Small Business Management Table of Content

   

Added on  2021-02-19

15 Pages3799 Words485 Views
Entrepreneurship andSmall BusinessManagement
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Table of ContentINTRODUCTION...........................................................................................................................3ACTIVITY 1....................................................................................................................................3Different kinds of entrepreneurial venture which is related to typology of entrepreneurship.....4Differences and similarities between various entrepreneurial ventures......................................5Small and medium business effect upon economy......................................................................9Importance of business start up and small business to progress of social economy..................10ACTIVITY 2..................................................................................................................................11Skills and characteristic traits of successful entrepreneur that different from business managers....................................................................................................................................................11Entrepreneurial personality reflect entrepreneurial mind set and motivation............................11Experience and background foster or hinder entrepreneurship.................................................12CONCLUSION..............................................................................................................................13
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INTRODUCTIONSmall business management is the procedure used by businessman when running itsbusiness operations. Entrepreneurship is the best mode use businessman to set up business andsmall business management by considering several risks related to managerial and financialperformance (Busenitz and Arthurs, 2014). The present report is based on different types oforganization and explain various kinds of entrepreneurial venture related to typology ofentrepreneurship. Differences and similarities between entrepreneurial ventures and diverserange of entrepreneurial ventures in corporate and public sector. It explains development, growthand scope of entrepreneurial ventures and also define small and medium businesses impact oneconomy with some relevant data and statistics. Importance of start up and small business togrowth of social economy and clarifies characteristics and skills of successful entrepreneurs.This study justifies aspects of entrepreneurial personality reflect entrepreneurial mind set andmotivation. Furthermore, it explains how experience and background hinder or fosterentrepreneurship and influence both negatively and positively. ACTIVITY 1Entrepreneur-Entrepreneur is a person who efforts to set up the business with great innovating andcreative ideas that determines need for creation of business. In simple words, he/she is the personwith willingness and great capacity to develop, manage and organize the business venture alongwith managing risks in order to run business successfully and earn profit.Entrepreneurship-It is the procedure of running, launching and designing a new business which is ofteninitially medium or small venture. Entrepreneurial venture-Entrepreneur is individual who run and began business with limited planning and assets.It can be defined as the company that places opportunism and innovation at business in order toproduce social or economic value. Enterprise-Enterprise in simple terms is profit company or business which is managed by theentrepreneur successfully along with all the essential resources.
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Different kinds of entrepreneurial venture which is related to typology of entrepreneurshipDifferent types of entrepreneurial ventures-Established organization-An company along with all the essential resources and planning and has existed for longterm period within marketplace is known as well-established firm (Brooks and et.al., 2014). Forexample, M&S is well-established organization and one of the largest retailer in London. Thyare specialises in selling home products, high quality clothing and other goods.Small size social venture-Small size social venture is undertaking by company or firm established by socialenterpriser that want to offer solutions and recommendation to achieve social as well assustainable objective. They mostly work for economy well fare and often to provide service tolocal and residential peoples. For example, Change please coffe firm with their employeesprovide facilities to many peoples and serves the best coffee to them.Large size social venture-Just like small size social venture large size social venture perform and serves its servicesto peoples in order to improve their living standards and help to balance their life easily. Forexample, NHS offer high quality services and health care facilities to all within economy whichis beneficial for them.High growth firms-High progress companies generates significant positive earnings or cash flow, theyincrease a lot of profit faster than the others. For example, Google is the American multinationaltechnology.Typology of entrepreneurship- Social Enterprise-Social enterprise is important for society and for economy, as they help to provide betterheath care facilities. NHS is one of the social company that helping peoples to take control ofwell being and health.Managed growth firm-Managed growth companies balanced their business along with limited resources andassets. They focus on current business plans and try to run their business effectively for example,Change please coffee company awarded for day to day services and for helping nature. They
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