Analysis of Entrepreneurship and Small Business Management

The provided assignment is a detailed analysis of entrepreneurship and small business management. It includes a list of references from academic journals and books, which suggests that the assignment is related to research or academic work in this field. The references cover topics such as corporate failure analysis using SBM (Superior Bank Management), sustainability through Schumpeterian social entrepreneurship, and commercialization behavior among academicians. The assignment also appears to be focused on understanding the motivations behind people's choice of entrepreneurship, with a possible emphasis on small-scale industries data from the UK. Overall, the assignment seems to be an in-depth examination of various aspects of entrepreneurship and small business management.

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Different kinds of entrepreneurial ventures and their relation with typology of
entrepreneurship..........................................................................................................................1
TASK 2............................................................................................................................................4
P3. Data and statistics briefing about the impact of small businesses on economy....................4
P4. Small and business start ups contribute to growth of social economy after Brexit..............5
TASK 3............................................................................................................................................7
P5. Traits and skills of two successful entrepreneurs which differentiate them from other
business managers.......................................................................................................................7
P6. Personality of entrepreneur reflecting entrepreneurial motivation and mindset...................9
TASK 4..........................................................................................................................................10
P7. Impact of past experience and personal background..........................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
It is referred to as art of doing business activities carried out by an entrepreneur and he is
an individual who utilises the resources available in the business environment. The raw materials
are converted into final goods thus then it is sold to customer with aim of earning profit. Their
production is based on unique and creative concept as they use innovative marketing strategies to
sell goods to targeted customers. The objective of entrepreneur business is to create a demand for
different goods and services thus convincing people to buy it as it posses certain features.
Federation of Small Business (ESB) is putting their efforts to develop a business environment
where small scale companies can expand their operations (Storey and Greene, 2010). Growth of
enterprises is required for an economy as through this there will be more employment
opportunities for individuals and at the same time they know that they have to introduce a new
product which is totally unique for people. A fully featured product creates a monopoly in
market as they have came up with something which was not available in the market. This report
gives us an insight about methods and programs run by FSB to encourage entrepreneurial
activities in local areas of UK
TASK 1
P1. Different kinds of entrepreneurial ventures and their relation with typology of
entrepreneurship.
An entrepreneur is a person who initiates the business with limited resources and
planning and is responsible for all risks and rewards of his or her business venture. They come
out with a new idea shaped in a product or services with a new business model. Entrepreneurial
ventures aims for high return with equally high level of uncertainty. The concept of
entrepreneurial ventures emphasis on new innovative offerings and they are ready for uncertain
risks. Following are some of the entrepreneurial ventures and their typology:-
Social Enterprises:- Any organisation who has been initiated so that they can improve
the social setting are part of this. They believes in philanthropic work and are involved in any
kind of humanitarian work. Such enterprises hardly focuses on profit making and it can be said
that normally their services are free of cost (Burns, 2010). The profit making organisation
sometime also analyse the market and tries to find out interests of people thus bringing products
according to demands. For example; Coffee beans are main crop of Uganda but due to less
1

knowledge the farmers are finding it difficult to export their crops but a new social enterprises
comes to help them in exporting their coffee to all over world. This organisation exports the
coffee in European countries and because of this conditions of farmers are has improved to a
great extent. It is just 5% out of total profit goes to organisation who are assisting the and at time
they also ensure that they get best price in national market.
Business run by families:- It can be defined as businesses which are controlled by
family members from generations. All business decisions are made by family members as they
have the ownership. The power is transferred from generations to next generation. In this, their
might be female entrepreneur who may be more creative as they can run a cosmetic business. In
current scenario there has been a lot of female entrepreneur who are setting a great example in
society.
Franchise Businesses:- It is business concept which is adopted by organisation to
expand the business in different areas and countries. For example; a popular fast food chain
wants to open new outlets in UK so they will invite people who will be running their business on
behalf of others (Stokes, Wilson and Wilson, 2010). Through this they can reduce the cost and
may gain more profits. Large firms like McDonald's and KFC practice this concept ensure that
they have presence in all over world.
Small Business Ventures:- There is existence of some of organisation in business
environment who operates the business at limited area as they lack more number of resources.
The employee numbers are also very less and are normally funded by loans from banks and the
personal savings that they make.
There are also serial entrepreneur who regularly comes with new ideas and starts new
businesses whereas typical entrepreneur will often come up with an idea, start the company and
then see through and play a important role in the day to day functioning of new organisation
(Sahlan, Rahman and Amin, 2015).
Small business entrepreneurship: This venture refers to small business owned by sole or an
individual. These kind of business earn low profits for living and capable to make their spending
bills. Some small business are saloon, grocery store, travel agents, electricians etc. These kind of
person receive financial help form bank, family, friends etc. in order to meet necessary
requirement.
2

