ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT.

ENTREPRENEURSHIP AND SMALL BUSINESS
MANAGEMENT

Table of Contents
Introduction......................................................................................................................................2
Task 1...............................................................................................................................................2
P1 Different types of entrepreneurial ventures and their relation with the typology of
entrepreneurship..............................................................................................................................2
P2 Similarities and differences between entrepreneurial ventures..................................................3
Task 2...............................................................................................................................................5
P3 Interpretation of relevant data and statistics to illustrate how micro and small business impact
on economy......................................................................................................................................5
Task 3...............................................................................................................................................7
P6 Assessing aspects of the entrepreneurial personality which reflect entrepreneurial motivation
and mindset......................................................................................................................................8
Task 4...............................................................................................................................................9
P7 Examining relevant examples obtained through your mini-research, how background and
experience can hinder or foster entrepreneurship............................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................12
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Introduction
The study of the entrepreneurship and the small business management issues mainly addresses
the variety in the business forms and the preparation creating new ideas and innovations to create
a business in the newer processes that will distinguish the business from the other businesses.
The business will make the structures, funds, activities, training, employment and more of the
operations will make the newer generation of the entrepreneurial environment. The study
generates the financial support and economic condition of the society as well as the social and
capital impact on the small businesses and activities that deals with the business criteria. The
overall market needs to target the niche business areas that support and functions with the
turnover with a view to giving the employment opportunities. The Growth of the business may
grow the economy with more of the small business into the economy. The market will study
more of the small business targets and the impacts.
Task 1
P1 Different types of entrepreneurial ventures and their relation with the
typology of entrepreneurship
The entrepreneurial operations are done by the one who manages, assumes and works in order to
make the business a successful one with the bringing of new ideas and innovations in the
business. The broader definition of the entrepreneurship brings the founding essence of a
business and any organisation which connects and promises to make a significant difference in
the market to make differences out of the whole big blend of numerous businesses. New genre of
motivation and the operating systems creates the differences in the businesses and make it trendy
with the number of impacts falling on the consumer's, employees and the market itself. There is
huge number of difference in the market and the type of entrepreneurship also varies according
to the business type and skills (Ramadani et al. 2015). The entrepreneurial ventures may be
streamed in the following different segments with the relationship of the typology:
a.The sceptical entrepreneur - These kind of entrepreneurs seeks the entrepreneurial activities
from watching a business grow. The starting of the business can be examined in order to meet
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the inheritance of the success of the entrepreneur who looks into the strategies of making the
business a successful one. With a view to believe in the sceptical approach and the actions of
one's own contribution, it is sometimes required to follow the strategies and the action plans.
This is because it makes them believe in the mindset and the operations that they start so that it
creates an example for the consecutive to make a business stand.
b.The copycat entrepreneur - This type of entrepreneur sees the success of the others in order to
make the own business an example and better than the copied one. The copying of the business
makes it look apparently same with the fewest differences in the operations as well as industry
operations. There is a difference in the modelling and copying.
c.The research entrepreneur - The entrepreneur here loves to learn with the research outcomes of
the possible scenarios that makes the business as well as the research a great success to get the
problem meet its actions. This is to implement the strategies with the growth of the business. The
research ends with becoming an excuse of taking the action which strives to learn the business.
The key to success is to learn the implementation and its operations.
d.The determined entrepreneur - This entrepreneur needs to make the values of the copying, a
success. He is the one to make the proofs and possible focus on the reality measures of the
market. The determination in the operations helps him grow a business without the help or
copying from others. It is hard to deal with the startups to be on the market among the
experienced entrepreneurs. However, it is not too tough to fight in order to reach the success line
and grow the business with more accomplishment of the reality.
e.The accomplished entrepreneur - This type of entrepreneur goes through all the stages of the
business and the building of a business. They are focused with the scaling of the business and its
sources that make it more focused with the legacy that runs in the tradition of his business. An
accomplished entrepreneur makes and finds the figure out with the success and connectivity with
the other business entrepreneurs. He is the one who have seen the struggles and learned to fight
against those in the market with the business freedom.
P2 Similarities and differences between entrepreneurial ventures
The growth of a business takes lots of time to stand from the part of the entrepreneur and the
market. Success is the different issue for each of the business owners and the entrepreneurs.
Success take times and the different kinds of business will definitely bear some similarities and
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