Unit 9 - Entrepreneurship & Small Business Management

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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:
Umer Sohail
Assessor name:
Salman Rabbani
Issue date:
16thAPR 2021
Submission date:
7thJUN 2021
Submitted on:
7thJUN 2021
Programme:
PEARSONBTEC HIGHERNATIONALDIPLOMAINBUSINESS(RQF)
Unit: 09. ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT (LEVEL 4)
Assignment number and title:THE FIRST OF ITS KIND ENTREPRENEURIAL VENTURE
Internal Verifier : Muhammad Ali Iqbal Raja
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:
TASK 01
PART 01
Entrepreneurship:
Entrepreneurship refers to the process of establishing and operating a new business for the purpose of
profit by investing the necessary time and energy and assuming all risks, difficulties and financial issues
to create products that are valuable to people. Furthermore, entrepreneurship is actually controlled by
entrepreneur who organize a business venture and assumes the risks for it.
Types of Entrepreneurship
1.Large Business Entrepreneurship:
As the name showing large business entrepreneurship stands for large scale firms and
organizations that have been started with massive investment. In case of large business they
have big market shares, they change to new trends, create new products, build new teams, they
have finite life cycles and make disruptive innovations.
2.Small Business Entrepreneurship:
A small business entrepreneurship means the type of business that starts up with small amount
of investment. These are the some features of small business entrepreneurship such as it is a
small scale firm, they have small market shares, they are anyone who runs his/her own business
and their aim is only to succeed as much to feed family and earn profit.
3.Social Entrepreneurship:
Social entrepreneurship means the approach any single person or a group of person to ignite or
start up an organization or entrepreneurs who grew up with them and applied solutions to solve
social, cultural and environmental problems. This type of concept can be applied to
organizations of all sizes, goals, community values, and beliefs.
4.Imitator Entrepreneurship:
The imitator entrepreneurship is the one in which the entrepreneur copies the ideas the other
and wants to prove himself because he/she aims to make certain type of products and services
which could be much better and profitable.
5.Scalable startup Entrepreneurship:
Scalable startup entrepreneurship means the type of entrepreneurship in which the
entrepreneurs establish their businesses with the belief that their vision has the potential to
change the world. They attract investment from equally insane financial investors known as
venture capitalists.
.HERE WE HAVE A SINERIO OF TWO COMPANIES AND WE HAVE TO EXPLAIN THE
SIMILARITIES AND DIFFERENCES AMONG THEM BY RELATING THEM TO ENTREPRENEURSHIP.
COMPANY A:McDonald’s
Located in the heart of McDonald’s, McDonald’s is an American fast food chain and one of the
largest fast food chains in the world, famous for its hamburgers. In fact, it is a limited liability
company. Its headquarters are located in Oak Brook, Illinois. The first McDonald’s restaurant
was founded in 1948 in San Bernardino, California by brothers Morris and Richard McDonald.
McDonald’s initially focused on its hamburgers, fries and cocktails, and sold them at half price
from competing restaurants. From the world famous fast food restaurant. In 1937, the
McDonald's brothers opened their hot dog kiosk for the first time and entered the restaurant
industry as a team. In 1940, they opened a barbecue restaurant in San Bernardino, the first
McDonald's in the world.(www.wikipedia.com)
After that, they began to sell barbecue accessories, and eventually the McDonald brothers
transformed their restaurant into a hamburger and smoothie restaurant in 1948, hailed as the
inventor of the modern fast food model. They continued the selling of their hamburgers by
changing the selling services into modernizes and becomes famous all over the world. Now they
have massive market shares and large amount of shares in worldwide stock exchange the stack
holders buy their shares and get profits and losses by decreasing and increasing in the points of
stock exchange shares.(www.wikipedia.com)
We can relate the McDonald’s withInnovative Entrepreneurshipbecause of their starting up
from a small business and with the passage of time becoming a large business of within the
globe. The most important thing on the behave of becoming the world famous fast-food
restaurant is thinking of an entrepreneur because they have started the business with the
unique idea in a small place but with an aim of becoming a large one and successful they did it.
Now the McDonald’s have worldwide branches and when the people desired to eat fast-food
the first name comes is McDonald’s.(www.wikipedia.com)
COMPANY B:Subway
Subway is an American fast food restaurant. It’s a private limited company. It’s also known as
Doctor’s Associate Inc. It was founded by the 17-year-oldFred DeLucaand financed byPeter
Buckin 1965 as “Pete’s Super Submarines’’ in Bridgeport, Connecticut. The restaurant renamed
to Subway two years later, and a franchise operation began in 1974 with a second restaurant in
Wallingford, Connecticut.(www.wikipedia.com)
Moreover, it is one of the fastest growing franchise in the world and the reason behind its fame
is slogan they used “Eat Fresh”, and focused on how its sandwiches were made from the freshly
baked bread and fresh ingredients, in front of customers to their exact specifications, by
employees which subway called “Subway Sandwich Artists’’. Furthermore, subway servers an
array of topping choices, allowing the customers to choose which toppings they want on their
sandwich. These are some reasons behind their success.(www.wikipedia.com)
We can relate the Subway with theInnovative Entrepreneurshipbecause the founder started
the business in small area to serve the people with fresh submarine sandwiches but soon people
started liking it too much and the SUBWAY becomes a brand a famous one in the globe.
DISSIMILARITIES
Following are some dissimilarities among both companies:

