Entrepreneurship and Small Business Management

This report covers various terms and the creation of thoughts among the entrepreneurial venture and entrepreneurship. It includes types of entrepreneurial ventures, impact of micro & small businesses on economy, and importance of small business and business start-ups to the growth of the social economy. Subject: Enterprise and Small Business Management. Course Code: Unknown. Course Name: Unknown. College/University: Unknown.

Entrepreneurship and small
business management

Contents
INTRODUCTION.......................................................................................................................................................................................3
LO1 AND LO2............................................................................................................................................................................................4
P1: Types of entrepreneurial ventures and Typology of Entrepreneurship Related to Start-up Ventures..............................................4
P2 Explore the similarities and differences between entrepreneurial ventures.......................................................................................4
P3 Impact of Micro & Small Businesses on Economy............................................................................................................................4
P4 The importance of small business and business start-ups to the growth of the social economy........................................................4
LO3 and LO4...............................................................................................................................................................................................9
PowerPoint Presentation..........................................................................................................................................................................9
Notes-.........................................................................................................................................................................................................16
CONCLUSION..........................................................................................................................................................................................26
REFERENCES..........................................................................................................................................................................................27

INTRODUCTION
The managerial individual or an entrepreneur is the person who functions both economical and organisational functions to maintained
the conflicts and risks in the management. An entrepreneur is defined as the base of innovation, effective set of orientation, innovator
of various goods and services for their customers as efficiently. The entrepreneur has their staff faculty who functions for them and the
entrepreneur will measure and examine their operations. Entrepreneurship is the process of planning, producing and starting new
organisational thoughts in management. Entrepreneurs will aid the organisation in evaluating the requirements of the customer
through which the management will develop varied terms of services and it will provide to their customers (Jafari-Sadeghi, and et.al.,
2021). On the other hand, innovation is the key procedure in an organisation and it is important for influencing a high amount of
customers according to their services. The following report will cover various terms and the creation of thoughts among the
entrepreneurial venture and entrepreneurship. As there is an effective impact of small management on the growth of the economy and
lastly it will have evaluated that how the entrepreneur is different from their manager and administrators.

LO1 AND LO2
P1: Types of entrepreneurial ventures and Typology of Entrepreneurship Related to Start-up Ventures
 Small business ventures
 Social ventures
 Imitator Entrepreneurship
 Research Entrepreneurship
 Successful Entrepreneurship
 Determined Entrepreneurship
P2 Explore the similarities and differences between entrepreneurial ventures.
 Small Business Ventures
 Social Ventures
P3 Impact of Micro & Small Businesses on Economy
 Regional Impact
 Local civilian impact
 Impact on the international and domestic economy
P4 The importance of small business and business start-ups to the growth of the social economy
 Gross domestic product
 National income
 The living standard of society
 Development through employment
 Employment Production
 To connect more people

