Entrepreneurship and Small Business Management

Entrepreneurship
and small business
management

Introduction
Entrepreneurship is core aspect for every business. Every single large company
ongoing available as a small business, controlled by an entrepreneur. The economy is
becoming more volatile, requiring knowledge and skills for starting a new venture by
bringing the variance among wealth and poverty. The awareness of entrepreneurship contains
the origination qualities and worth conception. The entrepreneurship comprises the persons
capitalizing their efforts in the business. The entrepreneurship denotes to a ground of business
which delivers considerate of opportunities in the marketplace for formation of somewhat
innovative such as new product or services, new market etc. this is formed by the
businessperson who is distinct person taking risk and uncertainty in the aim of profit
maximization. Each corporate, large or small, necessity be entrepreneurial for surviving with
the help of innovation (Abdollahi and et.al., 2017). The entrepreneur in the business is one
who has the capability, skills and talent. The discussion is based on the plentiful variety and
topologies of entrepreneurial venture with the difference between the entrepreneurial venture.
It also discusses the importance of starting small business with determining the skills and
traits and features of mind set of entrepreneurs by thoughtful the part of hinder and adoptive
diverse environment influence on entrepreneurship.
The chosen organization is Accenture which is a multinational Irish-domiciled
company offering consulting and processing services worldwide. It was established in 1989
by David Rowland. The headquarter is situated in Dublin, Ireland.
Main body
P1- Examine different types of entrepreneurial ventures. entrepreneurial ventures and
explain how they relate to the typology of entrepreneurship
For the accomplishment of the success as the businessperson, it is extremely
significant to choose the flawless and suitable business ventures. Though, in selection of
operative business ventures the entrepreneur must understand business effectiveness by
having responsibility capacity to run the organisation. Entrepreneurial ventures define an
organization that spot innovation, resourcefulness at its core in command to generate
monetary or societal value. The topology of the entrepreneurship is based on the human
behaviour considering the numerous terms of value and develops several methodologies and
samples. The entrepreneur has different roles requiring skills and knowledge to forecast the

future and present needs and delivering best ideas to market. There are different types of
entrepreneurial ventures (Ahmed and et.al., 2017).
Small business entrepreneurship: This kind of start-up businesses is runed by the owners
having low numbers of employees and low revenue as they continuously focus on receiving
further customers and expansion of its products or services. The business is either run by the
partner or family member. The independent entrepreneurs manage this kind of organisation
by taking decisions and have full control. Though, some small businesses deliver innovative
products or services and raise exponentially.
Scalable start-up entrepreneurship: The visualization of entrepreneurship is to change the
world by producing innovative products and services. The investment is searched from
venture capitalists and financial investors. The member explores for the employment and
likewise emphasis on scale as it needs additional venture capital to enlarge the business
(Aldairany and et.al., 2018).
Large company entrepreneurship: The big organisations have predetermined life cycle and
concentrate on providing innovative products or services to the clients for sustainability and
long life of the business. The customer demand and trend changes with the competition. The
main purpose of such organisation is to achieve massive profit by focusing on innovation for
creation of new products for new market.
Social entrepreneurship: This kind of entrepreneurship emphases on resolving diverse
common difficulties by distributing their products or services. This organisation attentions on
generating an improved world for the persons. The entrepreneur can be for profit and non-
profit maximization or can be hybrid (Al-Sartawi and et.al., 2019).
M1 Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding
of entrepreneurship in both the public and corporate sector.
The different types of the entrepreneurial venture contain entrepreneurial,
Intrapreneurship and managerial. The entrepreneurial defines an independent individual
working with freedom having inadequate resources. The Intrapreneurship are self-motivated,
proactive and action-oriented persons who takes initiatives and decision with own and within
the boundaries of the organisation. In the managerial term the individual works with the
manager to manage the people in the company and paid for their working.