Solved Entrepreneurship and Small Business Management - Assignment

Added on - 21 Feb 2021

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Entrepreneurship andSmall BusinessManagement
INTRODUCTIONEntrepreneurship is chain of activities related with the commencing new businessactivities and venture ship by bearing various kinds of risk factor in order to earn hugeprofitability to remain always competitive in marketplace.Entrepreneurs are very muchimportant for an business as they bring new idea into practice to remain always competitive inmarketplace.As economy is very muchevaporablein nature, to remain stabilises having skillsand knowledgeto start the unique concept. Entrepreneurial skillsare very prominent in regardsof demandto establish the business and every business either it is large or small have to beentrepreneurial skills to survive in business environment. Entrepreneurs and their skills is verymuch important in today's competitive world as employment rises day by day so it helpsforestablishing opportunities of job opportunities. This assignment is based on thevariouskinds ofentrepreneurial ventures and theirabstractionwith typology of entrepreneurship. It also includessimilarities and difference in between the entrepreneurial ventures with data and statistics torelate with micro and small business and theireffecton economy. Further it elaborates thesignificance of enterprises and star tup in economy of the nation. It also includes thecharacteristics traits and skills thatis very much significantpotential to become a successfulentrepreneur. It also includes the entrepreneurial aspects that shows the entrepreneurial aspectwhichindicatethebusinesspersonmentalityandcondition. At last it includes thegroundandeducationwhich hinders orsurrogateentrepreneurship by using examples.TASK 1P1Variouskinds of entrepreneurial ventures and typologies:Entrepreneurialundertakingwhich focused onsupplyor establishing the advisoryemploymentto the early and midphaseinstitution(Amatoa and ., 2017). Respective kindof ventures occurs the high level of returns in respect of various kind of uncertainties to reap
major outcomes. In it various kinds of activities or actions includes from small to the large scaleorganisation that are as follows:there aredifferentkinds of entrepreneurialundertakingthat are as follows:Small business entrepreneurship:In today'senterpriseworld the majority of the business still operate at small scale, in themarket of UK most businesses are small scale for their livelihood. In small businesses includesthe grocery stores, electricians, hairdressers and travel agents that initially operate at very smalllevel and then expand their market in order to gain sustainability and profitability.Scalable start-up entrepreneurship:Scalable start ups and entrepreneurs are the silicon valley entrepreneurs and the venturesinvestors too. Respective entrepreneursoutsettheirundertakingafterinformedfrom the day oneregarding the vision tomodification intheglobalin order to remain competitive in marketplace(Brush and Greene, 2015.). By attracting investment from the equally crazy kind of investorsfrom the venture capitalist by hire the brightest one in order to remain always competitive inmarketplace. The major work is todiscoverout one of most repeatable and scalable businessmodel. Scalable start ups in innovation clustersformthelittlepercentage of entrepreneurs andstart ups with help ofoversizecurveand topullrisk capital.Large company entrepreneurship:Large companies have themortalkind of life cycle with the help of sustaininginnovation, byin order to remain competitive in marketplacethat helps to copeabouttheproducts. They build products and services as per the change in customer tastes, advent of newtechniques, legislation and commencement of competitors in order to beat them.Social entrepreneurship:Social entrepreneurs are the individuals whocentringon the building the products andservices tounderstandor resolveto resolve concerns ofconsumers (Burns and Dewhurst,2016..). As the goal of scalable entrepreneur is tobrandthe worldpeaceful placeto live not tooccupy market or wealth for founders. Social entrepreneurs are no profit or hybrid kind ofenterprise for the welfare of society.Entrepreneurial typology:Lifestyle entrepreneurs :
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