Report on Entrepreneurship & Small Business Management (Doc)

Added on - 21 Jul 2020

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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..............................................................................................................................10...................................................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurship is concerned as system which explains the launching, development & runningthe of any business organisation. Entrepreneur is relates to a person which coordinate &managed all over the organisation. These domestic & small scale businesses cover the large ofthe customers by provide there products & commodities in cheaper rate. This report is based onthe life & experiences of two persons who are successful in there business world that help tounderstand how a business organisation which is based on the small scale can be flourished inthe market. Mr. Bill Gates & Mark Zuckerberg (Blackburn, Hart & Wainwright,2013) asmentioned as individual identity. “Entrepreneurare not born they are made by there skills &there talents.”TASK 1P1 Examination of various kind of entrepreneurship are as follows:-Meaning of Entrepreneurship: It concerns to that systematised process under themanagement organisation that relates to launching, designing & running the enterprise. Thesecompanies are based on the small scale businesses & other various kind of products, goods &services for sale.(Carland, Carland & Stewart 2015).Roots of entrepreneurship:-This structure of the business organisation help to underdeveloping of countries like India as well as developed economy.. This provide help to bothdeveloping and under developed economy. In this area of concern individuals can choose thereoccupation as a career. Some reasons are following:-Desire to control over the future aspectsMaximization of ProfitsOpportunities of employment are low.Measure the Government to promoting the EntrepreneurshipThe small business organisation provides the opportunities of employment as well as theearnings through there customers. The monopoly of the big or large level business. Some judicialauthorities provide the full support the business concern where government introduced thedifferent kinds of developed programs for the small business concern.(Chittithawon. &et.al.2011)1
Kinds of Entrepreneurship:-Small Scale Business Organisation:- : This kind of organisations area very much popularwhere they cover the entire area of the customers with there innovative ideas of producecheaper products..There are some small scale organisation established in U.S. which havearound 50% of employment 7 approx. 5.7 million turnover. ((Fassin.Van Rossem,Buelens. 2011)).Start Up of Entrepreneurship: A Business man of the small business small scaleorganisation can change the vision of the world vision of world.Big Companies : In these large companies they have their own finite goals & mission &targets. They produce, technology, legislation regularly sold to new markets & newcustomers. These organisations size, there cultures will extremely difficult to execute thedescriptive innovations. These business size, and culture makes disruptive innovationwhich is extremely difficult to execute.Entrepreneurship Under Society:-:Their initial motive is to understand the requirement ofthe customers. And according to that produce there goods & provide them services. Theirmain motive is to serve society as well needs of customers.(Islam, Khan and et. al.,2011).There are different kinds of Entrepreneur ventures.Survival:- They are such type of undertaking which may or may not enrolled themselvesas well as work on small scale with few assets & on a little land & operates on cash orbarter basis.Lifestyle speculation:- They help in changing lifestyle of people in a particular areawhere they operate. They select one particular land & 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 work nationally as well as internationally. They focus ontechnology based model and operates on larger scale.P2 Similarities and dissimilarities between entrepreneurial ventures.Dissimilarities:2
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