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ASSIGNMENT Entrepreneurship & Small Business Management Introduction 4 Part 1 5 LO 1

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ASSIGNMENT Entrepreneurship & Small Business Management Introduction 4 Part 1 5 LO 1 Explore and illustrate the range of venture types that might be considered entrepreneurial. 5 P2: Explore the similarities and differences between entrepreneurial ventures 6 M1: Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both the public and corporate sector. 11 M2: Evaluate the differences small, medium and large businesses make to the economy, applying relevant data and statistics.

ASSIGNMENT Entrepreneurship & Small Business Management Introduction 4 Part 1 5 LO 1

   Added on 2021-07-13

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ASSIGNMENT Entrepreneurship & Small BusinessManagement1
ASSIGNMENT Entrepreneurship & Small Business Management Introduction 4 Part 1 5 LO 1_1
Table of Contents Introduction.................................................................................................................................................4Part 1...........................................................................................................................................................5LO 1Explore and illustrate the range of venture types that might be considered entrepreneurial...............5P.1Examine different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurship.....................................................................................................................................5P2: Explore the similarities and differences between entrepreneurial ventures...........................................6M1: Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding ofentrepreneurship in both the public and corporate sector............................................................................8LO2: Assess the impact of small businesses on the economy......................................................................9P.3 Interpret and assess relevant data and statistics to illustrate how micro and small businesses impacton the economy.......................................................................................................................................9P4: Explain the importance of small businesses and business start-ups to the growth of the socialeconomy....................................................................................................................................................11M2: Evaluate the differences small, medium and large businesses make to the economy, applyingrelevant data and statistics.........................................................................................................................12Part 2.........................................................................................................................................................13LO3: Determine and assess the key aspects of an entrepreneurial mind-set..............................................13P5: Determine the characteristic traits and skills of successful entrepreneurs that differentiate them fromother business managers............................................................................................................................13P6: Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset...................................................................................................................................................................14M3: Explore and examine different lines of argument relating to entrepreneurial characteristics.............14LO4: Examine the different environments that foster or hinder entrepreneurship.....................................15P7: Examine, using relevant examples, how background and experience can hinder or fosterentrepreneurship........................................................................................................................................15M4: Analyse the link between entrepreneurial characteristics and the influence of personal backgroundand experience to specific successful entrepreneurs..................................................................................16Conclusion................................................................................................................................................17Reference..................................................................................................................................................182
ASSIGNMENT Entrepreneurship & Small Business Management Introduction 4 Part 1 5 LO 1_2
Introduction Entrepreneurship is the approach to launch a company by planning for the exact purpose ofvarious threats, such as the uncertainties found with both financial and administrativeendeavours. Owners and operate a business successfully can choose a different framework fortheir entrepreneurial activities, such as sole proprietorship, partnership, corporation, or non-profitto best suit their interests. The developers must have particular qualifications, and capabilities inmanagement and administration, as well as the ability to grow a business, and company in thoseareas to have a good opportunity. The entrepreneurship that a company is capable of yieldingdepends on various aspects, including the personality of the owner, history, knowledge andabilities of the owner, and level of experience. This report would analyse various forms ofbusiness projects on the economy, with particular attention provided to their impact on differentregions. in addition to this, there would be elaboration on the complexities of how one shouldjoin the company and what it takes to launch it, as well as rewards and obstacles to experience.3
ASSIGNMENT Entrepreneurship & Small Business Management Introduction 4 Part 1 5 LO 1_3
Part 1LO 1Explore and illustrate the range of venture types that might beconsidered entrepreneurial.P.1Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship.Below are the numerous forms of entrepreneurial ventures:Entrepreneurship of small businesses: These types of start-ups may only be operated by thefounders, and the number of workers is very small. Furthermore, sales production is limited, andthese companies are constantly concentrating on attracting new customers and creating newgoods or services. This style of company can be managed with the help of family members andcolleagues. However, there are many small companies that provide creative goods or servicesand are increasing rapidly (Drucker, 2014).Scalable start-up entrepreneurship: These companies begin with creative concepts andconcentrate on delivering innovative goods or services from the outset. These founders claimthat their inventions have the potential to transform the planet, and they seek funding fromventure capitalists. These companies seek the best minds for the market and strive to provide aflexible business model.Big corporation entrepreneurship: Since large companies have a short life span, they rely ondelivering innovative goods or services to consumers in order to maintain the business's survivaland durability. Customers' demands and trends change with time, as does regulation and policy,which force major organisations to engage in technological innovation and develop innovativegoods for completely different markets. However, the organization's size renders technologicalcreativity impossible.Social entrepreneurship: This form of entrepreneurship focuses on addressing multiple socialissues through the distribution of goods or services. This kind of organisation focuses on makingthe environment a safer place for citizens, which may be for-profit, non-profit, or a combination.This organisation focusses on creating a better world for the people and can be for-profit, non-profit or hybrid (Scarborough, 2016).4
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