Diploma in Business Assignment PDF

Higher National Certificate/Diploma in Business
Assignment Brief
Student name/ ID Number Surya D Talukdaar
Unit Number and Title 9 Entrepreneurship and Small Business Management
Academic Year 2018-19
Unit Tutor Ms. Meher Patel
Assignment title Entrepreneurial Ventures & Exploration of the
Entrepreneurial Mindset
Issue Date 04/04/19
Submission Date 10/07/19
IV Name & Date Ms. Shreya Kanjariya – 15/07/19
Submission Format:
Task 1( LO1, LO2,LO3 & LO4)
The submission in the form of an individual written report to small businesses. You are required
to make use of headings, paragraphs, subsections and illustrations as appropriate and all work
must be supported with research and referenced using the Harvard referencing system. Please
also provide a bibliography using the Harvard referencing system. The recommended word limit
is 6,500–7,000 words, although you will not be penalized for exceeding the total word limit.
Unit Learning Outcomes:
LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial.

LO2 Assess the impact of small businesses on the economy.
LO3 Determine and assess the key aspects of an entrepreneurial mindset.
LO4 Examine the different environments that foster or hinder entrepreneurship.
Assignment Brief and Guidance:
Task 1 (LO1 & LO2)
You currently work for a consultancy firm that provides advice and market intelligence to small
businesses and entrepreneurs. You have been asked to choose one example of each type of
entrepreneurship which should be a local business. As a part of creating report, you have been
tasked for following:
1. Examine different types of entrepreneurial ventures and how they are related to the
typology of entrepreneurship.
2. Explore the similarities and differences between entrepreneurial ventures.
3. Assess and interpret relevant data and statistics to illustrate how micro and small
businesses impact on the economy.
4. Explain the importance of small businesses and business start-ups to the growth of the
social economy.
5. Determine the characteristics traits and skills of successful entrepreneurs that
differentiate them from other business managers.
6. Assess how aspects of the entrepreneurial personally reflect entrepreneurial motivation
and Shared mindset.
7. Examine, using relevant examples, how background and experience can hinder or foster
entrepreneurship.
Grading Criteria
Learning Pass Merit Distinction

Outcome
LO1 Explore and
illustrate the
range of venture
types that might
be considered
entrepreneurial.
P1 Examine different types of
entrepreneurial ventures and
explain how they relate to the
typology of entrepreneurship.
P2 Explore the similarities and
differences between
entrepreneurial ventures.
M1 Investigate a
diverse range of
entrepreneurial
ventures to
demonstrate an
understanding of
entrepreneurship in
both the public and
corporate sector.
D1 Critically examine
the scope,
development and
growth of
entrepreneurial
ventures.
LO2 Assess the
impact of small
businesses on the
economy.
P3 Interpret and assess
relevant data and statistics to
illustrate how micro and small
businesses impact on the
economy.
P4 Explain the importance of
small businesses and business
start-ups to the growth of the
social economy.
M2 Evaluate the
differences that small,
medium and large
businesses make to the
economy, applying
relevant data and
statistics.
D2 Critically examine
how small businesses
have an impact on
different levels of the
economy in a local,
regional, national and
international context.
LO3 Determine
and assess the
key aspects of an
entrepreneurial
mindset.
P5 Determine the
characteristics traits and skills
of successful entrepreneurs
that differentiate them from
other business managers.
P6 Assess how aspects of the
entrepreneurial personally
reflect entrepreneurial
motivation and mindset.
M3 Explore and
examine different lines
of argument relating to
entrepreneurial
characteristics.
D3 Analyze the
characteristics traits,
skills and motivational
drivers of successful
entrepreneurs,
supported by specific
examples.
LO4 Examine the
different
environments
that foster or
hinder
entrepreneurship
.
P7 Examine, using relevant
examples, how background
and experience can hinder or
foster entrepreneurship.
M4 Analyze the link
between
entrepreneurial
characteristics and the
influence of personal
background and
experience to specific
successful
entrepreneurs.
D4 Critically evaluate
how background and
experience influences
entrepreneurs, both
positively and
negatively, by
comparing and
contrasting examples.
STUDENT ASSESSMENT SUBMISSION AND DECLARATION

