Entrepreneurship and Small Business Management

This document discusses the major types of entrepreneurial ventures, the differences between them, and the significance of small business and startups in the social economy. It also explores the background and experiences of two well-known entrepreneurs, Peter Jones and J.K Rowling.

Entrepreneurship and
Small Business
Management

Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
P1. Discuss the major different types of entrepreneurial venture related with entrepreneurship.
................................................................................................................................................1
P2. Demonstrate about the difference between two entrepreneurial ventures as per their
similarities..............................................................................................................................2
Task 2...............................................................................................................................................4
P3. Highlight the examine of the data relevant about the using of tactics in determining of
macro and small entrepreneurship..........................................................................................4
P4. Analyse the significance of small business and business start ups towards the growth of
the social economy................................................................................................................5
Task 4...............................................................................................................................................7
P7. Illustrate about the entrepreneurship context of entrepreneurial background and
experienced through hinder and foster business perspective.................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
An Entrepreneurship is a systematic propaganda which creation of new business ideas,
operate and organised with monitored to all the activities are considered in entrepreneurial
background (Frederick, O'Connor and Kuratko., 2018). The individual who having desired to
purpose his/her professional career and invested own capitalism for gained more market and
business exposure through generating the innovative and creative business idea that contains
favourable outcomes known as Entrepreneur. According to this report it will includes the basic
understanding the types of different entrepreneurial ventures, by elaborating the differentiate
between two entrepreneurial types of ventures, influence of small business and macro impact in
the economy based along with importance highlight about the start up and small business
towards the social economy factor and the background as well as experience through hinder and
foster can influence their entrepreneur ship growth.
Task 1.
P1. Discuss the major different types of entrepreneurial venture related with entrepreneurship.
Introduction of the Entrepreneurship:
The processing of dreaming, cycling of being towards the managing of the new company
or corporation related to operated by the individual. In order to contributing the efficiency for
maximise the profit as well as the growth in the competitive market is a basic objective which
involved as in particular entrepreneurs (Malecki, 2018).
Types of entrepreneurship venture: Small Business Entrepreneurship: This type of venture of entrepreneurship is consists
to operate the smaller areas or limited boundaries through invests the less capitalism
with having a motive of the day to day targets accomplish. Social entrepreneurship: Organisation that constructs to not having any form of
interest towards the profit aspect in monetary as it optimised their working regulates to
development in the society along with reduces that serve to make comfort and formed a
better and healthier surroundings. Large Entrepreneurship: It comprises about enterprise which is formed larger scale
and incurred the wide range of capitalism as they provide help to operate to fulfilment
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the company efficiently. As they have objective to making the better exposure and huge
profit maximisation as well as the long terms business stability. Start Up Entrepreneurship: As this business specify about to focus to creativity
implementation in business the enhancement of new unique business concept which
provides some benefits for the society. By optimising the funds through financial
stability required within the market exposure that help to gained knowledge and other
type of innovation to brings the profitability in the organisation. Male and Female Entrepreneurship: The proficiency of the male business owner as
they have big desirable aim to became the entrepreneurship as they are risk taker ability
with high potential through new innovation which allows the financial loyalty.
As on the other side the Female Entrepreneurship to better organised to manage
and designed the better presentation of business with convincing to the clients. Female
entrepreneurs are leads to comprises and implement more efforts to motivate and guide
its employees and with frequently communication as they are also passionate about to
motivate the fashion industry and other small scale business which are usually not
easily handle by women.
P2. Demonstrate about the difference between two entrepreneurial ventures as per their
similarities.
By considering the differential between of the major entrepreneurial ventures in the
perspective of the business oriented factors as well as the professionalism through guidance
within the exposure and provides the employment that generates the productivity that driven by
the performance as well as to contribute the business capitalism for enhancing the economy the
better development and motive to gain the effective profit maximisation (Barba-Sánchez and
Atienza-Sahuquillo, 2018). As to encoding the approaching two highly entrepreneurship
comparison though skills and knowledge that generates the accomplishment factor. Small and
Large business entrepreneurship business are elaborated below:
Basis Small Business
Entrepreneurship
Large Business entrepreneurship
Objective Having the major business
objective is to captured the
To highlighting the essential
aims for large business
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basic day to day target which
occurs in the routine or week
basis as well as through small
investment influence the
product to fulfilment the
customer needs and wants.
venture is to making the wide
range of profit maximisation
and also gain the better market
exposure with high
competency to expand the
business agenda through better
productivity while
performance in the market
(Kraus and et . al., 2019).
