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Types of Entrepreneurship and Small Business Management Report 2022

   

Added on  2020-09-08

15 Pages4772 Words48 Views
Entrepreneurship and SmallBusiness Management

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P.1 Various types of entrepreneurial ventures and relationship with typology ofentrepreneurship..........................................................................................................................1P.2 Similarities and differences between entrepreneurial ventures............................................3TASK 2 ...........................................................................................................................................4P.3 Interpretation of data through which micro and small business impact on economy ..........4P.4 Contribution of small business to growth and social economy after Brexit ........................6TASK 3............................................................................................................................................7P.5 Characteristics and skills of 2 successful entrepreneurs.......................................................7P.6 Influence of entrepreneurial personality...............................................................................8TASK 4 ...........................................................................................................................................9P.7 Experience and background can obstruct or promote entrepreneurship...............................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONEntrepreneurship is the process in which a person starts new ideas and innovations in thebusiness. They have to initiate bigger ideas and innovate new products so that firm can gainmore profits. Through this, they can give unique and different experience to customers. It helpsthe organisation to earn more profits and increase the market share. Report discusses about theWiser Company which is a recruiting firm. Organisation recruits people through differentwebsites and other sources (Baum, Frese,and Baron, 2014)(. It is founded in 2014. Assignmentexplains about the various types of entrepreneur ventures and their relationship with typologiesof entrepreneurship and the similarities and differences of entrepreneur ventures. Moreover, theproject discusses about the methods through which micro and small scale industries impact onthe economy. In addition, it explains about the ways in which small and medium term businessstart-ups contribute to growth of social economy after Brexit as well as traits and characteristicsof two successful industrialist, methods through which entrepreneurial personality reflect theirmotivation and mind-set plus processes through which background and experience can hinder orfoster entrepreneurship. TASK 1 P.1 Various types of entrepreneurial ventures and relationship with typology of entrepreneurshipEntrepreneur – They are the people who think of new and creative ideas and start thenew business. Entrepreneurship – It is the process in which entrepreneur think of new ideas andcreates plans of acquiring resources and analyse the data. This helps in creating innovation infirm. Entrepreneurship venture – They are the ventures which are started to earn moreprofits and they are done through analysing of market and consumer needs. Types of entrepreneurs – There are 4 types of entrepreneurial venture which aredescribed below - Small business entrepreneurs – These entrepreneurs are the individuals who create smallscale business in market of U.K. Due to this, rate of poverty has been decreased in economy.They had fulfilled basic needs of people and their family and they can also secure the basic needs1

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