Entrepreneurship and Small Business Management

ENTREPRENEURSHIP AND
SMALL BUSINESS
MANAGEMENT

Contents
INTRODUCTION....................................................................................................................................................................................................... 3
LO1 AND LO2............................................................................................................................................................................................................ 4
Brochure.................................................................................................................................................................................................................. 4
LO1 AND LO2............................................................................................................................................................................................................ 4
Brochure.................................................................................................................................................................................................................. 4
LO3 and LO4............................................................................................................................................................................................................... 8
PowerPoint Presentation.......................................................................................................................................................................................... 8
CONCLUSION......................................................................................................................................................................................................... 25
REFERENCES.......................................................................................................................................................................................................... 25

INTRODUCTION
Entrepreneurial is understood as the method of starting, creating, and starting a business, as well as the individual in charge of
this operation is referred to it as the Entrepreneurs. Individuals are accountable for, and sometimes even accountable besides, gains or
losses, as well as their foremost requirement. These start as tiny enterprises and expand into the worldwide market. These can be
classed as expandable, little, communal, or big organizations, depending on the amount of money that provides. Entrepreneurs operate
their business only intending to make money, which entails assessing customer demands and possibilities and putting them to good
use to be competitive. The whole report includes a list of different sorts of entrepreneurship and their relationship to their kind of
entrepreneurs, as well as a description of some of the commonalities across today’s global economy. This also discusses the
characteristics and talents that separate entrepreneurs from top management. There seem to be a variety of factors that influence
entrepreneurs inside a business, yet this study details the varied effects of numerous factors on a company.

LO1 AND LO2
Brochure
LO1 AND LO2
Brochure
Entrepreneurship can be defined as a position of managing an organization
to profit from market possibilities and contribute cash to start a new firm.
Entrepreneurs are supported in the community since it functions for the
highest level of pleasure and offers civilization new research and science. It
entails the usage of innovative tactics as well as the planned, organizing,
and regulating of their activities. This sort of operator is already coming up
with some new and inventive ideas to implement in their business. That
sort of investor combines reality” and steady management alongside
excellent communication abilities, the ability to define specific goals, and
inventiveness and invention. People do not cling to a single business
enterprise. Once the enterprise is up and running, its responsibilities settle
in, and new projects and opportunities arise.Workers that are hired for a
specific project or concept and provided a task for a set amount of time and
independence are known as entrepreneurs. Entrepreneurs are provided
resources and also some total power to finish a task in the same way that a
businessman might. Individuals are entirely accountable for the task that
has been allocated. Entrepreneurship can be defined as a position of
managing an organization to profit from market possibilities and contribute
cash to start a new firm. Entrepreneurs are supported in the community
since it functions for the highest level of pleasure and offers civilization
new research and science. It entails the usage of innovative tactics as well
as the planned, organizing, and regulating of their activities
P1: Types of entrepreneurial ventures
The specific emphasis on innovative products and services that result in
additional work possibilities for individuals, therefore contributing to
economic progress. This study is focused on entrepreneurs and smaller
business administration, and it explores the similarities or differences
between business and entrepreneurial ventures and also how they connect
to entrepreneurial categorization. This study also assesses the important
aspects of an innovative mentality and the influence of small businesses
just on the economy. Entrepreneurship can be defined as a position of
managing an organization to profit from market possibilities and contribute
cash to start a new firm. Entrepreneurs are supported in the community
since it functions for the highest level of pleasure and offers civilization
new research and science. It entails the usage of innovative tactics as well
as the planned, organizing, and regulating of their activities.
The specific emphasis on innovative products and services that result in
additional work possibilities for individuals, therefore contributing to
economic progress. This study is focused on entrepreneurs and smaller
business administration, and it explores the similarities or differences
between business and entrepreneurial ventures and also how they connect
to entrepreneurial categorization. This study also assesses the important
aspects of an innovative mentality and the influence of small businesses
just on the economy.

