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Types of entrepreneurial ventures and small business management

   

Added on  2020-06-06

15 Pages4697 Words142 Views
ENTREPRENEURSHIPAND SMALL BUSINESS MANAGEMENT

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1LO 1.................................................................................................................................................1P1 Different types of entrepreneurial ventures and they related to the typology ofentrepreneurship:....................................................................................................................1P2 Similarities and differences between entrepreneurial venture:.........................................2M1 Entrepreneurship in both public and private: ..................................................................3D1 The scope development and growth of entrepreneurial ventures:....................................3LO 2.................................................................................................................................................4P3 Asses relevant data and statistics, micro and small business impact on the economy:.....4P4 Importance of small business and start-ups to the growth of the social economy oreconomy of the UK and importance of society:.....................................................................4M2 Small, medium and large business making economy: ....................................................5D2 Small business impact on different levels on economy:...................................................5TASK 2............................................................................................................................................6LO 3.................................................................................................................................................6P5 Characteristic traits and skills of Thomas Edison and different from business manager:6P6 Entrepreneurial personality of Edison reflect his entrepreneurial motivation and Mindset:.8M3 Entrepreneurial characteristics:........................................................................................8D3 Characteristic traits, skills and motivational drivers of successful entrepreneurs:...........9LO 4.................................................................................................................................................9P7 Background and experience can hinder or foster entrepreneurship:.................................9M4 Link between entrepreneurial characteristics and personal background and experience to ..............................................................................................................................................10specific successful entrepreneurs:........................................................................................10D4 Background and experience influences entrepreneurs in both positively and negatively:10CONCLUSION..............................................................................................................................11REFERENCES .............................................................................................................................12

INTRODUCTIONAnEntrepreneurship is the heart of every business. Every large company have stared outsmall business, led by an entrepreneur. Entrepreneurship are also demand to established thecompanies. The Entrepreneurship and the small business management sequence offers uniquelearning to the student who are aspired to start business, the program help the student to identifycareer options in small business, expand their knowledge of entrepreneurship and developventure management and skills (Parker, 2018). Every person started their business in small area,small place, small resources or according to time they increase there business. Is the smallbusiness development and study for student studying and who are interested to start theirbusiness.TASK 1LO 1P1 Different types of entrepreneurial ventures and they related to the typology ofentrepreneurship:Different types of entrepreneurial: The entrepreneur is one who organize, manage assumes riskof a business or entrepreneur. There is four types of entrepreneurial venture:1.Small business entrepreneurship- The small business are stores, consultants, travels,beauty stores, carpenters, plumbers, electricians, they are anyone who runs own business.They hire employees or family, and their aim is to gain profit. The Thomas Alva Edisonstarted there business at small stage. He developed most of the devices form smallplatform and they increase there business strongly. (Burns, 2016).2.Scalable start-up entrepreneurship- The scalable start-up of business to attract investor toinvest in their business to start small business. And the aim is to increase business in thelargest platform. The Thomas also increase there business in large platform, the Thomasinsist to investor to invest money in their business for growing the huge business.3.Large company entrepreneurship- The sir Edison organization having finite life cycle,they include innovation, offering new products. Changes customers test, include newtechnology and faced new competitor in the business. (Bhachu, 2017).

4.Social entrepreneurship- The social entrepreneur are who create products for social needsand solve social problems, in our world there is many social problems they includebusiness as well. The social needs full fill by social entrepreneur. The Thomas Edisonalso invent those products who helps for social needs and fulfil customer's social needs.The entrepreneurial venture related to the typology of entrepreneurship:The entrepreneur venture are related to the entrepreneurship they venture are decide tostart small business and entrepreneurship are strategy how to start small business to largerbusiness. The entrepreneurship are build the business in many platforms, small business, largerbusiness, social business and the venture are planing business (Fayolle, and Gailly, 2015).The Edison group adopts the entrepreneurial venture. The Thomas Alva Edison was anAmerica inventor and businessman. The Thomas started their business in small stage they adoptthe entrepreneur in his life, they adopt innovation concept the Edison repair telegraph devices,the Thomas Edison are become “the wizard of Menlo park” they having experience of newthings and they applied in their life. The sir Thomas is business inventors of that time, theThomas Edison started their business smaller to the largest company. The Thomas career startwith the very small manner they handled small things very preciously. Thomas small businessbecome Americas the largest business because they adopt entrepreneur venture in their business,they organize their business in small platform after that they manage their business verypreciously (Morris., 2015). P2 Similarities and differences between entrepreneurial venture:The similarities are those entrepreneurs venture are started there business into the smallplatform. The similarities between small business entrepreneurship and large businessentrepreneurship is in both are started there business small platforms like stores, travelscompany, electricians. For example store become the largest show room and the travels companybecome most popular international company. The business become smallest to the largestplatform. And the difference between small entrepreneurship and large entrepreneurship is thesmall business takes lots times to become lager business but the largest business larger in ghastlybecause largest entrepreneurship takes risk to start their business and their aim is to becomebusiness very larger and top most.

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