Large entrepreneur organisation: These kind of organisation has run their business
activities at large scale, so their profits are also very high. They provide employment to many
worker which develop economy of the country. Large organisation has provided contribution
into decrease level of poverty among society. These kind of firm has used technology and
innovation for increase their revenues and gain long term sustainability at market place.
Some businesses ventures are as follows:
Lifestyle venture: In these venture firms are analysing customers needs and preferences
toward lifestyle and provide product or services accordingly. Entrepreneurs making strategies
and plan for growing and developing venture at market place.
Serial venture: These kind of venture have done, when firms seeking new innovation
and innovative ideas, working style and method for gain competitive advantage at market place
and help to manage businesses operation as well as whole activities.
P2. Similarities and differences between entrepreneurial ventures.
The categorisation of entrepreneurial ventures is done on basis of their sizes and
functions they carry out. They have some similarities and differences between them and to state
it an analysis is done.
Difference between small and large enterprises:-
It can be said that through their name their production capacity can be analysed that at
what level they are doing the work. The large scale companies have high turnover as compared
to small scale and they don't have much employees. The resources available with small scale are
limited but in case of large enterprises they have sufficient number of staff to expand their
business to bigger platforms. Organisation structure is different from each other as large firms
have broader structure and the decision making making power is restricted to a single person.
Large enterprises follows a hierarchy in their business decisions and there are departments who
have business heads thus it can be said that the decision making power does not lies with a single
person (Bridge and O'Neill, 2012). The managers are given responsibility to take care of
activities which are carried out in the business. In small scale, the owners himself have to take
care of managerial work and take certain decisions which would bring positive outcomes.
Similarities:-
Both types of enterprises focuses on doing the work through setting targets and follows
the plan which they have set to achieve those targets. They have similarity that no task is done
3

without planning and for that they have stakeholders whom they have to satisfy to achieve those
goals. For finance they prefer taking loans from banks.
Differences between family run business and franchise managed enterprises:- The
owners of family owned business are members of family and in case of franchise owned there is
sharing between the brand owners and the temporary owner. It can be said that there is
partnership between them as an entrepreneur is running the business on the name of others. It is
done through contract basis and a memorandum of understanding (MOU) is signed between both
parties briefing about the guidelines regarding terms and conditions which will be followed (Lee-
Ross and Lashley, 2010). In case of family enterprises there is no contract on ownership and they
does not look at abilities as the person who is the eldest one becomes the owner of business.
Similarities:- In both the types of ownership there are various financiers who are ready
to give loans and both concept profits are shared among the members. These kind of enterprises
lasts for a longer period of time and normally the things are carried out with a mutual
understanding. The decision is not taken by any one person but a decision democracy concept is
followed in both of them.
Venture Similarities Difference
Small and social
entrepreneurial
 Both venture has
worked at small level
and their profits are
very low.
 The main aim of both
firms are selling
product and services to
customer’s.
 Both has used
innovative and creative
ideas to meet goals and
objectives.
 Small firm main
objectives is gaining
high profits but social
entrepreneur major aim
is solving issues of
whole society.
 Social entrepreneurs
are contributing their
efforts toward
development of
country but small
businesses can not do
same.
Large and Scalable  Both types of firms are  Scalable firms are
4

