logo

Entrepreneurship & the Small Business Management

   

Added on  2020-06-06

16 Pages4579 Words63 Views
Leadership ManagementEntrepreneurshipProfessional Development
 | 
 | 
 | 
ENTREPRENEURSHIP ANDSMALL BUSINESS MANAGEMENT
Entrepreneurship & the Small Business Management_1

Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1Lo1. Illustrating the range of venture types.....................................................................................1P1 Examining different types of entrepreneurial ventures and with the concept of how theyrelated with typology of entrepreneurship..................................................................................1P2 Exploring the similarities and differences between entrepreneurial ventures.......................3Task 2...............................................................................................................................................4Lo2. Impact of small business on economy.....................................................................................4P3 Illustrating impact of micro and small business on the economy..........................................4P4 importance of contribution to small business and business start-ups on growth of socialeconomy......................................................................................................................................4Task 3...............................................................................................................................................5Lo3. Key aspects of an entrepreneurial mindset..............................................................................5P5 Determining the traits, skills, characteristics of successful entrepreneurs.............................5P6 Aspects of entrepreneurial personality reflect on entrepreneurial mindset and motivation. .7Task 4...............................................................................................................................................9Lo4. Different environments that can hinder or foster entrepreneurship.........................................9P7 Examining how background and experience can hinder entrepreneurship...........................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11APPENDIXES...............................................................................................................................13
Entrepreneurship & the Small Business Management_2

INTRODUCTIONEntrepreneurship is a feature of companies that work on the design, development andmanagement of a small business. Further, it should be mentioned that entrepreneurship plays animportant function in the development of the 21st century. The introduction of entrepreneurshipaims to discuss the importance and role of entrepreneurs in our society. Many countries havesupported entrepreneurship so that they can reduce sustainable poverty and show the results ofbeing effectively recipients of economic growth (Autio et al. 2014).In this context of a discussion, there is all about the summary for discussing the scope ofentrepreneurship and also illustrate the obstacles for start-ups. This task will further discuss therisk/return ratio for starting a new company. It should further be concluded that all discussionsare based on NUJIs (a well-known online company related to daily fashion and lifestyle goodsmanufacturing) entrepreneur’s thought.Task 1Lo1. Illustrating the range of venture typesP1 Examining different types of entrepreneurial ventures and with the concept of how theyrelated with typology of entrepreneurshipThere are mainly four categories of entrepreneurial venture which includesTypes of Entrepreneurship Related various aspects of respective entrepreneurship modelSocial entrepreneurship: This kind of entrepreneurship mainly deals with the thoughts ofproviding good services to the people for world's better. In this entrepreneurship model orrespected organization mainly works with global health organization for a philanthropic missionin countries development. Basically, in this context of entrepreneurship model, entrepreneursmake a decision for both public's health and organization development.For examples: TheCawthorne children centre is considered in social entrepreneurship in which they provide highquality low-cost childcare for localised employed household.Small business entrepreneurship: Small business entrepreneurship related to the small businessorganization mainly looks like an independently owned and independently conducted for makingthe earnings. It should always be remembered that the main objectives of the small business areto make more money and able to facilitate sustainable business performances compared to MNCor big companies. As there is a sufficient number of members are involved in the small businessenvironment, for expanding the existing small business the organization may face a lot of trouble1
Entrepreneurship & the Small Business Management_3

for sustainable business performances. For getting information point of view the capitals orassets of this small business organization are families, bank balance and friends support andinvolvement (Autio et al. 2014). For examples: For example Facebook, amazon. These are theventure can enhance the revenue without the extra large costs.Large company entrepreneurship: In case of the large business organization, the company mustgo through some long time finite process cycles which give additional attachment for getting thesustainable business environment as well as for increasing in encouragement in businessentrepreneurship decision making (Ibrahim and Lucky, 2014). As large companies deal withlarge amounts of products and related customers, it is always recommended for effectivebusiness entrepreneurship decision.Scalable start-up entrepreneurship: This kind of entrepreneurship is like the small businessentrepreneurship only differences in the concept of that this kind of entrepreneur mainly investtheir money and makes their decision on the brightest candidate of organization for researchingon the scalable and repeatable business plan (Choi and Majumdar, 2014). For examples:Accredible is the new scalable start up entrepreneurship which is an education technology basedbusiness with the aim of giving accreditation to online courses.Women entrepreneur: ladies business visionary is the another case of business person whobuilds up their business at their own particular level. In which they contract females and givethem the best chance to improve the future development. Serial entrepreneur: serial business visionaries are those business people who takes challengeson steady premise. Ones they open the organizations they centre around alternate endeavours.Once in a while they pitch their prior organizations and moves to the another ones. Like SirRichard Branson is the individual who is the serial business person. Typology of business visionary is distinguishes the connection between the diverseviewpoints. With the assistance of this they help to deal with the work in legitimate way. Thereare numerous business people who contribute their part in the development of economy, forexample, social business visionary, female business person. These every single diverse kind ofbusiness person take help of typology to execute the capacities.2
Entrepreneurship & the Small Business Management_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Aspects of Entrepreneurship in Newly Created Business Environment
|15
|3238
|41

Assignment on Entrepreneurship & a Small Business Management (pdf)
|28
|6562
|17

Entrepreneurship and Business Environment Report
|18
|5315
|73

Entrepreneurship and Its Aspects of Newly Created Business Environment
|13
|4714
|30

Entrepreneurship and Small Business Management
|16
|4801
|67

Entrepreneurship and Small Business Management PDF
|84
|9422
|120