Entrepreneurship and Small Business Management

This presentation provides an overview of entrepreneurship and small business management, including different types of entrepreneurial ventures, their similarities and differences, and the significance of entrepreneurship in managing small businesses.

Entrepreneurship and small business Management

 Introduction
 Different type of entrepreneurial ventures
 Similarities and differences between entrepreneurial ventures
 Conclusion
 References
Table of content

Entrepreneurship is a process that includes the activities performed by an
entrepreneur who is capable of seeking foresighted ideas and convert them in profitable
opportunities through bearing all related risks and enjoy maximum part of profit. This
presentation is based on entrepreneurship and small business management and includes
different entrepreneurial venture together with various kinds of typology of
entrepreneurship. Beside this, similarities and difference between these entrepreneurial
ventures are also included in this presentation.
Introduction

Entrepreneurship can be defined as an act of creating and running a successful business
through building a scaling enterprise that generate and yield profits. Entrepreneurship
basically involves an individuals known as entrepreneur who takes responsibility to
bring change in life of people and build something revolutionary and useful for society
through executing an idea along with associated risks.
Different type of entrepreneurial ventures

The difference between entrepreneur and intrapreneurs is provided below in following
table:
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Basis Entrepreneur Intrapreneur
Status in organisation Entrepreneur is the leader or owner of an
enterprise.
Intrapreneur is basically an employee of
organisation.
Role and responsibility Having the responsibility of bearing all
the risks associated with business project
and coordinating various activities to
successful running and managing the
organisation.
They are the individuals having some
entrepreneurial skills and given
responsibility and authority to develop
some new product without incurring any
risk associated with that.

The main kinds of entrepreneurial venture seen in an economy are as follows:
 Private Enterprises- These enterprises are mainly managed and control by some private
individuals and also known as corporate sector of economy.
 Public enterprises- These business organisation are mainly control and hold by central,
state or local government or by some other legal authority of nations.
 Social enterprises- These are the entrepreneurial ventures that work for providing
benefits to society and having the main aim of creating and facilitating equality in the
society through providing support and help to deprived and vulnerable group of society.
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Beside theses three types of enterprise, entrepreneurial ventures are also categorised into
different types on the basis of there of size. The various types of entrepreneurial
ventures on the basis of there size are as follows:
 Micro- Theses are the smallest type of organisation that are mainly operated by a
single or two individuals.
 Small- Theses enterprise are slightly bigger than micro enterprise and employs 2 to
10 people to mange its function.
 Medium- These firms are bigger than small with around 100- 200 employees.
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Typology of entrepreneurship: It basically represent the various group in which
entrepreneur are categorised on the basis of some common feature and characteristics.
The various types of typology of entrepreneurship are as follows:
 Male entrepreneurship: These are the entrepreneurship that are controlled by some
male entrepreneur and are characterised as high risk taker.
 Female entrepreneurship : These kind of entrepreneurship are managed and
controlled by female entrepreneur who are featured as more conservative and likes to
avoid higher risk.
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The main similarities among private, public and social enterprise are as follows:
 All the enterprise working as private, public or social enterprise aim at timely
achievement of their desired goals through maintaining effective coordination among
all the activities of business organisation.
 All these entrepreneurial venture works for benefits of their stakeholders and aim at
providing a healthier and positive workplace environment to its employees.
Similarities and differences between entrepreneurial ventures

Difference between entrepreneurial ventures
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Basis Private enterprises Public enterprises Social enterprises
Ownership These are mainly owned and managed by
private individuals.
These enterprises are controlled and
owned by central, state or local
government.
Theses enterprises can be owned and managed
by private or government or by a combination
of both.
Objectives The main objective of private enterprises is
to earn maximum amount of profit through
attracting more and more customers.
The main purpose of Public enterprise
is to provide basis facilities and
amenities to citizen of a nation that
includes services of police, army,
education, public transportation, etc.
The main objective of social enterprises is to
bring equality in the society through fulfilling
needs and wants of deprived and vulnerable
group.

On the basis of above presentation it can be concluded that various types of
entrepreneurial venture are their in an economy that incudes public, private and social
enterprise. All these organisations are having some similarities like providing maximum
customer satisfaction and diversified objectives like social enterprises works for welfare
of society while private enterprise aim at profit maximization.
Conclusion

 Ratten, V., 2019. Social Entrepreneurship in Sport. In Sports Technology and
Innovation (pp. 73-93). Palgrave Macmillan, Cham.
 Yoon, J. and Sung, S., 2019. The effects of entrepreneurial business process on new
firm creation. Knowledge Management Research & Practice. 17(2). pp.182-191.
References

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