Entrepreneurial Ventures and Small Business Management: A Comprehensive Analysis

Entrepreneurship and Small Business
Management
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Contents
Introduction................................................................................................................................4
Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship. [P1]............................................................................................5
Explore the similarities and differences between entrepreneurial ventures. [P2]......................7
You should investigate a diverse range of entrepreneurial ventures to demonstrate an
understanding of entrepreneurship in both public and corporate sector. [M1]..........................8
You should critically examine the scope, development, and growth of entrepreneurial
ventures. [D1]...........................................................................................................................10
Interpret and assess relevant data and statistics to illustrate how micro and small business
impact on the economy [P3]....................................................................................................11
Explain the importance of small businesses and business start-ups to the growth of the social
economy. [P4]..........................................................................................................................12
You should evaluate the differences small, medium and large businesses make to the
economy, applying relevant data and statistics. [M2]..............................................................13
You should critically examine how small businesses have an impact on different levels of the
economy (local, regional and national) and an international context. [D2].............................15
Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers. [P5]................................................................................16
Assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial
motivation and mindset. [P6]...................................................................................................18
You should explore and examine different lines of argument relating to entrepreneurial
characteristics. [M3].................................................................................................................19
You should analyse the characteristic traits, skills and motivational drivers of successful
entrepreneurs, supported by specific examples. [D3]..............................................................20
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Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship. [P7]..............................................................................................................21
You should analyze the link between entrepreneurial characteristics and the influence of
personal background and experience to specific successful entrepreneurs. [M4]...................23
You should critically evaluate how background and experience influence entrepreneurs, both
positively and negatively, by comparing and contrasting examples. [D4]..............................24
Conclusion................................................................................................................................25
References................................................................................................................................26
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Introduction
Small business and the small business entrepreneurship is an effective medium for improving
the business lines in the countries. The UK is one of the most attending countries in which the
small business and new small entrepreneurship have a vast increment. The people in the UK
get the benefit of the developed country having effective business opportunities. The small
business enterprise is still a concern for many countries. This report defines different types of
business ventures and typologies of business which has an impact on the economy of the
countries. In order to focus on the enhancement and effective business, changes have brought
changes to an organisation. The small business organisation of the UK which considers for
this report is Vinaya. This is a business of technology wearable jewellery. This report
provides the information on the different personality and characteristics of the small business
entrepreneurs and their management skills which helps them to ain the success rapidly. The
small business enterprises and the small business management is one of the effective
management planning which is discussed in this report.
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Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship. [P1]
There are different entrepreneurial ventures which could be the big or small businesses. The
size of the business depends on the investment or capital which has been invested in the
initial level of a business. The business ventures are-
Growing business ventures- The growing business ventures are those which are based on
the growing concept of their large-scale operations. The growing business has the motive of
increasing and improving the business with their effective strategies (De Vries, et. al., 2017).
These businesses include majorly IT businesses which have different concept and
applications and software to work upon for the growth of the business.
Existing big scale business ventures- The existing big business ventures are the big scale
and corporate business ventures which has the existing business in the world. These
businesses have their existing markets in which these businesses are brands.
Independent business ventures- The independent business ventures are the small businesses
which are owned by the independent entrepreneur (De Vries, et. al., 2017). The independent
businesses are the local business which contributes to the economy of the country. The
independent business includes restaurants, saloons, and grocery stores in the local market.
Social good ventures- The social good ventures are the business organization which is
basically formed with the motive of doing socially good to the people (De Vries, et. al.,
2017). The social good ventures are generally non-profit organisation which has no motive of
profit maximisation. These businesses focus on helping and doing socially good to the
people.
Typology of the entrepreneurship
Owner- Owner is the person having his own business the owner is one who manages and
owns the company effectively. Their main motive is to maximise the profit.
Intrapreneur- Intrapreneur is a person who does not work in the entrepreneur but owns the
same kind of skills. An Intrapreneur manages the big projects and works with the
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entrepreneurs (Randolph, et. al., 2017). They could be the manager of the project or a
business task.
Social entrepreneur- The social entrepreneur is a person who owns the social good venture.
They work for the country’s and people’s welfare instead of profit maximization.
The relationship between the types of entrepreneurship and different typologies are that this
entrepreneurship gets the correct skills and management of a person on the basis of a
typology of the business (Randolph, et. al., 2017). The business entrepreneurship helps in
providing the skills and knowledge to the people and helps in forming the typology of the
business. The skills and leadership qualities gained from the typology of the entrepreneurship
helps to initiate the business venture type to the person.
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