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Entrepreneurship and Small Business Management Assignment Example

   

Added on  2021-06-30

20 Pages5411 Words36 Views
EntrepreneurshipProfessional Development
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ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT1
Entrepreneurship and Small Business Management Assignment Example_1

Table of ContentsIntroduction.................................................................................................................................................2COMPANY OVERVIEW.................................................................................................................................2LO1..............................................................................................................................................................3DIFFERENT TYPES OF ENTREPRENEURIAL VENTURES..................................................................................3SIMILARITIES AND DIFFERENCES BETWEEN ENTREPRENEURIAL VENTURES...............................................4UNDERSTANDING ENTREPRENEURSHIP IN BOTH PUBLIC AND CORPORATE SECTOR.................................6Lo2...............................................................................................................................................................7Interpretation of statistics for illustrating the impact of small business on the economy.......................7Importance of small businesses in growing the social economy.............................................................9Evaluation of variations made by medium and small as well as large businesses to the economy of the United Kingdom.....................................................................................................................................10Examining the means in which small-scale businesses impact over distinct economy level.................11Lo3.............................................................................................................................................................11Skill sets of successful entrepreneurs which differentiate them from different business executives....11Evaluation of the ways different entrepreneurial aspects reflect over the motivation and mindset....12Examining distinct lines of arguments associated with entrepreneurial characteristics.......................13Assessing the characteristic traits skills as well as motivational drivers of the successful entrepreneurs...............................................................................................................................................................14Lo4.............................................................................................................................................................14The way experience and background could foster or hinder the entrepreneurship.............................14Assessment of the link among entrepreneurial characteristics as well as the influence over experience and background.....................................................................................................................................15Evaluation of the ways in which experiences and backgrounds have an influence over entrepreneurship both negatively and positively..................................................................................16Conclusion.................................................................................................................................................17References.................................................................................................................................................182
Entrepreneurship and Small Business Management Assignment Example_2

Introduction The upcoming paragraphs of the following report have illustrated the statistics of theinfluence which small-scale businesses have on the economy of the United Kingdom.Furthermore, it has also highlighted the importance of small businesses for growing thesocial economy and assesses the variations made by small and medium enterprises alongwith large businesses to the economy. The report has also explored different ventureswhich can be taken into consideration for entrepreneurship. Besides, Skill sets which areneeded for the successful entrepreneur along with different characteristic traits have alsobeen discussed taking into consideration the motivation of the entrepreneurs. This reportwill provide several examples of successful entrepreneurs. At last, the report will discussthe way background and experience can foster and hinder the ability of doing business orentrepreneurship. COMPANY OVERVIEWBaked in Brick is the restaurant business that is situated in Birmingham, England. The restaurantstarted won best street food and pop up award in the year 2016 for its highly satisfactoryservices. The restaurant's tasty cuisine is known primarily for pasta, street food, and purevegetable and vegetarian products. The restaurant offers the services at a really good price andcompetes in particular with theDominos pizza group. The restaurant is known for its highlypotential and innovative ovens. The restaurant has attained the success in the Birmingham andwishes to expand its services in the London (Baked in Brick, 2021).3
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LO1DIFFERENT TYPES OF ENTREPRENEURIAL VENTURESThere are various types of entrepreneurship ventures that mainly help the individual and theperson to choose between the various types of venture for making the start-up. The followingare the common types of entrepreneur ventures:Small business entrepreneurship: This kind of business enterprise also begins to benefit from ahumble lifestyle. This kind of businessman is not looking for big gains but is glad if it supportsthem on a smaller level. There is normally one individual that owns the business who engageslike this in an establishment people or close relatives. For example, shops, plumbers and so on.Relation: this entrepreneurship is related to the craftsman as a typology of entrepreneurship. Itrequires professional's skills, less capital, less investment and more.Scalable start-up: This style of entrepreneurship is quite contrary to small enterpriseaspirations. Many developers want to make this a dream come true. Scalable start-ups will goquickly, fall down and crawl throughout until they are ready for the product (Morris et al.,2018).Relation: it is related to the typology with the social enterprises and the large investment isrequired and also sustains the uncertainty of the profitability. Large company entrepreneurship: The big business is where an organisation has a limitedlifecycle. This kind of company is designed for an experienced specialist who understands howto maintain creativity. Based on customer tastes, major firms also bring new goods and servicesto satisfy market opportunity.Relation: large company entrepreneurship is related to the typology of entrepreneurship as it isrelated to risk and involves a lot of investment, uncertainty and more. Social entrepreneur: An entrepreneur who needs the services and goods to address socialissues is in this group. It's not about making great money or riches. Their primary objective is toimprove the environment.Relation: a social entrepreneur is related to the environment and defence typologyof4
Entrepreneurship and Small Business Management Assignment Example_4

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