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Entrepreneurship and Small Business Management : Wiser Company

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Added on  2020-12-30

Entrepreneurship and Small Business Management : Wiser Company

   Added on 2020-12-30

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Entrepreneurship and Small Business Management : Wiser Company_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P.1 Different types of entrepreneurial ventures and their relation with typology ofentrepreneurship .........................................................................................................................1P.2 Similarities and differences between various entrepreneur ventures ...................................3TASK 2............................................................................................................................................1P3 Impact of both such as small and micro business on economy............................................1P4 Contribution of start ups and small businesses in economic growth.....................................2TASK3.............................................................................................................................................3P5. Characteristic, traits and skills of two successful entrepreneurs which differentiate themfrom other business manager......................................................................................................3P6 Entrepreneurial personality reflects entrepreneurial motivation and mind-set......................4TASK 4............................................................................................................................................5P7 Background and experience can hinder and foster entrepreneurship....................................5CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONEntrepreneur is a person who creates various new and distinct ideas so that they cancreate good products. Thus as a result they can easily earn more revenues and can enhancemarket share in company. This also leads to long term success an growth of the company.Through this they can easily enhance the satisfaction level of all users. Hence firm can maintaingood image in the market and in minds of all people. Assignment describes about the Wisercompany which is recruitment organization (Abu-Saifan, 2012). It was found in U.K. Reportexplains about the range of various ventures which are considered entrepreneurial. It alsoexplains about the evaluation of impact of small business on economy. It further describes aboutthe determining and evaluating the various key aspects of an entrepreneurial mindset. It alsoexplains about the different environments that can foster and hinder entrepreneurship. TASK 1 P.1 Different types of entrepreneurial ventures and their relation with typology ofentrepreneurship There are various entrepreneurial ventures who are set so that they can easily accomplishthe business objectives. Their main objective is to earn huge amount of profits and thus they caneasily enhance the market share. These ventures can think of new and distinct ideas so that theycan easily enhance the market share. Through this they can easily maintain good image.Different types of entrepreneurs are:Public sector organizations: These are the firm whose objective is to serve the society.They are managed by the government. Thus they can easily maintain good image in market.They create all regulations and rules in an appropriate manner so that they can maintain goodimage in market. There is an example that audit committee which is a statutory firm in U.K..Thus they can maintain good image in market and can easily serve the people in society. Private sector organizations: They are the company whose main motive is to earn morerevenues and they are controlled by a single person (Barringer, 2012). Company can create goodquality of products and hence it can maintain unique image in market. For example Proctor andgamble is a company which can create long term plans and policies and it is FMCG product.Through this it can easily enhance the revenues. 1
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Voluntary entrepreneurs: They are the company whose main motive is to serve topeople living in society and thus they can maintain good image in front of all people and thusthey can directly enhance the standard of living. Relationship between entrepreneurship and topologies Serial entrepreneurs: This is the company whose goal is to enhance the profits of thecompany. Thus there can be effective cooperation among all members. It can be linked to privatesector organization (Baum, Freseand Baron, 2014). Female entrepreneurs: These are the business in which all decisions related to creationof all plans and policies are created and decided by women. There is a famous example that isBAWE and it the organization that mainly consists of all members. Ventures of entrepreneurs: There are various ventures which are described below:Small business entrepreneurship: It includes various factors and this is the companywhich runs only for a small scale. Thus they requires small amount of money and thus they caneasily fulfil all needs and wants of all people. Scalable entrepreneurship: This is the company which runs for larger scale and thusthey can create the ideas and then they can easily invite many people. They think new ideas andopinion in an different manner. Social entrepreneurship: These are the entrepreneurship whose main objective is toenhance the society and thus it performs all activities and operations which can directly givevarious benefits of society. They can also take help from the government so that they can receivefunds. Through this they can easily educate many people and can guide the rural people. Relationship of typology with entrepreneurial venturesSurvival ventures: They are the company whose aim is to satisfy wants of all people.They can be easily be connected to the public organization. Lifestyle ventures: They create various products according to requirements of all people(Dacin, Daci and Tracey, 2011). They can be connected to private organization. Managed growth venture: They are the company which can easily manage the businessand can enhance revenues. It can be linked to survival and lifestyle venture. 2
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