P6. Reflect entrepreneurial motivation and mindset
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Added on 2021-01-02
P6. Reflect entrepreneurial motivation and mindset
Added on 2021-01-02
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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4P1 Different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurship.....................................................................................................................4P2 Similarities and differences between entrepreneurial ventures.........................................6M1. Demonstrate an understanding of entrepreneurship in both public and corporate sector9D1. Examine the scope, development and growth of entrepreneurial venture.....................10TASK 2..........................................................................................................................................10P3. Illustrate how micro and small business impact on economy........................................10P4. Explain important small business and business start – ups will contribute of growth ofsocial economy after ‘Brexit’...............................................................................................11M2. Evaluate the differences that small, medium and large businesses make to the economy,applying relevant data and statistics.....................................................................................12D2. Critically examine how small businesses have an impact on different levels of theeconomy in a local, regional, national and international context.........................................12TASK 3..........................................................................................................................................13P5. Determine characteristics, traits and skills of two successful entrepreneurs whichdifferentiate them from other business managers.................................................................13P6. Reflect entrepreneurial motivation and mindset............................................................15M3. Explore and examine different lines of argument relating to entrepreneurialcharacteristics.......................................................................................................................15D3. Analyse the characteristic traits, skills and motivational drivers of successfulentrepreneurs, supported by specific examples....................................................................16P7 Examine how background and experience can hinder or foster entrepreneurship..........16M4. Analyse the link between entrepreneurial characteristics and the influence of personalbackground and experience to specific successful entrepreneurs........................................17
D4. Critically evaluate how background and experience influences entrepreneurs, bothpositively and negatively, by comparing and contrasting examples....................................17CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19
INTRODUCTIONEntrepreneurship is a process of designing through which company launch and run a newbusiness which can be small during initial years. Whereas in terms of entrepreneurs they mostlydevelops new and innovative ideas so that services and facilities can be provided to its clients ina better manner. In this present report, different kinds of entrepreneurial ventures in includedalong with its relation with various typologies. Apart form this, similarities and differences ofentrepreneurial ventures is mentioned so as to understand entrepreneurship in a better manner.Lastly, scope, development and growth which is seen in entrepreneurial ventures are mentionedin this assignment. TASK 1P1 Different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurshipAn entrepreneur are more like people who love to work alone with their innovative ideasinstead of working under an organisation. Mostly, they open their small business and play acrucial role in enhancing the income or GDP of a nation. Thus, it can be said that entrepreneur sobusiness in order to pursue their opportunities that are available in the market. There are differentkinds of ventures that works in various sectors whether small, medium or large and some of themare explained below for better understanding:Entrepreneurial venture:Small business entrepreneurship: There is an increase in sole traders and SMEs inUnited Kingdom. Even large business are reducing its size of business and around 23 millioncompanies has established in United Kingdom between April 2016 and April 2017, which isbetter than previous years. Small business entrepreneurship are owned by an individualindependently and playing their crucial role in increasing nation's economy. According to a studyit has been analysed that size of small business has increased to approximately 5.7 million.Majorly, these companies are operated so as to feed family members as their profit margin isrelatively low. Scalable Start-ups Entrepreneurship: People who are doing these kind of businesshave their own observation and perform their activity to change the world for a better living.Scalable entrepreneurs have different vision and through this, they try to attract a large number
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