Entrepreneurship and Small Business

Entrepreneurship
And
Small Business

Table of Contents
INTRODUCTION.................................................................................................................................3
TASK 1................................................................................................................................................3
P1. Identifying various types of entrepreneurial ventrues which relates to typology of
entrepreneurship................................................................................................................................3
P2. Exploring the similarities and dissimilarities between entrepreneurial ventures..........................5
M1. Investigate diverse range of entrepreneurial ventures to demonstrate an understanding of
entrepreneurship in both public and corporate sector.........................................................................6
TASK 2................................................................................................................................................6
P3. Interpret and assess relevant data and statistics to determine the impact of micro and small
business on economy.........................................................................................................................6
P4. Describing the importance of small and start-up business in growth of social economy.............7
M2. Evaluate the difference between small, medium and large business applying relevant data and
statistics in economic sector..............................................................................................................7
TASK 3................................................................................................................................................8
P5. Analysing the characteristic traits and skills of successful entrepreneurs that differentiate from
other business managers....................................................................................................................8
P6. Assess entrepreneurial personality traits which motivates and mindset of enterprise..................9
M3. Explore and examine different line of argument relating to entrepreneurial characteristics.....10
TASK 4..............................................................................................................................................10
P7. Describing background and experience of various entrepreneurs which hinder or foster private
enterprise.........................................................................................................................................10
M4. Analysing the link between entrepreneurial characteristics that influence personal background
and experience of successful businessman......................................................................................11
CONCLUSION...................................................................................................................................11
REFERENCES....................................................................................................................................12

INTRODUCTION
Entrepreneurship refers as business which consists of private owners that capable of
planning with innovative to develop strategic decision making. It creates opportunity for
enterprise to achieve success by competing with rivalries through its competitive marketing
strategies (Britzelmaier, Häberle and Landwehr, 2015). This project is based upon Coca-Cola
company which is an American multinational corporation for its nonalcoholic beverages. The
project determines various range of entrepreneurial venture which relates to typology of
private enterprise by exploring simmilarities and dissimilarities of various enterprises. It
further describe the importance of small and start-up business by interpreting relevant data
and statistics to determine the impact of micro and small business on the growth of economy.
Additionally, it analyse the characteristic traits and skills of successful entrepreneurs that
differentiate from other business managers. It assess entrepreneurial personality traits which
motivates and mindset of enterprise. Apartly, it analyse the background and experience of
various entrepreneurs which hinder or foster private enterprise for successful businessman.
TASK 1
P1. Identifying various types of entrepreneurial ventrues which relates to typology of
entrepreneurship
Entrepreneurship is described as the procedure of designing, launching, developing
straegic ideas for running a business effectively in order to remain stable by competing with
rivalries. The entrepreneurial activity refers as to take high rish to gain high return which
leads to achieve orgsanisational goals and objectives (Burns, 2016). Enterprise is explained as
the business which is continuously stable in competitive marekt with its marketing strategies
by meeting the requirement of consumers in providing high level of satisfaction. Managers of
Coca-Cola are beneficial with the innovative ideas of business persons which creates
opportunity for enterprise to sustain in perfect competition market with their consumer
loyalty and support.
Difference between serial, entrepreneurs and owner-managers are as follow:-
Basis of difference Serial entrepreneurs Entrepreneurs Owner-managers
Definition It refers as to
continuously come up
with innovative ideas
for starting new
business in global
market.
The individual who
creates new business
by bearing most of
the risks to enjoy
most of the rewards
in future.
It is explained as the
ability to direct and
control the actions of
sub-ordinated by
monitoring the
performance in order
to achieve target.
Objectives The objective of serial
entrepreneur is to do
different things with
speciality to reduce
time consumption.
The main purpose of
entrepreneur is to
take high risk to
generate high return
in future for
The objective of
owner-manager is to
accomplish
organisation goals by
producing goods with

maximisation of
profitability ratios.
quality management
to satisfy needs of
potential ocnsumers.
Entrepreneurial Ventures:- It is considered as to provide advisory services to
middle stage of companies for their innovative decisions in order to produce economic or
social value (Carsrud and Brännback, eds., 2014). There are various types of entrepreneurial
ventures which are explained with reference of Coca-Cola company are as follows:-
 Small business:- This is privately owned enterprise which consists of sole
proprietorship, partnership, joint venture, merger and acquisitions, etc. Managers of
Coca- Cola company implement this enterprise to restrict their liabilities by sharing
assets to another company which maximise market share.
 Scalable (start-up) enterprise:- This concept of entrepreneurship takes innovative
ideas by researching the global market for planning in strategic decision making. It
creates opportunity for business to compete with rivalries by entering in perfect
competitive market. Managers of Coca- Cola company implements this enterprise for
being agile, efficiemt, team culture, versatile and flexible to sustain with their
competitive strategies.
 Large enterprise:- The enterprise which consists of either 5,000 employees or annual
turnover greater than 1.5billions. Managers of Coca- Cola company implements this
enterprise for specialisation of roles, setting policies and procedures, determining and
restricting the entrance of barriers to achieve success (Fatoki, 2014).
 Social enterprise:- This refers to the entrepreneurial activities performed by social
business which involves recognition of problem by organising and managing ventures
to achieve social objective such as NGOs and charitable organisation. Managers of
Coca- Cola company implements this enterprise to develop corporate social
responsibility by providing employment and building relationship for consumer
loyalty and support.
Typology of entrepreneurship:- It is explained as the system for dividing business in
various departments which creates significance in performing task efficiently at a particular
head. This classify the generic type of business man or leader at variosu criteria to perfrom
task for specific goal and objective. There are different typologies of entrepreneurship which
are mentioned in reference of Coca-Cola company that are as follows:-
 Lifestyle:- This is classified as varities of members differentiated according to their
ethos, norms, values, culture, behaviour, etc. Managers of large enterprise diversify
workforce in different departments through their livelihood. Managers of social
enterprise categorise their internal divisions in order to provide job, charity, etc., to
society members (Johannisson, 2014).
 Growth of firms:- The division of business with specialisation of work creates
opportunity for growth of firm by competing with its rivalries through increasing