Aspects of Entrepreneurship and Small Business Management- Doc

   

Added on  2021-04-23

19 Pages4821 Words28 Views
Entrepreneurship and small business management
Aspects of Entrepreneurship and Small Business Management- Doc_1
Executive summaryThis report basically deals with different aspects of entrepreneurship and small businessmanagement. This report identifies different types of entrepreneurial organizations at first. Itbears the explanation of the difference between growth and lifestyle firms. Then the reportexplains the overall contribution of different entrepreneurial organizations to the national,regional and local economy of the UK economy. After that, a detail explanation of differentcharacteristics and skills of entrepreneur has been included in this report. Finally, it identifies theimpacts of personal background, economic conditions and cultural differences on thedevelopment of entrepreneurial ventures.
Aspects of Entrepreneurship and Small Business Management- Doc_2
ContentsExecutive summary.........................................................................................................................2Introduction......................................................................................................................................1LO1: Exploration and illustration different types of ventures that can be considered asentrepreneurial.................................................................................................................................2LO-2: The assessment of the impacts of small business organization on the economy..................4LO-3: Determination and assessment of the key characteristics of an entrepreneur.......................7LO-4: Different environmental factors that hinder or foster entrepreneurial activities.................10Conclusion.....................................................................................................................................11References......................................................................................................................................12
Aspects of Entrepreneurship and Small Business Management- Doc_3
IntroductionEntrepreneurship is basically a process that intends to identify new opportunities and turn thoseopportunities into viable products and services. This is not to mean that all entrepreneurialattempts get success and make profits. Actually, the entrepreneurial process has to go throughimmense hardship to be successful. Sometimes there exist goods opportunity but due to someother supporting factors, it may not be always possible to turn every opportunity into viableproducts or service. Therefore, an entrepreneur has to take all types of risks associated with theentrepreneurial activities. An entrepreneur is a person who sets up a business or enterprise takingthe financial and other risks in order to make profit. He has to undergo different types ofactivities which include identifying potentiality of opportunities, comparing and selecting theopportunities, making plans, organizing the elements of production, providing leadership andmost importantly deal with different types of risks arising from the entrepreneurial activitiesWhen all the activities are performed as expected and the entrepreneur becomes able to introducea product or service it can take the form of an enterprise or business organization. So, willingnessand capacity to find out new ideas in order to develop, organize and manage a business unitassuming all risks to make profit is referred to as entrepreneurship (Thompson, J.L., 2009).1 | P a g e
Aspects of Entrepreneurship and Small Business Management- Doc_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
P1 Different entrepreneurial ventures and their relation with typology of entrepreneurship
|12
|3409
|329

Small Business and Entrepreneurship in Social Economy
|10
|2282
|315

ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
|16
|4619
|489

Micro and Small Business Management in the Social Economy
|33
|6309
|455

Entrepreneurship and Small Business Management - McKinsey London
|15
|3498
|52

Entrepreneurship and Small Businesses Management - Assignment
|19
|2801
|27