entrepreneur aiming on perception
and structure change of
the way of
merchandising and
marketing.
 Both company has run
their businesses
operation for gain high
profitability and market
share.
investing less funds in
their business
activities. But large
company has investing
hug mount for running
their whole businesses
operation.
 Scalable firm use
innovative ideas for
gain sustainability at
market place.
Female and male
entrepreneurial
 Both persons have
done their work in a
very effectively
manner with hard
work.
 Male and female both
contain equal skills and
knowledge level.
 Male employees has
strong decision-making
power but female
employees has faced
many problem and
consequence in
decision - making
process.
 Female entrepreneur
has more sensible as
compare to male.
TASK 2
P3. Data and statistics briefing about the impact of small businesses on economy.
The UK government has classified micro, small and medium enterprises by considering
employees number and turnover. According to them those businesses who has employees
number less than 10 and their turnover is under £2 million are considered as micro companies
and any firm has less than 50 staff and if turnover is under £10 million will come in the category
of small business. A medium scale enterprises has less than 250 staff and their turnover is under
5

£50 million (Singh and Raghuvanshi, 2012). The businesses which are prevailing in market has
different structure and it impacts how much owner pays in taxes and has owner's liability for
business activity. Below mentioned is the nature and characteristics of Sole Proprietorships,
partnership and private etc.
Sole Proprietorships:- It can be said that it is the simplest business structure to operate
and is also least regulated. They have single owner and to start such business it does not need
much resources and it only need a licence from the local government to initiate it. It is duty of
owner to manage and record all the profits and losses and transferring the ownership is little
difficult as they have to sell the entire business.
Partnerships:- When two or more people having the same interests or aims comes
together to form a company so that they can achieve the goals and objectives which they wanted
to. The income flows through to each owners personal tax return. In partnership business all the
partner will be legally liable for any kind of debts and each of them have limited liability. In the
case if a general partnership dissolve and formation of new partnership takes place if anyone of
them have to transfer ownership (Rahdari, Sepasi and Moradi, 2016).
Private:- It is a limited company which undertakes small businesses and liability of
members of Private Limited Company is limited to about of shares respectively held by them. Its
regulation and ownerships of shares can be sold to public in market.
Small scale organisation has great significance to economy of country on local, national,
international and regional economy. The owner of businesses who are on small scale does not
need to be worried about the failure as there is no investment of much resources. How important
small scale organisation for UK economy is can be analysed through data released by Federation
of Small Scale Business. In UK, there is existence of 5 million micro and small scale enterprises
and it can be said that there are providing employment opportunities to a large number of people.
The retail sector has much scope and has lots of opportunities as compared to others as it has
been successful in giving employment to up to 19% of individuals. Other than this agriculture,
insurance, mining, food, transportation and education also have scope. In year 2015, there was
380000 new small and micro organisations. This number is increasing every year as the ratio of
births are greater than business deaths. Through the statistics, it can be said that multinational
organisations are also looking to acquire various small and micro companies. These firms are
generating new employment opportunities at regional and local level (Malebana, 2016). This
6

