logo

Concept of Entrepreneurship and Examination

   

Added on  2020-02-03

15 Pages4844 Words58 Views
Entrepreneurship
 | 
 | 
 | 
Entrepreneurship and SmallBusiness Management
Concept of Entrepreneurship and Examination_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P1 & M1 Concept of entrepreneurship and examination of different type of entrepreneurshipventures.......................................................................................................................................4D1................................................................................................................................................5P2 Different entrepreneurial ventures having similarities and dissimilarities............................5TASK 2............................................................................................................................................6P3 & M2 How micro and small business affect the UK economy.............................................6P4 Importance of small business and start up business to the growth of social economy..........7D2................................................................................................................................................8TASK 3............................................................................................................................................8P5 Characteristics, traits and skills of successful entrepreneurs.................................................8P6 Assess how aspects of the entrepreneurial personality which reflect the entrepreneurialmotivation and mind set..............................................................................................................9M3.............................................................................................................................................10D3..............................................................................................................................................10TASK 4..........................................................................................................................................11P7 Impact of the background and experience on the entrepreneurship....................................11M4.............................................................................................................................................11D4..............................................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
Concept of Entrepreneurship and Examination_2

INTRODUCTIONEntrepreneurship is a individual person who sets up a business or businesses which assistin taking on the financial risk so that they can earn a huge profits (Bruton and et.al., 2015).Along with this it is a promoter in the industry so that they can earn success at the time of highcompetition in the market. To expand the growth in the market they have to take more riskotherwise they have to face so many issues. In the below mentioned report, discussion basedupon the different type of entrepreneurial ventures and typologies which are related to them. TASK 1P1 & M1 Concept of entrepreneurship and examination of different type of entrepreneurshipventuresEntrepreneur is a individual person and one who organise or manage all the risk whichare occur in front of them in a business or enterprise. Entrepreneurship is the state which helps inbeing a successful entrepreneur. It is a art of generating and innovative ideas so that they canmaintain their funds in a proper way and generate the maximum profits. They have to do properdesigning of the products so that they can easily sell (Carland Jr, Carland and Carland III, 2015).There are two entrepreneurs who become successful by using the innovative and creative ideasthey are Elizabeth Gooch and she establish the EG solutions PLC and another one is Tom Mercerwho establish the MOMA foods. For improving the business in the competitive market they haveto use creativity as well as innovation so that they can not face any problem in attaining thetargets. As a line manager, manages finances and resources by taking the responsibilities fordeploying the resources that is time, money and several other resources to achieve plans. Themanager ensures the value for money my managing budgets and monitoring them, by making thebest use of the resources. Entrepreneurial ventures are having the several types and they arehaving the relation with their typologies so that they can not face any obstacles in attaining thesuccess and managing the risk which assist in generating more revenue. They are:Small business entrepreneurship: It is a small business and it includes those people who aretaking a risk to start the business and by which they can generate more revenue. Those individualperson who want to start the business does not having source to generate the funds they can onlytake the funds or resources to start the business with their friends and family members. It is
Concept of Entrepreneurship and Examination_3

related to the accomplish entrepreneur and in this he has to make a plan to set a good business toattain success (Carland, Carland and Stewart, 2015). Scalable start up entrepreneurship: This business is started by the individual person to change thevision and mission statement in the whole world. It helps in attracting the investors to do the longterm investment so that they can increase their capitals. This entrepreneurship is related to thedetermined entrepreneur and these can not do any copy of the information for changing thestatement which assist in expanding the growth. Large company entrepreneurship: In this every entrepreneur have to follow the appropriateprocess and for that they have to do the innovation so that they can grow the business so thatthey can offer the new products. It is related with the sceptical entrepreneur and in this they haveto provide best products according to the needs and wants of the consumers by using the newtechnology. Along with this they have to find the problem if any occur then they have to resolvethat on time (Carland and Carland, 2015). Social entrepreneurship: In this entrepreneurship, these are the individual person who improvethe business by using the innovation as well as by providing the quality in the products so thatthey can attain the success. In this proper research is required so that they can learn new thingsand according to that they can develop the products so that they can attain success and that's whythey are related to the research entrepreneur. Managerial Entrepreneurship: Managerial Entrepreneurs uses the entrepreneurship skills to growtheir existing business beyond the reach of their competitors and also they have a hold on to themarket share.Entrepreneur: Entrepreneurs are the one who is not dependent on anyone in operations. Intrapreneur: Intrapreneur is fully dependent on the entrepreneur, which is the owner of thebusiness. They don't usually rises funds that are required for the business. D1According to Carraher and Paridon, (2015), it has been analysed that in UK there aredifferent entrepreneurial ventures are there and every one has to expand the business to attain thesuccess in the competitive market. In the market, they are having a wide areas and on the needsand wants of the consumers they have to do the development and growth so that they can faceany issues and attain targets.
Concept of Entrepreneurship and Examination_4

End of preview

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

Related Documents
ENTREPRENEURSHIP TABLE OF CONTENTS INTRODUCTION
|21
|7541
|63

Impact of Micro and Small-business on UK economy : Assignment
|20
|6003
|95

Report on Evaluation of Types of Entrepreneurial Venture
|15
|5029
|77

Small Business Entrepreneur and Its Impact on Economy
|14
|4650
|241

Report On Entrepreneurial Ventures & Small Size Organization's Role
|20
|5742
|109

Entrepreneurship & Small Business Management : Assignment
|14
|4681
|81