Entrepreneurship and Small Business Management : Assignment Sample

Added on - 21 Jul 2020

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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................3P 1 Type of Entrepreneurship Ventures and different type of entrepreneurship and it scope3P 2....................................................................................................................................................4Difference between small,scalable, large and social entrepreneurship..................................4M 1...................................................................................................................................................5D 1....................................................................................................................................................5P 3....................................................................................................................................................5Impact of small and medium business on local and national economy..............................5P 4....................................................................................................................................................6Importance of small business and start-up s in growth of social economy............................6M 2...................................................................................................................................................7D 2....................................................................................................................................................7PART 2............................................................................................................................................7P5 Characteristic and traits of successful entrepreneur..........................................................7P6 Personality of entrepreneur get affected by mindset and motivation................................8P7 Process of entrepreneurship affect by person's background of experience.......................9CONCLUSION................................................................................................................................9REFERENCE.................................................................................................................................10
INTRODUCTIONEntrepreneurship is procedure of creation and launching of businesses like start-ups orsmall business. It supports in generating and creating employment opportunities for people.Present report describes about type of entrepreneurship, their characteristics and scope ofentrepreneurship (Schaper and et.al 2014). Difference an similarities between private , public ansocial enterprises have been discussed. Importance and impact of small business organisation onlocal and social economy are also explained. Impact of small companies on regional andinternational economy have been illustrated.P 1 Type of Entrepreneurship Ventures and different type of entrepreneurship and it scopeEntrepreneurship is defined as ability and will to develop a business along with riskassociated in order to gain profit. There are 4 type of entrepreneurship which are as follows:Small business entrepreneurship:This businesses generally includes consultant , small start-upshops, travel agents, small saloons and general stores of UK. This type of business can be run byany one. Entrepreneur of this business usually hire local people and sometime member of theirfamily to reduce the risk (Eid and El-Gohary, 2013). They define success of their business isvery simple. They just make profits and feed the family of themselves. Funding for these type ofbusiness is collected from friend and family of the entrepreneur.Scalable Start-up Entrepreneurship:They are not like small business entrepreneur.Entrepreneur of this type of business with the aim to change the world . Funding is provided tothe by big venture and business entities of UK. They hires experts and bright employees. theirjob is to find out business model which are scalable in nature. After finding these model theyfocus on getting more funds from venture to expand their business.Large Company Entrepreneurship:Large enterprises have long term life cycle. They growusing innovation and invention in their products. Changes are made in their product andbusiness follows the expectation and need of customers. Rapidly changing customer demand andneeds forces company to make new products.Social Entrepreneurship:Socialentrepreneur's are the one who make products and services inorder to fulfil social needs . They are non profitable business. Social entrepreneurs works withaims to transform system that can remove poverty from the society. They also work towardsenvironment challenges that country is facing
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