way there can be improvement in the lifestyle of people and in rural areas the farmers which also
get good prices of crops in market and they can also export their crops in different countries. At
these level there is increase in educational level and also the infrastructure will see improvement.
GDP and GNP are the indicators if impact of small businesses on UK's national economy has to
be analysed.
Small business: These kinds of businesses run their operation at small level. Such consist
several type of association, partnership and sole enterprise where number of employees are not
less then 20 and not more then 150
Micro business: These kind of business unites run their operation at very small or micro
level. Their main aim are expanding their work area. In this, number of employees are not more
then 20. They have make strategies and plan to increase their probability and sustainability in a
given period of time.
Medium business : These kind businesses has worked on medium level. Approx 300
employees has worked in these firms. They use innovative ideas for increase their market share.
Nature and characteristic of partnership, private business and sole proprietor:
 Sole proprietor: This business unit run by single person and decision-making power has
also given to them. Sole proprietor businesses formed by individual persons those
manage whole business function as well as structure and responsibilities. They can bear
whole losses by themselves.
 Private business: These kind of organisation own by an single person as well as
shareholders at market place. Almost 50 shareholders has invested their money into this
venture and participant in decision-making processes of board of director meeting.
Private company required attest two directors who take decision related to firms
operation and activities as well as make appropriate strategies for expanding business
area.
 Corporation: These businesses have formed by several shareholders. They make
legislation of company structure and existence in current working sectors. Each one of
shareholders are right to participanting in decision-making process of an organisation and
provide their opinion as well. The size of these business are very large.
All types of businesses like small, medium and start-up's has affected economy of the country,
some important way are described as follows:
7

Local impact: According to diagram, 92% small firms provide taxes to UK government
and contributing in economy as well. UK government has make plan and policies for providing
support to small business units after the Brexit. Small businesses provide employment
opportunist in a local area thus develop living standard of these area.
Regional impact: Small and micro firm has influenced UK market by several ways.
Regional marketing concept are very location to location as well as their living and life style are
also different. This will aid meeting of high employment in UK various area and location after
the recession period is over.
National and international impact: Micro and start up's both has used innovative ideas
and creative thinking to run their businesses operation which make their positive image at
national and international level. Both has played important role in domestic commercial action
and global trade.
P4. Small and business start ups contribute to growth of social economy after Brexit.
Brexit is a term which is used to define hypothetical departure of United Kingdom from
European Union. Any investments in business at small level for a temporary period are
considered as start-ups. It is independently owned and operated for the profit. After Brexit, it is
estimated that there will be improvement in the business environment for small scale and start-
ups. As there will be trade restrictions and there will be also increase in the custom duty. Those
companies who wants to invest in UK have to give more taxes as now they will be focusing on
economy growth for their local business (Sousa-Zomer and Cauchick-Miguel, 2017). Social
economy plays a crucial role in a developed country like UK. It is analysed that social economy
and the financial economy of the country are interrelated to each other. NGOs and charitable
trusts are organisations which contribute in social economy. They look at the bad and evil
practices which are part of society and through their actions they try to eliminate such things
which are affecting business (Fattal Jaef and Buera, 2015). Small scale organisation works for
development of health and education sector. They ensure that the citizens basic needs are
fulfilled and they are educated about there rights posses by them. From introducing products
which are useful in their daily lives they try to improve their lifestyle.
8

9
Illustration 1: Small Scale Industries Data of UK

Difference between small business and start-up's:
Significance Start-up's Small business
Economical factor and its
influences
These businesses have
established by innovative ideas
and they promoting creative
thinking at work place to
enhancing employees
capabilities and make unique
product-service.
Small business major aim are
gaining maximum profits at
market place in order to gain
success and growth of the firm
in UK.
Conveniences in employment
and social growth.
Start-up's creating employment
opportunist in the society of
UK. This business is
supporting job increment
which managing and
controlling employment of the
country.
Small businesses are
generating large employment
opportunist for young person
and provide training and
development program to them
for enhancing new employee's
skills and knowledge which
provide high profits to firm.
International trade Start-up's are encouraging
globe trade practices with in
UK. Thus increase foreign
exchange of the county as well
as reduce poverty level.
Small businesses are
supporting export import
activities in UK to gain
competitive advantages at
international market.
TASK 3
P5. Traits and skills of two successful entrepreneurs which differentiate them from other
business managers.
Entrepreneurship is a punctuality, discipline and attitude which makes a successful
entrepreneur. They have the potential to convert opportunity into useful resources as they set
10

