Entrepreneurial Ventures and Small Business Management

This assignment provides an overview of various entrepreneurial ventures, including small business management, large company entrepreneurship, social entrepreneurship, survival firms, lifestyle firms, growth firms, managed growth firms, and aggressive growth firms. It also delves into the characteristics of a successful entrepreneur and the skills required for business success. The assignment aims to help students differentiate between micro, small, and medium enterprises and examine their impact on economic growth.

Table of Contents
Introduction .....................................................................................................................................1
TASK-1 ...........................................................................................................................................1
OVERVIEW....................................................................................................................................1
TYPES OF ENTREPRENEURS.....................................................................................................1
KINDS OF ENTREPRENEUR VENTURES.................................................................................2
TYPOLOGY OF ENTREPRENEURSHIP.....................................................................................2
TASK-2:PPT....................................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................11

Introduction
Large companies promotes its products and services in the new market. It offers new
products with varieties. It changes customer task and new competitors. Survival firm is based on
the impact of business activities on profits. In the world there are many kinds of business who
starts with different objectives. Small entrepreneurship are formed for doing small business
whether it is for a sort term or long term periods. It is different from other kind of ventures like
social entrepreneurship. Social and large entrepreneurship have sometimes same objectives.
Social companies focuses upon achieving goals by providing products and services which is
beneficial for public. The main purpose of that company is to achieve business goals with some
social responsibilities. Social entrepreneurship can be growth firm and managed firm whose
main purpose is social welfare. It also a part of public sector entrepreneurship. Hence, there are
some characteristics of a successful entrepreneur that differentiate it to others (Mariotti, 2014).
TASK-1
OVERVIEW
Large companies promotes its products and services in the new market. It offers new
products with varieties. It changes customer task and new competitors. Survival firm is based on
the impact of business activities on profits. In the world there are many kinds of business who
starts with different objectives. Small entrepreneurship are formed for doing small business
whether it is for a sort term or long term periods. It is different from other kind of ventures like
social entrepreneurship. Social and large entrepreneurship have sometimes same objectives.
Social companies focuses upon achieving goals by providing products and services which is
beneficial for public. The main purpose of that company is to achieve business goals with some
social responsibilities. Social entrepreneurship can be growth firm and managed firm whose
main purpose is social welfare. It also a part of public sector entrepreneurship. Hence, there are
some characteristics of a successful entrepreneur that differentiate it to others.
TYPES OF ENTREPRENEURS
Typical or Owner-Manager Entrepreneur- The entrepreneur who know that what is process to
make customers happy. They calculate overcoming situational and analyses the ideas after
starting a business.
1

Serial Entrepreneur- This are the entrepreneurs who opposite of typical entrepreneur and come
up with ideas then starts Company. They start the business with ideas. This type of entrepreneur
establishes rules and policies before the formation of businesses.
Entrepreneur- This is a type of entrepreneur who holds its business with inside activities. The
person who creates products and services with innovative ideas. They involve creative ideas and
risk factors.
Scalable start up entrepreneurship- This is a type of entrepreneur ventures whose vision and
mission is clear to the world and knowing from day one. Investors plays an important role for
this company.
KINDS OF ENTREPRENEUR VENTURES
Small businesses- There are many small businesses have start in united kingdom. In the US 5.7
million small businesses working and all are the non governmental organisation. It includes
hairdressers, travel agencies, grocery stores, consultancy services, carpenters, electrician and
plumbers etc.
Large Company Entrepreneurship- Large kind of entrepreneurship includes the innovation
process for its life cycles. Large companies uses new technologies and creates new legislation. It
builds disruptive products like ironically.
Social Entrepreneurship- Social entrepreneur focuses on the creativity. It involves innovation
process to invent new products and services. The products developed by social company satisfies
the needs of customers and services solves social problems.
TYPOLOGY OF ENTREPRENEURSHIP
Survival Firms- This are the small kind of business organisation who operates business of
survival. Small and medium size of business is a part of survival firm.
Lifestyle Firms- Lifestyle firm is a term of providing a reason of making goods and services for
lifetime to founder. It is a type of modern firm or businesses. Its annual growth rate usually
increases day by day(Burns, 2010).
Growth Firms- This is a type of firm who is growing rapidly. As compared by the competitors.
The company who is earning profits faster than economic rates.
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Managed Growth Firms- The company who needs to grow in the market and have to manage
the imbalance in the profitability.
Aggressive Growth Firms- It can be described by a mutual fund to achieve the highest capital
gains. It focuses on conviction approach.
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TASK-2:PPT
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CONCLUSION
From the above tasks the organisations can understand different types of entrepreneurial
ventures and their relationship with others. There are some differences and similarities between
entrepreneurial venture from which relationship between can be identified by it. In this readers
can differentiate micro, small and medium enterprise and examine the impact of all these
businesses on economic growth. At the end it can be determined that what are the skills that
required for the successful businesses. There are some features of entrepreneur that plays an
important role to become successful.
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REFERENCES
Books and Journals
Pretorius, M., 2009. Defining business decline, failure and turnaround: A content analysis.
The Southern African Journal of Entrepreneurship and Small Business Management. 2(1).
Wagener, S., Gorgievski, M. and Rijsdijk, S., 2010. Businessman or host? Individual
differences between entrepreneurs and small business owners in the hospitality industry. The
Service Industries Journal. 30(9), pp.1513-1527.
Ligthelm, A.A., 2010. Entrepreneurship and small business sustainability. Southern African
Business Review. 14(3).
Blackburn, R. and Kovalainen, A., 2009. Researching small firms and entrepreneurship: Past,
present and future. International Journal of Management Reviews. 11(2), pp.127-148.
Blackburn, R.A., Hart, M. and Wainwright, T., 2013. Small business performance: business,
strategy and owner-manager characteristics. Journal of small business and enterprise
development. 20(1), pp.8-27.
Preuss, L., 2011. On the contribution of public procurement to entrepreneurship and small
business policy. Entrepreneurship & Regional Development. 23(9-10), pp.787-814.
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