PDF Entrepreneurship and Small Business Management
Added on 2020-10-05
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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Examine different types of entrepreneurial ventures........................................................3P2 similarities and differences between entrepreneurial ventures.........................................5TASK 2............................................................................................................................................7P3 micro and small businesses impact on the economy.........................................................7P4 small businesses and business start –ups will contribute to the growth of the socialeconomy.................................................................................................................................8TASK 3............................................................................................................................................9P5 Determine the characteristics, traits and skills of successful entrepreneurs.....................9P6 Personality of entrepreneur act as a motivational tool...................................................11TASK 4..........................................................................................................................................12P7 Background and experiences which can hinder or foster entrepreneurship....................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONSmall business organisation are increasing in ratio now a days because everyone wants tobring their own business in market (Anderson, Drakopoulou Dodd and Jack, 2012) . These arefully controlled and managed by sole traders, private firms as well in this less number of peoplesare working for achieving goals and objectives of business. Private or small organisation help ingrowth of economy of particular nation. Mainly such enterprises come in market with someinnovative or new products and services. Although the person who introduce such organisationsare known as entrepreneur and they are the risk taken as well innovative. In this assignment,different types of entrepreneurial ventures are explained with their role and characteristics. Aswell effect of micro and small business on economy along with their importance in economicdevelopment. Apart from this, different elements related to entrepreneur are also explained. TASK 1P1 Examine different types of entrepreneurial venturesEntrepreneurial - An entrepreneur is person who start and run business with minimumamount of resources as well bring something innovative or creative in market area. They are theindividual person who is risk taker because without any risk there is no chances of growth anddevelopment in business. Entrepreneur must have to analyse market in proper manner,customers needs and wants. After that proper planning must be done so that their will be nochances of any hazards in between. Entrepreneurship – It is important part of economy because of this economicdevelopment and growth take place. Entrepreneur are the person who is self motivated, actionoriented and proactive person who easily take decision related to business by their own. Mainlydecisions are related to the innovation or invention of products and services which is importantfor survival in market. When an entrepreneur come in market with its entrepreneurship this willgenerate employment opportunity for several people of particular nation. Thinking of the samemust be out of box so that they can attract or grab large number of customers from market area. Some key entrepreneurial ventureSocial enterprises – Such business are mainly focusing on social services they always tryto fulfil needs and wants of customers by offering them best quality of goods andservices. Thus, they are focusing on social values and society along with this they are
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