Social Entrepreneurship Case Studies Analysis

This assignment involves the analysis of case studies in social entrepreneurship and sustainability. Students are required to examine the provided cases from various aspects such as contextual challenges, ethical considerations, impacts of entrepreneurship education, and sustainable entrepreneurship. The assignment aims to evaluate students' understanding of these concepts and their application in real-world entrepreneurial scenarios.

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P.1. Explain different types of entrepreneurial ventures and explain how they related to the
typology of entrepreneurship......................................................................................................1
P.2. Explore the similarities and differences between entrepreneurial ventures.........................2
TASK 2............................................................................................................................................3
P.3. Interpret and assess relevant data and statistics to illustrate how micro and small business
impact on the economy...............................................................................................................3
P.4. Explain the importance of small businesses and business start-ups to the growth of social
economy......................................................................................................................................4
P.5. Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business manager.............................................................................................5
P.6. Assess how aspects of the entrepreneurial aspects' personality reflect entrepreneurial
motivation and mindset...............................................................................................................6
P.7. Examine, using relevant examples how background and experience can hind or foster
entrepreneur.................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Small and medium businesses are playing major role in case of social economic growth
of the UK. Varied of small entrepreneur venture and start-ups are running in the nation and they
come up in market with introducing various types of innovative products and services to
fulfilment of peoples needs and demands. In this report, the company has been chosen which is
Farmfoods is a private owned businesses in the United Kingdom. In addition to this, this
assignment defines about different types of entrepreneurial and relations of heir typology in
industry. This report also will be discussed about how micro and small and medium businesses
are making impact on the economic growth of the nation. Beside from it, this assignment also
will be discussed about characteristic and skills of successful entrepreneurs that make them
different from other and using relevant examples, how background and experiences could hinder
of foster entrepreneurship in the industry.
TASK 1
P.1. Explain different types of entrepreneurial ventures and explain how they related to the
typology of entrepreneurship
It could be said that, there are numbers of entrepreneurs are working in the UK for
different-different purpose, so they are related to the different typology of entrepreneurship.
Small business entrepreneur: In today's world, the large numbers of small business
entrepreneurs are increasing and doing business in various countries (Ritchie, 2015). So in case
of UK, it could be said that, there are 5.9 Million business running in the country at small level
which includes small grocery stores, hairdressers, consultant firms, traveling agents, internet
commerce storefronts, plumbers, electricians etc. all they are doing their business in the nation in
effective manner and generating revenue at small level.
Scalable Startup Entrepreneurship:Unlike small businesses, scalable startup
entrepreneurs are also running in large quantity in UK. These types of entrepreneurship start-up
their business in the nation for knowing for the purpose to focusing on their specific vision in
order to make large changes in the world by introducing innovative product and services to
communities (Nieto and Santamaría, 2010). For proper running of this type of firm, they hire
bright and talented mind which can assist them to achieve their business goals. Their job is to
search for a repeatable and scalable business model establishment.
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Large company entrepreneurship: Large companies are also working in large numbers
in the UK and they have finite life cycle of working in industry. Most of these types of
companies are growing in the nation by adopting sustainable innovative technologies.
Introducing new products and services to their customers and making variants in their core
business products. They ear profit ion large quantity and generate high amount as well.
Social entrepreneurship: Social entrepreneurs are also running in the UK in wide range.
The major purpose of social entrepreneurs is that, to make focusing on producing innovative
products and services as per social needs, which can assists them to fulfilment of their demands
in communities (Schulze and Gedajlovic, 2010). Unlike the scalable business, they have major
goals for making the world a better place and they run business not for earning profitability from
the market. In UK, numerous NGO's and other social firm are working in communities in proper
way.
P.2. Explore the similarities and differences between entrepreneurial ventures
From the analysis, it could be said that, there are lot of similarities and differences has
been find out in all these types of entrepreneurship in UK.
Large scale organisation Small scale organisation
The major differences is that, large numbers of
organisations running in the UK for earning
high amount of money from industry.
Large organisation always focusing on hire
new employees in order to gaining more
productivity and profitability.
In large scale firm, they have respective form
of training and development program which is
being provided by company's HRM
professionals at workplace (Drucker, 2012).
Financial management system of large scale
businesses has in uniform manager, which
Small business are working in UK for earning
profitability at very minor level by which they
can fulfill their daily needs.
