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Entrepreneurship and Small Business Management Report (DOC)

   

Added on  2020-06-04

13 Pages3916 Words34 Views
Entrepreneurship and SmallBusiness Management

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different entrepreneurial ventures and their relation to typology..........................................1P2 Similarities and differences between entrepreneurial ventures..............................................2P3 Micro and small businesses impact on the economy..............................................................3P4 Contribution of small businesses and start-ups on social growth...........................................4TASK 2............................................................................................................................................5P5 Traits and skills of successful entrepreneurs..........................................................................5P6 Aspects of entrepreneurial personality...................................................................................7P7 Ways in which background and experience hinder and foster entrepreneurship...................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONEntrepreneurs are person who are ready to take risk, make appropriate plan and executebusiness at small level. In market, recently large numbers of start-ups are established which isdue to increasing number of young business people. Individual establish new venture when theyhave new and unique ideas; thereby deliver adequate items and services in marketplace to fulfilneeds and wants of people (Burns, 2016). So, entrepreneurship is activity which is directlyassociated with innovation. Present report is based on Wiser, which is small firm that providerecruitment consultancy services to customers. This assignment specifies various kinds ofentrepreneurial ventures which exist in market. These are organisation which has certainsimilarities and difficulties which are discussed in report. Small firms help government todevelop country’s economy. For establishing new firm, entrepreneurs require to have adequateskills and experience; so that business activities are conducted effectively. TASK 1P1 Different entrepreneurial ventures and their relation to typologyThere are various entrepreneurial ventures which are running their business. They carry outactivities, so that they can earn more profits. Through this they can maintain good image inmarket as well as customers and they can also give strong competition to other firms. Various entrepreneurial ventures are-Small business entrepreneurship: It is carried by single person whose main objective isto earn more profits. Examples can be carpenters, consultants, stores such as grocery etc. Familyplays an important role in the firm as they fulfil needs and wants of all family members.It has a relation with survival venture of typology of entrepreneurship. They work as anindependent unit and they do not depend on other firms (Fayolle and Gailly, 2015). They dependon trust on both parties. Their risk is related with themselves and they need many cash to survivein market as well to run their business. Scalable start- up entrepreneurship: Many firms want to invest in this venture and theyinvest huge funds in these ventures. Their main mission and vision is to create a something newand innovative for society. They are operating in a unique and distinct manner so hence theycan run their business in effective and efficient manner. In a particular state some people are1

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