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Entrepreneurship and Small Business Management Assignment :Unicorn Grocery

   

Added on  2021-02-18

16 Pages4754 Words20 Views
EntrepreneurshipPolitical Science
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Entrepreneurship andSmall BusinessManagement
Entrepreneurship and Small Business Management Assignment :Unicorn Grocery_1

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1. Different types of entrepreneurial ventures and different types of entrepreneurshiptypologies....................................................................................................................................1P2 Similarities and difference between entrepreneurial ventures...............................................3TASK 2............................................................................................................................................4P3 Impact of micro and small business on economy..................................................................4P4 Importance of small businesses and starts-ups in growth of social economy........................6TASK 3............................................................................................................................................8P5 Traits and skills of two successful entrepreneurs..................................................................8P6. Entrepreneurial personality reflects entrepreneurial motivation and mind-set.....................9TASK 4..........................................................................................................................................10P7. Background and experience can hinder and foster entrepreneurship.................................10CONCLUSION..............................................................................................................................11REFERENCES .............................................................................................................................12.......................................................................................................................................................13
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INTRODUCTION Entrepreneurship is an effective activity of setting a new business and taking on financialrisks in the hope and purpose of profit (What is Entrepreneurship?, 2017). It is an importantprocess to balance strong and long term vision with a willingness and desire to embrace change.An entrepreneur is an individual person who, rather than working and functioning as a worker,founds and establish a small business, assuming entire rewards and risks of the venture(Barringer, 2012). Therefore, entrepreneurship is identify as an effective procedures ofdesigning, running and designing a new business. This report will be made of small-businesswhich is Unicorn Grocery. It is a grocery store which is located in Chorliton-cum-Hardy,England. This report is based on different parts such as a various kind of entrepreneurial ventureand their relations with entrepreneurship typologies. Impact of micro and small business and itssignificance in the growth of social economy. Entrepreneurial personality, traits, skills,experience and background reflects on its mind-set as well as motivation also. TASK 1P1. Different types of entrepreneurial ventures and different types of entrepreneurship typologiesEntrepreneurship: It is the capacity and desires to develop, manage and run a new businessalong with any kind of risks in order to make maximum amount of profit. According toNathaniel H Left that define entrepreneurship is the willingness and capacity for investment,expansion and innovation in new techniques, products and markets.Different types of entrepreneurial ventures: There are different number of ventures are existingat marketplace which is started and owned by a single person. All these business are mainlydepends on risk taking capability of entrepreneurs (Baum, Frese and Baron, 2014). Therefore, allventures are not similar for each other and not have common purpose which are needed tocomplete entire requirement and needs to launch new business activities appropriately. Belowmentioned four types of ventures and they are not having similar features are explained: Scalable starts-up entrepreneurship: Under this venture, maximum profit and risk arehighly involved. They needed to be capitalised by crazy capitalist which are always readyto take maximum amount of risk with motto to earn more profits. Main aim and objectiveof this entrepreneurial venture is to modify the globe with their new ides and opinions. Inorder to expand their business rapidly, such kind of venture needed maximum fund. 1
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