Impact of Right Wing Populism on HRM

This assignment examines the influence of the rise in right-wing populism on Human Resource Management (HRM). Students are expected to analyze scholarly articles and research findings related to this topic, considering its implications for HRM practices. The focus is on understanding how right-wing populist ideologies and policies might shape recruitment, training, employee relations, compensation, and overall organizational culture within businesses.

ENTREPRENEURSHIP

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Types of entrepreneurial ventures ....................................................................................4
P2 Similarities and differences between entrepreneurial ventures.........................................5
TASK 2............................................................................................................................................7
P3 Impact of micro and small businesses on the economy....................................................7
P4 Contribution of small business and business start-up in the growth of the social economy. 8
TASK 3............................................................................................................................................9
P5 Characteristics Trait and skill of successful entrepreneurs...............................................9
P6 Aspect of Entrepreneurial Personality Reflect Motivation and Mind Set......................10
TASK 4..........................................................................................................................................11
P7 Background and experience can hinder or foster entrepreneurship................................11
CONCLUSION..............................................................................................................................12
REFERENCES .............................................................................................................................14

INTRODUCTION
There have been a lot of motives by which an entrepreneur start up an organization. He
has to keep in mind the factors that affects business in a positive or negative way. This project
will be focusing on various factors that will affect a well built enterprise. A successful
entrepreneur is the one who is ready to take risks for the establishment of his idea of business.
This report will also be dealing with the types of entrepreneurial ventures and the differences and
similarities among them. A business' capability to create impacts on the local and national
economy will also be discussed within this project report. The contributions that have been made
by the small and medium sized business firms in the economical development will also be
covered by this project. The personal background and traits of entrepreneurs that affects the
business will be another important part of this project report.
TASK 1
P1 Types of entrepreneurial ventures
The business ventures are classified according to many factors that classify them in
several categories (Armour and et. al., 2017). The subject to matter of the classification are
depend on the number of the employees within the organisation, annual turnover of business and
the total of the enterprise's balances sheet. The major classifications of entrepreneurial ventures
are as follows: Schumpeterian Entrepreneurial Ventures: Those small scale business firms operated
by the independent owners and directors of the organisation. They primarily target to
grow within the industry and earn maximum profit. They are majorly noticed for their
creative and innovative style of work practices that used in their working environment in
the company for the persuasion and exploitation of the opportunities. The Schumpeterian
entrepreneurs are even established as the owners of managerial businesses by developing
their small scale businesses (Baron and Tang, 2011). Intrapreneur Ventures: Intrapreneur ventures are the organizations where it is not the
owner who brought up the idea of establishing that particular business with his creativity
but some other person who works as an employee in the same organization. An

intrapreneur is most probably an employee with the abilities to implement the essential
principles and theories of entrepreneurship. They doesn't use their knowledge for their
personal benefits but the for the development of the organization and the achievement of
the organizational objectives. An intrapreneur venture can be considered as a result of
risking a lot of time, job and reputation of the employee as he serves as an intrapreneur
but becomes the entrepreneurship embodiment embodiment with the large companies. Established Ventures: Established companies are such firms that employs a minimum
number of 500 people . The objectives of the established firms are generally to make
more revenue and profit for the venture and its shareholders they can be companies that
may be producing tangible goods or non tangible services but the capital providers of
such company may be subsidiaries, revenues or tax credits. Such organizations are also a
god cause for the society as they are comparatively large scale firms who could employ
many human resources and provided the customers products that fulfil their desire
(Breugst and et. al., 2012).
 Social Good Enterprises: Social good enterprises are those organizations established
with the main motives related bringing change in the society in some or other way by
promoting the theme and making the world a better place. They majorly focusing on their
goal of promoting the idea to bring a better world in existence by getting over the
negative aspects in the society. They focus on a theme or maybe a set of them and
conduct activities in order to promote awareness of the society and rise thoughts of its
welfare. They don't aim in making profits in terms of money but they measure their
success in form of impact of their activities on the society and the participation from non-
members in the society as they make it happen (Brooks and et. al., 2014).
P2 Similarities and differences between entrepreneurial ventures
Let the discussion be on the similarities of characteristics and traits of
the entrepreneurial ventures: Challenging and Risk taking: The major similarities in all types of
the business ventures is that the entrepreneur have to face the
challenges that comes in the journey of their business. An
entrepreneur in any type of the business venture must be ready to
take risks because there is no success without risks. Risks are a major

