Entrepreneurship and Small Business Management

This presentation provides an introduction to entrepreneurship and small business management, discussing the process of launching and running a new venture, the role of entrepreneurs in economic growth, and the typology of entrepreneurship. It also explores different types of entrepreneurial ventures, such as small businesses, scalable start-ups, large companies, and social entrepreneurship. The presentation highlights the objectives and similarities between these ventures and concludes with a discussion on the importance of entrepreneurial ventures in the economy.

Entrepreneurship
and Small
Business
Management

INTRODUCTION
Entrepreneurship is the process of launching, designing and
running a new venture in the global market (Brush and
Welter, 2019). Whereas, entrepreneurs are those who are
accountable in taking high risk for the business growth and
development. They are contributing more in the upliftment
of the nation economy because new and small businesses
are generating huge job opportunity for the general public.

Different typology of
Entrepreneurship
Social entrepreneur typology- It consist those kind of entrepreneurs
who are passionate to work for the welfare of the society and
dedicated to solve social issues in order to improve the living
standard and life style of specific community in an effective manner
(Kunaka and Moos, 2019). This type of entrepreneurship consist
non governmental organisation, charity firm and trusts etc. These
firms are basically offer social services to resolve social problems.

Various types of
entrepreneurial ventures
Entrepreneurs refers to as individual to open up a new
venture is accountable to handle all profit and loss
incurred by the organization in the cut throat
competitive world (Demirel and Tamvada, 2019). In
the market entrepreneurs come up with those product
and services which are demanded by customers.

Difference between
entrepreneurial ventures
Basis Small
business Scalable
start up Large
company Social
entrepreneu
rship
Characteristic Low capital is
required to
start up the
business in the
market. No
government
interference is
done in this
type of
business.
Scalable
business
concentrates
more on new
start up
business so that
huge profit can
be maximized.
Goods are
produced in the
market
according to
the taste and
demand of the
customers by
large company.
Their main
characteristic is
to serve the
society for the
betterment
(Wang and
Wang, 2019).

Continue...
Basis Small
business Scalable start
up Large
company Social
entrepreneur
ship
Objectives The
objective is
to earn
livelihood.
To invite
free
enterprise
and to
stimulate
them to
invest in
their new
business.
Their main
objective is
to come up
with
innovative
goods and
services in
the market.
Social
entrepreneur
ship
objective is
to uplift the
community
by solving
the issues
prevailing in
the open
market place
(Mafundu
and Mafini,
2019).

Similarities between
entrepreneurial ventures
Basis Small
business Scalable
start up Large
company Social
entrepreneur
ship
Motive To satisfy
the needs of
the customer
is the main
motive.
The motive
of this firm
is to turn
their creative
thought or
idea into
profitability(
Landström
and Harirchi,
2019).
Innovation
in the exiting
goods and
services is
the main
motive.
To uplift the
living stand
of the people
towards
betterment is
the motive
of social
entrepreneur
ship.

Conclusion
From the above it can be concluded that there are various
types of entrepreneurial ventures and are related with
typology of entrepreneurship. Brief explanation of the
entrepreneurial ventures such as, Small business
entrepreneurship, large entrepreneurial, Scalable start
up entrepreneurship and Social entrepreneurship are
done so that concepts regarding them can be
enhanced.

References
Brush, C., Edelman, L. F., Manolova, T. and Welter, F., 2019. A
gendered look at entrepreneurship ecosystems. Small Business
Economics. 53(2). pp.393-408.
Demirel, P., Li, Q. C., Rentocchini, F. and Tamvada, J. P., 2019. Born
to be green: new insights into the economics and management
of green entrepreneurship. Small Business Economics. 52(4).
pp.759-771.
Julien, P. A., 2018. The state of the art in small business and
entrepreneurship. Routledge.