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Entrepreneurship and Small Business Management - Assignment

   

Added on  2021-02-20

13 Pages2984 Words30 Views
EntrepreneurshipProfessional Development
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Entrepreneurship andSmall BusinessManagement
Entrepreneurship and Small Business Management - Assignment_1

Table of ContentsINTRODDUCTION...................................................................................................................3ACTIVITY 1..............................................................................................................................3Types of entrepreneurial ventures..........................................................................................3Similarities & difference between entrepreneurial ventures..................................................5How micro and small business impact on the economy........................................................5Importance of small business and business start-ups.............................................................7ACTIVITY 2..............................................................................................................................7Characteristic traits & skills of successful entrepreneurs......................................................7Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset............................................................................................................................9How background and experience can hinder or foster entrepreneurship...............................9CONCLUSION........................................................................................................................11REFERENCES.........................................................................................................................12
Entrepreneurship and Small Business Management - Assignment_2

INTRODDUCTIONEntrepreneurship is the activity of an entrepreneur which start the new venture in order to generate above average profits. In this regard business has been started so that sales can be maximize by satisfying the desires of consumers and it help the corporation to grab more market share. In the success of a business management plays a vital role in context to the growth. To better this concept Make it Work has been chosen which is global business consultancy firm which advise building entrepreneurs on how to be successful with their venture. There are various topics has been covered in this report such as: to explain various types of entrepreneurial ventures, similarities & difference among entrepreneurial ventures. Along with this it also discuss about impact of small businesses on the economy and to assesskey aspects of an entrepreneurial mindset.ACTIVITY 1 Types of entrepreneurial ventures Entrepreneurial ventures are the business of different sizes & scope that are managed by an entrepreneur which having distinct purposes. If entrepreneur has innovative idea than small start ups can grow its business within short period of time. It is required to provide better products and services in order to fulfil the desires of consumers and price should be reasonable and there are different types of entrepreneurial ventures which are as mention below: Small business entrepreneurship: These businesses operates at small level and they are small in nature and required less capital. Its revenue generation depends on that industry in which they belong. They emphasis to generate more profits so that they can sustain for a long term. As an instance travel, grocery stores etc (Wright and Stigliani, 2013).Scalable start up: In this type of business a person makes creative idea and look for an action plan. It is recently presented business enterprise who will be developed in selected market. In this type of business entrepreneur won’t dispatch business in vast market.Large company entrepreneurship: These type of ventures are operated in large market and have more resources to perform the business activities. They more emphasis towards innovative technology in order o satisfy the desires of consumers.
Entrepreneurship and Small Business Management - Assignment_3

Typology of entrepreneurship: The Revitalised Tycoons: They are more likely to be middle aged with a slight bias towards females but they are generally experienced & have held other positions.The time honoured traditionalists: These are more likely to be male and older and they are more confident due to their achievements and want to create something of their own.
Entrepreneurship and Small Business Management - Assignment_4

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