Notes:
P1: Types of entrepreneurial ventures
In an economy, there are various types of entrepreneurial ventures which develop effective practices that are essential for the growth of the economy. The
entrepreneur is considered as an owner of a business entity that earns profit by conducting various types of economic business activities. Entrepreneur consists of
various characteristics that are essential for the successful development of the business to earn revenue from the market.
Small business ventures -
This type of business is started by a person in a small scale dimension to earn a small amount of profit. In this type of business, the capital invested is
small in an amount that also contains a small amount of risk (Apere, and Uche, 2021). Small business ventures are present in large numbers in an economy and
give an immense contribution to the economy. The business strategy related to small business ventures is also relatively normal as the risk is minimum. It is
essential for the business organisation in small ventures to consider different effective factors.
Social ventures -
In the corporate world, various business organisations operate in the economy for benefit of society.
The business organisations in social ventures develop an approach and the organisations in this field conduct operations not for earning profit. It is the ethical
responsibility of the social ventures to serve weaker and poor sections of the society for the overall development of the society (Linton, and Xu, 2021). In many
different cases, these organisations are helpful in the development of society as a whole. Most successful social ventures take support of charity and donation for
gaining the development of society.
Typology of Entrepreneurship Related to Start-up Ventures
 Imitator Entrepreneurship - It is a sort of organisation that just copy the formulation and strategies of another potential entrepreneur. For instance,
management like Instagram and Snapchat are both copying their tendencies with a similar style of stories orientation.
 Research Entrepreneurship - They provide an effective way of research on all situations before developing tactics and strategies in an organisation. For
instance, businessperson such as Bill Gates, Catherine Fake and many others. They have various aspects of being a successful entrepreneur who has the
quality of bearing the risk, problem-solving, managerial abilities and many others.
 Successful Entrepreneurship - They are those individuals who have faced all circumstances in the management but still they are performing their best
to face more. They apply suitable tactics to overcome the issues in the management effectively (Ahsan, Adomako, and Mole, 2021). For instance, Walt
Disney was a successful businessperson for his animation business. He applied his varied term of skills and abilities with the purpose of development in
the business.
 Determined Entrepreneurship – In this, entrepreneurs will adopt their suitable methods and develop managerial tactics that will not be linked with
another organization.

For example, entrepreneurial like Tom Mercer, Mark Zuckerberg they are the one who presents their job role with the motive to have higher growth in
the management.
P2 Explore the similarities and differences between entrepreneurial ventures.
Every organisation has their requirements and wants through which they motivate its staff members to attain goals of the business by conducting managerial
functions. Each management requires a high set of profit but it is only for social ventures who provide inexpensive products to the customer by satisfying their
wants and needs.
Differences Small Business Ventures Social Ventures
Objective Small management will create an incorporate subdivision to generate
turnover through which they get effective attainment of their managerial
goals in an organisation (Iskandar, and Said, 2021).
Social venture deals for individual advantages by offering cheap and
qualitative products to their consumers.
Value Small business ventures need to resolve organisational conflicts by offering
qualitative products at low value with fixed rational sums. For instance,
management such as Sega considers small business ventures who have
several fields of customers who have advantages of being able to use
various sorts of products.
Social ventures are presenting their all operations through which
regular terms of activities are needed to create the suitable sum of
stability among the several social terms of economic.
P3 Impact of Micro & Small Businesses on Economy
It will include the basic section of the number of small businesses in the UK that are increasing. The power of authority will also support in advancement
and betterment of the management that will provide work for the unemployed person (Jafari-Sadeghi, 2021). It will relate to the sustainability in the nation with
several female business people who are capable to survive in the nation. They offer administrative authorities who are investing their cost in developing new
organisational value.
The activities that are contributing to the economic development of the country by them. As in context to this, various innovative sections and services are being
created by them and increasing the sustainability value for those who are present in the society.
The total division of UK foreign direct finance will also have termed to be increased. The impact of SMEs on the country's economic situation might be
termed as the following sections are as follows-

 Regional Impact – The businessperson is conducting their operations in an organization in several sections of the country. As on the other side, they
provide the local individual with standardized products and services at consistent value (Munemo, 2021). The entrepreneurs are presenting their way of
operations at regional sections through which they will maximize the role of the economy. For instance, the management will be risky because it will
have an impact on various changes of conflicts that include supremacy and extrinsic issues.
 Local civilian impact– By creating an organisation at limited division, the organisation is providing employment opportunities to several local
respective. It helps the individual in respect to creating a sufficient amount of assets.
 Impact on the international and domestic economy– The small management owners in the UK is creating frequently. It will relate to such
businessperson who performs work or dealings at worldwide section but they also involve effective stockholders in another country.
P4 The importance of small business and business start-ups to the growth of the social economy
For the society and benefit of the general public, there is a precious role played by small businesses and start-ups. The government needs to support small
businesses and business start-ups with effective policies and plans for the development of the whole country. The various ways in which small and business start-
ups support the growth of the social economy are mentioned below:
 Gross domestic product - The gross domestic product of a country is developed by the impact caused by small businesses. Small business organizations
which are present in the economy develop essential business practices and revenue which is beneficial in increasing the GDP of the country.
 National income - Small businesses increase the national income of a country which helps develop the wealth of the nation (Sandoz, and et.al., 2021).
The contribution of small scale business organizations is immense in the national income of a company to deliver the best output.

