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Entrepreneurship And Small Business Management in UK

   

Added on  2020-12-29

15 Pages4448 Words263 Views
Entrepreneurship andsmall businessmanagement assignment

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of entrepreneurial ventures and relate to the typology of entrepreneurship:1P2 Similarities and differences between entrepreneurial ventures:............................................2TASK 2............................................................................................................................................5P3. Relevant data and statistics to illustrate how micro and small business impact on theeconomy......................................................................................................................................5P4. Importance of small businesses and business starts-ups to the growth of social economy. .6TASK 3 ...........................................................................................................................................7P5 characteristic traits and skills of successful entrepreneurs:...................................................7P6 Entrepreneurial aspect's personality reflect entrepreneurial motivation andmindset:......................................................................................................................................9TASK 4..........................................................................................................................................10P7 Rlevant example how Background and experience can hinder or fosterentrepreneurship.......................................................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12

INTRODUCTIONEntrepreneurship in small business determine the study how to started new business andmanage, plan and development of business (Zacca and et.al., 2015). The term entrepreneurship inbusiness who someone planes, organizing and developing the business very passionately. Theentrepreneurship who are take all the responsibilities in business and make growth in business.In this report, introduction of small organization in UK which is Midsummer house isconsidered and it reports will define the entrepreneurship personality in small enterprise. In thisreport also include the different types of entrepreneurship ventures and related to the typology ofentrepreneurship and similarities and difference between entrepreneurship ventures or howmacro and small business impact on the economy. This report also defines the importance ofsmall business, starts-up for growth in social economy and characteristics, traits and skills ofsuccessful entrepreneurship and it also includes background and experience that can hinder orfoster entrepreneurial personality reflects entrepreneurial motivation and mindset.TASK 1P1 Different types of entrepreneurial ventures and relate to the typology of entrepreneurship:Entrepreneurship- Entrepreneurship in business person who make idea to start businessand idea to create product and selling to the customers. Entrepreneurship in business who take allmajor decision in business and make growth of the business and entrepreneurship who controlthe business and adopts financial responsibilities and major decision- making in business.Entrepreneur- Person who are in business takes risk and make profits for business andpromote organisational products to consumers, for example Mid house Summer which is a smallbusiness organization which supply health conscious products to people and the manager takesall the responsibilities of decision- making supplying good manage market promotion Type of entrepreneurial ventures- in the UK economy many kinds of entrepreneurventure started their new business in UK and growth of the business to present many kinds of theproducts in market (Kuratko, 2016). Form that many kinds of entrepreneur are started businessin small and big level those are-Small business Entrepreneurship- small businesses are start-ups to small platform andtheir aim is to make profit. Small businesses are consultants, travel agents, grocery stores,1

internet commerce stores, carpenters, plumber etc. the small business entrepreneur mostlyinvolve to maintain business include their family member and friends in the business.Scalable start-up Entrepreneurship- In this business, their main vision is to change theworld, and the aim of scalable business is to grow and change world and start newstrategy to bring stability in business and like investor who help to start scalable businessin their organisation.Large company Entrepreneurship- Large company main purpose to grow the businessfinite and they offer new products and variety of products to customers, retain them andalso provide new technologies to customers to face new competitors in market (Welterand et.al., 2017).Social Entrepreneurship- Its aim is to provide products and services which solve socialproblems of organizations. Typology of Entrepreneur- The entrepreneurial typology is which divide entrepreneurin groups like public, private, government etc. is defined the all entrepreneur are worked indifferent organizations and their purpose.Public sector entrepreneurship-It defines public organization which develops businessto serve profits. Relationship to the entrepreneurial venture of public, the entrepreneur are wholaunch their venture in public and the public sector entrepreneurship are adopted their products.The public sector entrepreneur main aim to social care of people which are not afforded thegoods and service of the people.P2 Similarities and differences between entrepreneurial ventures:Similarities and differences between entrepreneur venture- entrepreneur which who startbusiness and run business to make planning organizing development and take risk in business.Moreover, entrepreneur ventures are business services and work in troubled companies. The similarities in entrepreneurial venture are as follows:2

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