Analysis of Entrepreneurship Research Papers

This assignment involves analyzing and summarizing key points from a list of provided entrepreneurship research papers. The papers cover topics such as social entrepreneurship, entrepreneurship education, effectuation, causation, bricolage, cognitive perspective in entrepreneurship, international entrepreneurship research, competition and entrepreneurship, intrapreneurship, and entrepreneurship as method. The analysis provides an overview of the various theories, perspectives, and approaches to entrepreneurship, highlighting key findings and implications for future research.

Entrepreneurship and
Small Business

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1.Different types of entrepreneurship ventures and how they relate to the typology of
entrepreneurship.....................................................................................................................1
P2. Similarities and difference between entrepreneurial ventures.........................................3
TASK 2............................................................................................................................................1
P3 Interpret relevant data and statistics in your mini-research, to illustrate how micro and
small businesses impact on the economy...............................................................................1
P4. Explain the importance of small businesses and business start-ups to the growth of the
social economy.......................................................................................................................2
TASK 3............................................................................................................................................4
Covered in PPT.......................................................................................................................4
TASK 4............................................................................................................................................4
Covered in PPT.......................................................................................................................4
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Entrepreneurship is an art of making something innovating from nothing. Practices of
designing and creating a new business in competitive business environment is generally refereed
as entrepreneurship. It is a process where an individual operates and manage all business
activities and pursuing its vision and dream in a competitive market place. Entrepreneur is a
person who is willing to take risk to create innovative ideas which help them in meeting their
goals (Ahl and Marlow, 2012). As entrepreneurs are self- motivated and self-employed they
identify opportunities and made strategies according to it, which aid them to maximise their
overall performance. Various entrepreneurship venture and how they relate with different
typology of entrepreneurship, similarities and difference between various entrepreneurship
ventures, economical impact of small business has been discussed in this report. Along with this,
entrepreneurs traits and skills, personality of an entrepreneur that motivate others as well as
different environments which will foster or hinder entrepreneurship has also been discussed in
this report.
TASK 1
P1.Different types of entrepreneurship ventures and how they relate to the typology of
entrepreneurship
Entrepreneurship is a process of starting or launching a new business, along with
involvement of risk in order to accomplishment of goal and earning profit (. There are various
kind of entrepreneurship ventures are described as below:
(a) Small business entrepreneurship: In small business entrepreneurship only single
person is involved who run or operate their own business. It may be their any family members
or local employees. Some small business are consultants, hairdressers, grocery stores, travel
agents, electricians, restaurants and so on (Barringer, 2015). They borrow a fund from banks,
friends, family etc. for smooth running of their business. Their main motive is to earn long term
profit and to make sustainability at marketplace.
(b) Scalable start-up entrepreneurship: In scalable start-up entrepreneurship,
entrepreneurs aim is to make some changes in the business world by using their innovative and
creative idea. They hire new and fresh talented employees. Also they attracts financial investors
who can invest in their business, which also generate a competition level at marketplace.
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(c)Large company entrepreneurship: In large company entrepreneurship, their main
motive is to generate a revenue or profit for sustainability of their company at marketplace. They
provides a various number of products on large scale for attracting more customers towards their
product or company. It includes general electrics, general motors and so on. Along with for
better development of a existing business they hire an innovative companies for producing new
or different products in to order to attainment of goal effectively (Bridge and O'Neill, 2012).
(d)Social entrepreneurship: In social entrepreneurship, entrepreneur helps in solving a
problems for developing countries effectively. Their goal is to maximise a long term impact on
the society and to make a world at better place. It may be a non-profit, for profit or hybrid
organisation.
In context of entrepreneurship, typology means to classify their basis in a different way
such as structure, form, style and so on. There are some typology of entrepreneurship are
described as below:
 Survival ventures: In this venture of entrepreneurship, entrepreneur manage or run their
business at global level by the aim of satisfying a need and wants of their own or their
families too. In this entrepreneurship typology includes all micro-business.
 Lifestyle ventures: In lifestyle ventures, entrepreneur manage their business functions
effectively in order to achievement of goal. Also it helps in improving their standard of
living. They focuses on quality of life rather than growth. All the small enterprises are
include in this typology of entrepreneurship.
 Managed growth ventures: In managed growth ventures, entrepreneur focuses on to
offered a new innovative products to customers and shift into a new market (Burns and
Dewhurst, 2016). It helps in enhancing a growth of employees to make a sustainability of
their business at market place. All the medium-sized enters are involved in this typology
of entrepreneurship.
 Aggressive growth ventures: In aggressive growth ventures, entrepreneur focuses to
expand their business at global level. They offer innovative products to attract and retain
more customers. Also it creates a competitive advantage in a business environment. All
the large business enterprises are involved in this typology of entrepreneurship.
P2. Similarities and difference between entrepreneurial ventures
Types of enterprises Similarities Difference
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Small vs large business
enterprises
The both small and large sized
enterprises run their business
operations with the aim to earn
long term profits and make a
sustainable position in the
marketplace (Burns, 2016).
