Entrepreneurship and Small Business Management - Docs
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Added on 2020-10-22
Entrepreneurship and Small Business Management - Docs
Added on 2020-10-22
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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY..................................................................................................................................11. Examination of different types of entrepreneurial ventures and explain how they relate tothe typology of entrepreneurship.................................................................................................12. Explaining and explore the similarities and differences between entrepreneurial ventures....33. How will the micro and small enterprises will impact the growth and development of theUK economy. Explain with example...........................................................................................54. Importance of small businesses and start-ups contribution to social economy after Brexit....75. Determining the characteristics, traits and skills of two successful business of twoentrepreneurs and aspects of how entrepreneurial personality reflect motivation and mind-set.96. How background and experience can hinder and foster entrepreneurship............................10CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
INTRODUCTION Entrepreneurship is the activity to initiate and place business idea in an organization thatlead to the establishment of the firm to earn profits. An enterprise is the business entity that willhelp in the generation of the decent amount of revenue.The report will lay emphasis on different types of entrepreneurial ventures and the typologyof entrepreneurship in the market. Other than this, the similarities and differences of theseventures are been taken into consideration. The impact of small and medium business enterpriseson an economy and the effect of Brexit on it is been analyzed. Traits and qualities of twosuccessful entrepreneurs showcasing the motivation and mind set. Other than this, the factorshindering and fostering the entrepreneurship are been analyzed.MAIN BODY1. Examination of different types of entrepreneurial ventures and explain how they relateto the typology of entrepreneurshipAn entrepreneurial venture is a starting stage of the business company that will include theproper management of the business ideas to generate revenue. This will help the organisation toenhance the measures and the investment placed in setting up a business to get appropriate ROI.Various entrepreneurial ventures operates within the market that carry out the businessactivities and operations this is required to be managed and handled in a very effective manner.The entrepreneur is the person who carries out the business operations and activities in mucheffective and significant manner to generate a decent amount of profit. Besides this, theentrepreneurial activities and action plan are the processes that lead to the implementation of thevarious tools and techniques that will help in the placing of an entrepreneurial firm in the market(Burns and Dewhurst, 2016). When an entrepreneur performs the entrepreneurial activities andapply the innovative concepts, idea and his personal resources with knowledge and skills, it leadsto the development of an enterprise.There are various types of entrepreneurial typologies that operate in the market and thuswill help in the proper placing of the different form of firms in the market. These are as follows:Serial entrepreneurs: They are the type of entrepreneur’s who use their knowledge,skills and resources to establish a business idea or venture and when it is been established1
successfully, they move on to other venture and entrepreneurship idea to expand theirbusiness.Owner manager: they are the people who owns an enterprise and also manages itsuccessfully to carry out the business operations and activities that are been carried outthe organisation. Some of major ventures of entrepreneurial activities and entrepreneurship are as follows:Scalable start up: this are the innovative ideas and set ups that can be 'scaled' ormeasured by having a good growth and effective following of the wide range of businessoperations that will help the cited enterprise to improve the growth rate of the firm byadopting suitable business model. It helps the organisation to penetrate within the largeand new market and generate huge amount of revenue.Small level organisation: They are quite bigger than the micro level organisation but hasthe limited scope as compared to medium level organisation. They have a meagre scopeof growth and development and may or may incorporate the creative and suitablemeasures to have a sustainability and market expansion.Large Scale ventures: They are the organisation to have the maximum scope of growthand development that will help the firm to carry out the business activities andoperations. They have a good amount of resources and raw material and thus can impactthe growth and development of the other smaller and less scalable firms to a greaterextent.Social enterprise: This are the organisations that will help the firm to carry out thebusiness operations and activities which will help in setting up of an effective measuresto develop innovative products and services for the betterment of society. Their main aimis to develop the high quality products and services that will help in the solving a specificproblem of society (Schaper, 2016).On the basis of this analysis and research process, this can be said that the effectivefollowing of the business operations and action plans will lead the firm to carry out the businessactivities in much suitable manner. Besides this, it will help in improving the perception andknowledge about different types of entrepreneurial ventures and entrepreneurship. Other than2
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