Operation level By incurred the less
productive of operation
activity where Small business
company only focus towards
their product and service
manufacturing factor along
with to reduce the low
requirement of high efficiency
of raw material and expenses.
They have basically operates
the high efficiency of market
exposure as well as the
workforce to maintain the
goodwill in the competitive
business environment. They
needs the advanced level of
machinery and captured the
more retention of customer
from big venture of business
performance.
Geographical area served In Small business having a
limited areas served their
business which they basically
impact with their product
through high profit margin is
less quantity that occurs the
product market growth is not
appropriate segments and
workforce having low
productivity. As they have not
international networking.
Through the large business
entrepreneurship having high
impact business serving areas
in domestic as well as
international to procure the
product specification on the
market development inherent
in the foreign countries.
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Number of employees. The possibility of employees
join to work in the small
organisation up to 100-250
people are jointly operate the
business and contribute their
skills and knowledge for
accomplish the aims of
organisation. Small
entrepreneurship allows the
low wages as per their
capabilities (Mitra, 2019).
According to the large
entrepreneurship business the
chances of employee serving
is the more than 500. As this
type of organisation hires the
high skilled and knowledge of
candidates where they having
huge potential and better
productivity.
Financial need (Similarities)
They need to focus more
capitalism for investing
purpose as to operate and
growth of their business in
high level of competitive
business.
Large entrepreneurship is
focusing more investment in
their venture to approaching
the higher corporate clients or
successful business
personality that driven to
explore their business ideas to
maintain their objective
fulfilled.
Task 2.
P3. Highlight the examine of the data relevant about the using of tactics in determining of macro
and small entrepreneurship.
On the basis of the role and importance to the local economic level the interference of
macro and small business entrepreneurship impact in the social and political background benefits
factor consists to engage the larger the employment rate opportunities of those who are
established enough to gaining the more presence of opportunities are allocate to the needful
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peoples through which they belongs the big entrepreneurship company (Julien ed., 2018). By
highlighting the following the importance and role to comprising are given below:
 Provide the authentic Jobs: Through the development of the economic factor as in
overall figure out structure highlight through generates the effective level of
employment. By involvement of the macro and small business influence it brings the
structured and improvise the stability of specific small region of economy as these
moderate kind of venture facilitates the low productive job which fulfil the
requirement of people who are potential to get employed and able to survive their
family by delivering the better lifestyle.
 Brings the independency or Autonomy factor: As it been considered that small
business ownership is having the long term stability along with professionalism way
to improvised the standard of living by enhancing the economic of scaling through
approaching the moderate traits of product availability in the market to influence the
buying power of people. As many factor where macro and small business construct
the low budget of restaurant and Hotels or other professional company whose having
less capitalism investment regarding which it operates through small region of the
areas and also optimised the sufficient profits.
 Internal factor of economic consideration: Through the presence of small and macro
business venture it helps to improvised the domestic level of economic through
enhance the influence of financial supports (Dupuis, 2018). For example: Smaller
featured of banks operates the moderate factor of funds allocate as loan or accounting
serving provide through zero balance feature that helps the middle class families
where they can easily assort the flexible nature of service that provide by the macro
and small business.
P4. Analyse the significance of small business and business start ups towards the growth of the
social economy.
By mentioned and design the relevant importance factor of small business and Start ups
through other business like social and economical are commenced the influence of small and
start business brings the positive outcomes in organisational background.
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 Effective Stimulus of Innovation: The procurement of having ability to create and
enhance the positive innovation that occurs to allows the new outcomes productivity
contributes through better many other companies like successful or goodwill
companies. But venture like small and start ups are includes the different types of
platforms where individual participate to sharing their view and innovative ideas of
business related where start ups are making convince to the small business as well as
larger entrepreneurs are highly determined new dynamic changes in the corporate
environment.
 By Enhance the productivity level: To accommodate the platform where small
companies and start up entrepreneurship basically focuses towards the potential
workforce to contribute their efficient skills for making the targets fulfilled within
the allocate period of time (Bosma, Sanders and Stam, 2018). By providing the
favourable outcomes by proficient employees small venture and start ups facilitates
the better platform opportunity where they easily promote their manpower as well as
productivity enabled for better financial growth.
 Improvised the power of buying: On the influence of small and start up companies
products are manufactured and enabled in market where they targeted those
customers on which they can afford the product as per their buying capacity. These
companies are mainly looking for middle class consumer in terms of economic price
of product on which consumer can easily buys and negotiate in terms of costing.
