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Entrepreneurship and Small Business Management Type

   

Added on  2020-10-23

15 Pages4719 Words239 Views
Leadership ManagementEntrepreneurshipPolitical Science
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Entrepreneurship and SmallBusiness Management
Entrepreneurship and Small Business Management Type_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Different type of entrepreneurial ventures and relationship of typology ofentrepreneurship.....................................................................................................................3M1 Investigate a diverse range of entrepreneurial ventures to demonstrate and understandingof entrepreneurship In both public and corporate sector .......................................................4P2. Differences and Similarities among entrepreneurial ventures.........................................5M2 Evaluate the key impact that small, medium and large businesses make to the economy ..6TASK 2 ...........................................................................................................................................7P3. Evaluate relevant data and statistics to illustrate how micro and small businesses impacton the economy.......................................................................................................................7P4. Importance of small business and start-up's businesses...................................................8CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................9INTRODUCTION.........................................................................................................................10TASK 3..........................................................................................................................................10P5. Characteristic and Skills for Successful Entrepreneurs. ................................................10P6. Various aspects of entrepreneurial personality. ............................................................11M3 Explore and examine the different lines of argument in the literature relating toentrepreneurial characteristics..............................................................................................13TASK 4..........................................................................................................................................13P7. Background and Experience can hinder or foster Entrepreneurship..............................13M4 Link between entrepreneurial characteristics and the influence of personal backgroundand experience to specific successful entrepreneurs............................................................14CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................14
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INTRODUCTIONEntrepreneur is an individual who is responsible for creation of a unique business bytaking risks and gaining rewards from it. They are person who builds up business for acquiring aprofit and also makes effective contributions in economy of country. This report is based ondifferent entrepreneurial ventures, correspondence as well as distinctness among them.Furthermore, statistics has been used to analyse influence of small and micro firms. Apart fromthis, their significance is illustrated with respect to social economy.TASK 1P1. Different type of entrepreneurial ventures and relationship of typology of entrepreneurship.Entrepreneurial ventures is an important part of an organization as it brings someinnovation as well as opportunities so that company can develop both economic and socialvalues (Ahmad, 2015). There are various types of entrepreneurial ventures which are mentionedas below:-Small business Entrepreneurship:- This is the business where only owner can operateor control the business and also there is an involvement of less number of employees. Themain motive of this type of entrepreneurship is to focuses on providing more innovativeproducts and services at market place. With the help of this, company can attract moreclients and develop their own goods and services in an effective manner. Furthermore,small business entrepreneurship run or operated by friends and family members who actas a partner. Brokers, grocery stores and many more are the examples of theseenterprises. Scalable start up Entrepreneurship:- This type of business starts their work withinnovation which means they focuses on to provide unique or innovative goods andservices at market place (Audretsch and Caiazza, 2016). Along with this, the process ofinnovation has main aim is to satisfying customers through their innovation. Facebook,amazon and so on are the examples of these enterprises. Large company Entrepreneurship:- Samsung, Apple and so on, are the examples ofthese enterprise. This type of enterprise brings some new goods and services at marketplace for attracting more customers and maintaining sustainability for longer time period.
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Along with this enterprise they bring various job opportunities by which individual aswell as economy both are developing in an effective way. Social Entrepreneurship:- The aim of this type of entrepreneurship is to provide goodquality of products and services so that they can solve the social problems effectively.Along with this, social enterprises focuses on satisfying customers need and expectationas comparison to maximising profit (Belz and Binder, 2017). There are some of exampleof social enterprise areHill Holt Wood, Café direct, and many more.Corporate entrepreneurship:- The corporate entrepreneurship can be described as anentrepreneurship inside of an established organisation which is also known as anintrapreneurship. It can be considered as a procedure used to create new businesses,products, services and processes inside of an existing organisation in order develop value& generate fresh revenue growth via entrepreneurial actions as well as thought. Public sector Entrepreneurship:- This can be described as promulgation of aninnovative public policy initiative which are responsible to create higher economicprosperity. It can be done through transforming a status quo economic atmosphere intoone which seems to be more conducive in context of economic units engaging in creativeactivities in the face of uncertainty. Some of the entrepreneurial typologies are given as below:-Sole Traders: In this business, only single person are responsible for managing businessactivities or handling managerial issues in an organisation.Partnership: In this business, two or more than two person operate the whole businessand makes effective decision accordingly.M1 Investigate a diverse range of entrepreneurial ventures to demonstrate and understanding ofentrepreneurship In both public and corporate sector The public sector entrepreneurship is defined as the the declaration of innovative publicpolicy initiatives that generates bigger economic prosperity. The public sector entrepreneurshipaffects the transformation by enhancing the effectiveness of knowledge networks like by increasein economic units (Vilcov, and Dimitrescu, 2015). The public sector organisation results ininnovative activities that includes development of new and existing services, technologies,administrative technologies and improved strategies, productivity and risk taking. On the otherhand, the corporate entrepreneurship is defined as the process of developing new businesses,
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