Small businesses often make effort to
improving in their existing employees in case
of skill development and fulfilment of desired
needs.
In case of small businesses, training and
development program is been in informal
manner and it has been done by voluntary
bases and by other senior employees in staff.
Small types of entrepreneur does bot follow the
uniform manner for financial management and
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implement financial and management
accounting approach.
it does not maintain high amount of money at
workplace.
Social entrepreneur Scalable entrepreneur
Social entrepreneur venture works for making
major development in society by introducing
various types of products and services.
In case of social entrepreneurial businesses,
they do not require for high professionals
worker for functioning its works in the firm.
They only need for voluntary workers for
completion of each task (Barber, Metcalfe and
Porteous, eds., 2016).
They do not have prime vision to making large
numbers of changes in the world.
Social business in the nation does not work for
earning profit, they do business for helping
peoples and fulfilment of social needs in
communities.
Scalable entrepreneur have major goals for
making changes in the world by introducing
innovative and unique products for
communities.
In order to functioning of its all works in
industry, scalable entrepreneur ventures need
for high talented and brilliant minds for
completion of their several business activities
in market.
In scalable business, their vision and mission
focusing on changing in the world at wide
range.
Scalable business launch innovative products
for helping people at various terms but they
also work for earning high amount of
profitability and revenue generation.
TASK 2
P.3. Interpret and assess relevant data and statistics to illustrate how micro and small business
impact on the economy
From the analysis, it could be said that, small business are growing in UK at faster rate
and they are generating revenue from the market at very small but overall revenue of all SME's
making wide range of impact on UK's economy. SMEs are a very essential part for the country's
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economy and they are running in the country at 92%. In today's world all enterprise and
employees are raising in numbers of persons in country. Most enterprises are independent and
they do not concerned to enterprise groups. In case of Farmfoods, which is a medium size of
organisation and the company is rapidly growing in the foods retail industry of the nation. In
addition to this, there are large small and medium size of entrepreneur are giving employment
and also making effect gross value added (GVA). In most countries, dependent SME's are more
open to international trade than independent SMEs (Mason, 2015). It could be said that, the
growth generating potential of SMRs has been increasing the Gross domestic products values of
the nation. In UK less than 10 employees firms has 5.7 million SMEs entrepreneurs in the UK
and % of SMEs in the nation is 94.6% so it could be stated that, in varied sector, small business
are running in the country for fulfilment of its customers needs and requirements. With the
assistance of small and medium business in country, the unemployment rate in various sector has
been decreasing and it is also making increment in nation income of the nation as well.
Farmfoods organisation also making effective contribution towards raising country economic
value and high revenue generation. Wide range of scope in SMEs has been occupied and it has
been seen that, Farmfoods organisation is rapidly growing and making contribution to country's
economic values. It is also seen that, small business contribute to local economies by bringing
growth and innovation to the communities in which the business is established. Small business
attract new talent which could not get place by large company and with the help of their
innovative and technical ideas, they are producing new products as per people needs. In the
nation, many large companies are also depended on small businesses because of completion of
several business functions by outsourcing from small enterprise ventures. Hence, it could be said
that, there are various aspects of small business entrepreneurs which making impact on the
economic growth.
P.4. Explain the importance of small businesses and business start-ups to the growth of social
economy
In UK, varied of small and start-up entrepreneurial venture increasing in rapid manner
and it has been seen that, they have major importance in terms of economic growth and
development in several other sections. In case of small sector businesses n the nation, there are
four types of prime section of small and medium business which is, manufacturing, wholesale,
retail and services etc (Goldberg Sullivan, Goldwasser and Braud, Netsuite Inc, 2010). small and
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start-ups playing impressive role in each industry. At initial level of small business, it goes
through testing of its various business ideas in market. Those business which can survive
overtime in market could assist the economic growth of the country.
Competition: First of all, it can be said that, small businesses can create new competition
in market from its previously stale areas. So launching various new technologies and innovative
products in industry, they area building extreme competition for SMEs and large companies as
well. Start-ups offering innovative products and quality of services at cheaper rate than large
business, which could increase competition level in UK (Barringer and Ireland, 2010).
Farmfoods organisation also increasing wide rage of competition by offering frozen foods
services in the market.