and essential part of a businessman's life. He has to take many risky
decisions for the development and growth of his enterprise.
Entrepreneurs, let they be in a small business firm or a large scale
venture of business, their basic objective is to earn profit and make
growth and development in the industry and it is impossible until or
unless he create a positive impact in the field of his business. And for
creating impacts in the industry, the company have to take risks such
as introducing a new article in the industry or cost reduction of the
products similar to the competitors (Cumming and Zahra, 2016).
 Creative and Innovative: There is an idea behind every successful
business and that ideas are never common or they are never one of
those usual ideas that come in people's mind in a day to day schedule.
The idea has the person's creativity of ringing up a new business that
would be a good deal for the money he is investing on his own idea.
The innovation he is bringing up in his idea in order to create a new
product, may be a tangible one or a intangible service to the
customers (Cumming, Wood and Zahra, 2016).
There are various differences too amongst all the types of
entrepreneurial ventures that we have been discussing above:
Basis Schumpeterian Venture Lifestyle Business Social Good Enterprise
Type of
Firm
These are the small
business based on
innovative ideas of the
entrepreneur.
They are inclusive of a
variety of companies
including freelancers and
micro-business enterprises.
Social good enterprises are
non governmental
organizations aiming
social welfare.
Definitio
n
The companies that are
not dominating in the
industries but are
independently owned by
businessmen or the
shareholders and aim for
These organizations run for
monetary profits with skills
of a combination of skills of
an entrepreneur, and passion
as the prime motivation.
These organizations are
built to make this world
better by their creative and
innovative programs as
solutions.

making monetary profits.
Goal The aims of these
companies are to grow in
the industry and earn more
profits.
These firms wishes t earn a
residual income with the
business towards a long
term sustainable situation
keeping up the passion and
expertise of the
entrepreneur.
These firms aim to make a
positive impact on the
society and increase social
awareness and welfare of
the society.
TASK 2
P3 Impact of micro and small businesses on the economy
There are classifications of entrepreneurial ventures according to the
size of the organizations. A firm with less than ten employees involved in
the operations of the company are known as micro business enterprises.
Small businesses are the firms that employs a number of employees from 10
to 49 individuals . Medium businesses are referred to those companies that
employs 50 to 249 people under their company. And a company that
employs 250 people or more than 250 people under the organization, it can
be categorized under large businesses (Elkington and Hartigan, 2013).
The European Union uses the term SME for Small and Medium
Enterprises . Almost 90% of the whole businesses represented in United
Kingdom are SMEs in the European Union. EU supports the provision of
programs that are targeted specifically on on small and medium businesses
and the definition of the SMEs are important for the financial access. The
major aspects that have been classifying SMEs from other forms of business
enterprises are the headcount of employees working within the
organization, either the total of the balance sheet of the organization or the
annual turnover of the firm. UK government has been discussing about
giving more importance to the growth of SMEs in the nation as it seems to
be the most growing forms of entrepreneurial ventures in the term of size in

the United Kingdom. Almost 99% of the overall businesses in United
Kingdom are Small and Medium Enterprises and there are more than 12
million people working under them. SMEs are playing a very important role
in the growth of the national economy and they have been a major source of
employment in the United Kingdom (Georgiadis and Pitelis, 2012).
Category Headcount of Staff Balance Sheet Total Annual Turnover
Micro-Enterprises <10 ≤ £2 m ≤ £2 m
Small Companies <50 ≤ £10 m ≤ £10 m
Medium sized firms <250 ≤ £50 m ≤ £43 m
The small and medium companies have been the establishments started by
the entrepreneurs with their business ideas. The amount of 99% of the
whole businesses in England means a lot for the economy. The number of
SMEs in UK denotes the number of business ideas made applicable by the
entrepreneurs in order to bring up with effective results of their
establishments. The smallest kind of business as per the classification
according to the size of the organization are sole proprietorships. Sole
proprietorships are those ventures where there is just a single person
handling the charge of all the operations and other processes inclusive of
sales to accounting (Goffee and Scase, 2015).
P4 Contribution of small business and business start-up in the growth of the
social economy
It was in the 1980s when the idea of entrepreneurship came to
existence when there was a recession and there was a large scale
unemployment. This lead to the supply part of the national economy and the
factors are to be determined to know the economical growth. And then
there was a revolution on 1990on the role of small business firms and those
revolutionary ideas resulted in the creation of the ultimate idea of
entrepreneurship. There was a major objective, that is, to link the
programmes of the entrepreneurship to the economic growth of the country

