Limited-time offer! Save up to 50% Off | Solutions starting at $6 each  

Entrepreneurship and Small Business Management Traits PDF

Added on - 08 Dec 2020

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 4 of 13 pages
Entrepreneurship andSmall BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................2TASK 1............................................................................................................................................2P1: Different types of Entrepreneurial Ventures and their relation with typologies ofEntrepreneurship.........................................................................................................................2P2: Similarities and Differences Between Entrepreneurial Ventures.........................................3TASK 2............................................................................................................................................4P3: Impact of Small and Micro Enterprises on Economy of UK................................................4P4: Importance of Small Businesses and Business Start-ups on Economy................................6TASK 3............................................................................................................................................6P5: Traits and Characteristics of different successful entrepreneurs and their difference withBusiness Managers......................................................................................................................6P6: Aspects of Entrepreneurial Personality reflect entrepreneurial motivation and mindset.....8TASK 4............................................................................................................................................9P7: Relevant examples showcasing the background and experience on hinder or fosterentrepreneurship..........................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................101
INTRODUCTIONEntrepreneurship refers to the process of managing and operating a small businessaccepting all the risks and rewards attach to it. The variability of risks increase as the businessexpand, but, entrepreneur accepts the risk in order to maximise their profits. Entrepreneur is theperson who is the owner of enterprise and work to bring out the creativity and innovation in themarket to create a market share for the business(Abebe, 2014). There are various types ofventures depending upon the scale of operations as the business expands size of operationsincrease which establish a relation between various ventures and topologies of business.TASK 1P1: Different types of Entrepreneurial Ventures and their relation with typologies ofEntrepreneurshipThe abilities of a person in creating and developing a business out of its creativity andinnovation such that to earn profits(Burrows, 2015). The person managing the business is knownas Entrepreneur and the business is known as enterprise. There are several types of enterprises,some of them are:Small Enterprise: These are the businesses who operates on small scale and there isusually one owner and employees are mostly family members or relatives. Theseenterprises generate profit enough to meet up with day to day expenses. Example of theseenterprises are grocery stores, consultants, etc.Scalable Enterprise:These are the businesses where entrepreneur believes that there ideacan change the world. These enterprises receive the funding from different venturecapitalists and end up hiring the qualified staff in order to grow the business. Example ofthese enterprises are Facebook, Amazon, etc.Large enterprises: These enterprises other than bringing out innovation in their work,also, try to create new products in order to meet the changing preferences of customers.These organisations try to bring out creativity and are always under pressure to createbetter. Examples of these enterprises are Samsung, Apple, etc.Social Enterprises: The aim of these organisations is to provide something to the peoplein need instead of earning profits. The product and services offered by these enterprises2
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document