Economic growth: Small business also contribute to proper economic growth of UK.
They are generating large number of employment at various level to local peoples. So they get
opportunities to getting job in various small business (Bridge and O'Neill, 2012). Apart from it,
they are generating small amount of revenue and overall revenue of all SMEs also increasing the
national income of UK, which is a prime reason to appropriate boosting to economic growth of
the country.
Job Growth:IT has been seen that, in private sector, specially in small business and
business start-ups, they are increasing jobs in the market around 70% and this is the high range
of economic growth because of new employees of firm comes with several innovative and
technical ideas in the corporation. It increases social economic environment of the nation in
proper way.
P.5. Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business manager
Successful entrepreneurs people have many skills and traits in common with one another.
They are confident and optimistic. Entrepreneurs know their product inside and outside. They
also know the market (Schaltegger, S. and Wagner, M., 2011). Most become successful because
they create something that did not exist in the market. Entrepreneurs are risk takers, ready to dive
deep into a future of uncertainty. But not all risk takers are successful entrepreneurs because
successful entrepreneurs are willing to risk their time and money on unknowns. Some of the
traits and skills of successful entrepreneurs which differentiate them from others are :
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Disciplined : Successful entrepreneurs are disciplined enough to take steps every day
towards the achievement of their objectives (Drucker, 2014). The difference between successful
entrepreneurs and failure is that successful entrepreneurs make a habit of doing the things that
failure don't like to do. Successful entrepreneurs do that thing in any ways because they realize
that this is the price they must pay for the success they desire.
Vision : Successful entrepreneurs always keep one eye on the big picture, and this ability
can make you a better employee. F
Flexibility : Successful entrepreneurs are able to adapt to change and solve problems as
they arise (Storey, ed., 2016).
Passion : Passion is the most important trait of the successful entrepreneurs. They
genuinely love their work. They are willing to put in those extra hours to make the business
succeed.
Strong work ethic : The successful entrepreneur will often be the first person to arrive at
the office and the last one to leave. They will come in on their days off to make sure that an
outcome meets their expectations. Their mind is constantly on their work, whether they are in or
out of the workplace.
Strong communication skills : the entrepreneurs have strong communication skills to sell
the products and motivate employees (Dees, 2017). Most successful entrepreneurs know how to
motivate their employees so the business grows overall.
The main characteristics of a successful entrepreneur is the strong money management. It
takes time for any entrepreneurial venture to become profitable. Successful entrepreneurs plan
for present and future financial obligations and set aside an emergency fund even after securing
funding. Entrepreneurs recognize that communication is the key to successful relationship with
people.
P.6. Assess how aspects of the entrepreneurial aspects' personality reflect entrepreneurial
motivation and mindset
Entrepreneurs are all different. They all have a different entrepreneur mindset that
contributes to their success. Different motivational structures found among self employed are to
some extent associated with different personality traits. ThThese findings suggest that not only
do motivational structures vary within the group of self employed but also that different
personality traits tend to go along with different motives.
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The personality traits of entrepreneurial mind set :- The realisation of ideas is not only
imperative for entrepreneurs but also a rare capability. “ideas are cheap” suggesting that anyone
can have an idea but only certain persons have the capacity to realize an idea. underlying
motives are the core of entrepreneurial mind set (Santos, 2012). Although personality may be a
vital part of such a mindset it is nonetheless insufficient to use motivational structures or
personality traits alone in order to define an entrepreneurial mind set. Personality traits are
measured by way of the big five models. The following five traits are included in the big five :-
 extraversion
 agreeableness
 conscientiousness
 emotional stability
 openness to experience
The personality traits of entrepreneurial motivation:
Vision: This is also one of the best personality traits of an entrepreneur, so an
entrepreneur must be in reflective form in case of set up their vision in their lives. A successful
entrepreneur must have proper on which they focus more for sufficient development in some of
its areas. Vision takes a combination of practical experiences at various field by which they
could manage their all activities in proper way (Oosterbeek, H., Van Praag, M. and Ijsselstein,
A., 2010). A successful entrepreneur must have effective vision so, they can make major focus
on development in their personality in sufficient form. They have some of the areas by which
sufficient development could be gained in relevant form.
