The entrpreneurial characteristics Soraya potrayed are described as below : 1. Opportunity Finding - Soraya was always p

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The entrpreneurial characteristics Soraya potrayed are described
as below : 1. Opportunity Finding - Soraya was always passionate
about Arts and she turned her passion into business. This is a very
key aspect of running a business. You should always do something
that you are passionate about. This will always keep you engaged in
what you are doing and you will give it you 100%. 2. Innovation -
Innovation is very important to keep the customers engaged. Every
customer wants something unique and different. Soraya's plan of
developing a mobile app which gives users a virtual tour of her
galleries, informs them about new artworks and also the option to
purchase the artwork is very innovative. But the most unique thing
is the use of Aritficial Intelligence to keep Soraya updated about
the type of paintings the users like the most so that she could
make more of them. These little innovations really go a long way
for any business. 3. Risk taking - This is one attribute which most
people lack. But Soraya knew that taking risks would pay. Turning
Arts and Paintings into a business venture is no easy task. But
even after all the problems, she managed to put up a display and it
was sold out on the first preview. 4. Resource
Management - As an entrepreneur, Soraya had managed to use all her
limited resources wisely. She has made the university's
stakeholders her primary target market, and planned for a mobile
app for the users. She has also considered all the possible
expenses and all the sources of revenue it would generate. 5.
Perseverance - By not rushing, Soraya has shown patience is also
important. Nothing happens overnight. It takes a lot of planning
and implemention to start a business from scratch. Many things can
go wrong, and it will. But one should never give up. Always fight
through and come up with something new and better. This will help
your business succeed. And 2. My strengths are as follows :
a. Opportunist - I always take the opportunity that I get. The same
opportunity might not come again and its better to have tried and
failed than to not try at all. For instance, I remember when I was
in high school, my friend and decided to develop some mobile apps
and earn some pocket money. With no experience in coding, we got
hold of a website that makes apps with the data and images you
provide. We made a couple of apps and ended making a couple hundred
bucks of it. b. Risk Taker - I am also a risk taker. Every business
owner needs to have a risk appetite. Everything won't go in your
favor and you need to accept and work on that. The above example
shows the same since I did not have any experience in coding and we
were new to this. We did not knew half of the rules and regulations
and many of our apps even got banned due to few issues. But I did
not give up, we made changes and continued to publish apps.
My weakness are are follows : a. Short tempered - Every
entrepreneur needs to keep their cool. The chances of things going
wrong are very high. And you have to accept that. I have a short
temper and I used to go off when something wrong happened while
publishing apps. This is something I need to work upon. b. Laziness
- I am also a very lazy person. I get things done according to my
own time. This is something that won't work in a business, because
time is money. The more time you waste, the more money you're
losing. This is also something that needs work. a)
a budget cash flow statement for the three months of January,
February and March 20X4 b) a budget statement of
profit or loss for the three months ending 31 March 20X4 c)
a budget statement of financial position at 31 March
20X4 and: d) briefly discuss whether or not you
think Caroline’s business is going to be successful, identifying
any areas where cash flow might be a problem