and that was performed for the investigation of the relationships between
the micro and macro parameters of the economy, industrial growth and
development, economic evaluation and the history of the national economic
development. These are the aspects in which the small and medium
businesses have been contributing to the national and social economy: Contribution: A start up which is small business as when defined by
the amount of employees in the organization is less than 500 at the
workplace and the contribution of being at 99% have been impressive
rate in the overall employers in the country. It is one of the major
portion of the economy that is providing the majority of employment
in the country (Green, 2013). Economic Growth and Social Development: SMEs have been
contributing in the economic growth of Britain and by bringing new
sections and innovations in the community. Development of the
society is another part where the small and medium businesses
majorly contribute by providing employment to the human resources
that have been left idle in the society's different parts. The
unemployed gets a job and earns money for the efforts they make to
achieve the organizational goals of the SMEs effectively and thus
fulfil their desires of being responsible for their families and society
(Landes, Mokyr and Baumol, 2012). Reduction of Poverty: Small and medium businesses helps in the reduction of of
poverty as it involves the provision of loans in order to establish a business by which
people can be lift over poverty by their business. The local producers are also helped in
the production of more foods keeping the low cost of the business. Revenue to Government: Small and medium businesses have been generating revenue for
the government with the payment of taxes and by bringing in more of the foreign
exchange transactions and it is also considered as a contribution.
 Improved UK Economic Condition: The forecasts of the real GDP growth rate by the
small and medium businesses was immediate after the Brexit caused delays. The

predicted status of the delays in business and the plans for investment and the incomes of
the household was initially squeezed out by the hike of inflation.
TASK 3
P5 Characteristics Trait and skill of successful entrepreneurs
These are some traits and skills of a successful entrepreneur who can
be clearly differentiated from the business managers:
 Determination: A person who establishes his own business and
becomes an entrepreneur, have to set his objectives and must focus
on the growth of his business as to give a push to the amount of sales
and recruitment of new employees for the business. An entrepreneur
must determined of what he is doing and he is doing it right. He must
have his focus on his own views and goals in order to be successful
and prove that he is different from being just a business manager
(Liñán, Nabi and Krueger, 2013).
 Risk Taking Mentality: An individual's thought of establishing a
new business have to go through many phases of hurdles and that
comes in the path and in order to cross those hurdles, they have to
take risks. They have to increase their expenditure and budget so as
to improve the product with innovations and satisfy the customers by
fulfilling their desires and sometimes they themselves may not know it
will lead to profit or loss.
 Confidence: An entrepreneur must be confident because they
usually know that they will be going though bad times and absolutely
go through it in order to succeed. An entrepreneur has to go through
many critical situations. They must be knowing that bigger the
challenges, greater the reward. This will lead to a open way towards
better opportunities and scopes to endure their business (Liñán,
Santos and Fernández, 2011).
 Crave to learn: The economical conditions and the policies
applicable in the economy and the business situations keep change

within a very limited time period and the entrepreneur must have the
crave to keep learning new things so as to keep going with the speed
of the generation. There are new technologies in the market each
day. If the entrepreneur have to know about those latest technologies
that would help him advance his business, he has to keep the interest
of reading and learning from various resources in order to stay
update.
 Spontaneous Adaptation: Entrepreneurs must have the habit of
keeping themselves adapted to the new challenges that keeps coming
for their business and they have to overcome with their best works of
the operations. The adaptability spirit helps them to get adjusted in
every condition and help them in growing faster with time.
Adaptability helps an entrepreneur to take better decisions ass
experience brings him the knowledge of handling risks (Loader,
2015).
 Passion: Being passionate in what a person is doing will affect the
business in a very certain manner. Passion builds the confidence,
determination and interest he have in the activities he is doing in the
business. A passionate entrepreneur must have the will power to
complete the task he is doing within the time he has decided to do it
because the passion of business will make him do it with all the
interest.
P6 Aspect of Entrepreneurial Personality Reflect Motivation and Mind Set
Personality development is something that enhances an individual's
impression. An entrepreneur has to hold such a personality that should
make a sign of his identity and let all others be inspired by it. Development
of an entrepreneur's personality is a necessity as he has to endure his skills
and ability to make a good impression amongst others and it will have the
same positive impact on the company and will help in the motivation of the
employees working in the organization. These are the factors that must be