plan to achieve the goals and targets. The entrepreneurs believes in achieving realistic targets and
follows the concept of innovative and creativity in the work which they are doing. It is not
necessary that all the entrepreneurs are created from the same blue print as they have different
ethnicity, cultural background, geographical locations, lifestyle, social believes, education level
etc. are the things which impacts an entrepreneur (Puentes and Ruiz-Tagle, 2015).
Mark Zuckerberg can be one example of successful entrepreneur and this 30 years old is
one of the youngest CEOs. His creation of social networking site Facebook has brought
revolution in the world and it can be said that today almost every person is on Facebook. This
site connects billions from each other around the world and has refined the definitions of
communications. He believes that if someone has an idea and wanted to do something to
revolutionise the world than they should not wait for time as there every time has some value.
The targets can be achieved and a new products and services can be created if there is dedication
in the person who is carrying out the operation. Zuckerberg advices that an idea can be converted
into a business only if there is proper market research thus applying hypothetically that to the
market. Through this it can be known that what are the factors which can impact their business
whether it is negative or positive. Following are the skills and traits of Mark Zuckerberg that are
as follows:-
Keenness to form plan reality:- He is very ambitious and work hard working towards
his goals which they have to achieve. In starting, when he was in college days he felt that there is
no social groups which he can job and he found communication little difficult. But there was no
availability of any communication devices so that he can know what the other person is doing in
their day to day life (ZHAO and ZHANG, 2014). He got an inspiration from that that through
using technology he can convert his dream into reality thus focusing on achieving the passion he
has for computers and coding. Mark made this his dream project and was excited about the
results. He came with Facebook with the idea of socializing with people through photos, posts
and chatting etc.
Risk Taker:- Mark Zuckerberg has tendency to make decisions which has certain risks
involved in it but all the risks are taken in calculated manner. Mark had decided that he wants to
develop a social site although he did not have much money and the investors available with them
was his parents. He was aware that the chances of failure is quite high but still he did not back
down from the risk.
11

Taking Feedbacks on serious note:- Mark Zuckerberg believes that whether the
feedback given by people are negative or positive should be used for business improvement.
Through this he was able to resolve the issues which was coming in his way and Mark always
had problem solving attitude (Setiawan, 2012). With this they introduced different innovations in
Facebook and now made Facebook a part of our day to day.
Jeff Bezos, who is the owner of world largest e-commerce site Amazon is a true example
of an entrepreneur. It is his innovation creation and contribution in improving the shopping
experience has made him a successful. Today, he is the riches person with net worth of 100
billion US dollar and thus becoming the second person after bill gates to reach the figures 100
billion US dollar. Below mentioned are traits and skills of Jeff Bezos that are as follows:-
Knack of Innovation:- He has hunger of developing new things which has innovation
and are totally different from something which is already part of market. In starting time he was
only focusing on selling books but as the time progress he broadened his offering and focus evey
providing everything on one platform.
Hardcore Realist:- The traits which Bezos have is compulsory for a successful
entrepreneur as he is the person who belies in reality so he analyse and weights all the
possibilities and probabilities after that they take the decisions (Ramakrishna and Hulugappa,
2013). Before starting Amazon he recognised the adverse effects and the possibilities of failure
which help them in making the pre strategies to handle any kind of situation.
Experimentalist:- Jeff Bezos is a person who innovate the things according to the
demand of situation so to achieve this he regularly adapts new technology in his online venture.
Through his experimentation he is successful in creating a demand and desire for products which
can be used by customers (Simatupang, Schwab and Lantu, 2015). From initial time he has this
habit of bringing efficiency in their work and this way they can attain the targets in quick time.
Examine background factors as education, family,
social network, experience, gender and
nationality/ethnicity hinder or foste Above mentioned are the certain skills and traits which
differentiated them from ordinary business managers. The difference between them is that they
thinks out of box and knows that how they can properly use the limited resources available with
them and can gain maximum output from it.
12