When submitting evidence for assessment, each student must sign a declaration confirming that the work is
their own.
Student name: Surya D Talukdaar Assessor name: Ms. Meher Patel
Issue date:
4th April 2019
Submission date:
10th July 2019
Submitted on:
10th July 2019
Programme:
Pearson BTEC HNC in Business level 4 - RQF
Unit:
Unit 9: Entrepreneurship and Small Business Management
Assignment number and title:
Entrepreneurial Ventures & Exploration of the Entrepreneurial Mindset
Plagiarism
Plagiarism is a particular form of cheating. Plagiarism must be avoided at all costs and students who break
the rules, however innocently, may be penalised. It is your responsibility to ensure that you understand
correct referencing practices. As a university level student, you are expected to use appropriate references
throughout and keep carefully detailed notes of all your sources of materialsfor material you have used in
your work, including any material downloaded from the Internet.Please consult the relevant unit lecturer or
your course tutor if you need any further advice.
Student Declaration
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the
consequences of plagiarism. I understand that making a false declaration is a form of
malpractice.
Student signature: Date:

Index
Sr. No.Contents Page No.
1 Executive Summary 2
2 Introduction 3
3 Examine different types of entrepreneurial ventures
and explain how they relate to the typology of
entrepreneurship.
4
4 Explore the similarities and differences between
entrepreneurial ventures.
12
5 Interpret and assess relevant data and statistics to
illustrate how micro and small businesses impact on
the economy.
16
6 Explain the importance of small businesses and
business start-ups to the growth of the social
economy.
23
7 Determine the characteristics traits and skills of
successful entrepreneurs that differentiate them from
other business managers.
25
8 Assess how aspects of the entrepreneurial personally
reflect entrepreneurial motivation and mind-set.
33
9 Examine, using relevant examples, how background
and experience can hinder or foster
entrepreneurship.
35
10 Authors conclusion 38
11 Bibliography 39
1

Executive summary
This report starts with examining the different types of entrepreneurships in the
business sector and what kind of business typologies each of them are related to.
The report then gives a tabular representation of the differences and similarities that
each of the businesses have.
Further on, the report assesses and interprets the entrepreneurships’ relevant data and
their statistics to illustrate how micro and small businesses impact on the economy.
Explanation of the importance of small businesses and business start-ups that are
supported for the growth of the social economy is given in the report.
Characteristics traits and skills of successful entrepreneurs that differentiate them
from other business managers are determined and applied in situational context in the
report.
This report will help in assessing the aspects of the entrepreneurial personally and its
reflection on entrepreneurial motivation and shared mind-set.
The report then finally analyses the impact (hinder or foster) that the background and
experience of the entrepreneurship will have on the company.
2

Introduction
Shree Mahila Griha Udyog Lijjat Papad, more commonly known as Lijjat, is a
women’s cooperative that is in the manufacturing of multiple fast-moving consumer
goods.
It currently has operations all over India and does a significant amount of export of
their products.
The products it sells include Papad, detergent, soaps, cottage leather, incense sticks,
matches, etc.
It has employed 43000 employees, majority of which is made up of women. As of the
last recorded profit, it had earned over 109 million dollars.
3

Entrepreneurship
Definition: Entrepreneurship is the willingness and ability to bear uncertain risks and
to make decisions in a business. Entrepreneurs are the people who bear this risk of
losing their money, if the business fails (Grant, 2008).
Enterprise is the driving force, provided by risk-taking individuals, that combines the
other factors of production into a unit capable of producing goods and services. It
provides a managing, decision-making and coordinating role.
Public Entrepreneurship
Typology
A public enterprise is an enterprise or business that the public, often the government,
controls. This is not limited to central government; locally owned or controlled
enterprises, such as municipal water and sewer companies, are also public
enterprises. The government has the final say on the directors of the enterprise and
major policy decisions. Any profits are either invested back into the company, or they
go to the government, (Bizfluent.com, 2010).
Artificial Limbs Manufacturing Corporation of India (hereafter referred to as
ALIMCO) is a public entrepreneurship whose objective states that it not only wants
to develop the ability and availability of artificial limbs but they would also help and
promote other manufacturers that have the same set of objectives to manufacture
prosthetic limbs. This emphasises on the fact that this entrepreneurship was
established, on 1976, for the purpose of uplifting the entire industry of artificial limbs
manufacturing.
ALIMCO is an inrepreneurship type as the objectives also mentions carrying on the
business of manufacturers, buyers, sellers, importers, exporters, dealers in and of
Artificial Limbs and accessories and constituents thereof and all other things which
can be or may conveniently be used for the manufacture of or in connection with such
articles, things as aforesaid. This diversification in one organisation itself clarifies the
typology of intrapreneurship of seeking to improve the existence of an existing
organisation.
It also a technical entrepreneurship as the artificial intelligence and simulation
testing of the prosthetic limbs which makes ALIMCO a product-oriented market. The
innovative qualities and development of in-house technology upgradation are some of
the reasons why this government undertaking is in this category.
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