logo

Impact of Small Business and Entrepreneurship on Social Economy

   

Added on  2021-02-20

16 Pages4633 Words294 Views
Business DevelopmentLeadership ManagementEntrepreneurshipSociology
 | 
 | 
 | 
ENTREPRENEURSHIP AND SMALLBUSINESS MANAGEMENT
Impact of Small Business and Entrepreneurship on Social Economy_1

Table of ContentsINTRODUCTION .......................................................................................................................3L O 1 and LO 2.............................................................................................................................3P1) Various types of entrepreneurial ventures.........................................................................4P3) Impact of micro and small business on..............................................................................6Economy...................................................................................................................................6P2) Similarities and differences between.................................................................................4entrepreneurial ventures...........................................................................................................4P4) Importance of small business in growth of........................................................................7social economy. .......................................................................................................................7L O 3.............................................................................................................................................9P5) How successful entrepreneurs are different from managers..............................................9P6) How personality of entrepreneur reflects their motivation and mindset.........................11L O 4...........................................................................................................................................12P7) How experience hinder or foster entrepreneurship. ........................................................12CONCLUSION ..........................................................................................................................14REFERENCES............................................................................................................................15
Impact of Small Business and Entrepreneurship on Social Economy_2

INTRODUCTION Entrepreneurship refers to the process of developing, launching a new start up which isalso known as Entrepreneurship. It can also be defined as the willingness of the person todevelop and manage a new venture by taking huge risk. So that, business will generate profits.Entrepreneur are the individuals that starts a new venture with the aim of earning profits. SmallBusiness are the business that employs few number of employees and also generate lowrevenue as compared to other large size business (Fayolle, A. and Gailly, 2015). There arevarious forms of small business such as partnership, private companies or sole proprietorshipetc.The Report will outline different types of ventures of entrepreneurs , similarities and variousdifference between ventures of entrepreneurs, the impact of small business on economy. TheReport will also describe the importance of small business for growth of social economy,features of entrepreneurs that differentiate them from managers, the personality ofentrepreneurs that reflect their mindset and experience of entrepreneurs that hinder or promoteentrepreneurship.ACTIVITY 1L O 1 and LO 2Booklet
Impact of Small Business and Entrepreneurship on Social Economy_3

P1) Various types of entrepreneurial ventures.Entrepreneurial ventures refers to the newbusiness started by the entrepreneur fordevelopingnew product or services for the customerswith the aim of earning profits. There arevarious types of entrepreneurial ventures suchas -Micro – Micro business is a type ofentrepreneurial venture that requires lessamount of funds for starting the business andit employees less number of workers such asless than 10 employees. For example -Bakery.Small – Small enterprise is another type ofentrepreneurial venture which is operated bythe entrepreneur at a small scale. Smallbusiness requires few number of employeesand it generates low amount of revenue peryear. For example – Grocery stores.Medium –Medium size enterprises areoperated by the entrepreneur at lower scale ascomparedto large size enterprises and operated at scalehigher than small enterprises. It employs morethan 100 workers but less than 1000employees. For example – Consultancy firms.Large – These enterprises are operated by theentrepreneur at large scale as compared toother types of entrepreneurial ventures. Itrequires large amount of funds for starting theP2) Similarities and differences betweenentrepreneurial ventures.Entrepreneurial ventures refers to the venturestarted by the entrepreneur such as smallbusinesswith the aim of earning profits. There arevarious types of entrepreneurial ventures thatmay be started by either an individual or by agroup of individuals. Most of the ventures arestarted when entrepreneur perceives thedemand of the products or services in themarket. There are various similarities betweendifferent types of entrepreneurial ventures.These are as follows -All the types of ventures whether it issmall, medium or large size enterpriseinvolves some element of risk that is tobe borne by the entrepreneur.All the types of business venturesrequires the generation of a new ideafor starting a new venture.Micro, Small, Medium or large sizeenterprise all requires more or lessnumber of employees for performingthe various functions of theorganization. All types of entrepreneurial venturesrequires investment of funds forstarting a new business.Difference between entrepreneurial ventures -
Impact of Small Business and Entrepreneurship on Social Economy_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurship & Small Business Management
|16
|4377
|60

Entrepreneurship and Small Business Assignment (Doc)
|16
|4444
|242

(Doc) Entrepreneurship & Small Business Management Assignment Solution
|16
|4373
|77

Entrepreneurship and Small Business Management
|17
|5516
|50

Report on Entrepreneurship and Small Business Management
|12
|4466
|186

ENTREPRENEURSHIP AND SMALL BUSINESS ENTERPRISE TABLE OF CONTENTS
|18
|4717
|383