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Entrepreneurship and Small Business Management: Types of Ventures and their Impact on Economic Growth

   

Added on  2021-01-03

16 Pages4097 Words336 Views
Entrepreneurship
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Entrepreneurship and SmallBusiness Management
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INTRODUCTIONEnterprise led by small business entity. Every large company establish their organisationas a small scale enterprise. In this emerging world everyone wants to set their own businesswhich develops with skills and capabilities in order to remove poverty in country. From thispoint they came up with the idea to set their own business entity at small scale. To start a newbusiness, creative minds plays a vital role in establishing a unique business. As to start businesswith small scale, the entrepreneur set their mind regarding profit basis. For successful business itinitiates time and efforts to form a business and risk are also involved while dealing in market.Report will include the various range of ventures that evaluates the same and differentconcepts with the enterprise ventures. It includes the micro business impact on the economy.Further it includes various aspects of enterprise personality to reflect the motivation and mindsetof entrepreneurial. Lastly the report ends with evaluating the different environment aspects thataffects the entrepreneurship.LO1 Illustrating the range of Ventures type P1 Various types of enterprise ventures and its relation to typology of entrepreneurship.Enterprise means acting or creating a company to set up their business entity in theemerging market. Thus, business are not only set up they are developed, organized and managedto face risk with their competitors. Thus, the difference between serial entrepreneurs,entrepreneur and owners and mangers are as serial entrepreneurs are such entrepreneurshipwhich comes up with different ideas and then start their business with such ideas. E.g. Donaldtrump which changes the working of country with their innovative thought and ideas.Intrapreneurship is somehow related to entrepreneurs but they mainly focused on largeorganisation e.g. Facebook which is the best example. Owners and managers means person whoplays an important role as owners gives instruction which the managers of the company had tofollow. E.g. Their management and leadership style to trained the employees. There are mainlydifferent types of entrepreneurial ventures such as ~Existing Ventures: Mostly individual itself establish a small business entrepreneur andto survive in the country they establish a small business. In this type of business it is notregistered under the companies Act. Also, they have no premises to expand such business(Management – Entrepreneurship & Small Business management, 2019). They have few1
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