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Entrepreneurship and Small Business Management- doc

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Added on  2020-01-28

Entrepreneurship and Small Business Management- doc

   Added on 2020-01-28

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ENTREPRENEURSHIPAND SMALL BUSINESS MANAGEMENT
Entrepreneurship and Small Business Management- doc_1
Table of ContentsINTRODUCTION......................................................................................................................3TASK 1 .....................................................................................................................................4P1 Different types of entrepreneurship ventures and typologies...........................................4P2 Similarities and differences in entrepreneurial ventures..................................................4M1Diverse range of entrepreneurial ventures.......................................................................5D1 Examine the scope development and growth of ventures...............................................5TASK 2......................................................................................................................................6P3Assess how SME impact on the economy.........................................................................6P.4How SMEs will contribute to growth of social economy ...............................................6M2 Effect of small, medium and large business on the economy.........................................6D2Critically examine how SMEs impact on levels of economy...........................................7TASK 3 .....................................................................................................................................7P.5Characteristics and traits of successful entrepreneurs .....................................................7P.6Entrepreneruial motivation and mind-set.........................................................................8M.3 different lines of arguments regarding characteristics of entrepreneurs........................8D.3 characteristic traits, skills and motivational drivers of successful entrepreneurs...........9TASK 4 .....................................................................................................................................9P.7examine how background and experience can hinder or foster entrepreneurship...........9CONCLUSION .......................................................................................................................10REFERENCES.........................................................................................................................10
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INTRODUCTIONEntrepreneurship is something which is related with starting a new business by anindividual which wants to gain profits and sustainability. Entrepreneurship has beentraditionally defined as to design, launch and start or also to running a business operation of afirm by which entrepreneur can earn profits and their desired goals. Entrepreneurshipgenerally begins as a small business for an example start-up company, offering a product,process or service for sale or hire (Lee-Ross and Lashley, 2010). The people who start uptheir own business firm are called Entrepreneurs.in this present report it has been discussedthat there are many forms of entrepreneurship which are now in very much form or hike. Inaddition to this it has also been discussed that there are many types of entrepreneurialventures and their typologies. Also, there are similarities and differences between differententrepreneurial ventures. Furthermore, it has been reported that there are some characteristicsof successful entrepreneurs which make them different from others in this industry. Also,micro and small industries also affect entrepreneurship as well as on economy. It contributedto the growth of overall economy of country.TASK 1 P1 Different types of entrepreneurship ventures and typologiesEntrepreneurship ventures means different forms of entrepreneurship which exist incurrent world. Entrepreneurship means starting up of business venture and putting efforts torun, operate their operations which will accomplish their desired and set goals and objectivesof company. In other words, it can be said that it acts like a start-up company which proposesfoods and products or services for sale and hire purpose. Entrepreneurship Enterprise can bedefined as a willingness and capacity to perform different types of functions which are relatedto the development, organization and managing a business organization. There are differentforms of entrepreneurial ventures that are as follows:Small business entrepreneurship: this is the foremost kind of entrepreneurialventures in the market area of industries. Small scale business entrepreneurialventures are those in which start-up is done at the small level (Storey andGreene,2010). It includes various small business entrepreneurs which includeshairdressers, consultants, travel agents, internet commerce start up etc. The main aimof small business is to feed the family. Large company ventures: large companies have infinite life cycles. Largecompanies are those business enterprises which aim to make profits and sustainability.The main focus of the owners of these companies are to build their image in thecompetitive world. They want to explore new things and innovations which can fostertheir performance in the market area.Social entrepreneurship: social entrepreneurship venture is those in which mainfocus is on the creation of those business products and services which are for thebeneficial for the society. These are those social products which are formed to solvethe social needs and wants of societal people.Different types of typologies that an entrepreneur are engaged with are;Serial Entrepreneur: It is the entrepreneur which starts or commences theirbusiness after other or also begin multiple business at the same time.
Entrepreneurship and Small Business Management- doc_3
Social entrepreneur: He is an entrepreneur which is related to the bettermentof society. This type of entrepreneur performs various types of functionswhich are related to social aspect and for overall development of society.Their basic aim is to create goods and services which serves as a basis foroverall and entire development of people and society.Female Entrepreneur: These are those entrepreneurs who revolutionise orinnovate any business activities are called as female entrepreneurs. P2 Similarities and differences in entrepreneurial venturesThere are many entrepreneurial ventures that are presented in the market industry. It isto be recorded that there are many similarities and dissimilarities between them.Entrepreneurial ventures are those which are related to each other in the context of businessenterprises. The various similarities between small business entrepreneurial ventures and largescale business enterprises are as: Both are the types of business entrepreneurial ventures. These are related tostart-up also, to run, operate and conducting its business creativities. Small scale business enterprises and large scale business are formed to give an individual to use its own skills and capabilities by which they can complete their targets and tasks (Burns, 2010).There are also many dissimilarities between them are as:Small scale venturesLarge scale enterprisesThese are operated by anindividual because to feed andfulfil the needs and wants oftheir families.This form of enterprise mainlyfocuses on to nourish the wantsof the family.Their definition of success is notto make profits of 1 billion orover. This business enterprise ventureis mainly focus on to makeprofits and gains. They use their innovation skills,offers new products to itscustomers, that are variant to itscore products.Their main motive is to makeprofits over 1 billion and over ofit. There are many differences that are recognised between different types of entrepreneurial ventures that can be defined as;Lifestyle entrepreneurshipSerial entrepreneurshipThis is a form of entrepreneurship which is related to the art of an entrepreneur whose way of choice happens or causes to be his business.He can be classified as conscious capitalist.This is an another form of business entrepreneurship which is related to seeking or searching the next person with whom he can share his art. He can be regarded as business man.Female entrepreneurshipMale entrepreneurship
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