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Entrepreneurship and Small Business Management Relation

   

Added on  2020-10-23

10 Pages2706 Words89 Views
EntrepreneurshipPolitical Science
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Entrepreneurship andSmall BusinessManagement
Entrepreneurship and Small Business Management Relation_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1: Examine different types of entrepreneurial ventures and their relation with typology ofentrepreneurship.....................................................................................................................3P2: Explore the similarities and differences between entrepreneurial ventures.....................4P3 The impact of micro and small business on the economy.................................................5P4 The importance of small businesses and business start-ups to the growth of the socialeconomy.................................................................................................................................6TASK 2............................................................................................................................................7Covered in ppt........................................................................................................................7CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................9
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INTRODUCTIONEntrepreneurs are the people who uses their skills and creativity for launching their ownbusinesses in order to make some money. These entrepreneurs plays an essential role in thegrowth and development of a business and an economy. Entrepreneurship is a key aspect forbrining new businesses in an economy. This report will discuss the various types ofentrepreneurial ventures and their relation to the typology of entrepreneurship along with thesimilarities and differences between entrepreneurial ventures. This report will also cover theimpact of micro and small businesses on the economy along with the importance of start-ups inthe growth of social economy. Further, characteristic traits and skills of successful entrepreneursand assessment of the key aspects of an entrepreneurial mind-set will be discussed in this report.In the end, Examination of the different environments that foster or hinder entrepreneurship willbe done in this report.TASK 1P1: Examine different types of entrepreneurial ventures and their relation with typology ofentrepreneurshipAn entrepreneur is the individual who runs or owns a business by using their new andinnovative ideas and has the capability to implement them. These business are formed for thepurpose of earning profit. These have the plans and strategies to take effective decisions foraccomplishing the desired growth and success (Barringer, 2015). The business or organisationstarted by these entrepreneurs are known as entrepreneurial ventures. These are the business ofdifferent size and scope whose purpose varies with each other. The entrepreneurial ventures areof different types which are discussed below:Small business entrepreneurship: These businesses are small and limited in size andoperates independently for earning their livelihood. The revenue of such firms depends upon thesector or industry in which they operates. Some examples are Grocery stores, travel agents,electricians etc.Large company entrepreneurship : This business ventures operates at a large level dueto which these needs huge amount of resources in running and executing business functions.These business considers the dynamically natured needs and requirements of the customers in
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