(PDF) Entrepreneurship and Small Business Management
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Added on 2020-09-17
(PDF) Entrepreneurship and Small Business Management
Added on 2020-09-17
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ENTREPRENEURSHIP ANDSMALL BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurship..........................................................................................................................1P2 Similarities and differences between entrepreneurial ventures.............................................3TASK 2............................................................................................................................................4P3 How micro and small businesses impact on the economy.....................................................4P4 Importance of small businesses and business start-ups to the growth of the social economy.....................................................................................................................................................6TASK 3............................................................................................................................................7P5 Characteristic traits and skills of successful entrepreneurs that differentiate them fromother business managers..............................................................................................................7P6 How aspects of the entrepreneurial personality reflect entrepreneurial motivation andmindset........................................................................................................................................9TASK 4..........................................................................................................................................10P7 Background and experience can hinder or foster entrepreneurship.....................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurship consider as a process to develop and manage new business activities atsmall level with the purpose of attaining growth at market place. In this, the individuals who starta new business and take risk are known by entrepreneurs. They also bring new and innovativeideas to create something new for generating profits. Along with this, entrepreneurs are alsoinnovator who take risk and decision for achieving their set target. As number of opportunitiesand benefits are available in economy which help small business organization to develop theiractivities (Burns, 2016). This will contribute in improving the economy condition by offeringemployment to local people. Current report discussed about different type of entrepreneurialventures and its typologies. Contribution of small and micro business activities are alsomentioned in this project which help in developing the economy growth of the nation. In additionof this, important skills and traits of entrepreneur which is differ form other manager are alsodiscussed here. Aspects of the entrepreneurial personality on motivation and their mind set willbe mentioned in this assignment. At last, contribution of background and experience can hinderor foster entrepreneurship is also mentioned in this project. TASK 1P1 Different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurshipEntrepreneurial ventures: It can be defines an an organization that focus on operating business activities with thepurpose of achieving profits. In this, individuals who run business with the purpose of attainingvarious opportunities to make their business successful. This type of companies are directlycontribute in enhancing economic growth. The main purpose of entrepreneurial venture is tocreating wealth by serving quality services and taking risk as well. It contribute in attainingsuccess at market place.Entrepreneur:Entrepreneurs are those individual who bring new ideas to run business with limitedresources. Along with they also take risk with the purpose of converting into higher profitability.Types of entrepreneurs: In an economy of the nation, various entrepreneurs operate theirbusiness with their new ideas and their purpose is also differ from others (Fayolle and Gailly,2015). These are as follows:1
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