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Entrepreneurship and Small Business Management INTRODUCTION 1 ASSESSMENT

   

Added on  2021-01-03

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Entrepreneurship and SmallBusiness Management
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Table of ContentsINTRODUCTION...........................................................................................................................1ASSESSMENT 1.............................................................................................................................1P1 Different types of entrepreneurial ventures and explain how it relates with typology ofentrepreneurship.....................................................................................................................1P2 Explore similarities and differences between entrepreneurial venture.............................2M1 Investigate diverse range of entrepreneurial venture demonstrate understanding ofentrepreneurship in public and corporate sector.....................................................................4D1 Critically examine scope, development and growth of entrepreneurial ventures.............4P3 Interpret and assess relevant data and statistics to illustrate micro and small businessesimpact on economy.................................................................................................................5P4 Importance of small businesses and business start-ups for more growth of the socialeconomy.................................................................................................................................6M2 Differences small, medium and large businesses make to the economy and applyingrelevant data and statistics......................................................................................................7D2 Critically examine how small businesses have an impact on different levels of thecompany.................................................................................................................................7ASSESSMENT 2.............................................................................................................................8P5 Determine characteristic, traits and skills of successful entrepreneurs that differentiatethem from other business managers.......................................................................................8P6 Assess how aspects of the entrepreneurial personality reflect on entrepreneurial motivationand mindset.............................................................................................................................9M3 Explore and examine different lines of arguments regarding entrepreneurial characteristic..............................................................................................................................................10D3 Analyse the characteristic traits, skills and motivational drivers successful entrepreneurs,that supported by specific example......................................................................................10P7 Examine with using relevant examples and how background and experience can hinder orfoster entrepreneurship.........................................................................................................11M4 Analysis link between entrepreneurial characteristic and influences of personalbackground and experience to specific successful entrepreneurs........................................11
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D4 Critically evaluate how background and experience influence entrepreneurs in positiveand negative manner with compare and contrasting............................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONEntrepreneurship is a dynamic process of creating incremental wealth and innovatingthings of value that bearing welfare of an entrepreneur. It provides civilisation with enormousamount regarding goods and services that increase growth of social welfare. With this regard,entrepreneurs can change way and improve standard of living (Roig-Tierno, Alcazar andRibeiro-Navarrete, 2015). Present study, it covers different types of entrepreneurial ventures and relates withtypology of entrepreneurship. Furthermore, it explores similarities and differences betweenentrepreneurial venture. Moreover, it interprets and assess relevant data with statisticalinformation that impact on micro and macro small business. In addition to this, different traitsand skills of successful entrepreneurs differentiate them from managers. At last, it includesexamine background and experience that hinder and foster entrepreneurship. ASSESSMENT 1P1 Different types of entrepreneurial ventures and explain how it relates with typology ofentrepreneurshipEntrepreneur is an individual who starts and runs business with considering limitedresources and planning. They are responsible to diminish risks and rewards in the businessventure. Furthermore, business idea usually encompasses with new product and services. In otherwords, entrepreneurship can be defined as unique and creative ideas that implemented to developdesired level of outcomes. More profitability and effectiveness will be generated that helps togain more profits and create something new (Lee, Hallak and Sardeshmukh, 2016). There aredifferent types of entrepreneurial ventures and their typology which explained under here:Entrepreneurial venturesSmall business entrepreneurship: These are the individuals who starts and run theirbusiness with limited resources and planning. They are responsible to take all risks andrewards in business venture. Business venture also considered implementation of ideathat is usually encompasses towards new product and service. For instance, travellingbusiness, grocery stores, etc. (Ferreira, Loiola and Gondim, 2017). Scalable start up entrepreneurship: Scalable start-up entrepreneurship business takes aninnovative ideas and searches for repeatable business model that turn to high growth and1
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