Unit 9- Entrepreneurship and Small Business Management
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Added on 2020-10-22
Unit 9- Entrepreneurship and Small Business Management
Added on 2020-10-22
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QualificationUnit number and titleUnit 9 Entrepreneurship andSmall BusinessManagement (level: 4)Lecturer declarationI certify that the work submitted for this assignment is complete and appears appropriate for marking. Where work is not deemed complete or suitable for marking, please identify issues and any further deadlines.Lecturer name:Lecture signature: Date:
Entrepreneurship and Small BusinessManagement
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4P1 Different kinds of Entrepreneurial ventures and typology of entrepreneurship....................4P2 Similarities and Differences between Entrepreneurial ventures............................................6M1 : ............................................................................................................................................7D1 : .............................................................................................................................................7TASK 2............................................................................................................................................7P3 Relevant data and statistics to determine impact of micro and small business on economy.7P4 Importance of small businesses and businesses start-ups to the growth of social economy.8M2 : ............................................................................................................................................9D2 : .............................................................................................................................................9TASK 3............................................................................................................................................9P5 Characteristic and skills of Jack Cohen or other entrepreneurs and how they differentiatefrom the other managers..............................................................................................................9P6 Entrepreneurial personality of Jack Cohen or another entrepreneur and reflection on theirentrepreneurial motivation and mindset....................................................................................10P7 Background and experience can hinder or foster entrepreneurship.....................................11M4 : ..........................................................................................................................................12D3 : ...........................................................................................................................................13D4 : ...........................................................................................................................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................15
INTRODUCTIONEntrepreneurship is analysed as capacity and willingness to develop, organize andmanage a business venture along with any of its risks in order to make a profit. Small businessenterprise is regarded as organization that employs a few workers and does not have a highvolume of sales. In UK, 99% of private sector enterprise comes under category of SME whichare established by entrepreneur with new ideas and innovation for purpose of maximizingprofitability. In this report, different kinds of entrepreneurial ventures that operates in economyare discussed along with typology of entrepreneurship. Relevant data and statistics have beendiscussed to determine influence of micro and small business on the economy. In addition,importance of small business and start-ups towards the growth and development of socialeconomy is also determined with relevant examples. Entrepreneurs are considered as key drivers that carry out economy towards growth anddevelopment by introducing new business and ventures. In this study, traits and skills of JackCohen and other successful entrepreneur have been defined which differentiate them from othermanagers. At last, study will determine how the background and experience can hinder andfoster entrepreneurship. TASK 1P1 Different kinds of Entrepreneurial ventures and typology of entrepreneurshipEntrepreneurship is both the study of the ways through which new businesses are createdand actual process of introducing a new venture. An entrepreneur is a person who has an ideaand who works in order to create a product or service that people will buy, by building anorganization to support those sales. Although the importance of entrepreneurship and interest init is continuously increasing and growing, High growth ventures provide us with significantamount of jobs and wealth creation in UK. One more important term in entrepreneurship is that“not all entrepreneurship is the same”. There are many types and kinds of entrepreneurialventures in the economy, some of them are as follows: Small BusinessEntrepreneurship: In this mainly two types of businesses exist; smallbusinesses and lifestyle business. Small business include grocery stores, hairdressers,consultants, travel agents, internet commerce store fronts, etc. An independently ownedbusiness which is not dominant in this field are termed as small businesses. Main goal of
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