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Entrepreneurship and Small Business Management Assignment | Microsoft

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Added on  2021-01-02

Entrepreneurship and Small Business Management Assignment | Microsoft

   Added on 2021-01-02

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INTRODUCTIONEntrepreneurship refers to the activity of establishing business by taking financial risk inorder to earn profits. In this context, the following assignment will aid in enhancingunderstanding of different types of entrepreneurial ventures and its relations with typology. Thesimilarities and differences between different types of ventures will be made in this report.Interpretation and assessment of relevant data and statistics will be made in order to discuss theimpact of micro and small business on economy. Eventually, the importance of small business ongrowth of social economy will be discussed. PART 1P1 Different type of entrepreneurial ventures and its relation with typologyEntrepreneurial ventures can be defined as an organisation that places innovation andopportunism at its core in order to produce economic and social value. There four types ofentrepreneurial ventures which are explained below:Small business enterprises: Small business are those enterprises which have limited paidup capital and low market share (Burns, 2016). Limited employees have been employedin small business and they target small range of customers. For example, groceries stores,books stores, etc. Mostly male and female entrepreneurs manage small businessenterprises.Scalable start-up: Scalable start-ups are new and innovative organisation whichembarked with some particular motives (Schaper et.al., 2014). By offering different typesof products at reasonable cost, scalable start-ups able to fulfil the needs and expectationsof customers. Serial entrepreneurs are associated with scalable start-up ventures. Large scale organisation: These are just opposite of small scale organisations. Theyhave large market share with enormous capital which focuses on manufacturing range ofproducts and have ample of customers in the market. For example, Microsoft, Tesco,Morrisons are example of large scale organisation.Social Entrepreneurial ventures: Social entrepreneurial ventures are those ventures whoworks for growth and development of societies and communities voluntarily. Theremotive is not to earn profits rather they serve society by manufacturing different productsor providing different kind of social services. Social entrepreneurs work in theseorganisations. For example, Oxfam, etc. 1
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