Assignment Entrepreneurship & Small Business Management

Added on - 06 Jun 2020

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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1P1. Explain entrepreneurship and different types of entrepreneurial ventures...........................1P2. Differences and similarities between each type of ventures................................................3P3. Impact of micro and macro on economy.............................................................................4P4 Explain the importance of small businesses and business start up on growth of the society......................................................................................................................................................5PART 2............................................................................................................................................7P5 Characteristics of successful entrepreneurs...........................................................................7P6 Reflection of personality over entrepreneurial motivation and mindset................................8P7 Background and past experiences foster or hinder entrepreneurship..................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneur are personor individual that introduce his idea of running a business in marketand then takes risks, manages all operations and functions in such a way that it can be helpful inachieving goals and objectives of business as well as his own. For managing all these activities ofbusiness he should possess qualities of a successful entrepreneur. Following report is made afterresearch on different qualities and skills, past experience as well as their family upbringings(Bruton, Ahlstrom and Li, 2010). Small businesses are those entities which help economy on largescale by providing employment to people of local areas and contribute to national GDP as well. Thisfile is consisting of different entrepreneurial ventures, role of small businesses in economy.Objectives and aims, scope of these businesses is also discussed. It contains risks and rewardsinvolved in starting a new business as well.PART 1P1. Explain entrepreneurship anddifferent entrepreneur ventureEntrepreneur is a person which has high skilled and knowledge to managethebusiness activities.Thecompany has the capacity and ability to managea businessfunctionswhichprovides highprofits to the employees.An entrepreneur is a person who assume allprofits and production ofevery company , innovate ideas and products andserviceswhich have to sale in the market.Theycontrol commercial activities , directing the factor of production and that are required to exploit abusiness opportunities. The person who manage and operate all the business activities is known asentrepreneurship. Entrepreneurship is the process by which a person or team identifies a businessopportunities and develop and acquire the essential resources which used for exploitation. Thesocial entrepreneur achieve business goal which are required to fulfil the customer expectation andestimate the future sale and profit .Entrepreneur is the act which make a person who is develop newtypes of products and services and attracts new customers.(Dacin, Dacin and Matear, 2010). Theperson who have clear, vision and mission to achieve its goal. The scope of entrepreneurship ismassive in a developing country like India. The unemployment in the country is increases day byday and under employment is also added in that. The employmentpercentage 5% in 2016,andpeople who have jobless their percentageis 6% inthe lastyear.Entrepreneurship types1
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