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[DOC] Entrepreneurship and Small Business Management - Assignment

   

Added on  2021-02-20

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Entrepreneurship and SmallBusiness Management
[DOC] Entrepreneurship and Small Business Management - Assignment_1

ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3Types of Entrepreneurship Ventures and their Typology............................................................3Impact of Small Business organization on Economy of United Kingdom..................................8TASK 2..........................................................................................................................................10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
[DOC] Entrepreneurship and Small Business Management - Assignment_2

INTRODUCTIONThe entrepreneurship is considered as capacity or willingness to make, organize and manage aventure along with different type of risks to make profit. In simple language entrepreneurship isall about starting a new business that is consist of different people who are connected toorganization with certain mutual goals (Burns and Dewhurst, 2016). Entrepreneurship refers tonew and innovative idea and opportunities with large developed business. This report isproviding brief of different type of organization to know how they conduct business in marketplace. This report is analyzing different type of entrepreneurship ventures and how they arerelated to typology of entrepreneurship. Similarities and differences between of variousentrepreneurship venture is also provided in study. For both private and public sectorentrepreneurship is explained. Different type of relevant data is provided to perform an analysisto know the impact of micro and small entrepreneurship venture on the economy. On basis ofprovide data importance of small business and business startups. Information of successfulentrepreneur is provided in report. Different personality traits and skills of entrepreneur areexplained in the study. Reflection of personality traits in individual entrepreneur also covered inreport. The impact and influence of person’s background and experience is analyzed on anindividual entrepreneur.TASK 1Types of Entrepreneurship Ventures and their TypologyThe entrepreneurship and its types only can be understand by what the entrepreneur andentrepreneurship exactly means. Entrepreneur is the person who is founder and maker oforganization. Various investments and decisions made by entrepreneur in organization to gainprofit and all the risk in decision making and business is handle by them to make profit in theend.There are different type of entrepreneur ventures that are considered in entrepreneurshipventures. Before getting into this it is important to know about what is entrepreneur andintrapreneur. Basically the entrepreneur is a person who is the founder of the new organizationand runs the company (Runyan and Covin, 2019). The leader and owner of organization areconsider as entrepreneur but intrapreneurs are the people who are associated with the
[DOC] Entrepreneurship and Small Business Management - Assignment_3

organization and helps the entrepreneur to run the organization by contributing with their skillsand knowledge. Entrepreneurs’ of the organization are known as employees. The differententrepreneurship venture are small business entrepreneurship, scalable startup entrepreneurship,large company entrepreneurship and social entrepreneurship.Small Business EntrepreneurIn the market place small type of business entrepreneur are in maximum number and thisorganization or business get very low marginal profit. Purpose of this organization to makeenough profit to keep survives in market to manage personal living. Individual business likegrocery and electronics stores and professions like plumber and consultants come into thiscategory (Volery and Mazzarol, 2015). In the small business organizations the fund is collectedthrough small business loans and family investment. Small businesses are mainly of personal andprivate type.Growth: possibility of growth in this type organization is maximum in the market place. Causeof small size implementation of innovation and change management is too easy. For better modelthis organization can get easy high marginal profit.Scope: Scope for small venture is high and have international exposure but only thingorganization need is experienced employees and financial support.Scalable Startup EntrepreneurThis type of organization starts with a vision to make change in market or world. Funding forthis organizations comes from venture capitalists and they hire best employees for theirorganization (Yan and Yan, 2016). For scalable startup business entrepreneur their businessmodel is dependent on their short term and long term goal. Ones they get settle in the marketplace then they need further investors for more growth in future. This type of startup get enoughprofit that is required for their growth and market performance. Facebook, Instagram and onlineshopping platforms are initially scalable startups. This organizations are normally privateorganization cause their purpose is only to make profit.Large Company Entrepreneur
[DOC] Entrepreneurship and Small Business Management - Assignment_4

This type of entrepreneurship is performed by a well settled organization and through thisprocess they try to launch a new product in the global market. This type of entrepreneur venturesare good with their core products but to get more profit they try innovation in company business.In order to develop new product this organization needs new and innovative technology to makethe effort successful (Albort-Morant and Ribeiro-Soriano, 2016). The companies like google,Microsoft and Samsung comes in this category. This type of entrepreneur are also considered asprivate entrepreneur ventures.Social EntrepreneurshipSocial entrepreneurship ventures are established of found by the entrepreneur with purpose ofsolving different social problems and issues. Often this organizations are known as nonprofitable organizations. The only purpose of organization is to serve the people and society tomake world a better place. Some of these organization provide free service to the customer andsome of this take operation charge to keep providing efficient service to peoplev(Ateljevic andPage, 2017). Social entrepreneurship venture are funded by government and charity collectedfrom different sources. NHS and Red Cross United Kingdom are non profitable organizationsthat are considered as social entrepreneurship ventures.Similarities and Differences Between Various Entrepreneurship VenturesPublic SectorPrivate SectorRoleWork of these organizations is toprovide better services to customersand citizens for free of minimumcharge to make the services deliver.Role of private organization is to earnmaximum profit by selling its productto the consumer and provide them withbest suitable services for relevantamount of service charge and addedprofit.CharacteristicsThis organizations areowned by the governmentand all the required fundsareprovidedbygovernment.Managementoforganization is performedby government officials.Public sector organizationor entrepreneurship isfinancially independentThe private organization are owned bya group or individual(Welter andGartner, 2016). All the funds required fund tothe company are collectedthrough different proceduresthat are mainly consists of loanand by sell shares of company.Management of organizationare done by company authoritythat is same to the public sector
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because it has not anyproblem of fund acquisition(Brush and Greene, 2015).This are used to cooperateand allied with other publicsector companies.This organization helps thegovernment to implementtheir plan with maximumefficiency.organization.Private sector organizations arebounded with the limitation offunds because all the fund usedby the organization comes fromprofit that is earned byconducting business.Mostly this organization worksalone and only perform alliesand cooperation to get higherprofit.Only work to improvecompany profit.ObjectivesObjective of this organization is toserve the citizens of country.Objective of private sectororganization is to earn pure profit fromits actions.SizeSize of public organization basedon its goals and target audience.Mostly work on national level.Size of private organization is alsobased on the target audience. Also itcan work on international level.All organizations or entrepreneurship ventures performs different activities that areimportant for success of business. This activities are similar to all. This is consist is marketingactivity of entrepreneur. The entrepreneurship is a process that is used to design, launch, and runa new business. Often this new business are small in size and people who are developer of thissmall organization are known as entrepreneur (Allen and Truman, 2016). There are differentactivities need to be done by entrepreneur and this activities are essential for entrepreneur. Theseactivities are- planning the product, brainstorming the next business, mentoring someone, makethe business strategy, study the human behavior and networking. These activities make theentrepreneur more effective with a new business, this is important for the organization to workon their product to stay competitive in market. All the entrepreneur need to do is to work on newand innovative business ideas to improve the business of their company in competitive market.They also need to provide guidance to the employees to keep them up to date with the goals andtargets of organization. Entrepreneur the leading edge to the organization and it is theirresponsibility to plan the next move of organization in the market place. They also need to studythe behavior of employee and customer to meet their need and run the organization efficiently.Networking and reading activities are also important for entrepreneur(Rey-Martí, Porcar andMas-Tur, 2015). The networking is basic need for the growth of organization and study help the
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