 The living standard of society- The living standard of the society is also increased by the small business organisations. All the facilities related to
normal and general life are increased by the role created by small businesses.
 Development through employment- Small business organisations develop employment opportunities that provide effective development in the
economy and society (Yohana, Dania, and Prihandono, 2021). The business organisation must generate employment for the society to develop weaker
and middle sections.
An effective growth of a new organisation has evaluated the trade growth that is termed as the global supplier. As several opportunities are created by the
economical way that is as follows-
 Employment Production– As several employment opportunities are created by start-ups and new organisations. It has a direct impact on increasing the
economical capabilities of the country. It also includes sustainability of job that covers semi-practised and practised staff faculty members who are
getting employment and work duty as efficiently.
 Innovation– They provide specific and innovative products and services to their customers through which the growth of an organisation will be
initialised with a higher amount of productivity and profitability. The management will provide an innovative service that will help them in knowing the
needs and desires of customers.
 To connect more people– The involvement of staff members and issues in the field of the market will get affected by increasing the work execution
(Larty, 2021). It will help in developing an effective dealing among individuals who will help in generating growth opportunities for the country.
REFERENCES
Books and Journals
Jafari-Sadeghi, V., and et.al., 2021. Exploring the impact of digital transformation on technology entrepreneurship and technological market expansion: The role
of technology readiness, exploration and exploitation. Journal of Business Research, 124, pp.100-111.
Apere, T.O. and Uche, W.J., 2021. WOMEN ENTREPRENEURSHIP: A VERITABLE TOOL FOR RURAL DEVELOPMENT IN BAYELSA
STATE. AJENTS, 1(2), p.30.
Linton, J.D. and Xu, W., 2021. Research on science and technological entrepreneurship education: What needs to happen next?. The Journal of Technology
Transfer, 46(2), pp.393-406.
Ahsan, M., Adomako, S. and Mole, K.F., 2021. Perceived institutional support and small venture performance: The mediating role of entrepreneurial
persistence. International Small Business Journal, 39(1), pp.18-39.
Iskandar, D. and Said, I., 2021. The effect on entrepreneurship student program on student’s entrepreneurial behavior in Indonesia. Management Science
Letters, 11(4), pp.1205-1210.
Jafari-Sadeghi, V., 2021. Internationalisation, risk-taking and export compliance: a comparative study between economically advanced and developing
country. International Journal of Entrepreneurship and Small Business, 43(3), pp.384-410.

LO3 and LO4
PowerPoint Presentation

Notes-

Mark Zuckerberg
Traits
 Vision – He has an adequate vision to link the individual around the globe at a lower value so that the growth of the economy
will place in the present world (Chavoushi, and et.al., 2021). As in the current section, communication is very essential that
will support in conducting several jobs and duties. Learning - Mark Zuckerberg proceed with their dealings for learning new things by several sources that will increase his
ability and power by which he put the effort in creating new thoughts in the management. Disciplines - It is intense for entrepreneur's management success because it enables them to hold a stable position with
personal and as well as professional. By these attributes, Mark Zuckerberg can maintain its focuses on orientated goals and
objectives.
Skills
 Communication skills – An effective businessperson have thought of orientation by aims and objectives. Mark Zuckerberg is
termed to be tough competition in the field of the market by which they are capable of interpreting with their staff faculty
members as effectively and efficiently.
 Decision making - Mark Zuckerberg have the skills to develop the way in terms of organisational decisions.
Walt Disney
Traits
 Vision – Walt Disney could get relates to the individuals and wanted to create animated characters by which a high amount of
individuals will get attracted towards them (Sahut, and Braune, 2021). With the support of his invention, diverse individuals
will get linked with their families around the world. Due to this its demand in the market got increased.

