logo

Entrepreneurship and Small Business Management Ventures and Topology

   

Added on  2020-10-04

11 Pages3594 Words120 Views
Entrepreneurship and Small Business Management

ContentsPart 1.......................................................................................................................................................3P1 Different types of entrepreneurial ventures and topology.................................................................3P2 Difference and Similarities between entrepreneurial venture...........................................................4P 3 Effect of micro and small business on economy................................................................................5P 4 Explaining the importance of small businesses on the growth of social economy............................6P5 Characteristics as well as abilities of successful entrepreneur...........................................................7P6 Judging the way features of the entrepreneurial personality reflect entrepreneurial motivation andmindset....................................................................................................................................................8P7 Evaluating the way people background as well as past experience can hamper foster entrepreneurship....................................................................................................................................9CONCLUSION.........................................................................................................................................10REFERENCES..........................................................................................................................................11

INTRODUCTION Entrepreneur is recognized as a person who have knowledge, skills, and core competencies which are required for managing business in a successful manner. Entrepreneurship is basically referred to as the activity of setting up business, taking up financial risk with the purpose of gaining the financial benefits. The potential or willingness to develop as well as enhance business venture is defined as the entrepreneurship. Managing the business is considered to be vas very difficult task. In United Kingdom small medium enterprise are contributing a lot towards the social as well as economic development of the nation.The present project has focus on developing the understanding about the various forms ofentrepreneurial ventures and topology. It also emphasizes on identifying the way small business enterprise contributes to the economic development of nation. The study will highlight the factors which has direct as well as significant influence on the entrepreneurship.Part 1P1 Different types of entrepreneurial ventures and topologyThe four types of entrepreneurship as suggested by Steve Blank are as follows:1.Small Business Entrepreneurship: All the small businesses that are carried out in order to feed the family and make small profits for Instance grocery stores, carpenters, plumbers, electricians, hairdressers etc. come under this category wherein their objective is not to take over an industry or make a lot of profit. The source of funds for carrying out these types of businesses are often friends/ family or small business loans.2.Scalable StartupEntrepreneurshipScalable startup entrepreneurship is somewhat different from that of the small business entrepreneurship as the people who carry out these types of entrepreneurship know from day onethat their vision can somehow change the world. They attract investment from people who are equally crazy about finding the scalable business model and then they invest more venture capital in case they find that the focus scale requires it. 3.Large CompanyEntrepreneurshipLarge companies often depend well upon finite life cycles. The resulting growth is often achieved by sustaining innovation, offering new products that are variants around their core products. large company entrepreneurship can also face pressure for disruptive innovation due to-Changes in customer tastes, new technologies, legislation, new competitors, etc.4.SocialEntrepreneurship

the entrepreneurship that develops products and services in order to solve the social problems or for the betterment of the society as a whole. They may be profit, not profit or hybrid but the goal is never to achieve the market share or create wealth.5.International entrepreneurship: It is recognized as the large organization operating at big scale. The main purpose of such types of entrepreneur is to foster the business growth and expand the operations . Such types of entrepreneur always have focus on identifying as well as fulfilling needs of consumers and gaining knowledge about the strategies adopted by competitor.This tactics assist business unit in gaining competitive advantage and increasing sustainability in the market .Such types of organization can raise funds from banks or other investors (Schaper, ed., 2016). They have advanced technologies which supports the entrepreneurship ventures in minimizing the chances of risk and increasing the operational efficiency.P2 Difference and Similarities between entrepreneurial ventureEach organization have unique strength and weakness. There is significant as well as major difference between the scope of size, international and domestic entrepreneurial business venture. Domestic entrepreneur business venture operates on the small scale and generally execute few operational activities. On the other hand, international business venture operates on large scale. These types of organization have business operations worldwide.Small medium enterprise generally earns low revenue. Whereas, big firms generally havehigh potential to generate high profits and income. Small medium enterprise has limited resources and consists of few employees (Drucker, 2014). On the other hand, international companies have more than 50 workers and have expensive resources which assist an enterprise in expanding business.Small companies have flat organizational structure which allows manager to make quick decision. On the other hand, big enterprise has complex business structure due to which management has to face difficulty in making judgement. Due to the hierarchical structure, there is lack of direct communication between employees working at lower level and top-level managers. In the big companies there is high level of dissatisfaction among workers. Whereas due to the flat business structure, top level management communicate directly with the employees. This factor assists manager ion providing the high level of satisfaction tom employees.Male and female entrepreneur organization. There is major different between both the business venture. In female business venture, there is less investment is made by an

End of preview

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

Related Documents
Entrepreneurship
|16
|5171
|83

Report on Types of Entrepreneurial Ventures and Its Topology
|12
|3786
|126

Introduction to Entrepreneurship and Small Business Management
|15
|4262
|201

Different types of Entrepreneurial Ventures (PDF)
|16
|4703
|209

Entrepreneurship and Small Business Management
|15
|4195
|28

Entrepreneurship: Types of Ventures, Influence on Economy
|15
|4190
|415