logo

Entrepreneurship and Small Business Management- PDF

   

Added on  2020-10-05

17 Pages4897 Words488 Views
Entrepreneurship and SmallBusiness Management
Entrepreneurship and Small Business Management- PDF_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Types of entrepreneurial ventures and how they relate to the typology of entrepreneurship................................................................................................................................................1P2. Similarities and differences between entrepreneurial ventures........................................1TASK 2............................................................................................................................................3P 3. How micro and small businesses impact on the economy. ............................................3P. 4. Importance of small businesses and business start-ups to the growth of the socialeconomy.................................................................................................................................5TASK 3............................................................................................................................................6P5. Determine characteristic, traits and skills of successful entrepreneur which differentiatethem from business manager..................................................................................................6P6. How aspects of the entrepreneurial personality reflect entrepreneurial motivation andmindset...................................................................................................................................8TASK 4............................................................................................................................................9P7. How background and experience can hinder or foster entrepreneurship.........................9CONCLUSION..............................................................................................................................10REFERENCES................................................................................................................................1
Entrepreneurship and Small Business Management- PDF_2
INTRODUCTIONEntrepreneurship refers to those individuals who has the ability to managed owned andrun a business with the motive of earning profit and mitigating risk. The report discusses aboutdifferent types of entrepreneurial ventures and their relation to typology of entrepreneurship. Itdiscusses about impact of small business on the social economy and traits, characteristics andskills of successful entrepreneurs differentiate them from business managers. TASK 1P1. Types of entrepreneurial ventures and how they relate to the typology of entrepreneurshipEntrepreneur refers to those individuals who manage, organise and assume the risk ofbusinesses or enterprise, and have the capacity to undertake risks in order to make profits. Thereare various types of Entrepreneurial ventures that are run by entrepreneurs in order to earn profit.Some of that are as follows:Small Business:This form of business refers to an independently owned and managedbusinesses run by an individual person. It is operated for profits and aim of such businessis to grow into a long-term enterprise, which is both profitable and sustainable. SmallBusinesses gets finance through micro-loans, personal funds loans from friends andfamily members. Examples of small businesses are Retail stores in local areas or streets,restaurants, etc. Scalable Start-up: Unlike small businesses, these are different in both aim andoperation. These are usually operated by young, innovation-focused individuals who havean ability to create a new market or launch a new product in existing market. Scalablestart-up is funded by risk capital, angel investments, venture capitalist and Governmentgrants and subsidies. It usually consists of a those companies which produces innovativedevices in different field, developing B2B software or apps, etc (Al-Atabi and DeBoer,2014). Large Company: It comprises of big organisations that has the potential to createinnovative products or enter into new ventures. These companies are significantemployers in community and can recruit more than 500 employees in their organisation.The main motive of large companies is to earn profit for their shareholders and expandbusinesses and operations.1
Entrepreneurship and Small Business Management- PDF_3
Social Entrepreneurship: Businesses which are built with the motive of creatinginnovative products. Further, they have the aim and desire to make the world a betterplace. Social Entrepreneurship lays emphasis on maximising sustainable development.These enterprises can be in the form of Non-profit firms, Profit companies or Hybrid. 2
Entrepreneurship and Small Business Management- PDF_4

End of preview

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

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

Unit 9 Entrepreneurship and Small Business Management
|18
|5398
|38

Entrepreneurship and Small Business Management
|15
|4746
|90

Small Business and Micro Entrepreneurship
|14
|3313
|300

Entrepreneurship and Small Business Management
|14
|2691
|213

Entrepreneurial Ventures
|14
|3755
|53