Unit 9 Entrepreneurship and Small Business Management- Doc

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 9: Entrepreneurship and Small Business Management
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INTRODUCTION
Today, people are considering starting their own business. All things considered, individuals can hope to have two
and three vocations amid their work life. people can expect to have two and three careers during their work life.
Those leaving one career often think about their second or third career move being one they can run out of their own
home. This task will show the different types of business, how it works and the benefits and constraints of each type
of business. In addiction, it also helps to better understand the impact of different types of businesses on the
economy.
Methodology
Small Business: The Golden Pine Pub in Danang is for a steady while probably the most popular bar in Danang,
with a funny Vietnamese and Expat mingled public.The Golden Pine Pub offers great atmosphere, the ongoing
parties, dancing on the Bar and the staff that makes Golden Pine to a Great Bar. They are friendly, service minded
and always in for a joke. The owner Mr. Hiep managed to turn the Golden Pine Pub in three years to a great party
place where you can often dance and have fun till the early morning. (Danangonline, 2017)
Scalable startup: GO-VIET is a technology call application with similar features like other applications (Grab,
Uber, Vato ...) with the main function of car call, delivery, food delivery and functional integration. Online payment
capability. GO-VIET is a technology-backed car service backed by GO-JEK and behind. GO-JEK will invest its
expertise, experience and in-depth knowledge in 8 years of experience in the field. Car call in Indonesia. (goviet,
2018)
High growth firms: Highlands Coffee was born from endless passion with Vietnamese coffee beans. Starting with
packaged coffee products in Hanoi in 2000, highlands has rapidly developed and expanded into a famous coffee
brand and continuously expanded domestic and foreign operations since 2002. Coffee not just a familiar drink but
also a cultural mission that reflects a part of the modern lifestyle of Vietnamese people. (Highlandscoffee, 2019)
Social enterprise: Charity: water's mission is to change that by bringing clean and safe drinking water to people in
developing countries. This organization works with dozens of local partners abroad and has completed more than
21,000 clean water projects to more than 6.4 million people have access to clean water and improved sanitation.
(Charitywater)

Analysis
1. Explore and illustrate the range of different entrepreneurship ventures
1.1 Types of entrepreneurial ventures and their relation to the
entrepreneurship. (P1)
Defining entrepreneurship, entrepreneurial activity and enterprise.
- Entrepreneurship: entrepreneurship is defined as "ownership spirit" and entrepreneurs are "owners."
Ownership here, not encapsulated in creating a business, build an empire to change the world; mastery can
also be understood in the sense of actively mastering your life (Ferreira, 2018)
- Entrepreneurial activity: is the ambitious human activity in quest for the age of the generation of value ,
through the creation or development of monetary action, by recognizing new product, processes or markets.
(Seymour, 2008)
- Enterprise is a for-profit company or small business, ready to implement new business projects. There are
many forms of a business such as: Sole proprietorship, Partnership, Corporation and Limited Liability
Company (LLC). (Market business news, 2019)
The relation to the typology of entrepreneurship.
BASIS FOR
COMPARISON
ENTREPRENEURS INTRAPRENEURS OWNER-
MANAGERS
Meaning Entrepreneur is a
person who
establishes his own
business with a new
idea or concept.
Intrapreneur is an
employee of the
organization
responsible for
implementing ideas
to innovate products
and services
innovations in
products, services,
processes, etc..
Owner
management
is an
individual
within the
company who
is responsible
for managing,
controlling
and operating,
leading a

company..
Focus Starting a business Work for the
company
Continuous
operation
Approach Intuitive Restorative Official
Risk By the entrepreneur
himself.
Taken by the
company.
Do not like
the adventure
Reward Profit Low Salary High Salary
Status Owner Employee Owner
Driving force Bring new ideas and
improved them
Give new ideas and
implement them
Keep the
same form
Enterprise Newly established Business already
available
Long
established
business
Table 1: The relation to the typology of entrepreneurship. (S, 2016)
Four types of entrepreneurial ventures
- Small business: According to Mclntyre (2018), (McIntyre, 2018) a small business, or small companies as a
group. It is usually privately owned, does not employ many people and has a low sales volume
- Scalable startup: (Somina, 2019) Somina (2019) defined that these startup projects are in great need of
supportive venture capitalists to find new business models. They only work with the best people. Once they
have found a suitable product and business model, they are even more focused on the direction of expansion
and are more and more eager to call for investment to accelerate the progress to the fastest.
- High growth firms: According to (CHEN, Growth Firm , 2018) Chen (2018), a high growth firm is an
organization becoming quicker than its companions or the more extensive economy. Although there are no
hard-and-fast rules of defining growth, these organizations have increased annual revenues more than the
business normal over a continued period. A firm isn't named a growth firm if incomes or other budgetary
measurements flood for one quarter and unwind in ensuing periods. This progress must be demonstrated
more than quite a while to legitimize the nature of development.
- Social enterprise: According to Barone (2019) (BARONE, 2019) Social entrepreneurs are people who
possess enthusiasm and enthusiasm that are not inferior to any of the founders in general. However, unlike
the expansion-oriented startup projects, their goal is to turn the world into a better place, superior to getting
rich. Projects of this type can be non-profit or only profitable enough to run businesses.

