Entrepreneurship and Small Business Management

ENTREPRENEURSHIP
AND SMALL BUISNESS
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1. Discuss different type of entrepreneurial venture and relate them with typology factor of
entrepreneurship.....................................................................................................................1
P2. Illustrate the comparison and similarities between entrepreneurial ventures..................3
Task 2...............................................................................................................................................5
P3. Analyse the relevant data to be access and strategies of micro and small business impact
on economy............................................................................................................................5
P4. Demonstrate the importance of small business and start up business towards the growth of
the social economy.................................................................................................................7
Task 3...............................................................................................................................................8
P5. Elaborate the characteristics, traits and Skills of successful entrepreneur which is different
from other business manager..................................................................................................9
P6. Demonstrate the personality traits in the mid set of entrepreneurship mind set of
motivation factor..................................................................................................................11
Task 4.............................................................................................................................................12
P7. As per using relevant example of entrepreneurs about how background and experience
through hinder and foster Entrepreneurship.........................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
The background of Entrepreneurship is form of creativity about the productive business
orientation which brings effective outcomes. Small business management is comprise about
specifies the business venture of enhance the moderate development in terms of employment,
infrastructure etc. in local regions (Acs, Szerb and Autio, 2017). By establish own
business firm which refer the innovative mind set of corporate culture as well as provide the
society integration in positive direction through individual known as Entrepreneur. Their
objective is to facilitates economic scale of product and services to customer for enhance their
buying power, making awareness about their business existence in every localities and more
profit maximisation for long term period (Aldrich, 2017).
According to this report of entrepreneurship based on highlight the different types of
entrepreneurial venture along with typology factor includes in first phrase and to represent the
differentiate and similarities generates among type of entrepreneurship ventures. Through
importance factor are mention on the perspective of small and start up business venture that
create an impact in social economy, by determining the two entrepreneurs from United kingdom
based and have to measure their traits and skills. After that by applying Ocean model personality
to compare with entrepreneurs along with their background and experiences through hinder and
foster entrepreneurship.
Task 1.
P1. Discuss different type of entrepreneurial venture and relate them with typology factor of
entrepreneurship.
Entrepreneurship: The effective framework of having innovative business ideas which
form the new business orientation that emphasis about new functional roles in company
perspective that having one motive to optimise profit maximisation to stable in the business
environment for long term aspects.
Different Types of Entrepreneurship ventures are:
 Local Entrepreneurship: This type of venture is construct the business and growth in
local organisation where they formulate unique business ideas and opportunities driven in
1

the local premises (Barba-Sánchez and Atienza-Sahuquillo, 2018). For
Example: In United Kingdom, there are many local entrepreneurship like Peter Jones
who is well known UK based business entrepreneur of company Dragon Den which is
popular series in BBC Television.
 Global Entrepreneurship: It is basically determine and establish new innovative
business activities related in particular country's boundaries. The activities which
involves is improvising, exporting and opening of new sales office in another part of
business venture. For examples, Philip Green is a owner of Acrdia group which is
retailer company as well as he is British billionaire in United Kingdom. His company
covered other areas of UK boundires and it well famous at globally (Belz and Binder,
2017).
 Social Entrepreneurship: A business which is presumes through individual in
perspective of development towards in society and culture as they have not motive to
earn profit rather than to generate more optimum opportunity of infrastructure
development. Social Entrepreneurship involves the effective nature of aims and set of
beliefs. For example, Seagulls is a social enterprise in United Kingdom that presumes in
the 3Ps like People, profit and Planet to develop the environment practises in terms of
better households as well as positive environment.
Typologies Entrepreneurial venture:
 Growth based Entrepreneurship: It is the venture which is determine the particular
company's performance through growing motive and overview of business description is
to influence many people to procure them products and services. There is important role
of small business management where they regulates the business overview of particular
business entrepreneurship it support to improvise the buying power increases and provide
them optimum product and services (Bhachu, P. ed., 2017).
 Social based Entrepreneurship: This typology of entrepreneurship is operates on the
basis of objective which driven by individual to provide guidance to overcame from
critical issues and challenges and motivate to earn profit. They basically focus towards
2