logo

Small Business Entrepreneur and Its Impact on Economy

14 Pages4650 Words241 Views
   

Added on  2019-12-28

Small Business Entrepreneur and Its Impact on Economy

   Added on 2019-12-28

ShareRelated Documents
Entrepreneurship
Small Business Entrepreneur and Its Impact on Economy_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P1 Different type of entrepreneurship ventures and their relationship with typology................4P2 Similarities and differences between entrepreneurial ventures.............................................5M1...............................................................................................................................................6D1................................................................................................................................................7TASK 2............................................................................................................................................7P3 Micro and small businesses impact on the economy.............................................................7P4 Importance of the small business and business start up to grow in social economy.............8M2...............................................................................................................................................9D2................................................................................................................................................9TASK 3............................................................................................................................................9P5 Characteristics, traits and skills of successful entrepreneurs.................................................9P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivationand mind-set..............................................................................................................................10M3.............................................................................................................................................11D3..............................................................................................................................................11TASK 4..........................................................................................................................................12P7 Impact of the background and experience on the entrepreneurship....................................12M4.............................................................................................................................................12D4..............................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
Small Business Entrepreneur and Its Impact on Economy_2
INTRODUCTIONEntrepreneurship has a wide range of meaning. Entrepreneur is a person which having avery high aptitude and that should be change as well as they are having a processingcharacteristics and they found in a small fraction of population. Entrepreneur is a person whostart a business by taking more risk so that they can earn maximum profit. Entrepreneurshiphelps in doing innovation as well as creativity (Gielnik and et.al., 2015). To generate the value tothe consumer they have to combine various input factors so that they can develop the existingproducts and sell to the end users which assist in providing and increasing satisfaction to them.In the below mentioned report, discussion on different type entrepreneurial venture which isrelated with the typology of entrepreneurship (Entrepreneurship MSc, 2017). Along with thissimilarities as well as dissimilarities of entrepreneurial ventures. Moreover, micro as well assmall business having a impact on the social economy which has to be discussed. TASK 1P1 Different type of entrepreneurship ventures and their relationship with typologyEntrepreneurship is a distinctive approach which is used to manage the things rather thana specific level in the life cycle of business entity as well as specific role of the individual personwho is the owner of the company. Entrepreneur can be found in many different type oforganisation which includes the large corporation (Phillips and et.al., 2015). Entrepreneur is aperson who has a willingness as well as capacity to do more wok by taking risk which helps inearning maximum profit. Entrepreneurial venture is a individual person who start the business byutilising appropriate resources and by doing proper planning they can take risk and rewards forimproving the business venture. There are four type of entrepreneurial ventures are:Entrepreneurial venturesDescriptionSmall BusinessEntrepreneurshipSmall business owners are responsible for managing all theaspects of their business entity. He takes risk to improvethe business and earn maximum profit. Scalable Start-upEntrepreneurshipIt includes the person who organise, manage as well asassume the risk of business. It determines the smallbusiness in which owner start the business and thiscorporation having a different objectives (Link, Siegel and
Small Business Entrepreneur and Its Impact on Economy_3
Wright, 2015). Large CompanyEntrepreneurshipIt includes the development or improvement of the newideas along with the opportunities within the large orestablished business which increase the profitability of thebusiness as well as enhance the competitive position in themarket.SocialEntrepreneurshipIt is use of the distinct techniques by the start up companiesand the other entrepreneur which helps in improving,funding as well as they have to implement the solutions tothe social, environmental and cultural issues. These are the type of entrepreneurship which are related with the different type oftypology of entrepreneurship. They are:Innovating entrepreneur: These are the one who introduce and identify new merchandise,launched new techniques along with this these are the person who introduce the new market.These entrepreneur do the improvements at a certain level (Rauch and Hulsink, 2015). Lifestyle entrepreneur: These type of person does not having any knowledge to start thebusiness. It focuses on the rewards which are provided to the people that enjoy. Along with thisthey are having a passion for what they are providing to the different consumers. Research entrepreneur: These type of entrepreneur do lots of research and learn new things. Bydoing proper research they have to use appropriate research which help the business to grow inthe market. Accomplished entrepreneur: These type of entrepreneur includes all the stages ofentrepreneurship and they have to do proper work so that they can set up the good business andattain success in the competitive market (Block and et.al., 2015). P2 Similarities and differences between entrepreneurial venturesSmall business entrepreneur is a person who start the business and continue their businesswith a limited resources. Along with this they have to do proper planning to take the risk of theirbusiness venture. Social entrepreneurial venture are those who make appropriate plans, makeactual budget and then do the implementation of that plan to attain success. There are somesimilarities as well as dissimilarities in the small business entrepreneur and social entrepreneurventures are:
Small Business Entrepreneur and Its Impact on Economy_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurship and Business Management- Report
|19
|6023
|63

Aspects of Entrepreneurship and Small Business Management
|22
|4237
|171

(Solution) Entrepreneurship Assignment
|15
|4526
|219

Entrepreneurship and small-business Management - Assignment Sample
|19
|5858
|448

Entrepreneurship and Small Business Management Assignment :Unicorn Grocery
|16
|4754
|20

Entrepreneurship and Small Business Management - Sample Assignment
|17
|4909
|273