Entrepreneurship and Small Business Management

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Table of Contents
Introduction:.....................................................................................................................................1
LO1:.................................................................................................................................................1
P1: Explain the different type of entrepreneurial ventures and how they relate to typology of
entrepreneurship:....................................................................................................................1
P2: Examine the similarity and differences among the entrepreneurial ventures:...............2
M1: diverse range of entrepreneurial venture to demonstrate the understanding of
entrepreneurship in both the public and corporate sector:......................................................4
D1: Critically examine the scope , development and growth of entrepreneurial ventures:. .4
LO2:.................................................................................................................................................4
P3: interpret and assess relevant data and statistics to know how micro and small business
impact on economy :..............................................................................................................4
P4: Examine the important of small business and starts-up to the growth of the social
economy:................................................................................................................................5
M2: Evolutes the difference small, medium and large business make to economy:..............6
D2: Critically explain how small business have impact on different levels in economy:......6
LO3:.................................................................................................................................................7
P5: Determine the characteristic traits and skills of successful entrepreneurs:......................7
P6: Assess how aspect of entrepreneurial personality reflect motivation and mindset:.........8
M3: examine different lines of opinion relating to entrepreneurial characteristic:................9
D3:Analyse the skills and motivational drivers of successful entrepreneurs........................9
LO4:.................................................................................................................................................9
P7: Examine how background and experiences can hinder or foster entrepreneurship:........9
M4: Analyse the link between entrepreneurial characteristic and influence of personal
experiences to successful entrepreneurs...............................................................................10
D4: Critically evaluate how background influence the entrepreneurs in positive and negative
ways......................................................................................................................................10
Conclusion:....................................................................................................................................11
References:.....................................................................................................................................12

Introduction:
The entrepreneur is a person who is involved in coming up with new business ideas taking all
risks and enjoying the profits in the market place. he is individual who look after all the
resources and combine them to produce effective goods and services for the organisation and
earn the profits in the long run. Entrepreneurship is a process for production of new commodities
and services thought the enterprise of new venture. Entrepreneur is someone who creates the
unique and different products in the target market to attract more customer for the companies so
that objective of the organisation can be achieved in the long run. Under this report, Morrisons
which is a supermarket in the UK market offering various goods and services to the customer.
further there will be discussion on the impact of small business on the economy and includes
the quality of the successful entrepreneurs in the organisation. (Simatupang and Lantu,2015. )
LO1:
P1: Explain the different type of entrepreneurial ventures and how they relate to typology of
entrepreneurship:
Entrepreneurial ventures refers to business operation which are carried out by the different
entities for the purpose of earning the profits by satisfying the needs and wants of the customer.
these small business helps in development and evaluation of economy as a whole. Three are
various type of entrepreneurial ventures in the market which are stated as below:
Small business entrepreneurship: these are the business which are small in size and scope in
the market and having the little investment and operates at the small scale . these business are
handle by the individual independently with the small capitalization which provide earnings for
survive in present condition in the market places.
Scalable start up entrepreneurship: here the enterprise operates its business at lesser scale as
they are not permissible to work at broad market places. These organisation function under
limited market by having profits from such business.
Larger company entrepreneurship : these organisation are known for providing the new
innovative and effective product and services in the target market places. These enterprisers
have large capital investment and productivity resources which helps them to provide with new
goods and excellent service in the competitive market places.
1