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ENTREPRENEURSHIP AND SOME BUSINESS MANAGEMENT INTRODUCTION

   

Added on  2020-06-06

12 Pages3385 Words176 Views
Leadership ManagementEntrepreneurshipProfessional DevelopmentPolitical Science
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ENTREPRENEURSHIP ANDSMALL BUSINESSMANAGEMENT
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Examine different types of entrepreneurial ventures and their relationship with typology .1P2. Similarities and differences between social and lifestyle entrepreneurship .......................2TASK 2...........................................................................................................................................3P3. Interpret and assess relevant data and statistics to illustrate impact of SME's on UKeconomy......................................................................................................................................3P4. Explain the importance of SME's and business start ups to the growth of social economy 4TASK 3............................................................................................................................................4P5. Determine characteristics traits and skills of Entrepreneurs.................................................4P6. Assess aspects of entrepreneurial personality of entrepreneur reflecting motivation andmindset........................................................................................................................................4TASK 4............................................................................................................................................4P7. Examine background and experience that can hinder or foster entrepreneurship ...............4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................5
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INTRODUCTIONEntrepreneurship is a action that aims in carrying out business operations in profitableand productive manner. They focus on coming up with innovative and advanced thinkingprocess. This report focus on different types of entrepreneurial ventures that exist in businessenvironment which is dynamic in nature. Small scale business plays an important role in thesociety where they are operating as they help in increasing the economy. Moreover, thisassignment highlights the case of Dalian Wanda which is a biggest movie theatre operator andInfosys, global leader in consulting and technology services. These two organisations aredifferent from each other on various grounds one is public sector and other is functioningprivately. There are certain skills that should be posses by entrepreneurs to grow continuously incurrent business environment. This report also underline the several environmental factors thateither foster or hinder the working of firm hence, it become essential to consider all theseelements in framing policy and regulations. TASK 1P1. Examine different types of entrepreneurial ventures and their relationship with typology Entrepreneurial ventures refers to setting up of business institution with an aim offulfilling certain objectives and targets. Every business is establish to earn huge financial gainsand goodwill in the market where they are operating (Ackermann, S.J. ed., 2012). These venturesare constructed by an entrepreneurs who come up with new and fresh ideas or thoughts. Theygather various resources to run their business which include land, labour, capital, finance etc. There are diverse types of entrepreneurial ventures that are mentioned below: Public Sector organisation: Infosys is a IT company rendering services over nation. It isdifferent from private sector organisation on various areas. Its operations in under thegovernment control. All rules and regulations are forced by government body and has to befollowed properly. Their basic objective involve serving people of society by supplying themquality services. Private Sector organisation: This refers to the institution which is privately owned bysome individuals. Their primary motive to earn maximum outcome in particular time period.They have their own rules and regulations (Schaltegger, and Wagner, 2011). Wanda group is a
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privately owned company operating in various sectors like entertainment, construction, mediaand many more( Blackburn, Hart, and Wainwright, 2013). Social entrepreneurs: These refers to establishments that focus on increasing the statusof society by providing them services that leads to upliftment of standard of living of people.They do not work on no profit no loss concept. It include all non cooperative society establishedin business environment (Preuss, 2011). Relationship between entrepreneurship and topology: there are numerous typology which is related with entrepreneurs:Serial entrepreneurship: This refers to business organisation that is carried out by oneperson or individual. He have to carry out all transactions and operations related to business. Female entrepreneurship: This include, females who are in business world and havetheir own ventures which are running successfully. They work like businessman that carry out allwork involving various type of risks (Schaper, 2014). P2. Similarities and differences between social and lifestyle entrepreneurship There are number of similar and distinctive features of business organisations that areoperating in society. Social entrepreneurship Lifestyle Entrepreneurship Similarities Similarities This type of business concern is run toprovide quality services to the peopleliving in society so that they can createhealthy and conducive livingenvironment(Nga,andShamuganathan, 2010). They always aim in satisfying needsand wants of people by providing themproducts and services of theirrequirements. They also focus on introducing somenew and innovative things so that theycan attract huge number of people inthe market area and satisfy their neverending wants. Differences Differences It only concentrate on issues that ariseIt is differentiated on various grounds
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