Entrepreneurship and Small Business Management: Concepts, Types, and Growth

ENTREPRENEURSHIP AND
SMALL BUSINESS MANAGEMENT

CONCEPT OF ENTREPRENEUR
 The process of planning, designing as well as actually running a new business
by taking all the risks involved on the small scale initially is said to be
entrepreneurship.
 The person who undertakes the responsibility of undergoing various risks in
order to run the new business is referred to as the entrepreneur. In short,
entrepreneur is the one who actually starts the new business (Burns, 2013).
Entrepreneurs are the persons capable of using their innovative ideas and skills
in order to bring a change in the world.

EXAMPLES OF BUSINESS
ENTREPRENEURS:
 Walt Disney , the creator of Mickey Mouse character and founder of Walt
Disney Company.
Mark Zuckerberg, founder of the famous social website Facebook.
 Bill Gates who created Microsoft.
Steve Jobs, co-founder of the Apple computers.

TYPES OF ENTREPRENEURIAL
VENTURES
Small Business Entrepreneurship
Scalable Start-up Entrepreneurship
Large Business Entrepreneurship
Lifestyle Business Entrepreneurship
Growth Firms
Social Business Entrepreneurship