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Assignment on Entrepreneurship and the Small Business Management

   

Added on  2020-06-04

16 Pages5393 Words77 Views
Entrepreneurship andSmall businessmanagement

Table of ContentsINTRODUCTION...........................................................................................................................3TASK1.............................................................................................................................................3P1. Different types of entrepreneurial ventures and their relationship with typology...........3P2. Similarities and difference between different entrepreneur ventures...............................4M1 Investigate diverse range of entrepreneurship ventures...................................................6D1 Critical examination of scope, development and growth of entrepreneurial ventures.....6TASK2.............................................................................................................................................6P3. Assessing and interpreting relevant data and statistics in order to define how micro andsmall businesses impact on economy ....................................................................................6P4. Explain the importance of SME's and business start ups to the growth of social economy.9M2 Difference between small, medium, large business.......................................................10D2 Examination of small, medium and large business to economy.....................................10TASK3...........................................................................................................................................10P5. Characteristic, traits and skills of two successful entrepreneurs which differentiate themfrom other business manager................................................................................................10P6. Aspect of the entrepreneurial personality that reflect entrepreneurial motivation andmindset.................................................................................................................................11M3 Examination of various entrepreneurial characteristics.................................................12D3 Analysis of characteristics traits, skills and motivational drivers..................................12TASK4...........................................................................................................................................12P7. Examine background and experiences that can hinder or foster entrepreneurship........12M4 Link between entrepreneurial characteristics and personal background.......................13D4 Critical evaluation of Background and experience of entrepreneurs in negative andpositive way..........................................................................................................................13CONCLUSION..............................................................................................................................13REFRENCES.................................................................................................................................14

INTRODUCTIONEntrepreneurship is the business started by the idea of individual in such a waythat increase the chances of growth and success. Further entrepreneur is that personwho start their business with zero and carrying all the activities in such manner thatmake it more profitable. They focuses on all the innovative and creative ideas in theirproducts and services which ensure success in external market and enable them toestablish long term relationship and trust by satisfying their needs and wants. In todaydynamic environment changes are coming in frequent manner so in order to beat allchallenges small companies need to update with all latest technologies(Dennis Jr ,2011). Under this assignment the company which is preferred I.e. wiser which is UK basedrecruitment company whose main aim is to provide employment to all those people whodreams big and expect more. Further it discuss about different types of entrepreneurialventures, similarities and differences between various enterprises, skills and traits ofentrepreneur and experiences that can hinder or foster entrepreneurship.TASK1P1. Different types of entrepreneurial ventures and their relationship with typologyEntrepreneurial ventures described as process in which business has been setup with the motive of accomplishing all the objectives and targets. In every organisationthe main objectives is to earn huge revenue and brand image in market that helpbusiness to remain sustain in external market for longer period of time. These venturesare coming with new ideas and creativity that make their organisation productive andefficient. Different types of resources has been used under it like land, labour, capitaland finance which is essential for running all the present and existing project ofcompany (Fassin , Van Rossem and Buelens ,2011). Ventures of entrepreneur:- Some of the ventures are as follows:-Small business entrepreneurship:- These includes all the small business idealike art, craftsmanship and paintings which run on small scale. They require small fundsfor fulfilling their business needs.Scalable entrepreneurship:- these association is running on large scale andpublish all the idea and convince people in order to invite them in venture. Their thinkingis different from others.Social entrepreneurship:- These ventures generally work for the welfare ofpeople and getting the help of government in relation to finance which allows them toorganise their events in order to educate and guide rural people about the human rightsand benefits they gained from companies.Various types of entrepreneurial ventures are described below:-Serial entrepreneurship:- These type of business organisation are running byone or more individuals and all the activities and operations are carried out by thatperson only with the motive of earning profits.Female entrepreneurship:- Women entrepreneurship is generally a process inwhich all the policies, procedures and factors related to production, undertaking risk anddecision related to providing employment to other is decided by women only. Forexample BAWE is one of the famous organisation consist of women only who build theirown brand and pride in market.Basically typologies is divided into three parts:-

Survival ventures:- These ventures are generally established in order to satisfythe daily needs of themselves.Lifestyle ventures:- These types of ventures generally established in order touplift the living standard of people and make changes in their product accordingto the demand of customer.Managed growth ventures:- these type of association run by those individualswho know how to managed the growth of business and earn the profits.Relationship of typology with entrepreneur ventures:-Social entrepreneurshipIn this social entrepreneurship there is neeof policies which are significant for socialdevelopment of country. This is effectivefor making changes in society.Survival ventureThis venture works for survive of society.There is use of policies which aresignificant for improving condition ofsociety. There is effective use of effectivetechniques which is done with the socialentrepreneurs.Small business entrepreneurshipThis is the business which is run by singleperson who bears loss, risk as well asprofits too. They work for their theirlivelihood.Lifestyle venturesIn this venture there is working undersome passion to earn money. In this typeone person can work and this is effectivefor people who have some skills and theyare ready to work hard and face hardshiptoo. P2. Similarities and difference between different entrepreneur venturesTheir are different similarities and differences between various entrepreneurialventures but there are some variations and deviation in various ventures describedbelow:-Social entrepreneurship Lifestyle Entrepreneurship Similarities Similarities These type of businesses providingstandard quality of services to targetaudiences particularly in the societywhere they established. The aim goals is to provide suchtypes of goods and services whichhelp in satisfying the needs andwants of customers.Prices are decided on the basis ofearning capacity of person so thatthey easily buy goods without anydifficulties.Under this they concentrate onsome innovative and creative ideasin their goods ans services that helpin attracting huge number of peoplewhich satisfy their needs.These enterprise produced goodsand services according to thedemand of public and ensure that itis healthier for them.These type of companies also workfor social welfare by contributingamount in CSR activity in order toproviding better infrastructure andeducation to rural areas of country.

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