logo

Entrepreneurship and Small Business Management | Small-business effect on economy

   

Added on  2020-06-06

14 Pages4467 Words45 Views
Entrepreneurship and SmallBusiness Management(opportunities towards smallbusiness post Brexit)
Entrepreneurship and Small Business Management | Small-business effect on economy_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Entrepreneurial venture and its relation with different typologies of entrepreneurship .....1P2 Similarities and differences of various entrepreneurial ventures...........................................3TASK 2 .........................................................................................................................................5P3 Assessment and interpretation of data to analyse micro and small-business impact on theeconomy......................................................................................................................................5P4 Importance of small-business or start up in social economy after Brexit..............................6TASK 3............................................................................................................................................8P5 Determination of characteristic, traits and skills of successful entrepreneurs.......................8P6 Identify various aspects of entrepreneurial personality.........................................................9TASK 4 .........................................................................................................................................10P7 Background and experience that can foster entrepreneurship.............................................10CONCLUSION..............................................................................................................................10REFERENCES .............................................................................................................................11
Entrepreneurship and Small Business Management | Small-business effect on economy_2
INTRODUCTIONEntrepreneurship is simply a process through which entrepreneur comes in market it isthe entire process of launching, designing and running a venture. Main objective of these are togenerate more and more revenue with minimum utilisation of resources. Entrepreneur are therisk taker and they come with new innovative ideas and creativity (Ackermann, 2012). Thisassignment discuss on Brexit which gives impression of dividation taken by Britain fromEuropean Union. Below mention report explain various types of entrepreneurial venture andtheir relation with different typologies along with this similarities and differences of severalentrepreneurial ventures.In this construe related information for examine micro and small-business effect on economy or their effort in social economies after Brexit. Some characteristics,attribute and skills of businessperson will be discussed here. In the last it also discussbackground and experience that can foster entrepreneurship.TASK 1 P1. Entrepreneurial venture and its relation with different typologies of entrepreneurship Entrepreneurial ventures are known as are the firm which comes with new innovation,ideas, creativity and several opportunities. This also help in economic development as well assatisfy customers with goods and services served by them.Entrepreneur are the person who comes with new innovation and latest products inmarket. They are the risk taker and converter of raw material into finished goods. Resources canbe land, manpower, capital and finance these should be manage in effective manner so thatorganisation can achieve their goal and objective this will result in generating revenue. Below mention are some keys entrepreneurial ventures likes are as follows:-Small business entrepreneurship: this is an small organisation where an individual ortwo person come with an idea to start their own business. Main motive to start these to rise theirown as well as their family members living standards and also for earning profit. Small businessmainly includes bakery shop, general stores, travel agency, saloon and parlour etc. as per thecurrent data of United Kingdom there are 5.7 million small business (Blackburn and Hart, 2013).For starting these kind of business entrepreneur take funds and money from their bank, familyand family. Staff working in these enterprises are mostly family member of owner so that moneydon't go out and they increase life style of their own family members.1
Entrepreneurship and Small Business Management | Small-business effect on economy_3
Large scale enterprises: these kind of organisation run at large level and having manyemployees for meeting day to day activities of company. Such kind of organisation have theirproduct life cycle that is introduction, growth, maturity and the last is decline. They require moreand more innovation in products when they are at decline stage. They come with creativity andnew products in market.Start-ups: in this an individual come with new ideas and innovation in market by thethough of changing world and earning more and more profit (Bridge and O'Neill, 2012). Theyneed investment for growth of their business so for this, entrepreneur attract investors as much asthey can for investment purpose by their innovative product. For running business they hireemployees who are capable and having ability, skills, knowledge to perform work required forachieving goal and objectives.Social enterprise: these type of organisation are fulfil social needs of society as well ofindividual also. They do market research for analysing needs, want of customers and currentmarket trends so that they can fulfil all these requirement. Relation with typologies of entrepreneurshipThere are various types of entrepreneurs and they have relations with typologies are explainedbelow:-Female entrepreneurs: these kind of enterprises are run by female because they havecapabilities of risk taking and decision making. She is the owner of such organisations and theonly lady who manage entire workforce. Best example of such is Oprah Winfrey she is theowner of film production company. There are many females who have their own successfulcompany.Serial entrepreneur: when individual comes with new ideas and innovation in marketfor starting a new business (Bruton, 2010). Serial entrepreneur are the one who takeresponsibilities for starting a business and then afterwards handover this to someone else. Thistype of person then move towards the next venture and main motive of these are to start newbusiness by innovative ideas and then handover this to other persons. Andreas von Bechtolsheim,he is the founder of Sun Microsystem after establishing this they leave it for new companyGranite system after this also they move to other ventures for bringing new ideas in market.Social entrepreneurs: social factors includes education, health, environment andenterprise development many more. They generally work on these kind of elements for economic2
Entrepreneurship and Small Business Management | Small-business effect on economy_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurship and Small Business Management Post Brexit for UK
|15
|4648
|31

[DOC] Entrepreneurship and Small Business Management Assignment Sample
|17
|4966
|91

Entrepreneurship Typology and Small Business Management.
|15
|4450
|391

Entrepreneurship and Small Business Management Assignment Solved
|15
|4702
|74

Impact of Micro and Small-business on UK economy : Assignment
|20
|6003
|95

Impact of micro and small scale entrepreneurial ventures on the growth of social economy
|14
|4701
|304