Entrepreneurship and Small Business Management

This presentation provides an introduction to entrepreneurship and its role in developing enterprises. It discusses the types of entrepreneurial ventures and their relation with typologies of entrepreneurship. It also explores the similarities and differences between different entrepreneurial ventures. The presentation concludes with a discussion on the structure and goals of different types of entrepreneurial ventures.

ENTREPRENEURSHIP AND SMALL
BUSINESS MANAGEMENT

INTRODUCTION
Entrepreneurship can be referred as the act of developing the enterprise or business with the aim of
generating the more profit. It can also be mean as to transform the world or solving the problem of the
world by building the enterprise with innovative ideas.

 Types of entrepreneurial
 Life style Venture: These are the firm which is being created by the individual with the aim
of altering the personal lifestyle of the people and society.
 Growth firms: Growth firm being considered as the firm which are growing faster than their
peer or competitors and contribute a lot to the growth of the economic development
 Survival firm: Survival firm can be referred as the small firm of the market which usually
survive in the market and suffer to grow and become sustain the market place
P 1 Types of entrepreneurial ventures and there
relation with typologies of entrepreneurship

 Typologies of entrepreneurship
Small business entrepreneurship: These are those kinds of the enterprises that are being drive with
the aim of only to run their family and to support their family. These enterprises are not run with the
objective to earn profit.
Scalable entrepreneurship: These enterprises are being started with the aim to change the world with
their vision and mission, they also believe that their vision can change the thinking of the world people.
Large company entrepreneurship: These kinds of the enterprise are being started with the aim of
innovative ideas to be sustained in the market for longer time. They always develop new products in
order to meet the changing customers need or buying behaviour..
Social entrepreneurship: These social enterprises are those kind of the enterprises which are being
started with the aim to solve the social needs and requirements of the people these are founded with the
goal to make the world better not to earn or generate more profit. Examples of the social
entrepreneurship are medical tools or clinics etc

Factors Small business Scalable startup Large company Social
entrepreneurship
Goals and objectives These
organizations
might not have
structured goals
and objects and
works on
achieving lesser
profitability &
growth.
These types of
organisations
aims to provide
innovative
products
constantly and
achieve high
profitability for
investors
These
organizations aim
to sustain in the
market by
developing new
products or
services and
marketing
strategies
These
organisations aim
to provide quality
products or
services to make
the world a better
place.
Risk Low risk but high
competition
The risks are high
due to high
amount of
financial
investment and
pressure to return
high amount to the
investors by
achieving high
sales volume
The risks are
medium because
large businesses
often manage to
sell high volume
due to their brand
value
The risks are not
much high
because, these
businesses often
get support from
government and
public due to their
vision.
Number of employees Employees are
not more than 50
Depends on
structure and size
Employees can be
more than 1000.
Depends on the
size of the
business
P 2 Similarities and differences between different entrepreneurial
venture

Structure Often run with sole
proprietorship and does
not have proper
organisational structure
Mainly
corporations or
limited
partnerships
These types of
organisations have
complex structure and it
can private limited or
public limited company.
Mainly trustee
based
organizations

 In Public sector:
 The public sector organisations are controlled by government legitimately. The administration
contributes higher sum on those associations and distinctive private associations give vital
assistance to those. These sorts of associations have foundation in various segments and plans to
give quality products or services to the customers. These associations don't stress on productivity
instead of social welfare and improvement.
 In private area:
 These kind of associations run secretly and can be possessed by people or then again open.
These associations create advertising techniques to give quality items or administrations to
clients to upgrade their benefit and life span of the associations. Numerous huge associations,
adaptable enterprise are related with private sector or divisions that concentrate on sustainable
advancement by concentrating on its rivals and creating methodologies to increase competitive
advantage
Continue

 Zacca, R., Dayan, M. and Ahrens, T., 2015. Impact of
network capability on small business
performance. Management Decision. 53(1). pp.2-23.
 Kuratko, D.F. and Morris, M.H., 2018. Examining the
future trajectory of entrepreneurship. Journal of Small
Business Management. 56(1). pp.11-23.
REFERENCES

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