.McDonald’s is public limited while Subway is private limited company.
.McDonald’s is Innovative Entrepreneurship while Small Scale Entrepreneurship.
.McDonald’s is known for his hamburgers while Subway is known for its sandwiches.
.McDonald’s have public shares in stock exchange while Subway have private shares.
SIMILARITIES
These are some similarities between both companies:

.Both companies didn’t compromise on quality.
.Both are fast food product making companies.
.Both of companies are innovative.
.Both companies are founded by founders.
.Both of the companies are started from a small area.
PART 02:
.Scope and Growth
In Pakistan there is not any support of new generation to startup new business that’s why
the scope is not too much as compared to other countries. As all we know to initiate any
entrepreneurship a support is needed both financially and morally but there is lack of both
of these things. No doubt some of people start their new business with new ideas but they
can’t lead to success because of many problems and hurdles like tough government
policies, no back support, no motivation and at last they failed and never came back to
start the new business. All these points shows that there no scope and growth of startup
business. Nowadays, in Pakistan entrepreneurship is increasing at a great rate, if we discuss
about the statics of startup then since 2015 there is about 720 entrepreneur arises in which
the 62% are still active. The successfully working businesses rate is 20% and remaining are
still in struggling phase but if after sometime they remain determined the rate of success
will be 50% to 70%.
However, there is world of internet and the countries are very advance in this field so by
Keeping in view we should develop different programs like free lancing, web designing etc.
through which we can earn enough money and we should support our family financially. So
the Pakistani government should focus on the scope and growth of startup new business
for this they give less trust loans and make favorable economic policies.

.Statistical Data on the behave of Startup Business
Pakistan’s economy has been on ventilator. But the new developing economic program are
effecting very fastly due to which many new peoples have started the new businesses but
the amount of venture capital invested in the startup ecosystem appears to be small.
Given this, I decided to look at some of the most well-funded startups in Pakistan, and they
have all succeeded in raising massive sums of money. Some of these are the successful
startup entrepreneurship which had contributed to much in the Pakistani economy:
1.Zameen.com ($29 million)
Zameen.com, founded in 2006, is Pakistan's most well-funded startup. It was co-founded by
two brothers, Zeeshan Ali Khan and Imran Ali Khan, and allows you to invest, buy, sell, or
rent properties in all of Pakistan's major cities.(www.startup.pk)[CITATION ent \l 1033 ]
2.Airlift ($24.2 million)
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