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Entrepreneurship and Small Business Management Types- Doc

   

Added on  2020-10-23

15 Pages4012 Words474 Views
Entrepreneurship
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Entrepreneurship andSmall BusinessManagement
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INTRODUCTIONEntrepreneurship defines as the procedure of developing a new enterprise with an aim ofprofit maximisation. An entrepreneur is a person who develops an idea and sets up the concernand succeeds the enterprise (Ahmad, 2015). Entrepreneur in order to get success must worktowards analysing the needs of customers.This report is based upon entrepreneurship and small business management. Firstly it isvery important to analyse about the relationship between entreprenuership and various typologiesrelated to it.Further more study of this will help to know about the factors that helps in achievingof the goals and motivating the individualsTASK 1P1) Types of Entrepreneurial ventures and their relationship with typology of EntrepreneurshipEntrepreneurship refers to the procedure of launching the business and creating the needsof customers. Entrepreneur defines as the individual who creates business by taking risk with aaim of earning a profit. They plays a key role in an economy. The four type of entrepreneurialventure is explained below:Small business entrepreneurship: It defines to the a concern in which small number ofworker are working and are operate privately. The employees working in small businessare very less and are having minimum amount of sales. These are held by soleproprietorship with the aim of fulfilling the basic needs.Scaleable Enterprise: It defines as the business which are developed with the purpose ofcreating a change in the world. Innovation plays a important role in creation of thisenterprise as it attract more customers which in turn help in the profitability of theconcern. Some of the example of this enterprise are Facebook, twitter. Large company: It defines as the business in which large number of employs areworking. They have large infrastructure and create more job opportunities. There scale ofoperation is also very large. The main purpose of such type of company is to adoptadvance terotechnology so that they can capture large area of market. Social enterprise: It refers to the business whose main aim is satisfying the needs of thecustomers. The major motive of such type of enterprise is to develop a better world andwork towards the betterment of society. 1
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