Entrepreneurship & the Small Business Management Strategies
Added on 2020-06-03
14 Pages4780 Words41 Views
EntrepreneurshipProfessional Development
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ENTREPRENEURSHIP & SMALL BUSINESS
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TABLE OF CONTENTINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Different types of entrepreneurial ventures and their relation with typology........................1P2 Similarities and differences between entrepreneurial ventures..............................................2TASK 2............................................................................................................................................3P3 Relevant data to understand impact of small business on economy......................................3P4 Contribution of small businesses and start ups on social growth...........................................4TASK 3............................................................................................................................................6P5 Traits and skills of successful entrepreneurs..........................................................................6TASK 4............................................................................................................................................9P7 Ways in which background and experience hinder and foster entrepreneurship...................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONA person who have distinctive thought process and these ideas he/she is putting inrunning a business is called as entrepreneurship and person who is involved in this procedure isdefined as entrepreneur and business entity is called as enterprise. There are lots of ways inwhich entrepreneur can put his idea like manufacturing, promotion, placing etc. main advantageof entrepreneurship is to get competitive advantage because working in different style makesbusiness entity different from other corporate houses. This report is based upon Wiser Co. whichis a creative and recruitment consultant firm which is running its operations in UK. This ventureis providing beautiful and dynamic career options that is helpful for youngsters in achieving theircareer goal. TASK 1P1 Different types of entrepreneurial ventures and their relation with typologyIn an enterprise, there are many tasks and actions which cannot be done by entrepreneuralone so to accomplish this purpose, main requirement of business owner is to have sufficientnumber of people employees whom should be expert in their working so that all actions could bedone in most appropriate manner along with in distinctive way. This action is only be done forwhen entrepreneur make aware all workforce about mission and vision of enterprise because ofgetting information about aims and objectives, manpower get to know that what they have to doin which time period. Small Business Enterprise: This type of firms are operated by single human being andmain objective of staring this type of venture is to cater needs and wants of owner himself alongwith his family members. Main instances of this kind of enterprises are painters, carpenters,plumbers, retail shop owner etc. These people run enterprises for fulfilment of their dailyrequirements.Scalable Start-Ups Entrepreneurship: Growth of this kind of ventures are noticed as pertime passes. Individual who is able in running this type of corporation is a person whom iscapable in generating funds from many financial resources. Main objective of firm is to enhanceliving standards of society by serving them qualitative goods and services. All sort of businessoperations rely upon sources of finance and it is a job of entrepreneur that he/she should arrangeand manage requisite amount of fund so that all actions could be done in appropriate manner. In1
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