Essay on Entrepreneurship Small Business
Added on 2020-06-04
18 Pages5250 Words50 Views
ENTREPRENEURSHIPAND SMALL-BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION ..........................................................................................................................4TASK 1............................................................................................................................................4P1. Various types of entrepreneurial ventures and relationship with entrepreneurshiptypologies...............................................................................................................................4P2 Difference and Similarities between different kind of entrepreneurial ventures.............6TASK 2............................................................................................................................................8P3 Impact of both such as small and micro business on economy........................................8P4 Importance and significance of starts-ups and small businesses in development of socialeconomy...............................................................................................................................11TASK 3..........................................................................................................................................12P5 Skills and Traits of entrepreneurs...................................................................................12P6. Entrepreneurial personality indicate entrepreneurial mind-set and motivation ...........13TASK 4..........................................................................................................................................14P7. Background and experience of entrepreneurs can hinder entrepreneurship..................14CONCLUSION..............................................................................................................................16REFERENCES .............................................................................................................................17.......................................................................................................................................................18
INTRODUCTION Entrepreneurship is identified as a willingness to create, succeed and organize a businessventure simultaneously with risk to earn large number of profits (What is Entrepreneurship?,2018). Entrepreneurship has important role and duty in the economic development or growth ofthe enlarging global marketplace. In economics terms, entrepreneurship combined with naturalresources, labour, capital and land, can produced maximum profit. An entrepreneur is anindividual person who are working as a worker, runs and founds a small business, believing allthe rewards and risks of the venture (Harris, and Patten, 2014). In the present assignment,various kinds of entrepreneurial venture and their relations with entrepreneurship typologies aredetermined. There is difference and similarities between entrepreneurial investor also described.Along with them contribution of both business activities such as micro and small in economicdevelopment, it determined in this project. Importance of starts-ups in the progress of socialeconomy which is also described in this projects. Also, main traits and characteristics ofentrepreneurs that can affect on its mindset which is also be determined in this study. TASK 1P1. Various types of entrepreneurial ventures and relationship with entrepreneurship typologiesConcept of Entrepreneurship: It is identified as an effective process of developingvaluable idea in innovation which assist in growth of successful venture in order to earn largenumber of profits. In simple word, it is the combination of capital, natural resources, labour andland to produce maximum benefits. It entirely relay on ability and capacity of business men totake risk, investigate market and implement business plan with purpose to render their servicesor goods to public. Different kind of entrepreneurial ventures: In marketplace, there are different number ofenterprise are available to be operated by a single person. It mainly set up the risk takingcapability of enterpriser that which organisation they choose (Altman, Sabato and Wilson, 2010).As each and every venture are different one and all which are needed to complete entirenecessitate to launch business activities and functions. There are four kinds of entrepreneurialventure which are determined as below: Large entrepreneurship: It is a kind of entrepreneurship which involves maximumamount of funds and risks in order to establish their business operations and functions. To satisfy
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