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Assignment : Entrepreneurship and Small Business Management (Doc)

   

Added on  2020-10-04

20 Pages2349 Words324 Views
Entrepreneurship and SmallBusinessManagement1

ContentsTASK 1........................................................................................3P1 Various types of entrepreneurial venturesand how they relate to typology ofentrepreneurship.......................................................................3P2 Distinguish and similarities amongentrepreneurial ventures...........................................................7TASK 2 .....................................................................................14P3 Interpretation of significant data andstatistics to exemplify how micro and smallbusiness impact on the economy............................................14P4 Explicate small business & business startups to growth of the social economy......................................192

TASK 1P1 Various types of entrepreneurialventures and how they relate totypology of entrepreneurshipEntrepreneurship refers to innovativemethod for creation of organization of operationsby creative & effectual thoughts. This isimperative to not to stick to particular innovationand expand business by introducing new productsor making any kind of alterations in theirundertaking(Blackburn, Hart and Wainwright,2013). Various entrepreneurial ventures areprovided beneath:Small business entrepreneurship: UK hasa widespread small business ventures due towhich they have enhanced growth rate fordeveloping their operations. These businesses arecarried out by either owners or small number ofemployees.They can either be executed by familymembers or friends. Small scale entrepreneurshipcan be internet cafes, auto mobile retailers andconsulting companies. 3

Scalable start-up entrepreneurship:Theyemphases on creation of high quality products.Here,entrepreneurs are confident about theservices which they are about furnish as they havefaith in their innovative idea. Primary purpose ofthese organizations is to scale for which they needto have adequate financial resources. By this, theywill able to expand their business in terms ofproductivity and profitability(Bosma and et. al.,2012). Large company entrepreneurship: Thesecompanies works at higher level and aims atattaining higher level sustainability. The largeinvestments have been made by which productsand services can be improvised.Demands ofpeople goes on altering with advancement intechnologies, it leads to high competition amongpeople. Therefore, it is necessary to have goodposition within the market; this will enable themto maintain their position by transforming ideasinto reality.Social entrepreneurship: Entrepreneursare responsible for creating innovative services4

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