Entrepreneurship and Small Business Management INTRODUCTION 1 ACTIVITY 1 P1. Types of entrepreneurial ventures
Added on 2020-10-04
14 Pages3971 Words62 Views
EntrepreneurshipStatistics and Probability
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Entrepreneurship and smallbusiness management
Table of ContentsINTRODUCTION...........................................................................................................................1ACTIVITY 1....................................................................................................................................1P1. Types of entrepreneurial ventures.........................................................................................1P2. Differences and similarities among the various entrepreneurial ventures............................2M1. Investigate and demonstrate the entrepreneurial ventures for public and corporate sectororganisation.................................................................................................................................3D1.The growth development and scope of the entrepreneurial ventures....................................4P3. Impact of Micro and small business on economy.................................................................4M2. How small, medium and large business make economy of united kingdom......................5P4. Importance of small business and business starts-up in the growth of the social economy.5D2. impact of small business on different level economy..........................................................6ACTIVITY 2....................................................................................................................................6P5. Characteristics traits and skills of successful entrepreneurs that differentiate them fromothers...........................................................................................................................................6P6. Assessment of entrepreneurial personality aspects that reflect their motivation and mindset.....................................................................................................................................................7M3. examine and explore the different types of arguments relating to entrepreneurialcharacteristic...............................................................................................................................7D3. Analysis of skills, characteristics, traits and motivational drivers so as to be successful....7P7. Examination of background and experience that may hinder or foster entrepreneurship....8M4. Analysis of link between entrepreneurial characteristics and its influence on personalbackground..................................................................................................................................8D4. How experience and background influence entrepreneurs both positively and negatively.9CONCLUSION................................................................................................................................9REFERENCES .............................................................................................................................10
INTRODUCTIONEntrepreneurship can be defined as process of designing and launching a new business inthe market place. Entrepreneurship plays an important role in developing new idea andopportunities in the business for achieving desired level results of the enterprise(Julien, 2018).This report present the various types of entrepreneur ventures and evaluates how they are relatedto the entrepreneur typology's. This study also defines the similarities and differences betweenvarious entrepreneur ventures. It also explains the importance of the small business as well asstart up business in the growth of economy. In this we also determine the characteristic and skillsof successful entrepreneur which are different from other business manager such as bill gates andAlan sugar. This study also presents that how the entrepreneur personality aspect reflectentrepreneur mind set and motivation.ACTIVITY 1P1. Types of entrepreneurial venturesEntrepreneurial ventures includes various business such as small, medium and largeentrepreneurial ventures and their aims are differentiated from each other. Small entrepreneurial ventureSmall business refers to the services or the retail operations which involves general store,bakery and medical stores which are owned independently and it requires less workforce and lesscapital investment. It provides goods and services directly to their local communities(Kirzner,2015). Medium entrepreneurial ventureMedium business includes the few numbers of the employees which are not more than100. This type of business generally produce the products which are already introduced by theanother organisations. The aim of this types business is to gain limited level of profit throughproviding goods and services to their local consumers.Large entrepreneurial venture This type of business refers to the organisation which operates high level of operationsand production activity to increase their profitability. The main objective of this type business isto maximise their profitability as well as their global expansion in the global market. It considersmore than 500 employees in their organisation(Burns and Dewhurst, 2016).1
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