 Learning - Walt Disney was concerned with creating musical sound cartoons, animated full flesh pictures, theme parks and
many more that will further support him in raising its management high and accomplish earnings in the field of the
marketplace. Disciplines – Walt Disney was unable to earn profitability in the field of the market as he didn't lose his expectations and
discipline nature to create some fascinating things so that individuals will get influence from them as effectively.
Skills
 Confidence - Walt Disney was self-confident in terms of their taking risk. He also had trust in their skills and sense of
knowledge to start something new (Aggestam, and Wigren-Kristoferson, 2021). He also experienced from dismissal the
manner, but he was still the same high set of positivity.
 Tenacity - When things are out of control then Walt Disney maintain his continuity. He was able to manage all his denial and
is excited to learn from its mistakes to increase their productivity and profitability in the business of management.

Notes-
Entrepreneurs have several aspects to motivate other members mutually with suitable directions as to achieve their goals. They
provide legal manners to several individuals and an organisation through which they will accomplish the goals that they want to
achieve. As some several attributes and abilities will create an individual more effective that is as follows-
 Failure– Walt Disney is being got his motivation from the failure that he faced in the past. He faced varied conflicts and
circumstances that will demonstrate their way in front of the world by his animation studio and innovating nature. His viewers
and fans would like their manner to create Mickey Mouse show. He had an effective quality of learning from his failure
because he knows the manner to overcome his weaknesses by which he could enhance their career opportunities.
 Risks– Managing risk is not easy but the entrepreneur will take it and applied it in their management and it will allow
businesspeople to be efficient and develop their perspective. As there is a higher risk in terms of borrowing monetary cost but
it will be more risk if the entrepreneur will not be able to return it on time (Stewart, 2021). Walt Disney also borrows monetary
funds from his family member with the purpose of advertisements and marketing campaigns. As the first were not successful
but after putting higher efforts will demonstrate higher term of positive result from his viewers. By considering their own risk,
it will affect an individual or the businessperson to acquire the skills and overcome the issues and will achieve success as
effectively.
 Passion– As the businessperson will do such things that they would enjoy while conducting it because with no passionate
condition they will not get success. Mark Zuckerberg is a businessperson who is passionate to develop computer programs
from his initialised period and at present, he is one of the top business people in the world.

Notes-
The achievement of a potential businessperson will rely on the background through which they lived because their background
will present an impact on their personal and as well as professional life (Alonso-Conde, Rojo-Suárez, and Rentas, 2021). As per past
experiences, individuals are developing their strategies to accomplish their targets effectively and efficiently. Entrepreneurs will put
hard work go into creating small ventures and provide effective products for social advantages. Such sort of experiences will help
entrepreneurs in presenting their operations and functions on regular basis for a wide term of growth.
As it is essential for every entrepreneur to achieve their fundamental function of success and effectively managed their way
when they have the various aspects and competencies that are explained above (Henry, 2021). As it will enable them to become
efficient individuals. As there are various capabilities and knowledge that will enable them to hold the market perspective and will
also try to overcome the major conflicts that exist in the competitive section of the marketplace.

Notes- Hence, I apprehend that I will conveniently be able of executing the planning procedure with a scheduled time and with
ultimate terms as effectively and efficiently. If I want to develop and be aware of other individuals to participate in the group
presentation in which I will be able of getting a tough competition with no delegation in terms of the opinions with the individuals.
CONCLUSION
From the above-mentioned report, it has been concluded that entrepreneurs have the basic set of goals that are to be developed
for the growth of the economy by the several terms of services that they are providing. As various sections of an organisation have
their methods and goals that they have to achieve. As there are several aspects, attributes and abilities of the entrepreneurs that are
mentioned above in the following report that will support and develop the manner of motivation among staff faculty. As it will help
them in raising their confidence level that will produce and can get success as effectively. After getting the basic section that
entrepreneurs will get a major set of knowledge that they have applied to become an efficient entrepreneur in the marketplace as
effectively.