 Small sized businesses
borrow a fund from
banks as a loan,
friends, family
members and so on to
operate their business
effectively. Whereas
large size enterprises
borrow a fund by
selling shares of stock
or selling corporate
bonds.
 Small companies
focuses on niche
market whereas large
companies focuses on
providing a variety of
products or services
which attracts more
customers towards
their company or
product.
Social vs scalable enterprises The both social and scalable
enterprises offer good quality
of products and services to
their customers.
The main motive of social
enterprise is to maximise a
long term impact on society
(Choi and Majumdar, 2014).
Whereas scalable enterprises
motive is to to make a changes
in the business world by using
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different innovative ideas.
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TASK 2
P3 Interpret relevant data and statistics in your mini-research, to illustrate how micro and small
businesses impact on the economy
Micro and small businesses start their operations with aim to earn maximized returns and
revenues across the globe. These business organisation play a major role in economic
development of country. These businesses are classified as small, medium and large scale
enterprises which are further discussed below:-
Small-scale enterprise- This refers to business where small number of workers are
employed and don't have high volume of sales. These are privately owned, sole proprietorships
or partnerships. In this type of enterprises number of personnel employed are not more than 50
workers. Small business enterprises face many challenges like financial crisis, technological
advancements, competition level etc. also, enjoys certain advantages like interdependency,
control of business status and many more. For example Revenue of Redbridge is less than £5.6m
as compared to other enterprises.
Medium-scale enterprise- This category of enterprises are formed from slow and steady
growth of small scale enterprises. The operations of these enterprises are managed and controlled
by top level management. The turnover of enterprises should be less than £25m and have gross
assets less than £12.5m.These enterprises employees staff not more than 250 persons. The
availability of resources and procurement is less as compared to large-scale enterprises.
According to investment it lies between £5.6m and £22.8m.
Large-scale enterprise- large-scale enterprises are those which have at least 5000
employees, have annual turnover of £1.5b and balance sheet total not more than £2b. These
enterprises requires influx of capital and huge infrastructure. These enterprises have complex
management structure and many business operations. It also have significant number of clients
and business contacts. It can be defined as large scale business when operations are conducted
beyond its regional area. Also, it is essential for an organisation to take risks in terms of their
operations so that they can enhance their productivity and profitability.
Impact of Micro and Small Business Enterprises

Micro and small business enterprises act as a catalyst for economic development of
country. The main focus of these enterprises is to deliver products and services in such a way to
fulfil customer needs and demands. These enterprises act as driving force for growth, emergence
of new markets and creation of new jobs as their contribution towards economy is vital. These
enterprises requires small investment but have significant role in wealth creation of country.
Micro and small business enterprises creates many employment opportunities but don't believe in
hiring skilled or experienced persons. So, these enterprises face challenges from large entities as
they hire competent and skilled professionals. This can be a threat towards survival, growth and
sustainability for enterprises over a longer period of time. Also, these enterprises helps in raising
standard of living, increase in income, poverty alleviation, increase in GDP and ensure proper
flow of money in the economy.
Around 47% revenue is contributed by micro small business enterprises to UK economy
but wants to increase impact and requires support for expansion of business. As per the results
around 60% private sector jobs are created which plays vital role in economy. The fundamental
drivers for boosting productivity are innovation and expansion but are under explored. Estimates
suggest that improvement in export sector will approximately add £1.15b to annual GDP. Their
is significant increase of 3% in business activities of UK. Around 1.5 million jobs are created
every year by micro-small business enterprises sector.
P4. Explain the importance of small businesses and business start-ups to the growth of the social
economy.
Small Businesses: These businesses are privately owned by various corporations or sole
proprietors who manage and control all business activities to run a firm in an effective manner.
Usually, small business enterprise have few employees and as compared to other business
organisations they earn less revenues because of its small scale nature (Fayolle and Gailly,
2015).
Start-Ups: A start-up business is developed or introduced by an individual. It is a
business venture with the main aim to generate a business model which help in satisfying
customers requirements. Entrepreneurship and start up is quite similar in nature.
Importance of small businesses and start-ups in the growth of social economy
Small business enterprises as well as start ups plays an important role in the economic
development and stability of a country. They also contributes in overall growth and expansion of
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economic as well as socio-economic condition of a country. For this, they perform various
functions:
 Job creation: Small business enterprises and start ups are established at a small scale
with few employees. But in today's competitive world they started hiring lot of people
which will aid them in developing the economic condition of country. Not only small
businesses but start ups create a notable percentage of job creation which help in increase
living standards (Fisher, 2012). Management team started hiring fresh talent, which will
help them in creating innovative products and services. This will aid them in maintaining
sustainability at market place.
 Reduction in poverty: To reduce poverty in a country, people requires productive jobs
which will lead to provide them higher income. With the help of numerous creation of
jobs by start ups and small business enterprises, employment rate can be increased in
country. If people get employment opportunities their standard of living will be
increased. When there is growth in employment rate of a country, its poverty rate will
automatically be reduced.
