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[DOC] Entrepreneurship and small business management- Assignment

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Added on  2021-01-01

[DOC] Entrepreneurship and small business management- Assignment

   Added on 2021-01-01

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Entrepreneurship and smallbusiness management
[DOC] Entrepreneurship and small business management- Assignment_1
TABLE OF CONTENTSINTRODUCTION..........................................................................................................................1PART 1............................................................................................................................................1P1 Different types of entrepreneurial ventures and relate to typology of entrepreneurship..1P2 Similarities and difference between these ventures..........................................................2P3 Relevant data and statistic to determine impact micro and small business have on theeconomy.................................................................................................................................5P4 the Importance that small businesses and business start-ups on the growth of the socialeconomy.................................................................................................................................7P5 Skills, traits and characteristics of successful entrepreneurs.............................................8P6 how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-set..........................................................................................................................................10P7 How a person’s background and past experiences can hinder or foster entrepreneurship10CONCLUSION............................................................................................................................11REFERENCES.............................................................................................................................12
[DOC] Entrepreneurship and small business management- Assignment_2
INTRODUCTION Entrepreneurship has been analysed as important component for the country thatprovides social and economic growth. Entrepreneurs are identified as those personalities orindividuals which tend to generate new ideas and concepts for establishment of business. Smallbusiness enterprise is continuously achieving growth and recognition in the economy becausethey are continuously providing their focus on innovating their processes, products and services.High growth and recognition in market have provided major opportunities for expansion ofbusiness operations as well as employment for people in local community. Present report isbased on analysis of various kinds of entrepreneurial venture along with different types ofentrepreneurship. Along with this, various similarities and difference between these private,public and voluntary ventures are also discussed. Further, impact of small and micro business oneconomy has been interpreted with the use of relevant data and statistics. In addition to this,various characteristics, skills and traits two successful entrepreneurs have been evaluated alongwith aspect that reflects entrepreneurial personality and mind-set. PART 1P1 Different types of entrepreneurial ventures and relate to typology of entrepreneurship. Process of entrepreneurship is considered as one the most important and creativeapproach towards the business and business activities towards organizing, managing and leadingpeople within enterprise towards organization goal. Entrepreneurs are analysed as thoseindividuals who tends to develop new and innovative ideas for establishment of business inparticular industry. They are usually responsible to generating social and economic growthwithin country. Scope of Entrepreneurship is to generate new employment opportunities andinnovation which increase recognition of country across nations. Further, there are various kindsof entrepreneurial ventures achieved growth in market such as:Non-profits entrepreneurial ventures: It implies to those business enterprises which regulatetheir operations for supporting individuals and local communities’ people. These ventures areestablished by societies, foundations and other charitable organization which aims to helpindividual’s rather maximizing profitability. They just earn money to recover the cost so thatoperations can be regulated in effective manner. National Health Service (NHS) has beenanalysed as non profitable organization which is continuously providing high quality health carefacilities to the people in US and UK. 1
[DOC] Entrepreneurship and small business management- Assignment_3
Large scale ventures: These are also considered as international and global business enterprisewhich is established by private individuals, public and partnerships to operate their business atlarge scale. These ventures are established with an aim of maximizing high profitability andrecognition for longer time duration. Global business always provides emphasise on satisfyingrequirements of consumer through fulfilment of various important facilities that enabledmanagement to achieve growth and recognition at workplace. They always offer individualsamazing discounts and in order to attract people towards their products and service for earningprofitability. Discount retailer stores Like Wal-Mart, TESCO, Sainsbury and ASDA are majorexample of large scale ventures.Small business ventures: These are analysed sole proprietorship or self-owned ventures whichare established by individual at small scale in order to maximize profitability (Lee-Ross andLashley, 2010)a). They are established at small scale because they have less amount of capital but a uniquebusiness ideas or concept to attract customers towards products and services. Serial entrepreneurial ventures: It is type of venture in which business owner monitoroperational activities (Neck and Greene, 2011). They always focus on an effective and uniqueway to carry out operations but effective functioning of daily operations. It helps the business inearning more profitability and sustaining within market for longer duration.Social ventures: These are also analysed as different type of ventures which run the business forimprovement of condition of society (Drucker, 2014). They always tend to consider basicrequirements of people in local communities and providing them innovative products andservices so that they will be able to live a healthy lifestyle. P2 Similarities and difference between these venturesMicro business enterprise is considered as ventures which are established by privateindividuals and it employs less than 10 employees. They operate business at Micro level with anaim of maximizing profits. Further, small business is defined as business with 0-49 employeeestablished with an aim to achieve profits and attracting target customers from a particularsegment. Small business medium enterprise is defined as medium sized business established byindividual, partnership and joint venture to maximize profits. They usually possess employeesfrom 0- 250 for regulation of business operations.There is various differences between these ventures have been discussed below:2
[DOC] Entrepreneurship and small business management- Assignment_4

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