Entrepreneurship and Small Business Managements- Doc

Entrepreneurship and Small
Business Managements

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Different types of entrepreneurial ventures and their relation with topologies.....................4
P2 Similarities and differences between entrepreneurial ventures.............................................5
TASK 2............................................................................................................................................7
P3 impact of small-business and micro businesses on the economy..........................................7
P4 contribution of the small business and start ups to the growth of the social economy..........8
TASK 3............................................................................................................................................9
P5 Characteristic, traits and skills of successful entrepreneurs...................................................9
P6 how will the entrepreneurial personality reflect entrepreneurial motivation and mind set. 10
TASK 4..........................................................................................................................................11
P7 Background and experience can hider or foster entrepreneurship.......................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
The performance of different activities by different people is the main concept behind
entrepreneurship. For the purpose of making profit the capacity and willingness to organise,
develop and manage the venture and to also take into consideration the risk that are associated
with it is entrepreneurship (Alsos, Carter and Ljunggren, 2011). If someone starts a new business
than that will be called as entrepreneurship. In the below mentioned report various types of
entrepreneurship and its related aspects will be discussed. Also how a entrepreneurship and small
business are managed and what all steps are required in that process will be also taken into
consideration in this report.
TASK 1
P1 Different types of entrepreneurial ventures and their relation with topologies.
There are basically four types of entrepreneurial ventures which are discussed below :-
1. scalable Start-up entrepreneurship : they can be defined as those entrepreneurship
which are required to be started and for that purpose it is needed that new and innovative

ideas should be introduced. The risk that will be involved should be evaluated in order to
identify the profitability of it.
2. Small-business entrepreneurship : these are those businesses that can be established
even by a single person on his own (Awogbenle and Iwuamadi, 2010). They will include
grocery stores, travel agents, plumbers, etc. in this either the local workers or the family
members are hired and there is a very less amount of profit that can be made by it.
3. Large company entrepreneurship : these are those companies that have a definite life
cycle. By undertaking various aspects such as innovation, offering of new products they
can ensure their growth. There are various changes such as introduction of new
technology or change in customer taste that keep on occuring in the market so they are
required to be considered in order to reach at new heights and make the business even
more big.
4. Social entrepreneurship : In this type of entrepreneurship the main focus is kept on
preparation of such products that will prove to be helpful in solving social problems and
meeting the needs of the society. In these the main aim is to serve the society rather than
profit earning.
The different typology of entrepreneurship :-
 women entrepreneur : They are those that are formed and controlled by the women.
Women in this are provided with the interest at minimum rate.
 Trading entrepreneur : these consider only the trading activities and the manufacturing
activities are not undertaken by them (Barringer, 2012). Here the potential markets are
identified by which the demand will be created by creating the interest for the product
among the buyers.
 Business entrepreneur : they covers those entrepreneur that are created by an individual
on the basis of the idea that is created by him on his own. The business that will be
established by this process may be a small business or a bis entrepreneur.
 Industrial entrepreneur : in this the needs and requirements of the customers are
studied and than on the basis of that the product is manufactured in order to satisfy their
needs.