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

Entrepreneurship and Small Business Management - Assignment (pdf)

Added on - 22 Nov 2020

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 4 of 17 pages
Entrepreneurship and smallBusiness management
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1...........................................................................................................................................3P1 Analyse different types of entrepreneurial venture and their relationship with typology ofentrepreneurship.....................................................................................................................3P2 Find out similarities and difference between entrepreneurial ventures............................5TASK 2............................................................................................................................................6P3 How small and start-up businesses impact the economy..................................................6P4 Explain the contribution of small business and start up in boosting social economy afterBrexit......................................................................................................................................8TASK 3...........................................................................................................................................9P5 How characteristic and skills of two blooming entrepreneur differentiate them from themanagers.................................................................................................................................9TASK 4.........................................................................................................................................10P6 Aspects of entrepreneurial personality that reflect entrepreneurial motivation and mindset..............................................................................................................................................10P7 How background or experience motivate individual for entrepreneurship.....................12CONCLUSION..............................................................................................................................13REFERENCES.............................................................................................................................15
INTRODUCTIONEntrepreneurship is the essential part of the society as it helps nation to progress oneconomical and social grounds. It helps to provide more employment opportunities, increasevarieties of product and contribution to the gross national product. Entrepreneur is the personwho take risk in implementing a new venture. Entrepreneurship is the process of creatingsomething new through time and effort after estimating the financial and social risk. In thisreport there is a discussion about the entrepreneurial ventures and their relation with differenttypology of entrepreneurship (Preuss, 2011). There are several similarities and dissimilaritiesbetween various entrepreneurial venture which are described below. Moreover, it inform aboutthe small business and start-up contribution in the development of economy after the Brexit. Itdescribe how entrepreneur qualities have the capability to guide other individual of the nation.Along with this it also highlight two successful entrepreneur skills and characteristics and theirbackground which put a bases for them.TASK 1P1 Analyse different types of entrepreneurial venture and their relationship with typology ofentrepreneurship.Entrepreneur :Entrepreneur is an individual who starts his own business rather thanworking as an employee after assuming all risk and rewards related to venture.Entrepreneurship :It the process of recognising and developing a opportunity andexamine in the market and collect the resources needed to carry out enterprise activity.Entrepreneurial venture :It is the business which individual begin in order to create jobfor themselves and others. Owner of these ventures aim is to innovate and create value for thecustomer. These ventures taken place in the form of innovation and experiment to produce aeconomic value (Scarborough, 2016).Types of entrepreneurial venture are described briefly below :Small business entrepreneurship :These are those business which are started on asmall scale by taking money from friends, relatives or any financial institution. There are varioustrade which come under this category like hairdresser, travel agent, electrician, carpenter and soon. They want to earn a profit so that they can provide food to their family members. They have
no wish to takeover industry or to build a $200 million business. They generally hire local peopleor family members for their work.Large scale entrepreneurship :These entrepreneur possess the finance to develop andimplement new technical changes .They survive for a longer period in the society because oftheir continuous innovation and making changes in their product. There are various factors whichcreate pressure on them to do continuous innovation like change in customer taste and demandsand new competitors who bring new technologies in the market. Continuously bring change isvery difficult for a large scale company (Storey, 2017).Social entrepreneurship :Social entrepreneurs are the innovator of the society who aimis to create such product which can solve problems of society people. By their product they wantto bring equality in different classes of society. They invented products for the betterment ofsociety not for enhancing their market share or to generate wealth for them.Typology of entrepreneurial venture are described briefly below :Social entrepreneur :The person who engage in the business activity with the aim ofserving society is social entrepreneur. They are the people who start business to provide advancesolution to the social problems like poverty,illness, environmental destruction and corruption inorder to make better life. They play the role of the change agents in the society. Socialentrepreneurs create a different kind of organisation who does not relate with commercial andprofit world.Female entrepreneur :Women entrepreneur main focus is on the economic well beingof the community, poverty reduction and women empowerment. Female entrepreneur adoptfeminist values and thought in their working.Serial entrepreneur :An individual who engage in multiple kind of organisation isserial entrepreneur. These people start continuously new venture and sell off at a later stage toindulge in the creation of another organisation. Serial entrepreneur always come with newthoughts and idea and incorporated it and then give responsibilities and authority to some otherauthority and move to create a new idea and new business (Dennis, 2011).Life style entrepreneur :Lifestyle entrepreneurship is started on the basis of individualpreference, interest and passion which they want to continue. It is an individual who started theirbusiness for the purpose of making alteration in their lifestyle not only making profit.
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