“Critically evaluate a range of entrepreneurial traits, motivations, and characteristics using appropriate academic models and theories, further supported by examples of proven and successful entrepreneurs.”

The essay' critically examines four key entrepreneurial traits: Risk-taking, Innovative Thinking, Resilience, and Adaptability, explaining their significance in entrepreneurial success. Risk-taking is analyzed using Prospect Theory and Effectuation Theory, highlighting Elon Musk's ventures. Innovative Thinking is explored through Schumpeter’s Theory of Creative Destruction, with Steve Jobs exemplifying disruptive innovation. Resilience is discussed using psychological resilience and dynamic capability theory, showcasing Sara Blakely’s perseverance. Finally, adaptability is highlighted by the dynamic capabilities theory, which focuses on Reed Hastings's ability to transform Netflix. The essay demonstrates how these traits often work together, supporting entrepreneurs in navigating uncertainty and achieving long-term success in a competitive, ever-changing market.