logo

Small Business Management and Entrepreneurship

   

Added on  2020-07-22

18 Pages4203 Words461 Views
Entrepreneurship And Small Business Management

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Examining the types of Entrepreneurial ventures.............................................................1P2 Exploring the dissimilarities and the similarities between public, private and socialenterprise................................................................................................................................2P3 The impact of micro and small business have on the economy........................................4P4. Explaining the importance of small businesses on the growth of social economy..........5TASK 2............................................................................................................................................6P5. Qualities of successful entrepreneur:...............................................................................6P6 Entrepreneurial motivation and mindset...........................................................................7P7 Examining the extent to which background and experience foster entrepreneurship.......9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11

INTRODUCTIONEntrepreneurship is the exercise of starting of any new business, ability ortemperament to develop, organize and manage a business venture. That would work to takeup the risk in the process of making profits. Entrepreneurship is highly significant which inturn helps economy to grow. The rationale behind this, entrepreneurial facilitates innovationand thereby raises living slandered of people as well as employment opportunities. The mainaim of the report will be exploring the range of business venture available to theentrepreneurs. Besides this, it will shed light on the extent to which micro businessescontribute in the developmental aspect of economy. Several areas of the ventures will becovered from the key definition of micro and macro businesses. Also, see the managementconcept and the styles used to run the public, private and social ventures. The entrepreneurare certainly not born but are made by education and experiences. The quality of a goodentrepreneur are education, management quality, innovations and past experience.TASK 1P1 Examining the types of Entrepreneurial venturesEntrepreneurship is the procedure of identifying the business opportunity and work onit to achieve these to explore all the possibilities. Without willing to take risks in the businessan entrepreneur is not establishing as risk is the main factor driving the growth.Entrepreneurship working on the small scale with limited number of employee's in it isreferred to as small businesses enterprises. The owner is known as the sole proprietor starting,controlling and managing the tasks all by his own (Carland and Carland, 2015). There aremainly three types of entrepreneurship i.e. private, public and social enterprises.a)Private enterprises- All the enterprises which are started up, managed and owned by onesingle individual or an independent companies are known as the private enterprises. Thebusinesses activities which are not regulated by the government or the state do not interfere inthe working of the enterprises that are privately owned are the private entrepreneur. The risksare borne by the single proprietor only and all the profits made by the enterprise are also theshare of the proprietor. If he wants he can involve any organisation or any other individual inthe profit making share but is again his call (Schaper and Gibson, 2014). Although thegovernment does not interfere means that it will not be part of the profits but the businessesoperating within the country must follow the laws of that country. The main motive of suchenterprises is to earn high income and diversify their businesses operations or venture. Theygenerally are not concern with the social motive or to grow the economy either. 1

b)Public enterprise- The company whose working are all subject to that of the governmentthat form of organisation which are owned and regulated by the government or the state.Whose shares are available and are traded on the stock exchange or over-the-counter market(Mariotti and Glackin, 2014). They are to follow more regulations and laws as compared toprivately owned company and they also have the greater access to financing. Organisationwholly or partly owned by the government and are controlled through public authorities arethe public enterprise. Their motive are growing the economy the work for society and thebetterment of people.c)Social enterprise- The enterprise which make the strategies to maximize the improvementin human and the environmental well being are known as social enterprise. They can also bedivide into for profit and non profit depending on the country in which the entity exists andthe legal structures of the country (Sarma and Borah, 2016). They are the enterprise whoworks for some social cause such as helping the poor and weaker section of the society, forthe education of the girl child, for empowering women etc.P2 Exploring the dissimilarities and the similarities between public, private and socialenterprise.The difference between the three types of enterprise are given below:Basis of differencePrivatePublicSocialDefinition They are the type ofenterprise which isconcern with theprofit making for theenterprise. This isgenerally owned by asingle owner.The type of entitywhich are regulatedby the government ofthe country in whichit is operating. Theywork in theshareholding form.The company whichwork only for thebetterment of thesociety help inupliftment of thepeople. They alsowork for theimprovement of theenvironment.ObjectivesAs they are set up foronly to earn profitsfor the entrepreneur.Concentrate on theirown betterment andexpansion. They look after theeconomy, work forthe grow of the nationand for generatingemployment.Their motive is toprovidethenecessities of the lifeto the poor andweaker section ofsociety. Work for2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurship and Small Business Management - Report
|15
|4137
|39

Entrepreneurship and Small Business Management: A Comprehensive Analysis
|24
|5235
|191

Entrepreneurship & Entrepreneurial Ventures | Assignment
|13
|4389
|95

ENTREPRENEURSHIP AND SMALL BUSINESS ENTERPRISE TABLE OF CONTENTS
|18
|4717
|383

ENTREPRENEURSHIP TABLE OF CONTENTS INTRODUCTION
|21
|7541
|63

Report on Evaluation of Types of Entrepreneurial Venture
|15
|5029
|77