience personality is noticed in both entrepreneurs. Despite the recession of 2009 that the industry of tom faces, he never lost hope and to Elizabeth did not stop the company even if he lost 200,000 dollars in the international markets (Down, 2010). Additionally, flexibility personality is also portrayed by the two business minds. Elizabeth developed the idea of exploring the global markets, and Tom had the idea of opening up other branches in different places.
Arguments relating to the entrepreneurial characteristics
This argument indicates that each business person who is a real entrepreneur should have focus in the business and have positive hopes for the improvement of the industry as well as working to ensure that the set goals and objectives are achieved (Down, 2010).
In this situation, the entrepreneur sets a goal for the organization, however, loses hopes before achieving the goals of the organization.
The argument states that the business ideas are independent of each person and that creation of an enterprise is the work of the innovative concept (Down, 2010).
Role played by entrepreneurship in job creation in Saudi Arabia
One would agree with that the private sector of the Saudi has contributed to the production of the employment. The rate of work since 2013 has been stagnant at 5.5% as compared to that of 2006 which was 6.3 % (Jeffreys & OxfordBusinessGroup., 2011). The fixed rate since that time indicates that the private sector is absorbing the unemployed hence the rate of employment is reduced.
Down, S. (2010). Enterprise, entrepreneurship and small business. Os Angeles, [Calif.]; London: SAGE.
Jeffreys, A., & OxfordBusinessGroup. (2011). The report. Saudi Arabia. 2010. London: Oxford Business Group.
Laura T. Raynolds, D. M. (2007). Fair Trade: The Challenges of Transforming Globalization. Routledge.