(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,
start up businesses, characteristic traits, skills and motivational drivers of successful
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
businessperson skills step by step. The present report is based on different types of
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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