The relation to the typology of entrepreneurship: Lifestyle and growth
Lifestyle Growth firms.
To creates a business with the goal of changing
their personal lifestyle and not just for profit. A
lifestyle entrepreneur who focuses more on life
rewards is offered to those who like and are
passionate about what they are doing.
Characteristics of lifestyle entrepreneurs: They
mainly focus on lifestyle rather than customer
services. ( BusinessDictionary , n.d)
is a company with more growth than its peers.
Although there is no clear definition of growth,
it can easily be recognized because annual
revenue increases more than the average of the
year. (CHEN, 2018)
Table 2: Lifestyle and growth firms
1.2 The similarities and between entrepreneurial ventures (P2)
Four different types of businesses are small business, scalable start up, high growth firm and social entrepreneurship
have similarities and differences
The similarities: All four types of entrepreneurs are profitable business activities, First, they have their own goals
and they try to achieve those goals. Second, they try to generate revenue, each type of company needs to be
profitable to accomplish its goals. While they try to make a profit, it will affect the market, supply and demand and
cash flow works smoothly. Therefore, it may affect the growth of the economy.
The differences:
Small Business
(Golden Pine)
Scalable Startup
(GoViet)
High Growth
Firm
(Highlands
Coffee)
Social Enterpirse
(Charity: water)
Size Small Small Large Large
Structure A private
enterprise with
simple
organization
structure is
operated by small
and medium
system.
A private
enterprise with
simple
organization
structure is
operated by small
and medium
system.
Public firm and
be privatized
Charity
organization
which is
cooperated from
company people.
Goals Provide alcohol
drink and music
to the customer.
Provide
appication
products to help
people life
Provide Coffee
products and also
another
beverages, space
for work and
entertainment.
Invite people
make impacts to
people who are
living without
water, and give
the gift of clean
water all year
round.

Help a
community gets
access to clean
water, bring clean
water to poor
area
Market Da Nang City
(Viet Nam)
Traffic,
transpotation
Beverage Charity Global
UK
Capital Low capital
Competion Many pub, bar,
louge in the same
area
Few of same App A lot of
competitor such
as many another
Coffee brand,
nice space
Has many group
at the same field
but no
competitor.
Table 3. The differences between entrepreneurial ventures.
The table above shows the difference between business projects in many respects. It has the main difference is their
structure. Golden Pine and GoViet are two private companies operating on a small scale, Highlands coffee is a
public company operating on a larger scale and tends to privatize a lot, employees and Charity Water are
collaborative charities from many people and also have many employees
2. Evaluate the impact and importance of small businesses on the eco
2.1 The impact of small businesses on the economy
Small businesses can impact the economy in many areas such as regions, taxes, operating funds, etc. Golden Pine
has used capital to build businesses for a period of time and established. in 2012. They also paid insurance for their
full-time employees, for tax purposes in 2018 they paid about VND 550 million for rental income. They train
professional skills for employees and develop diverse services for customers such as Bartender, DJ, Waiter,
Cleaner, Security. GoldenPine is a small business but their impact on the economic is not small. It shows that small
companies also affect the economy in many respects: taxes, they provide skills, capital, create jobs and diversify
customer choices for entertainment in the potential city like Da Nang.
2.2 The importance of social enterprise to the growth of the soc
The social economy is all business activities run by a strong social mission as well as the intention of the members
to ensure that the project is economically efficient. They work not for profit but for social development. However,
the biggest difficulty of these enterprises is the lack of capital, moreover, the human resources of these businesses
are mostly disadvantaged and less fortunate. Therefore, they need government support such as incentives, taxes,
financial support and human resources to help social enterprises grow.
About Charity Water, they create conditions to bring clean water to poor households in the westen area. In some
appropriate ways, use a variety of tools to raise awareness of their lifeless communities like newspapers, radio and
television, as well as organize events with the participation of senior officials, implementing advertising campaigns

on social networks and the Internet. In addition, how well Charity Water works closely with media agencies and
more than 120 journalists to enhance the conveyance of the importance of clean water. Therefore, Charity Water
helps people realize the value of clean water in life, understand the importance of nature. Bring life to people with
fair benefits.
CONCLUSION
Some might start out as employees or apprentices for other businesses and the
experience before they set out on their own. But with the right idea and det
dreams of having their own small business come true.
Bibliography
BusinessDictionary . (n.d). Lifestyleentrepreneurship. Retrieved from
http://www.businessdictionary.com/definition/lifestyle-entrepreneur.html
BARONE, A. (2019). Social Enterprise . Retrieved from https://www.investopedia.com/term
enterprise.asp
Charitywater. (n.d.). Retrieved from https://www.charitywater.org/
CHEN, J. (2018). Growth Firm . Retrieved from https://www.investopedia.com/terms/g/growth-firm
CHEN, J. (2018). Growth Firm . Retrieved from https://www.investopedia.com/terms/g/growth-firm
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