EntrepreneurshipAnd Small Business Management Assignment
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Added on 2020-06-06
EntrepreneurshipAnd Small Business Management Assignment
Added on 2020-06-06
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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION ..........................................................................................................................1PART 1............................................................................................................................................1P1 Examining different types of entrepreneurship .....................................................................1P2 Similarities and dissimilarities between entrepreneurial ventures.........................................2P3 Micro and small business impact on economy as considering local, regional, national,international and economic impact. ...........................................................................................4P4 Importance of small business on growth of social economy.................................................5PART 2............................................................................................................................................6P5 Determination of skills and quality of a business man with reference to successfulentrepreneur.................................................................................................................................6P6 Entrepreneurial personality and traits which reflect their motivation and mindset: .............7P7 Background and experiences can hinder & foster entrepreneurship.....................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTION Entrepreneurship is term that explains developing, launching and running of any enterprise.Entrepreneur are person by whom these organisation are managed and controlled. These smallbusinesses brings products and services with cheap rates as well as covers large area of customer.This report revolve around two successful business person's life and experiences which provideknowledge to reader about how small business can be flourished in market. The individual whichare mentioned are Bill Gates and Mark Zuckerberg (Blackburn, Hart and Wainwright, 2013).Areader can also analyse that entrepreneurs are not born they are made by their skills and talents.PART 1P1 Examining different types of entrepreneurship Entrepreneurship : It is process of designing, launching, and running of any enterprise.These companies begins as a small-business and offer different types of products as well asservices on hire or for sale((Carland, Carland and Stewart, 2015).).Scope of entrepreneurship :This type of business structure help in development ofcountry like India. This provide help to both developing as well as under developed economy.Individuals are choose this occupation as career. Some reasons are : Desire to control one's future More profitslack of employment opportunitiesGovernment measures to promote entrepreneurshipThis small business provide employment opportunities as well as earning to peoples fortheir livelihood. With coming of such businesses monopoly of big corporation has been reduced.Judicial authorities also provides full support to such organisation as government has introducedvarious development programs for such firms as well as authority as fulfilled all basicrequirement of them (Chittithaworn and et.al., 2011).Types of entrepreneurship:Small Business : These type of business is popular as they had cover large area ofcustomers with their innovative and cheap products. There are approx. 5.7 millions smallbusinesses are established in U.S. and approx. 50% employment are generated by thesecompanies((Fassin,Van Rossem and Buelens, 2011)). 1
Scalable start up entrepreneurship: Business man of such firm knows that they canchange vision of world. They search for ascend able business model . Large company: They has finite goals as well as targets . These companies on regularbase brings new products, technology, legislation sold these to new customer in newmarket.Social Entrepreneurship: Their main motive is to serve society as well needs ofcustomers. Goods and services are according to buyers needs and preferences (Islam,Khan and et.al., 2011).Types of entrepreneurial ventures: Survival : they are such type of undertaking which may or may not enrolled themselvesas well as work on small scale with few assets and on little land and operates on cash orbater basis.Lifestyle speculation: They help in changing lifestyle of people in particular area wherethey operates. They select one particular land and market their product as well asperiodically they reinvest in their organisation to make it competitive. Managed growth venture: these ventures on regular bases brings improvement in theirgrowth. They on daily bases come up with new products in fresh market (Gorgievski,Ascalon and Stephan, 2011).Aggressive growth: They works nationally as well as internationally. They focus ontechnology based model and operates on larger scale .P2 Similarities and dissimilarities between entrepreneurial ventures.Dissimilarities: Basisofdifference Survival Managed LifestyleAggressiveRole Their primarymotive is to servelow incomegroup. Theyconcentration onquality as well asare customerfocused.They work forself motive They focusgrowth and alsoknown for theirrisk taking ability.Characteristics No particulargoal, provideCreative,investigation onBuyers directed,think for wellPassionate,determined 2
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