Passion: It could be said that, an entrepreneur must be passionate about their works and
job in the business. They must like their job whatever they are doing the venture. Some
motivational techniques make them more passionate about their works in the firm. They enjoy
their works in the business in order to completion on them.
Willingness of adapt: They have willingness to adapt each critical situation of their
business in the industry. They must be flexible in nation, so that could adopt each situation in the
business in critical situation of the business in more relevant manner. Apart from it, they faced
many challenged in the business, so they must be adoptive (Brenkert, 2017).
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P.7. Examine, using relevant examples how background and experience can hind or foster
entrepreneur
In case of proper running of their businesses, Farmfoods organisation owner can get some
background support from their family and other friends so which can hinder and foster
entrepreneur. Some factors affect their business qualities in the industry.
Those factors include their skills, traits, family support, knowledge and education. The
family background of both the entrepreneurs partly hinder and partly foster in their growth and
development. The positive impact of them is they were always supported by their families. The
negative impact was societal pressure and family both these entrepreneurs major reason to be
anxious and furious about their work and ideas (Welter, 2011). The positive effect of their
personality traits that they never give up in any critical and crucial situation in the business and
the negative effect were frequently faced failure and defeats while they were taking major
decision and implementing changes and transformation their business. These all are reason to
helps them success in the business. It determines by the failures they had faced. Both Bill Gates
and Steve Jobs faced many difficulties and issues concerning their background, family and
societal support. This is the nature of their personality that they counter front of all the
difficulties and problems effectively and efficiently. In the information technology sectors. There
were certain factors that foster their growth and development effectively and efficiently.
CONCLUSION
From the above analysis, it could be concluded that, in case of running a small
entrepreneur, there are numbers of characteristic and traits are needed in case of proper running a
small entrepreneur business. In addition to this, the importance of small businesses in the social
economy of the UK. Some entrepreneurial aspects and personalities reflect entrepreneurial
motivation and mindset by which they can proper run its business in the industry.
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REFERENCES
Books and Journals
Barringer, E. and Ireland, R. D., 2010. Successfully Launching New Ventures. Pearson.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Dees, J. G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability (pp. 34-42). Routledge.
Welter, F., 2011. Contextualizing entrepreneurship—conceptual challenges and ways forward.
Entrepreneurship theory and practice. 35. 1. pp. 165-184.
Brenkert, G.G., 2017. Entrepreneurship, ethics, and the good society. In Entrepreneurship (pp.
85-128). Routledge.
Oosterbeek, H., Van Praag, M. and Ijsselstein, A., 2010. The impact of entrepreneurship
education on entrepreneurship skills and motivation. European economic review. 54.
3. pp.442-454.
Santos, F.M., 2012. A positive theory of social entrepreneurship. Journal of business ethics,
111. 3. pp. 335-351.
Storey, D. J. ed., 2016. Entrepreneurship and new firm. Routledge.
Schaltegger, S. and Wagner, M., 2011. Sustainable entrepreneurship and sustainability
innovation: categories and interactions. Business strategy and the environment. 20. 4.
pp. 222-237.
Bridge, S. and O'Neill, K., 2012. Understanding enterprise: Entrepreneurship and small
business. Palgrave Macmillan.
Goldberg, E. M., Sullivan, C. S., Goldwasser, B. and Braud, L. A., Netsuite Inc, 2010. Concise
communication of real-time business information in an enterprise network. U.S. Patent
7,685,010.
Mason, C., 2015. Spatial variations in enterprise: the geography of new firm formation. In
Deciphering the Enterprise Culture (Routledge Revivals) (pp. 94-126). Routledge.
Barber, J., Metcalfe, S. and Porteous, M. eds., 2016. Barriers to growth in small firms.
Routledge.
Drucker, P., 2012. The frontiers of management. Routledge.
Schulze, W. S. and Gedajlovic, E. R., 2010. Whither family business?. Journal of Management
Studies. 47. 2. pp. 191-204.
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Nieto, M. J. and Santamaría, L., 2010. Technological collaboration: Bridging the innovation
gap between small and large firms. Journal of Small Business Management. 48. 1. pp.
44-69.
Ritchie, J., 2015. Enterprise cultures. Deciphering the Enterprise Culture (Routledge
Revivals): Entrepreneurship, Petty Capitalism and the Restructuring of Britain. p. 17.
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