 Infrastructure development: Small business enterprise as well as start-ups pay various
duties and taxes to their government. With the help of these funds government start
developing road, schools, bridges, hospitals. This will help small business and start ups in
achieving their societal objectives and aims.
 Bringing new values into the society: Small business and start ups help in changing the
mind set of society by bringing new and innovative changes (Grégoire, Corbett and
McMullen, 2011). They work as a role model and motivate many people, which will aid
them to start something new at their own level. Societies or communities face innovative
and upgraded market environment which influence them to start their own ventures.
 Innovation: This is the main element behind development of economy of a country.
Various small business enterprises and start-ups start innovating and creating new
products to maintain a competition among market place. For maintaining sustainability at
marketplace companies started innovating with their products.
 Diversity: Start-ups and small business enterprises are flexible in nature, as it can be
started by almost any individual. As compared to large corporations, it is more diversified
in form of its culture and functions. This will aid them to compete with their rivals or
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large scale corporation and maintain a competitive atmosphere at marketplace (Jones,
Coviello and Tang, 2011).
As per the above scenario, it has been analysed that small business enterprises as well as
start-ups plays a very important role in enhancing the economic condition of a country. Along
with this, they also help in getting satisfactory products and services according to requirements
of consumers of the country. It has been concluded that small businesses and start-ups aid the
government of UK in improving their economic as well as socio-economic condition.
TASK 3
Covered in PPT
TASK 4
Covered in PPT
CONCLUSION
From the above mentioned report it can be concluded that, there are many types of
entrepreneurs and possess some similarities and differences from one another. Also,
entrepreneurial ventures are different from each other and activities are performed according to
needs and situations. For instance main motive of large enterprises is to maximize their returns
but social enterprises emphasis on providing services to raise standard of living and make life
easier. Moreover, to run these businesses vast knowledge and ample skills should be present in
entrepreneurs. Along with this, entrepreneurs should have confidence, charisma, decision-
making ability etc. as these qualities helps to accomplish targets on timely basis. These qualities
and cognitions encourages to opt for something new and innovative. It has also been analysed
that background and past experience plays a significant role in shaping entrepreneurs business
and ideas as it helps to earn more profits and productivity for the business enterprise.
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REFERENCES
Books and Journals
Ahl, H. and Marlow, S., 2012. Exploring the dynamics of gender, feminism and
entrepreneurship: advancing debate to escape a dead end?. Organization. 19(5). pp.543-
562.
Barringer, B. R., 2015. Entrepreneurship: Successfully launching new ventures. Pearson
Education India.
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: Entrepreneurship and small
business. Macmillan International Higher Education.
Burns, P. and Dewhurst, J. eds., 2016. Small business and entrepreneurship. Macmillan
International Higher Education.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Choi, N. and Majumdar, S., 2014. Social entrepreneurship as an essentially contested concept:
Opening a new avenue for systematic future research. Journal of business venturing.
29(3). pp.363-376.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on entrepreneurial
attitudes and intention: Hysteresis and persistence. Journal of Small Business
Management. 53(1). pp.75-93.
Fisher, G., 2012. Effectuation, causation, and bricolage: A behavioral comparison of emerging
theories in entrepreneurship research. Entrepreneurship theory and practice. 36(5).
pp.1019-1051.
Grégoire, D. A., Corbett, A. C. and McMullen, J. S., 2011. The cognitive perspective in
entrepreneurship: An agenda for future research. Journal of Management Studies. 48(6).
pp.1443-1477.
Jones, M. V., Coviello, N. and Tang, Y. K., 2011. International entrepreneurship research
(1989–2009): a domain ontology and thematic analysis. Journal of business venturing.
26(6). pp.632-659.
Kirzner, I. M., 2015. Competition and entrepreneurship. University of Chicago press.
Kiss, A. N., Danis, W. M. and Cavusgil, S. T., 2012. International entrepreneurship research in
emerging economies: A critical review and research agenda. Journal of Business
Venturing. 27(2). pp.266-290.
Kuratko, D. F., 2016. Entrepreneurship: Theory, process, and practice. Cengage Learning.
Naudé, W., 2014. Entrepreneurship and economic development. International Development.
Ideas, Experiences and Prospects.
Parker, S. C., 2011. Intrapreneurship or entrepreneurship?. Journal of Business Venturing. 26(1).
pp.19-34.
Parker, S. C., 2018. The economics of entrepreneurship. Cambridge University Press.
Santos, F. M., 2012. A positive theory of social entrepreneurship. Journal of business ethics.
111(3). pp.335-351.
Sarasvathy, S. D. and Venkataraman, S., 2011. Entrepreneurship as method: Open questions for
an entrepreneurial future. Entrepreneurship theory and practice. 35(1). pp.113-135.
Trimi, S. and Berbegal-Mirabent, J., 2012. Business model innovation in entrepreneurship.
International Entrepreneurship and Management Journal. 8(4). pp.449-465.
Welter, F., 2011. Contextualizing entrepreneurship—conceptual challenges and ways forward.
Entrepreneurship theory and Practice. 35(1). pp.165-184.
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