Entrepreneurship and Small Business Management

Entrepreneurship and Small
Business Management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
a). Determination of various entrepreneurial ventures along with their relation with typology.1
b). Exploration of similarities and differences between entrepreneurial ventures......................3
TASK 2............................................................................................................................................5
a). Assessment and interpretation of data or statistics to understand the impact of micro and
small business over economy......................................................................................................5
b). Explanation of the importance of small businesses and start-up's towards the growth of
social economy............................................................................................................................7
TASK 3............................................................................................................................................7
a). Determination of the characteristic, trait and skills of successful entrepreneur along with
differentiation with normal business manager............................................................................7
b). Assessment of the entrepreneurial personality that reflect motivation and mind set............8
TASK 4............................................................................................................................................9
a). Explanation regarding ascertainment of background and experience contribution towards
hindering or fostering entrepreneurship .....................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
.......................................................................................................................................................11

INTRODUCTION
Entrepreneurship is the process which includes designing, launching and running of a
new business at market place. In this process, main actions are taken from the side of
entrepreneur who work towards the identification and exploitation of new ideas along with
gainful opportunities for establishment of successive small business at business environment.
The person who took such actions known as entrepreneur. The success of an enterprise is
depends over the risk taking capability of entrepreneur. Involvement of higher number of
innovations is the only key to attain success at such diversified market place and business
environment where large number of external factors are present. The current aim of this report is
about development of knowledge to become successful entrepreneur (Bridge and O'Neill, 2012).
The aspects which are covered in the report includes identification of different type of
entrepreneurial ventures along with their relation to the typology of entrepreneurship,
exploitation of similarities and differences between various entrepreneurial ventures, assessment
and interpretation of data or statistics to ascertain the impact of micro and small business over
economy and determination of business start-up's and small businesses over growth of social
economy. This also covered about characteristics, traits and skills of an successful entrepreneur
along with their differentiation from normal business manager, entrepreneurial personality that
reflects motivation and mindset and contribution of background & experience towards hindering
or fostering the entrepreneurship.
MAIN BODY
TASK 1
a). Determination of various entrepreneurial ventures along with their relation with typology
Entrepreneurship: It is the process which includes performance of various activities
related to the starting of new business i.e. designing, launching, running and controlling. This
also includes the exploitation of new ideas and adherence of risks for the purpose of attaining
success within stipulated period of time. Generally, these are of four different types such as
small, large, social and scalable. Acceptance of uncertainties and implementation of innovation
regarding the same is the only key way for establishment of organisation within diversified
business environment (Preuss, 2011).
1