Entrepreneurship and Small Business Management

Entrepreneurship and
Small Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
P1 Examination of different types of entrepreneurial venture and their relation with typology
of entrepreneurship.................................................................................................................4
P2 Difference and similarities between entrepreneurial ventures..........................................6
M1 Investigating entrepreneurial ventures in order to gain understanding of entrepreneurship
in context of both public and private sector...........................................................................9
D1 Critical examination of scope of entrepreneurial ventures, growth and development.....9
TASK 2............................................................................................................................................9
P3 Assessing the impacts of small and macro business over the economy using data and
statistics..................................................................................................................................9
P4 Importance small business and start-up's possesses on the social growth of economy. .11
M2 Evaluation of difference small, medium and large businesses bring in economy.........12
D2 Impacts of small business on different levels of economy along with international level12
TASK 3..........................................................................................................................................12
P5 Determining characteristics, traits and skills of entrepreneurs.......................................12
P6 Evaluation of different aspect of entrepreneurial personality and their influence of
motivation and mindset of entrepreneurs.............................................................................14
M3 Exploring various arguments relating with entrepreneurial characteristics...................14
D3 Analysis of motivational drivers of successful entrepreneurs........................................15
TASK 4..........................................................................................................................................15
P7 Examination of how background and experience can hinder or foster the business activities
and entrepreneurship............................................................................................................15
M4 Assessing the link between entrepreneurial characteristics and influences of personal
experience and background over successful entrepreneurs..................................................16
D4 Critical evaluation of impacts background and experience have on the behaviour and
personality of entrepreneur...................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................18

INTRODUCTION
Entrepreneurship is basically activity which undertakes setting up a business with taking
financial risks and hoping for earnings and profits. The person or an individual who develops a
business and bears all its risks and responsibilities are known as entrepreneurs. Entrepreneurship
involves huge risks but also a very beneficial and high reward serving operation. This
assignment report is based on different concepts of entrepreneurship. In this report different
types of entrepreneurial ventures are explained in relation with the typologies entrepreneurship,
also various differences and similarities are seen. Furthermore, impacts of small all and macro
business is seen over the economy along with understanding the importance of small businesses
and start-up’s for the growth of social economy (Cole, 2018). Moreover, two entrepreneurs are
chosen in order to seek understanding about the different characteristics, traits and skills they are
having which creates difference amongst them and differentiate their business practices. Use of
OCEAN model is done in order to gain knowledge about different personalities of entrepreneurs.
Every entrepreneur comes from different background and with different experience these two
factors have use impact on the business practices which they undertake and it is also considered
in this report. By understanding the impact of background and experience the main motive is to
analyse that how these two factors Foster or Hinder the the aims and objectives of
entrepreneurship.
TASK 1
P1 Examination of different types of entrepreneurial venture and their relation with typology of
entrepreneurship
Entrepreneurial ventures
These are those businesses which is started by entrepreneur by producing high or best quality
goods and services for the customers of a particular industry. There are several types of
entrepreneurships and these are known as entrepreneurial ventures. All these ventures have
different characteristics and varies from one another. Some are explained below: