[PDF] Entrepreneurship and Small Business Management | Assignment Solution

Added on - 21 Feb 2021

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Entrepreneurship andsmall businessmanagementMake it Work
P1 Different types of entrepreneurial venture and how they related to the typology................................................................................................................................................................3P2 Evaluate similarities as well as difference of between entrepreneurial venture....................................................................................................................................................................4M1 Investigate the range of entrepreneurial ventures for the understanding of public or corporate sector....................................................................................................................5D1 Critically examine the scope, growth and development of entrepreneurial venture............................................................................................................................................................5P3 Impact of micro or small business on economy....................................................................................................................................................................................................................................5Above mention chart represent that, how different business ventures affected due to recessions duration. It clearly shows that, large organization affect the mostand it will affect their productivity as well as profit margin..........................................................................................................................................................................................................6P4 Importance of small business & start-up for the social economy growth..................................................................................................................................................................................6M2 Difference between small, medium and large business organization.........................................................................................................................................................................................7D2 Critically evaluate that how small organization affect the different level of economy such as local, regional or national....................................................................................7
ACTIVITY 1P1 Different types of entrepreneurial venture and how theyrelated to the typologyThere are different types of entrepreneurship which havemain purpose to achieve high market growth along with profitmargin and it is discussed below:Small business entrepreneurship: This type ofentrepreneurship means, individual perform their task withlimited resources and it is privately owned company such assole proprietor, partnership etc. Here all the decision andstrategy developed by the single person and this type of ventureoffer product and services to their clients.Scalable start-up entrepreneurship: This type ofventure based on innovative or creative ideas and they succeedin their business through applying business models for futuregrowth. This type of organization has main objective is tobecome large corporation and capture huge market share.Large company entrepreneurship: Under this venture,organization introduce new product in the large market in orderto capture huge customer and they have enough resources toimplement their plans. Large business venture develop productas per the customer's requirement in order to develop their trustand retain for the longer period.Social entrepreneurship: This venture develops to satisfy socialneed and desires. Here, entrepreneur introduce such products & serviceswhich generate willing power in the society to buy. It has mainobjectives is to develop economy of scale and provide overall growth.Above mention entrepreneurship have different objectives, soentrepreneur need to analyses their requirement and then decide whichone they wanted to start.Types of typology entrepreneurship:Typology entrepreneurship is the type of cluster analysis whichbased on the entrepreneur and their motivation. behavior, attitude etc. Itis totally linked with the above entrepreneurial business and it isdiscussed below:Male: This type of business operated by only man and they thinkthat, they are more powerful and capable to handle the situation or ableto run business in more effective way rather than others. All theauthoritative position and decision making power done by the maleemployees.Female: In this type of typology, decision making authority havein female’s hand and other strategy formulation power too. Females havemore power in comparison to male employees.Managed growth:This type of typology, decision makingpower have in hands of authoritative person or it can be male or female.Entrepreneur take suggestion from workers without any discriminationand then implement is any beneficial for the business.5
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