logo

(Doc) - Entrepreneurship and Small Business Management Assignment Solved

   

Added on  2021-01-03

16 Pages4723 Words317 Views
Entrepreneurship
 | 
 | 
 | 
Entrepreneurship and SmallBusiness Management
(Doc) - Entrepreneurship and Small Business Management Assignment Solved_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Types of entrepreneurial ventures......................................................................................12. Similarities and differences between entrepreneurial ventures..........................................33. The way micro and small business impact on economy by collecting and presentingstatistical data.........................................................................................................................44. Importance of small businesses and start-ups....................................................................65. Determination of traits, characteristics and skills of two successful entrepreneurs that reflectmotivation and mind set.........................................................................................................76. The way background and experience can hinder or foster entrepreneurship.....................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
(Doc) - Entrepreneurship and Small Business Management Assignment Solved_2

INTRODUCTIONEntrepreneurship is known as the willingness and capacity to establish, organise andmanage all activities related to a new business. In this context, an individual or group of personstarts a company or business with new ideas to achieve their desired goals and objectives. Smallbusiness starts with an idea or concept and it also includes various types of services, productsand advanced technology. In other words, it is a systematic process in which all outputs of anorganisation are delivered to the end consumers. This report is fully based on HTK Ltd. that issituated at Wherry Quay, Ipswich, UK and provides cloud based horizon, loyalty hub andenormous amount of data. This report covers various types of entrepreneurial ventures with theirtypology. It also includes impact of small and micro businesses through presenting the statisticaldata. Further, it contains importance of a small business and any start-ups that contribute for theeconomic growth of a country. Also, it covers different traits, skills and characteristics of anytwo successful entrepreneurs. Lastly, it includes experience and background of entrepreneurs thatfoster or hinder entrepreneurship. 1. Types of entrepreneurial venturesEntrepreneurial venture Entrepreneurship is the study through which new business is created and ways throughwhich needs and requirements are satified (Storey, 2017). An entrepreneur is considered to beperson who converts an idea into reality which helps to provide innovative products and servicesfor customers.Small scale entrepreneurship: Small businesses are of different types such as travelagent, internet commerce, car repair and plumbers and so on. They are anyone who runpersonal business with limited amount of capital. They hire local employees of familyand friends at local level. On the other hand, small scale businesses collect their fund forfamily and relatives. It deals with the effective business operations and focuses onmanaging work on management to achieve profit. Scalable start-up entrepreneurship: The entrepreneurs are very focus from the first dayof business. Entrepreneurs set vision and mission about any particular activity andincrease market share. In addition, such entrepreneur have ability to attract financialinvestor to invest them and improve financial growth. Their job is find to small business1
(Doc) - Entrepreneurship and Small Business Management Assignment Solved_3

model. There are some change to cover financial risk and increase growth of organisation(Mamabolo and Kele, 2017). In scalable entrepreneurship to so something new andinnovative. It will help to manage the work and some techniques will improve internalperformance of employees. There are major changes that will depend on financial theresources and expansion in market share. Social venture: In this context, social venture creating product and services to be solvesome different kinds of problem and fulfil need. In addition, such kind of entrepreneurare main was development of nation as well as society. There are many numbers ofproblems are employment, some financial support to different organisation. It must beimprove current as well as future conditions improve. Large organisation entrepreneurship: There are large organisation entrepreneurship willfocus on every single factor, which is beneficial for organisation growth. There are manyother factors like updated technology, change in taste and preferences of customer, newcompetitors and legalisation policy etc. All such factor play a most role in separate filedand work upon them (Amato and Pierro, 2017). There are focus is depended on level ofinnovation is fit internal working department. Some organisation will be focus on largeorganisation size as well as future must be change as per ability and other factors. In largeorganisation size, culture and structure of internal work place are more important formotivate employees. On the other hand, different entrepreneur typologies are as follows: Growth entrepreneur: In this context, growth entrepreneur are managed work in properway. They need to make lager amount of investment in particular business. In addition,provide capital form some different external source and help to manage growth rate. Theyalways focus on try to rise level of money and looking to shake things up and reinventtheir business to grow faster. Lifestyle entrepreneur: The main aim of lifestyle entrepreneur are focus on changelifestyle of consumer. They will create a business with as purpose of something new andchange personal life style not for sole purpose. To become a lifestyle entrepreneurship, ifto select a profitable target audience, to build a simple foundation. It will manage work asper overall development and management must be change for increase market share. 2
(Doc) - Entrepreneurship and Small Business Management Assignment Solved_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Unit 9 - Entrepreneurship and Small Business Management
|14
|4139
|100

The Impact of Micro and Small Business on the Economy
|17
|5294
|373

Entrepreneurship and Small Business Management
|16
|5154
|53

(Solved) Entrepreneurship & Small Business Management - Assignment
|16
|5102
|499

Entrepreneurship and Small Business Management Characteristics
|15
|5044
|364

Entrepreneurship and Small Business Management
|23
|4017
|63