Small Business Performance and Entrepreneurship
Added on 2020-10-23
16 Pages4637 Words177 Views
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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................1P1. Kinds of Entrepreneurial ventures and its relation with typology.........................................1P2. Similarities anddifferences betweenentrepreneurialventures.......................................................................................................................................2TASK 2............................................................................................................................................5P3. Assess and interpret how small and micro business impact on economy.............................5P4. Contribution of Small and start-ups for growth of social economy......................................6TASK 3............................................................................................................................................7P5 Characteristics, traits and skills of successful entrepreneurs..................................................7P6 Entrepreneurial personality reflect entrepreneurial motivation & mindset............................9P7 The way in which background and experience can foster entrepreneurship........................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONIn general, entrepreneurship is defined as the skill and ability of an individual to developand run fresh business. In business world, it is very important to have skill and ability thatsupport in managing and running of business operation effectively and increase the productivityand performance (Baum, Frese and Baron, 2014). So it is very crucial to have a professionentrepreneur to run business effectively. They formulate various strategies and create innovationideas to bring effectiveness in company and rise the market position. In this report, Joe woods isselected that wants to start their on IT business that will provide various facilities to customersuch as online payment facilities to merchants.This project report covers, different types of entrepreneurial ventures that are similar andhave some differences in respect to their transaction and subjective. Report discuss the ways thathelp small business to start their new business. The main focus of report is to discuss the skills,characteristics and traits of an entrepreneur to run business. P1. Kinds of Entrepreneurial ventures and its relation with typologyEntrepreneurship plays an integral character in the modern times and it modernbusinesses. As the emerging needs of the new inventions or the new businesses are incrementing,it develops the people's interest in the context of entrepreneurship and its requirement for thebusinesses. The individual who creates the new business ideas and converts the business ideasinto the business opportunities, that individual is known as the 'Entrepreneur' and the process ofconverting the business ideas in form of the business opportunities with the motive to generatethe profits and revenues for the business, the process is kn own as 'Entrepreneurship'. There areseveral kinds of entrepreneurship ventures which are as follows. Large corporations: the corporations operates at the large scale or operates the businessin different sectors and regions of the country or in abroad, these organisations are known aslarge corporation. As these entities requires the huge capital employment and huge amount ofresources for the business operations (Blackburn, Hart and Wainwright, 2013). For example,TESCO (UK) a British multinational company operates at international level performing thebusiness in different nations of the world. Small corporations: the corporations of small-sized or operates at the small scale oroperates the business within the limited area of city or state, these organisations are known as1
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