Lifestyle Entrepreneurs: These are people that establish a company to
modify personal living but instead to gain money. Such business owners are
typically enthusiastic about their job and believe that they will be rewarded
individually for great achievements. This also appears in the company
activities, since they are a carbon duplicate of the personal views. To give an
example, the SGS business, which is based in the United Kingdom, is the
greatest illustration of a lifestyles aspiring entrepreneur.
Growth Venture: Such enterprises generally economic expansion, with
either a major emphasis upon on organization's long-term objectives to
survive and grow and expand inside the industry in the world. And get a high
level of customer satisfaction and acquire a significant market share,
companies usually come with simple concepts and significant financial
investments. One ideal example to examine for a development effort is
ASDA, which had been founded in the United Kingdom and has since grown
to become the biggest grocery store.
Relation with Entrepreneurial typology
Small Business Entrepreneurship: These would be businesses that function
with little money, rely on existing funds; primarily specialize in essential
goods to compete in a global marketplace. There seem to be fewer costs and
benefits, as well as fewer opportunities for value creation. Workers in all
these sorts of businesses are typically members of their boss's or current
owner's relatives. Bakeries, dairy farms, restaurants, and a variety of other
businesses fall under this category.
This sort of operator is already coming up with some new and inventive
ideas to implement in their business. That sort of investor combines reality”
and steady management alongside excellent communication abilities, the
ability to define specific goals, and inventiveness and invention. People do
not cling to a single business enterprise. Once the enterprise is up and
running, its responsibilities settle in, and new projects and opportunities
arise.
Workers that are hired for a specific project or concept and provided a task
for a set amount of time and independence are known as entrepreneurs.
Entrepreneurs are provided resources and also some total power to finish a
task in the same way that a businessman might. Individuals are entirely
accountable for the task that has been allocated.
An individual who contributes funds and is accountable for activities in a
company process is called ownership. Individuals who own these control
the primary operations of a firm are known as founders. Directors are
solely involved in the creation of their plans and priorities, as well as the
management of operational difficulties in a company. Professionals arrange
materials, form groups, and allocate tasks to those squads only with help of
respective leadership. Before administering and perform its responsibilities,
entrepreneurship is divided into several categories.
Survival Venture: Such a category of people focuses on helping firms
survive in a global marketplace by meeting their financial and operating
underwriting standards. There are numerous instances of survivalist
ventures in Great Britain, including MOMA food outlets, Internet sellers,
amongst others. Entrepreneurs operate on a modest budget and sell readily

Start-up with scalability Company: Such management is usually
dedicated to bringing anything unique to the community and therefore is
extremely inventive and inventive in form. This effectively employs
diverse approaches and technologies accessible to the company to provide
unique results. Some greatest instances to examine include Facebook,
Instagram, and Google, all of which demonstrate strong consumer
happiness and growth.
Major Company Enterprise: This category comprises businesses that
engage with several items and strives for optimum user satisfaction. Such
businesses focus on one particular commodity then expand to a variety of
goods in response to customer needs. Companies additionally put a lot of
money into delivering appropriate products. Such businesses are based on
the principle of welfare programs and provide vital services to those that
need them. Such groups get their funding from contributions and
government-sponsored organizations because they aim to provide benefits
rather than earn a profit. UNICEF is a great sign of liberal entrepreneurship
since it helps wives and children when their rights are violated.
Analyze similarities and differences between entrepreneurial ventures
Similarities:Every work aims to develop has several characteristics. There
are still some aspects that seem to be common to all sorts of business
ventures, it may be claimed. The fundamental goal of a surviving aspiring
entrepreneur is to stay in business, which may have been accomplished
through profitability and appropriate resource allocation. Luxury businesses
typically operate only intending to earn their target audience via excellent
earnings, which necessitates appropriate inventory management.
Nowadays, in the way to attain development and expansion objectives,
businesses must concentrate on making a profit while maintaining their
excellence.
Differences:
Survival Ventures Lifestyle Ventures Growth Ventures
 Many
businesses
rely on
personal
assets
including
current
income,
family, and
supportive
friend's
business
operations.
 That flow of
labour in an
organization is
less
complicated
since the
owners make
the choices.
 Companies obtain
cash by obtaining a
bank loan from
such a bank or
financial institution
and paying interest
on that debt.
 Tasks are delegated
from high to a low
level of
responsibility,
demonstrating a
complicated and
thing decision-
making procedure.
 • Even
though they
are focused
on the
expansion of
the
company,
companies
have just a
significant
financial
demand,
which is
why they'd
want to
accept
financing
from high-
end banks
and must
also
guarantee
their
properties
for this large
sum.