Small Business Management and Entrepreneurship
Added on 2020-01-23
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ENTREPRENERUSHIP
Table of ContentsENTREPRENERUSHIP..................................................................................................................1INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1.Different types of entrepreneurial ventures...........................................................................3P2. Similarities and differences between entrepreneurial ventures............................................4TASK 2............................................................................................................................................5P3. How micro and small businesses impact on the economy...................................................5P4 Important small businesses and business start –ups growth of the social economy .............7TASK 3............................................................................................................................................8P5. characteristics, traits and skills of two successful entrepreneurs.........................................8P6. entrepreneurial personality reflect entrepreneurial motivation and mindset.......................9TASK 4..........................................................................................................................................11P7. how background and experience can hinder or foster entrepreneurship.............................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTIONEntrepreneurship is the process to develop a new business with their new ideas andcreativity. In which establish businesses on the basis of their innovative ideas that help to providebetter and effective products and goods to customers and help to build a image in the market alsoin the customers mind. In which mainly including two elements one is entrepreneur and secondone is their innovative idea(Blackburn, Hartand Wainwright, 2013). Entrepreneurship process abusiness man try to build or establish their own business their on risk because when start theirown business so in the market have to face many problems and issues. They want to attractcustomers towards their services and products so should make some different ideas with usingnew and innovative techniques and methods those help to establishment of the firm. For establisha new business their ideas and motivation generated by their family, friends, and externalbackground of the person they motivating to start their own business and help in establishment.Entrepreneurship help to develop countries economy as well as industrial development in theeffective management.TASK 1P1.Different types of entrepreneurial ventures.Entrepreneurship is the systematic process in which establish a new business with theirnew and innovative idea. Its start their own risk because in the market and during to establish abusiness so their have to face risk and competitors in the market so have to use some effectiveand smart techniques to face problems and resolve them(Carland, Carland and Stewart, 2015). Inthis process having their own decide objectives and goals and they motivated by their familymembers, friends and external environment. Its help to provide better opportunities to public toearn something and increase their standard of living. To start own business in the country sogovernment through establish and regulate some rule and regulations those are have to follow byall the entrepreneurship firm lie income tax, sales tax, duties, export and import tax and specialtaxes and so more.In the other hand, identified the various types of entrepreneurial by mini-research or survey in the market those are under the below:
The Social entrepreneurs: these kind of entrepreneurs are working under the society. Inwhich they are transferring the products one place to another. They are trying to improveeffective environment, culture and society climate in the effective manner. In which theyare trying to improve product quality to build effective image in their products and intheir customers mind.The Serial entrepreneur: The serial entrepreneur are those who are easy to start a newbusinesses with new and innovative idea in which business man can copy past businessmodel and strategies to develop a new business in their systematic manner. These kind ofentrepreneurs are able to take any kind of risk.The Lifestyle entrepreneur: These kind of entrepreneurs are their interest and passions areadopt in actual businesses process. According to their passions and interest on the basisof they will develop their business effectively. So these kind of businesses are easy tounderstand customers demand and their and according to them they will provide productsand services.These all ventures as well as entrepreneurs are relating to the each other they start the newbusiness with new and effective ideas to satisfied customers need and wants. Entrepreneurshipare anyone can start with their ideas to earn profits and attach high number of customersP2. Similarities and differences between entrepreneurial ventures.As per the survey in the market to investigate different types of entrepreneur venturesLike social entrepreneurs, serial entrepreneurs and lifestyle entrepreneur. so in which theirsimilarities and differences. Those help to easy to differentiae all entrepreneur's in the systematicmanner(Carsrud and Brännback 2011). Mainly there are two types of entrepreneurship in themarket one is serial entrepreneurship and second one is social entrepreneurship. Serialentrepreneurship working for their own profit earn by the customers and establish their image inthe market and lasso in the customers mind. Serial entrepreneurship establish working for onlyprofits and develop their businesses while using some effective techniques and methods. In theother hand, social entrepreneurship working for social welfare and their safety and security. Theyare not working for earn profit. These kind of entrepreneurialism regulated by government of thecountry. In which provide services and facilities to society and also opportunities to them so theycan earn something to survive their life in the effective manner and set some goals and objectives
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