Entrepreneurship & Small Business Management - Assignment (Doc)
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Added on 2020-07-23
Entrepreneurship & Small Business Management - Assignment (Doc)
Added on 2020-07-23
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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3PART 1............................................................................................................................................3P.1. Different types of entrepreneurship ventures and their relationship with typology ofentrepreneurs...............................................................................................................................3P.2. Different types of entrepreneurial ventures and their similarities and differences..............4P.3. Small and micro venture impact on economy of United Kingdom.....................................6P.4. Importance of small businesses and start-up's.....................................................................7PART 2............................................................................................................................................8P.5. Traits, skills and characteristics of Bill gates and Steve jobs..............................................8P.6. Reflection of aspect of entrepreneurial personalities on motivation and mindset...............9P.7. Examination background and experience that hinder and foster entrepreneurship...........10CONCLUSION .............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONSmall and medium size of business is necessary to manager in the market. Numbers ofSMEs are working in industry and making contribution in order to country's economy support.Beside from it, the assignment will be discussed about small and micro business has made greatimpact upon economic development of the country in respective manner. Furthermore, the reportalso will be discussed about some personality trait, skills, characteristic of Both Bill Gates andSteve Jobs persons' help them to gaining sufficient form of services in the business environment.Background and experiences of Both Bill Gates and Steve Jobs persons' hinder and foster of theirentrepreneurship effectively.PART 1P.1. Different types of entrepreneurship ventures and their relationship with typology ofentrepreneursAn entrepreneur is the person who makes efforts in organising, managing and executingvariety of business activities by taking ample amount of risks. In case of today's world, theentrepreneur has become one of the crucial factors for gaining development of country'seconomy. Entrepreneurial typologies are associated with several types of entrepreneurshipventures in specific country (Von Graevenitz, Harhoff and Weber, 2010). There are several typesof working in the UK who can be classified into male, female, serial, social and scalable. Scalable start-up entrepreneurial venture: Scalable start-ups are those businesses whichconduct motive to establishment of new and innovative ideas or thoughts by which they can meettheir desired goals and objectives to change the world by introducing advanced products. Thesetypes of entrepreneurs are coming in the UK's market serial wise and furnishing variety ofadvanced products as per people's demand.Small business entrepreneurial venture: Small businesses are those which are runningtheir business activities at small and micro level in industry. Small business needs limitedvolume of capital and fewer employees to run it (Stokes, Wilson and Wilson, 2010). So, it alsohas fewer numbers of customers who might be targeted by its owner. Small business can beelectronics book, barber, plumber, consultancy services, etc.Large organisation and ventures:There are large number of organisations and venturesoperating in UK which has potential to generate revenue for the business at broad scale. Ampleamount of capital is needed to run a large scale of business and it also has number of employees
in the firm. In the UK's market, large companies in retail sector are like Tesco, Aldi, Asda, etc.Large organisation is offering a variety of innovative products at broad level which has potentialto generate a large amount of profitability and productivity for the business in order to gainsufficient amount of money that makes contribution of country’s economy.Social entrepreneurial venture: Social entrepreneurial ventures are those which isworking for designing and delivering some essential products and services which has potential tosatisfying people's social needs effectively (Stephan and Uhlaner, 2010). Social workers runningfor their business functionalities not for earning money for profitability, they have major aim forworking to execution of social welfare activities. Ample amount of social entrepreneurialventures are running in UK market which is serving several types of social care services at freeof cost.P.2. Different types of entrepreneurial ventures and their similarities and differencesFrom the above discussion, in UK, there are multiple number of different types ofentrepreneurial ventures running in the market and generating small amount of revenue inmarket. All above mentioned entrepreneurial ventures are working in their specific industries inmarket. So, from the analysis, it has seen that all they have is multiple types of similarities anddifferences which are as follows: Differences:DifferencesLarge scale organisationSmall types entrepreneurial ventures The major difference is that large scaleorganisation needs broad level of capital andnumerous employees to run it in industry in awell manner.Large scale of organisation is followingspecific types of corporate culture tocompletion of their working in a perfectmanner.Small types of entrepreneurial ventures needsmall amount of capital and small numbers ofemployees to running its functionalities (Pottand Pott, 2012).Small types of does not follow a specific wayof working in order to completion of businesstask, they follow random types of culturalapproaches to running business.
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