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Report Entrepreneurship and Small Business Management

   

Added on  2019-12-18

14 Pages4857 Words163 Views
Entrepreneurship And SmallBusiness Management

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurship..........................................................................................................................3P2 Similarities and difference between entrepreneurial ventures...............................................4TASK 2............................................................................................................................................6P3 Asses and interpret the relevant data and statistics, illustrate how micro and small businessimpact on the economy...............................................................................................................6P4 Explain how important small business and business start-up will contribute to the growthof the social economy after brexit...............................................................................................7TASK 3............................................................................................................................................8P5 Determine the personal traits and characteristic of two successful entrepreneurs and howthey are different from the other business managers..................................................................8P6 Asses how the aspects of the entrepreneurial personality reflect the motivation and mindset.....................................................................................................................................................9TASK 4..........................................................................................................................................11P7 How experience as well as can hinder or foster entrepreneurship.......................................11CONCLUSION..............................................................................................................................12REFERNCES.................................................................................................................................13

INTRODUCTIONEntrepreneurship in which there is an activity of designing, managing and starting newfirms. They are those person who take risk and formulating the plan for business. In the presentresearch project report, there is a exist on Brexit and European union that gives the moreopportunities to the small and start-up enterprise ( Blackburn,Hart and Wainwright, 2013). Inthe report there is a discussion on the type of venture entrepreneurial and analyse the similaritiesas well as difference among all the entrepreneurial. In this research there is also a two successfulentrepreneurial characteristic are different form the business manager. Furthermore, there is alsostudy on the experience boost or hinder the entrepreneurship. TASK 1P1 Different types of entrepreneurial ventures and explain how they relate to the typology ofentrepreneurshipEntrepreneurship that majorly those who take risk in the uncertainty situation and make astrategic plan to allocate the limited resource more effectively. In the Brexit,UK there aredifferent types of entrepreneurship who start-up their business that leads to economic growth inthe countries. Thus, the small business enterprise they are the main contributor for the economicdevelopment. The entrepreneurship are those who have a capability and will power to establish ,manage and organise a venture firm and take risk for the purpose of taking risk. There arevarious type of ventures entrepreneurship in the UK that are explained below-Innovative entrepreneurship- This type of venture entrepreneurship are very innovativein ideas of start-up a new firm. They introduce a new techniques, ideas, technology and anew product in the new market (Bridge and O'Neill,2012 ). They contribute to thecountry for the economic development by create something innovate and these typesentrepreneurship are take the new challenges. Thus, it will assist them to create a newimage in the mind of its customers. It include mainly small medium enterprises,innovative business, young and high-growth firms. They take the risk as well as take thenew opportunities without any hesitation that help them to establish a unique ideas for themanagement. Adoptive entrepreneurship- In this type of venture entrepreneurship not develop anynew innovative ideas, technology, process, methods and any new product. They only

adapt those innovation which are develop by the innovative entrepreneurship. Thus, it canbe said that they imitate the new ideas of others firms and they suitable for the developingcountries ( Bridge and O'Neill,2012). The people in these country are those who are inneed of imitating entrepreneurship as they are not easily adjust the new technology. Forthis reason, these people imitate the knowledge, skills, methods and process etc. Thenature of these venture entrepreneurship are adoptive that leads to face less uncertainty ascompared to the innovative entrepreneurship. They alter its existing process, methods,technology the gives them an opportunity to improve its goods more effectively. Fabian entrepreneurship- The nature of Fabian entrepreneurship are very lazy they noteasily accept the new innovative ideas. They used the old traditional methods, processand technology in the manufacturing process. Thus, these entrepreneurship are fear toaccept the innovative technology as they only adapt when the innovate methods are testedby others. In that situation the used new method in the production process and also whenthey start become failure in the competitive market. It means that they are not take thenew challenges as well as not interest in accept the new technology. Drone entrepreneurship – In that entrepreneurship they run their business activitieswith the old traditional methods in the manufacturing process. The nature of theseenterprise is very conservative as they does not like to establish or adopt the newinnovative technology. Thus, in the long time period they loose their existence if theyface any difficulty in the competitive world. It is because in the failure situation they doesnot like to adopt the new technology that leads loose its presence in the competitivemarket. Serial entrepreneurship- They are those type of entrepreneur who come together withthe new innovative ideas and develop a new firm. They often come with new ideas tostart new venture and it give responsibility to other people.P2 Similarities and difference between entrepreneurial venturesThere are various type of venture entrepreneurship that have some similarities as well asdissimilarities that are described below-Similarities and difference in the innovative and adoptive entrepreneurship

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