(Doc)Entrepreneurship and Small Business Management | Assignment
Added on -2020-11-23
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ENTREPRENEURSHIP AND SMALL BUSINESSES MANAGEMENT
Executive summary The present report has covered types of entrepreneurial venture and types of typologies which is related to entrepreneurial venture. It reflects similarities and difference between entrepreneurial ventures and also shows some relevant data of small and micro businesses impact on UK economy. The current report has discussed successful entrepreneurs, small businesses, startupbusinesses,characteristictraits,skillsandmotivationaldriversofsuccessful entrepreneurs which is different from managers. This report was discussed about three successful entrepreneurs.
Table of Contents INTRODUCTION...........................................................................................................................2 P1 Different types of entrepreneurial ventures that relate to typology of entrepreneurship........2 P2 Similarities and difference between entrepreneurial ventures................................................4 P3 Small and micro businesses impact on economy within relevant statistics and data.............8 P4 Importance of small businesses and business start up to growth of economy........................9 P5 Characteristic, skills, traits and motivational drivers of successful entrepreneur that is different from other business manager......................................................................................10 P6 Entrepreneurial personality reflect entrepreneurial mind set and motivation......................12 P7 Background and experience hinder or foster entrepreneurship............................................13 CONCLUSION..............................................................................................................................14 REFERENCES..............................................................................................................................15 1
INTRODUCTION Entrepreneurship is heart of each and every business, large organization started out small business control or lead by businessman. Entrepreneurship sequence is designed to build businesspersonskillsstepbystep.Thepresentreportisbasedondifferenttypesof entrepreneurial ventures and also explain their relation with different types of typologies. This study clarifies the differences and similarities between entrepreneurial ventures and also explain SME's businesses affect on UK economy (Dew and et.al., 2018). It justifies importance of start up businesses and small businesses in growth of social economy. Moreover, this study shows characteristic, skills and motivational drivers of successful entrepreneurs which is different from business manager. This report explains entrepreneurial personality reflect entrepreneurial mind set and motivation and also justify successful entrepreneurs background, experience that foster or hinder them. P1 Different types of entrepreneurial ventures that relate to typology of entrepreneurship Entrepreneur-Entrepreneur is someone who practices initiative by managing business to take benefit of any opportunity. In other words' entrepreneur is a person who take any venture decision and decides how, what and how much of services and products will be manufacture. A person takes many risks to run a business in marketplace known as risk taker. Entrepreneur controls and monitors business functions and activities. Entrepreneurship-It is the procedure of launching, designing and running new or existing businesses, which is often a small business. The people who make these businesses are known as entrepreneurs. It has been described as willingness and capacity to organize, develop and managed a business along with many risks in order to make money. Entrepreneurial venture-A person or individual who outset and run their business with limited planning and resources and is responsible for overall rewards and risks of her/his business venture. Enterprise-The enterprise is business or firm, often medium and small ones, it is a task, a willingness to take on new tasks, an undertaking venture. New start up business is an example of enterprise, someone taking opening to start new business is known as enterprise. Types of entrepreneurial ventures- Small size social venture- The majority of ventures in today's world is still small businesses, in UK many organizations are small businesses and they employ 50% of all 2
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