Entrepreneurship and Small Business Management - Entrepreneur Ventures Types

   

Added on  2021-02-19

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Entrepreneurship and Small BusinessManagement
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Types of entrepreneur ventures and their relation to typology.........................................1P2 Differences and similarities between entrepreneur ventures............................................2P3 How small businesses and micro businesses impact on the economy............................4P4 Significance of start-ups and small business in growing of social economy..................6P5 Skills, Traits as well as characteristics of successful entrepreneurs.................................8P6 Entrepreneurial personality reflects the entrepreneurial mindset and motivation.............9P7 Background and experience can foster or hinder entrepreneurs......................................1CONCLUSION................................................................................................................................2References........................................................................................................................................3
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INTRODUCTIONEntrepreneurship can be defined as the process of designing, staring and operating of anew business which is normally started as a small business. A person who starts a business iscalled as entrepreneurs. In simple terms entrepreneurship is the willingness and capacity fordeveloping, organising as well as managing a business venture along by taking risks to makeprofit (Hatten, 2015). Small business management is a process which entrepreneurs make usewhile running their operations of the business. To run a small business it often requires thatentrepreneurs have wide knowledge and skills related to operate business successfully. Thisreport includes range of ventures types which might considered by entrepreneurs and also assessthe impact of small business on country's economy. Current report also includes the what is thekey aspect of entrepreneurial mindset and also includes the different environments which fosterand hinder entrepreneurship. Entrepreneur: Entrepreneur is a individual who starts a firm with investment and take riskswith a hope of making profits. Entrepreneurship:It is the process of running a business, it is also the ability of managing andorganising the business ventures to make profits.Entrepreneurial venture: It means starting a new venture every day and helps in creating thesubstantial wealth more than a regular business. Enterprise: It is the another name of the business and this word is used to describe the actions ofan individual who takes initiatives by taking risks, investing a certain amount of money in orderto run a business. TASK 1P1 Types of entrepreneur ventures and their relation to typologyThere are various types of entrepreneur venture which can be explained as below:Established company: It is the company which is being officially approved or recognised as itis already existing for the long-time in the market. For example M&S is the established companywhich is the UK's renowned retailing company and has been existing for 135 years in thebusiness.Small size social ventures: These are the ventures which are run by small firms or companieswhich are established by social entrepreneur who seek to offer solutions in order to achieve1
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