P6. Personality of entrepreneur reflecting entrepreneurial motivation and mindset.
The business activities in which both the entrepreneur are part of reflects their personality
and mindset. So it can be said that it is their actions which defines their mindset and psychology
and the other thing which shows them personally is their past experience, lifestyle, family
upbringing and the culture they have adopted. Personality of an individual may includes what the
person is thinking, his or her beliefs and lifestyle adopted by them. On other hand mindset can be
defined as perception of entrepreneur on certain different operations (ZHANG and YAO, 2012).
If the personality of a person have to be judged it is necessary that the factors of mindset should
be analysed. They should look whether he believes in taking any kind of initiatives, what are
methods adopted by them to solve any problem coming at workplace and on whether the
decision he has taken is logical or not are some of thing which can be analysed to know the
effectiveness of personality of an entrepreneur.
13
Illustration 2: Five Personality Traits (OCEAN)

In all it can be said that the situation in which they are in can be analysed to know their
personality. The outer appearance of a person cannot be used for judging their personality and
abilities. To know the personality of an successful entrepreneur five factor model can be used in
the context. These can be shortened as OCEAN which is expanded as Openness,
Conscientiousness, Extraversion, Agreeableness and Neuroticism. These terms are elaborated
below:-
Openness:- It is concerned with Culture, Originality or Intellect which includes
appreciation for art, emotion, adventure, usual ideas, curiosity and variety of experience.
Conscientiousness:- If show entrepreneur will to achieve any targets thus for this their
self discipline, planning and etc. are analysed (Paradi, Yang and Tone, 2017).
Extroversion:- Factors like positive emotions, surgency and habit of seeking stimulation
are evaluated.
Agreeableness:- How comfortable and cooperative nature a person have is analysed.
Neuroticism:- Through this it is looked that how easily an entrepreneur brings out his
anger, become depressed or emotional thus the negative side is analysed.
TASK 4
P7. Impact of past experience and personal background.
It is observed that the past experience and background from which a person belongs can
hinder and foster the business in which he is involved in. There are chances that there can be
both positive and negative impact depending upon the business situation. Education attained by
the individual, culture in which he is living concerned with the society, the financial condition
and ethnicity are some of the factors which can impact (Dos and et. al., 2011). If the person is
financially strong he or she belong from a rich family then this will be an advantage for them.
For example; a person who he in his college was well known for his boxing skills so he might
get successful if he open a business of sporting good but if his financial condition is not good he
will find it difficult to match the business expectation. On the other hand someone has good
financial family background but does not have any knowledge of sporting goods so they will find
it difficult to run the business. So it can be said that there should be interrelation between these
factors for becoming a successful entrepreneur.
Rewards and drawbacks of entrepreneurship.
14

Reward Drawback
Its gives great magnitude of freedom on
decision-making process. They have their own
boss and completing their work with freedom
of action.
Its important for entrepreneurs to face
competition very effectively. But in front of
large firm its very difficult to compete their
business.
Entrepreneurs can be a very exciting in nature.
They face new challenges and opportunist with
skills, determination and abilities every day.
They are working in high risky situation.
Entrepreneurship has no guarantee of 100%
success, so they face problem of uncertainty at
market place in order to manage technical
change.
They set their own goals and objectives.
Entrepreneurship has worked for own which
can be encourage them for gain high profits.
Entrepreneurs needs more time to understand
market scenario and customer’s preferences.
They flexible in working so they easily
adjusted in new working environment.
One of the major drawback, entrepreneurs
needs more work and time form their
employee's.
Example: Mark Zuckerberg has very strong personality, some important personality traits are
risk Taker, taking Feedbacks on serious note, hardcore Realist, experiment in their nature. So
they lead their team as well as other employee's to gain high profits for the firm. They have some
negative points like less number of friends at home, high security risk etc. Mark Zuckerberg
effectively implementing their strategies and plan in work place by using several tools and
techniques in order to achieve set goals and objectives.
Mark Zuckerberg is born in 14 may 1984 in New York, US. He is a computer scientist and
software developer. He has three sisters and father mother in their family. His spouse name is
Priscilla chan and one daughter Maxima chan Zuckerberg.
CONCLUSION
From the above report it can be summarised that entrepreneurship is a set of procedure
which helps small and micro organisation to expand their business operations. To gain success in
attaining their goals and objectives they need to ensure that there should be innovation and
15