REFERENCES
Books and Journals
Jafari-Sadeghi, V., and et.al., 2021. Exploring the impact of digital transformation on technology entrepreneurship and technological
market expansion: The role of technology readiness, exploration and exploitation. Journal of Business Research, 124, pp.100-
111.
Apere, T.O. and Uche, W.J., 2021. WOMEN ENTREPRENEURSHIP: A VERITABLE TOOL FOR RURAL DEVELOPMENT IN
BAYELSA STATE. AJENTS, 1(2), p.30.
Linton, J.D. and Xu, W., 2021. Research on science and technological entrepreneurship education: What needs to happen next?. The
Journal of Technology Transfer, 46(2), pp.393-406.
Ahsan, M., Adomako, S. and Mole, K.F., 2021. Perceived institutional support and small venture performance: The mediating role of
entrepreneurial persistence. International Small Business Journal, 39(1), pp.18-39.
Iskandar, D. and Said, I., 2021. The effect on entrepreneurship student program on student’s entrepreneurial behavior in
Indonesia. Management Science Letters, 11(4), pp.1205-1210.
Jafari-Sadeghi, V., 2021. Internationalisation, risk-taking and export compliance: a comparative study between economically
advanced and developing country. International Journal of Entrepreneurship and Small Business, 43(3), pp.384-410.
Munemo, J., 2021. Do African resource rents promote rent-seeking at the expense of entrepreneurship?. Small Business Economics,
pp.1-14.
Sandoz, L., and et.al., 2021. A Review of Transnational Migrant Entrepreneurship: Perspectives on Unequal Spatialities. Zeitschrift
für Wirtschaftsgeographie.
Yohana, C., Dania, R.F.R. and Prihandono, D., 2021. Study of the Influence of Education and Literation of Entrepreneurship in
Vocational High Schools: Indonesian Case. Academic Journal of Interdisciplinary Studies, 10(1), pp.34-34.
Larty, J., 2021. Towards a framework for integrating place-based approaches in entrepreneurship education. Industry and Higher
Education, p.09504222211021531.
Chavoushi, Z.H., and et.al., 2021. Entrepreneurial alertness: A systematic literature review. Journal of Small Business &
Entrepreneurship, 33(2), pp.123-152.
Sahut, J.M. and Braune, E., 2021. Financial issues of entrepreneurship. In World Encyclopedia of Entrepreneurship. Edward Elgar
Publishing.
Aggestam, M. and Wigren-Kristoferson, C., 2021. Entrepreneurship education and gender: the man-made entrepreneur. International
Journal of Globalisation and Small Business, 12(1), pp.5-25.
Stewart, B., 2021. Using Knowledge Management Practices in Small Business Organizations (Doctoral dissertation, Walden
University).

Alonso-Conde, A.B., Rojo-Suárez, J. and Rentas, S., 2021 Do Business Administration degrees encourages entrepreneurship?
Evidence from Spain.
Henry, C., 2021. Is there a Role for Entrepreneurship Education in Veterinary Medicine? A UK Study. Entrepreneurship Education
and Pedagogy, p.25151274211040423.
Triansyah, O., Budiarta, K. and Rahmadana, M.F., 2021. The Influence of Entrepreneurship Education and its Contribution to
Entrepreneurial Behavior of Students. EDUTEC: Journal of Education And Technology, 4(4), pp.637-643.
Dvouletý–corresponding, O., and et.al., 2021 Analysing Determinants Influencing Female Entrepreneurship Engagement in the Czech
Republic: What is the Role of Caring Responsibilities?.