Entrepreneurship and Small Business Management

Entrepreneurship and
Small Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 .........................................................................................................................................3
P1. Dissimilar kinds of entrepreneurial ventures and their entrepreneurship of typology ........3
P2. Difference between entrepreneurial ventures with their similarities ....................................4
M1. Investigate a diverse range of ventures both public and private sector................................6
D1. Study of growth, scope of entrepreneurial ventures ............................................................6
TASK 2............................................................................................................................................6
P3. Illustrate how micro and small firm impact their economy with provide relevant data........6
P4. Significance of small business and firms start-ups to the expansion of social efficiency.....8
M2. Evaluate small, medium and large business by applying relevant statistics........................9
D2. Evaluate how small firm can effect level of economy.........................................................9
TASK 3..........................................................................................................................................10
P5. Characteristics traits and skills for flourishing different entrepreneurs...............................10
P6. How aspects for attribute indicate entrepreneurial status....................................................11
M3. Different lines of argument for related to entrepreneurial features ...................................13
D3. Analyse characteristics, skills and motivational mechanism for flourishing enterpriser....13
TASK 4..........................................................................................................................................14
P7. Discuss the background and experience of the entrepreneurs and how they hinder and
foster entrepreneurship...............................................................................................................14
M4. Critically evaluate the link between entrepreneurial characteristics and influence of
personal background and experience in terms of entrepreneurs ...............................................15
D4. critically evaluate how the background and experience of entrepreneurs influence other in
positive and negative way..........................................................................................................15
CONCLUSION .............................................................................................................................15
REFERENCES .............................................................................................................................16

INTRODUCTION
The term entrepreneurship defines the development and management of the business
venture by an entrepreneur to increase their profit by taking risk in their organization (Adom and
Anambane, 2019). It can be define that they can start or run their business venture to be more
creative. Small business management is a procedure for organising and coordinating various
activities to be performed, whether it can be determined for managing their workers, suppliers,
finance to perform daily tasks. Small business management usually determine or deals with
various products or services but entrepreneurship only focus on new innovative things in
business ventures. In the following study two entrepreneurs are discussed i.e. Peter Jones and
James Dyson. In this report, several substance which are named as dissimilar kinds of
entrepreneurial task, typology of entrepreneurship, similarities and dissimilar between ventures,
assess relevant data. Further the report will discuss significance of small firms and firms start-
ups, features and skills of entrepreneurs, how prospect of entrepreneurial attribute indicate and
using examples how background, experiences can hinder or foster.
TASK 1
P1. Dissimilar kinds of entrepreneurial ventures and their entrepreneurship of typology
Entrepreneurial ventures is a collection of risk, failure, success and learning where
products and offerings are more innovative. Several kinds of entrepreneurial venture are as
follows:
Small firms entrepreneurship: In this kind of ventures there is one owner and number
of workers are low. They continuously focus on increasing number of customers to develop the
sales of their goods and services. This kind of businesses run with family members and friends
so that they should provide innovative goods and services. For example., restaurant, grocery
shop and so on (Beresford, 2020).
Scalable start-up entrepreneurship: This entrepreneurship defined that organization
represents good ideas and involved various range of plan for launching their business. This
business ventures start with new innovative goods or services from beginning. These enterpriser
determine that they change their ideas and search for new investment from venture capitalist and
firm tends to be set up for more scalable business model. For instance, Twitter, Google,
Facebook and Skype.

Large company entrepreneurship: Large organizations represents that they focus on
providing new goods and services for their clients through their business organizations. They
have a solid life cycles for innovative products or services and create new business within their
organization. Examples of large company entrepreneurship are Google, Microsoft, Samsung and
so on.
Social entrepreneurship: This type of entrepreneurship consist that they should focus on
dissimilar social problems by delivering many goods and services. Sometimes organization focus
on producing better world whether it is profit, non profit or hybrid and so on. Few examples of
social entrepreneurship are Grameen bank, AMUL, TOMS and so on (Boubker, Arroud and
Ouajdouni, 2021).
Typology of entrepreneurship
Typology of entrepreneurship defines that it should be based on human behaviour and it
should be considered many typologies to develop their several methodologies. It can be state that
entrepreneur has many dissimilar roles and many knowledge and skills to be prediction as well
as their upcoming needs and provide best ideas or thoughts into their marketplace. These type of
people will be demonstrate to be prospering by taking risks, some challenges, increase profits
and rewards and opportunities for growth expansion.
Growth typology: In entrepreneurship, growth typology represents that abilities and resources of
an individual firm and leaving behind something to be learned before. Growth should be
interrupt and path of individual firm and entrepreneur.
Lifestyle typology: In case of lifestyle, it should create new firms for changing their lifestyle
rather than making profits and generate sales in business organizations. No matter what kind of
businesses is entrepreneurs are committed, realistic, flexible or resilient in case of lifestyle
(Ejupi-Ibrahimi, Ramadani and Ejupi, 2020).
P2. Difference between entrepreneurial ventures with their similarities
Basis Small firms
entrepreneurship
Scalable start-
up
Large firm
entrepreneurship
Social
entrepreneurship
Goals and
objectives
These type of
business
organization
The main aim is
to provide new
and innovative
In case of Large
company their
entrepreneurship
These
entrepreneurship
aims is to provide