Entrepreneurship And Small Business Management : Assignment Sample

ENTREPRENEURSHIP AND SMALL
BUSINESS
MANAGEMENT
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Table of Content
Cover Page.......................................................................................................................................1
Introduction.....................................................................................................................................3
P1 Examine different types of entrepreneurial ventures and explain how they relate to the typology
of entrepreneurship...........................................................................................................................3
P2 Explore the similarities and differences between entrepreneurial ventures...................4
M1 Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of
entrepreneurship in both the public and corporate sector......................................................6
P3 Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy................................................................................................................7
P4 Explain the importance of small businesses and business start-ups to the growth of the social
economy.........................................................................................................................................7
M2 Evaluate the differences small, medium and large businesses make to the economy, applying
relevant data and statistics.........................................................................................................8
D2 Critically examine how small businesses have an impact on different levels of the economy (local,
regional, national) and in an international context) ...............................................................8
D3 Determine the characteristic traits and skills of successful entrepreneurs that differentiate them
from other business managers....................................................................................................8
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Introduction
Enterprise is the way to establish a company by looking at various risks, including financial and
organizational perceived risk. Business ventures can always have different bodies of control, so
business owners really have to build and maintain a particular know-how and characteristics.
Experience and professional background can affect enterprise, which can promote or impede a
company. The research would concentrate on different types of business entities, their economic
implications. Throughout tandem with the ways experience and personal history may shape start-up
entrepreneurship, the abilities and mind-sets necessary to set up a company will indeed be created.
(Burns 2016)
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.
Small Business Entrepreneurship
The holders may manage such start-ups only, as well as the number of workers is quite small. In
fact, there is not much revenue raising and all these companies are actively concentrating on
growing customer base and expanding their goods or services. The whole business sort can indeed
be managed as a partner with family and friends. Nevertheless, many small companies deliver
creative and exponentially growing goods or services. (Burns 2016)
Scalable start-up entrepreneurship
Such companies start company with creative ideas and concentrated on developing
revolutionary goods or services from the outset. Some forms of businessmen claim their inventions
will change the world and search to imperialist funding. We are searching for the best brain for the
enterprise and tend to develop a flexible business model. (Burns 2016)
Large company entrepreneurship
The large businesses have an endless life cycle and are geared towards giving revolutionary
profits and survivability products and services to buyers. Purchaser thirst, trends and prices have
evolved progressively with large businesses in the innovation and creation of new product lines over
a whole growing market. The large size of the organization makes creating difficult. (Burns 2016)
Social entrepreneurship
This form of company is focused on solving various social issues through the delivery of its
products or services. The company seeks to build a better world for humanity and can be
competitive, non-profit and combination. (Burns 2016)
Like everything else, there are also drawbacks of entrepreneurship. The inconvenience of
becoming an entrepreneur comes in its threats. In essence, an individual who became an
entrepreneur is basically a gambler. They strive to do anything which has not been done beforehand
and use their own resources or support that they might collect from everyone to attempt to achieve
that aim. (Burns 2016)
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