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Business Enterprises and Entrepreneurs : Report

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Added on  2020-06-04

Business Enterprises and Entrepreneurs : Report

   Added on 2020-06-04

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ENTERPRENEURSHIPANDSMALLBUSINESS MANAGEMENT
Business Enterprises and Entrepreneurs : Report_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different type of entrepreneurial ventures and their relation to typology ofentrepreneurship..........................................................................................................................1P2 Similarities and differences between various entrepreneur's type.........................................2P3 Impact of micro and small business on economy..................................................................4P4 Importance that start ups and small businesses has on the growth of social economy..........5TASK 2............................................................................................................................................5P5 Characteristic and trait of successful entrepreneurs...............................................................5P6 Personality that reflects entrepreneurial motivation and mindset..........................................8P7 Factors that foster or hinder entrepreneurship traits..............................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
Business Enterprises and Entrepreneurs : Report_2
Business Enterprises and Entrepreneurs : Report_3
INTRODUCTIONIn modern times there are large number of small business enterprises that are coming up.Entrepreneurship is the process of formulating, launching and running a new business. It isdescribed as the willingness and capacity to develop, organise and manage a business venturealong with its risks while making profit (Mariotti and Glackin, 2014). In initial phases it isgenerally small business offering a product, service through various processes. Managing thesesmall business becomes highly important as they have limited amount of resources. Theseresources needs to be effectively utilised in order to achieve sustainable growth. Managing thesesmall business enterprise totally depends on the approach that entrepreneur follows. This reportprovides the idea about many types of business enterprises as well as entrepreneurs. It alsohighlights the characteristics, personality and skills of entrepreneurs that help them in managingtheir business.TASK 1P1 Different type of entrepreneurial ventures and their relation to typology of entrepreneurship.There are several kinds of entrepreneurial ventures that are operational in and around theworld. This depends on the capacity and willingness of entrepreneur. According to Steve blankthere are four different types of entrepreneurship:Small business entrepreneurship: These are the start-ups that are running by anyindividual (Drucker, 2014). They generally hire local employees and are barelyprofitable. They are unable to provide the scale so as to attract venture capital and hencefunding is done by family wealth or some friends.Scalable entrepreneurship: These entrepreneurs starts a firm knowing that there ideacould change the world. They generally attracts investments from equally crazy venturecapitalist or financial investors. Their job is to search business model that is scalable andhence hire the best with a focus on rapidly expanding.Large company entrepreneurship: These firms grows through sustainable innovation,producing products which are variants around their prime products. Any external changein the environment can disrupt innovation. Existing firms hires innovative organisations.1
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