present in the personality of an entrepreneur, his motivation and his
mindset: Reduces stress and conflict: A good personality reflects the attitude of staying away
from conflicts and taking the risks positively. Personality development of an
entrepreneur, in this case, will provide him the power to focus on the brighter side of the
conditions he will face and he will have smile on his face even in the bad times, as it is
the best attitude to take everything positively (Mitchell, 2016). Encourages positive attitude in life: A person's negative attitude will always take him
towards problems. A negative attitude in an individual's personality means he has been
thriving through his past and he will be lead to a bad situation in the future. The positive
mindset of an entrepreneur will help him frame better strategies concentrating on the
strengths of the venture. Instead, the negative mentality of an entrepreneur will be
thinking about the possibility of crisis and the loss he will be making then. Personality helps entrepreneurs to inculcate positive qualities: An entrepreneur actually
have to possess many positive qualities as he have to maintain relationships with the
clients and other major part of the business, he has to deal with the customers and he has
to motivate his employees to work well to achieve the goals of the organization.
Punctuality, dressing sense, patience, friendly nature and the attitude to learn new things
are a must for an ideal entrepreneur (Mitchelmore and Rowley, 2013). Confidence: Its an aspect included as the part of personality itself. A person have to be
confident in order to take serious participation in the entrepreneurship business. As an
entrepreneur, he may have to give presentation in front of the public and his confidence
attending the audience and the matter he speaks are a matter of impression. He has to be a
confident speaker and confident doer at the same time, as he has to do what he says as the
way he thought it to be done.
 Credible: This means that an entrepreneur must be eligible to meet others expectation
with his personality and the activities he perform. He has to be well dressed while in
public place and meeting important people, as the people may judge him by his
appearance, dress and behaviour (Mullins, 2013).

TASK 4
P7 Background and experience can hinder or foster entrepreneurship
There are certain factors that are accepted as the benefits of doing
effective business as an entrepreneur. Some of those rewards that they get
for their efforts in the business activities are:
Control: An entrepreneur opts his field of work on which he feel the
comfort zone along with the skills and strengths that he possess and he
know he would come out with the satisfaction of his job.
Excitement: Entrepreneurs are involved in their work with joy and they indulge their
colleagues and subordinates to have fun at work so that they don't get bored but complete the
work enjoying each others company by which they may get more productivity.
Freedom: Entrepreneurs are free to work as they have no pressure from above from any
superiors as they are the ones owning their own business ventures. Many of the entrepreneurs
work with the freedom as they are not working but as if they are having fun in some activity they
have passion in (Pache and Chowdhury, 2012).
There are not just benefits for the efforts an entrepreneur make in order to take his
venture to success. He has to face many problems in various other factors too:
Administration: Decision making is not always an easy process. Sometimes the process
proves to be complex and the involvement of a lot of paper works makes it waste of time and
energy.
Competition: To go through the competitive situations is a tough task for the
entrepreneurs. An entrepreneur has to create visible changes so as to differentiate his own
product from that of his competitors. The differentiation in that matter may be the subject to
build a base of customers and profitability for the company.
No Regular Salary: As an entrepreneur is the employer to himself and he may keep the
failure of business to himself and not pay for his own efforts in the business but he has the duty
to pay his employees who are a part of his organization (Shorrock and Richards, 2016).
There are many factors from an entrepreneur's personal background and past experiences
that hinders or foster his entrepreneurship such as:
Education: This is one of those factors that may be a subject to foster to the
entrepreneurship. An entrepreneur who is well educated may have the knowledge of business

plans and strategies and other tools to be made applicable within the organization as for the
effective working environment is to be maintained within the company. He is aware of the facts
and figures that may bring his company to grow and develop in the industry.
Family support: It is a motivational factor for an entrepreneur while the establishment of
the business venture as the family members supports him and it inspires him to work hard.
CONCLUSION
Entrepreneurs have been maintaining a very important role in the development and
growth of the national economy of United Kingdom. Therefore, we have been discussing on the
factors that have been affecting the entrepreneurship ventures and their individual entrepreneurs
in this project. This project have dealt with the impact of personal background and experiences
of entrepreneurs in their business ventures (Zhang, 2011). The report has also included the
contribution of Small and Medium Enterprises in the uplifting of UK's national and social
economy.

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