Entrepreneurship And Small Business Management Report - Dixon Schawbl

Added on - 06 Jun 2020

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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3TASK..............................................................................................................................................3P1 Different type of entrepreneurial ventures and its typology.............................................3P2 Similarities and difference in between the different venture............................................5P3 Data and statistics show how micro and small business impact on economy...................7P4 Importance of small business and start ups growth of social economy............................9P5 Different characteristics, traits and skills of successful entrepreneurs............................11P6 Identify the different aspect with entrepreneurial personality........................................12P7 Background and experience that can foster.....................................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONIn entrepreneurship there are various criteria which needs to be considered byentrepreneurs while they are looking for business and although they do focus on variousactivities in with different persons too. Entrepreneurs are the one who bring many new thoughtsand views in their firm to have success of their organisation in comparison with competitors(Ackermann, 2012). Although they manage and handle every task in better manner so that profitand risks can also be included. This report is based on Dixon Schawbl which is small companyand provide services related to advertising and marketing. Firm is busy with serving its betterservices of marketing and advertising scenario. Therefore, around 77 people is working withentity and the firm was found in year around 1991. Project will discuss about different venturesand similarities in between those, hence how small and micro impact on economy andimportance of entities. Apart from such it will also include the features and skills ofentrepreneurs and aspects of them too.TASKP1 Different type of entrepreneurial ventures and its typology.In market competition is on high peek and even in such there are various ventures whoare fighting to get success and to earn higher profits as well. There is quite difference in betweenthe entrepreneurship and entrepreneur.Entrepreneur:He/she is the person who take risk with financial criteria in hope to earnhigher profit in comparison to its competitors and thus they have creative mind with such theybring new thoughts and views in their business so that they can make themselves stand inmarket.Entrepreneurship:It is that which consider the capacity and competence level whichmake them to develop and organize different business venture and activities in order to attainprofits. For instance, starting a new business in market.Moreover, there are various kind of typologies in entrepreneurship and few of those are as:Typologies:Lifestyle venture:In such, entrepreneurs are more likely to invest in those areas wherethe population is going to be served with product and services, so that they can attaincompetitiveness, although this kind of ventures are framed according to the preference and taste
of customers (Blackburn, Hart and Wainwright, 2013). Moreover, entrepreneur of this kind doesnot look forward to expand their business even they make their enterprise stable.Individual entrepreneurship:Person who establishes the business is not known to be anentrepreneur, if his activity is of profitable and although create job and even also leads tocontribute to society with their activity which are valuable too. Moreover to become anentrepreneur it is required to have many other qualifications too. Entrepreneur is all aboutindividuals, therefore as a consequence there are people who believe that these individuals arealso born entrepreneur. As a fact, entrepreneurship is having a process although not about havingindividuals.Managed growth enterprise:In this those company are considered which get stability intheir growth and development with business model. Although, in such venture investment goeswith up introducing the initial product and services in market. Hence, modification and tailoredgoods and services will be provided according to the demand growing of business.Public sector entrepreneurship:Development of the internal market with private/publicsector partnership which result into the having an need to increase public sector managers whichdo make them to have an adopt the private sector techniques and approaches as well. While the“social entrepreneur” are having an outside government with public entrepreneur as act withingovernment. In future it is required that the public servant is somewhere who needs to think likean entrepreneur.Aggressive growth:Exposer and progress is being considered in this typology ofentrepreneurship. Even such king of firm has the ability to produce the innovative and creativeservices as well. Moreover, technical advancement is such which help in having a great andexceptional growth. Generally, such kind of firm always make a investment in proper way too.These typologies are connected with each other and having an motto of serving millionsof people in effective way and lead to earn higher amount of profit too. Even though theentrepreneur are those who always look forward to invest at those places from where they canearn higher amount of return as well.Some of the key entrepreneurial venture are there and some of those are as:Small business venture:In this several individuals do come up with resources,innovation and the specific plan as well, with such specific plan and investment is made inworking so that profit can generate in better way. It includes different thing like stores,
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