 Employment generates from optimum localities: Every small and Start up business
having objective to dealing and operates the business activities by optimising the
employment opportunities through domestic level of boundaries and determined the
high efficiency of manpower as they can generates the better optimum product of
start up and small business venture (Acs and et . al., 2018). Therefore, it provides the
optimum professionalism platform to perform and understands the business
requirement for stability and improvised the standard of economic factor in terms of
lifestyle, increasing of better supply and demand, more jobs are incurred in local
perspective.
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Task 4.
P7. Illustrate about the entrepreneurship context of entrepreneurial background and experienced
through hinder and foster business perspective.
Most of the aspect to being a successful entrepreurship is having a influencing physical
evidence factor of background and experiences of a particular entrepreneurs as their legacy to
become the most proficient personality in the corporate environment (Chen, 2018). It basically
highlights the business and all the attributes which involves that make push the individual for
approaching the better professionalism career and gain the success. In the below following the
discussion is demonstrate about two well known entrepreneurs from United Kingdom based on
the Peter Jones and J.K Rowling’s is considered their background and experiences to be given
below:
Peter Jones:
 Background: Peter Jones was born 18 March 1966 from Brokenshire, England,
where he has completed his schooling from Desborough School. He is a dropout from
college in his early age he had dream to become a successful entrepreneur where it
very famous that his dedication provide a honour to be appointed Commander of the
order of British empire in 2009 from which his net worth at 74 pound millions.
 Experiences: At the age of 16 he set up the his own venture in Informational
Technology where he made computers under his own brand after that he has to face
loss of around 2,00,000 pound approximately. Within in mid twentieth he opened his
bar of cocktail. After gaining of moderate success he had founded his own Dragon
Den which is American Television show name company which is offered by the
company Red Letter Days
J.K Rowling’s: Background: She was born at 31 July 1965 as she is a British writer, author, producer
and entrepreneur. She has completed her school program from St. Michael’s Primary
School. In 1982 she met an incident that Rowling entrance exam was not accepted due
to some reasons, After her mother death she was heartbroken and inspired to be become
the successful author as well as business consultant.
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 Experiences: In 1995, she becomes famous by published her books of Harry Potter and
the Philosopher Stone which was typed in the old man version of manual typewriter. In
1997 Christopher’s offers her for 1000 books where she get received advance payments
and her book was distributed in the libraries that brings the huge success in all over
international as it becomes high seller book. After that she did not stop herself and
enhancing to consulting the business development activities and owned her own library
in United kingdom many film director had approached her for their project and she
becomes the excellence content writer (Dupuis, 2018).
CONCLUSION
As above discussion of the report of entrepreneurship is come across in conclude way to
present the types of venture in entrepreneurship in the corporate environment as well as
comparison them to seek their similarities and scope of effective in market segment.
Highlighting of the relevant presentation of macro and small business in local sector as in benefit
and negative point of factor, apart form it the role of small and start up business venture in the
social economy background impact in positivity outcomes factorised. In the final phrase of report
the background and experiences are determined in the possibility to become the successful
entrepreneurs by approaching two business personality who are successful enough and belong
from United Kingdom.
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REFERENCES
Books and journal
Frederick, H., O'Connor, A. and Kuratko, D.F., 2018. Entrepreneurship. Cengage AU.
Malecki, E.J., 2018. Entrepreneurship and entrepreneurial ecosystems. Geography Compass.
12(3). p.e12359.
Barba-Sánchez, V. and Atienza-Sahuquillo, C., 2018. Entrepreneurial intention among
engineering students: The role of entrepreneurship education. European Research on
Management and Business Economics. 24(1). pp.53-61.
Kraus, S., and et . al., 2019. Digital entrepreneurship. International Journal of Entrepreneurial
Behavior & Research.
Mitra, J., 2019. Entrepreneurship, innovation and regional development: an introduction.
Routledge.
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Julien, P.A. ed., 2018. The state of the art in small business and entrepreneurship. Routledge.
Dupuis, A., 2018. Entrepreneurship: New perspectives in a global age. Routledge.
Bosma, N., Sanders, M. and Stam, E., 2018. Institutions, entrepreneurship, and economic growth
in Europe. Small Business Economics. 51(2). pp.483-499.
Acs, Z.J and et . al., 2018. Entrepreneurship, institutional economics, and economic growth: an
ecosystem perspective. Small Business Economics. 51(2). pp.501-514.
Chen, Y., 2018. Blockchain tokens and the potential democratization of entrepreneurship and
innovation. Business Horizons. 61(4). pp.567-575.
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