creativity in their work. Entrepreneurial firms can be differentiated on basis of various types of
typology. If the owners of enterprises have shown their presence in the market they should have
particular mindset and personality which will makes them successful entrepreneur.
REFERENCES
Books and Journal
Bridge, S and O'Neill, K., 2012. Understanding enterprise: entrepreneurship and small business.
Palgrave Macmillan.
Burns, P., 2010. Entrepreneurship and Small Business: Start-up. Growth and Maturity. Palgrave
Macmillan.
16

Dos and et. al., 2011. The intellectual influence of entrepreneurship journals: A network
analysis. Entrepreneurship Theory and Practice. 35(4). pp.735-754.
Fattal Jaef, R and Buera, F., 2015. The Dynamics of Development: Entrepreneurship, Innovation,
and Reallocation (No. 274). Society for Economic Dynamics.
Lee-Ross, D and Lashley, C., 2010. Entrepreneurship and small business management in the
hospitality industry. Routledge.
Malebana, M. J., 2016. Does entrepreneurship education matter for the enhancement of
entrepreneurial intention?. Southern African Business Review. 20(1). pp.365-387.
Paradi, J. C., Yang, X and Tone, K., 2017. CORPORATE FAILURE ANALYSIS USING
SBM. Advances in DEA Theory and Applications: With Extensions to Forecasting
Models. p.333.
Puentes, E. and Ruiz-Tagle, J., 2015. Do Micro-Entrepreneurship Programs Increase Wage-
Work? Evidence from Chile (No. 461). Instituto de Economia. Pontificia Universidad
Católica de Chile..
Rahdari, A., Sepasi, S and Moradi, M., 2016. Achieving sustainability through Schumpeterian
social entrepreneurship: The role of social enterprises. Journal of Cleaner
Production. 137. pp.347-360.
Ramakrishna, H and Hulugappa, H., 2013. Entrepreneurship Education in India: Emerging
Trends and Concerns. Journal of Entrepreneurship and Management. 2(1). p.28.
Sahlan, S. A. B., Rahman, N. S. B. A and Amin, S. B. M., 2015. Commercialization Behavior
among Academicians: Personal, Environmental and Entrepreneurial Self-Efficacy. Aust.
J. Bus. Econ. Stud. 1(1). pp.74-86.
Setiawan, J. L., 2012. Entrepreneurship Program Assessment by Students Outcome on Their
Perceived Entrepreneurial Characteristics.
Simatupang, T. M., Schwab, A and Lantu, D. C., 2015. Building Sustainable Entrepreneurship
Ecosystems.
Singh, R and Raghuvanshi, N., 2012. Women entrepreneurship issues, challenges and
empowerment through self help groups: an overview of Himachal
Pradesh. International Journal of Management Research and Reviews. 2(1). p.77.
Sousa-Zomer, T. T and Cauchick-Miguel, P. A., 2017. Exploring business model innovation for
sustainability: an investigation of two product-service systems. Total Quality
Management & Business Excellence. pp.1-19.
Stokes, D., Wilson, N and Wilson, N., 2010. Small business management and entrepreneurship.
Cengage Learning EMEA.
Storey, D. J and Greene, F. J., 2010. Small business and entrepreneurship. Financial
Times/Prentice Hall.
ZHANG, X. D and YAO, Y., 2012. Analysis of Private Entrepreneurship Expansion and
Regional Innovation Efficiency Promotion. Economic Geography. 2. p.017.
ZHAO, Y. Z and ZHANG, X. X., 2014. Corporate Social Responsibility Efficiency of Airline
Based on SBM-DEA Analysis. Soft Science. 10. p.014.
Online
The 5 Motivations That Drive People to Choose Entrepreneurship . 2015. [Online]. Available
through <https://www.entrepreneur.com/article/249417>.
17