Entrepreneurship and Small Business Management.

Entrepreneurship and
Small Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.......................................................................................................1
P2 Explore the similarities and differences between entrepreneurial ventures .........................3
TASK 2............................................................................................................................................5
P3. Data interpretation illustrating the ways in which micro as well as small businesses
impacts on economy....................................................................................................................5
P4. Importance of small businesses together with start-ups towards social economy growth....6
TASK 3............................................................................................................................................7
P5 Determine the characteristic traits and skills of successful entrepreneurs that differentiate
them from other business managers.............................................................................................7
P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation
and mind-set. ...............................................................................................................................9
TASK 4............................................................................................................................................9
P7 Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship...........................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCE ................................................................................................................................10

INTRODUCTION
Entrepreneurship is defined as continuous activity of designing, launching, and running a
new business in competitive environment which can help to regulate and operate the business
effectively. A person who comes up with new ideas and innovation for the purpose of
establishing and running a business continuously in changing environment is known as
entrepreneurs. This is important for all organization to understand the needs and wants of their
customers and bring the uses of different strategies and planning which can help to operate and
maintain the all activities effectively (Aldridge and Audretsch, 2017). To sustain in competitive
environment change and innovation is highly needed as it can help to operate a business
continuously and attaining the higher profitability in changing environment. This report is based
on entrepreneurship and small business that increase the understanding how a business can be
develop by using innovation, skills, and traits. The case study in report about Zuber and Mohsin
Issa who are successful entrepreneur in business environment are operating their business
effectively by using their skills. This report covers range of venture types, impacts of small
businesses on economy, determination of entrepreneurial mindset, and different environment that
foster or hinder entrepreneurship.
TASK 1
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship
Entrepreneurship – This can be explained as process which uses by a person while
designing, adopting new technology, running, and launching the new business in changing
environment which can help to increase the sales and profitability. In all activities, entrepreneur
and business person is responsible as it take risk and accountability of all functions which are
performing by it for the purpose of starting a business (Bandera, Bartolacc and Passerini, 2016).
According to Isdarmanto (2016), entrepreneurship is all about innovation and new
activities which are introduced by a person in business environment and maintain the good
performance.
In business environment there are different types of entrepreneurs that are as defined:
Difference between types of entrepreneurial venture
Serial Large Social Scalable
1