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Entrepreneurship and Small Business Management - Unicorn Grocery

   

Added on  2020-10-05

14 Pages4060 Words204 Views
Entrepreneurshipand Small BusinessManagement

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Types of entrepreneurial ventures and their interrelation to typology of entrepreneurship...1P2 Similarities and differences between entrepreneurial ventures.............................................3TASK 2............................................................................................................................................4P3 Relevant data to illustrate how micro and small business impact on the economy...............4P4 Importance of small businesses and start-ups to the growth of social economy...................5TASK 3............................................................................................................................................6P5 Characteristic traits and skills of successful entrepreneurs that differentiate them fromother business managers..............................................................................................................6P6 Entrepreneurial aspects personality reflect entrepreneurial motivation and mindset............7TASK 4............................................................................................................................................8P7 Background and experience can hinder or foster entrepreneurship.......................................8CONCLUSION................................................................................................................................8REFERENCES .............................................................................................................................10

INTRODUCTIONEntrepreneur is the person who has some idea through which they can make providesatisfaction to society. Through such activities profits can be generated and this is effective formaking good image in market. While making changes in roles and responsibilities methods hasto be considered through which changes can be possible in current trends. In initial thee arepossibilities of no profit, so there is requirement of proper analysis (Barringer, 2012). In societyas changes are taking place in society, but for small business it is tough to accept changes. Thisreport is on based on Unicorn grocery, which is located in Manchester, England. This companywas founded in 1996 and operates in various parts of UK. This report enhance knowledge aboutvarious types of entrepreneurial ventures and their typology, similarity and difference betweenentrepreneur ventures, impact of small business, factors which may affect key aspects whichaffects mindset of entrepreneur. TASK 1P1 Types of entrepreneurial ventures and their interrelation to typology of entrepreneurshipEntrepreneurship: Entrepreneurship is the approach which focuses in starting newbusiness and this is effective for making new business established in market. In initial days ofentrepreneurship, there are possibilities of loss, so individual must ready to face financial crisesand this helps to get good and effective image (Storey, 2016).There are various types of business enterprises and this helps to get good image inmarket, with the help of use of factors through which changes are possible in roles andresponsibilities. There are many reasons for which business is running. There is use of policiesthrough which changes are taking pace in their working style and level of working. There issome reason for which association is set up, if that target is not achieved then this affectsbusiness goals. Manager has to make policies through which they can deliver changes to workersand they can work as per policies. Some of the ventures are discussed below-Scaleable start up entrepreneurship- This is the company which works to get profits andthis affects position of company. To earn good profits, entrepreneur is ready to take risk and itaffects business goals and targets. Main aim of such enterprises is to get use of various policiesthrough which society can change demand of customers with their product and services (Baum,Frese and Baron, 2014). 1

Small business entrepreneurship- In such association, there is need of policies which areeffective for making changes in society, thee businesses runs at small level, which works formaking changes in their roles and responsibilities. To set up small business, there is need of 50people and 5 Crore capital. Sales of association does not raise more than 6 million. Plumber,electrician, etc. are covered under this category (Bosma and Levie, 2010).Social entrepreneurship- There are many issues which are faced by people living insociety, hence social entrepreneurship works for making changes in roles and responsibilitiesthrough which social life of people can be improved. There is requirement to analyse what has tobe done through which issues can be removed and social satisfaction can be possible. Trust,NGO, etc. are example of so0cial entrepreneurship.Large entrepreneurship- This is the largest type of organisation, so this is effective tomake changes in their roles and responsibilities. There are thousands of workers working toachieve targets. They promote their product and services through which profits can be achieve.There is requirement of changes in actual actions so current trends can be followed (Santos,2012).Typologies of entrepreneurship There is use of policies through which business can be bifurcated on the basis of variousbusiness. This is effective for making changes in activities of company. There are sometypologies which has to be considered through which actions can be differentiated.Social Entrepreneur: There are some social reasons which affects growth of economy.This entrepreneur is the person which has to make changes in business actions and with the helpof use of policies, they can modify image of country. This helps to get touch with use offunctions which are efficient for achieving targets.Serial entrepreneur: This type of entrepreneur are effective as they have to make changesin business activities (Bruton, Ahlstrom and Li, 2010). They have new and innovative thoughtswhich they can apply to daily work. This helps to know what has to be done with effect tochange in social need. The ideas are not necessary be achieved. Female entrepreneur: These entrepreneur are very demanding these days . As there is useof factors through which they can apply changes and this is effective for improving image offemale in society.2

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