Entrepreneur and Small Business Management

Enterprise and Small
Business Management

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................3
Define what the concept of an entrepreneur is, and provide some examples of different
entrepreneurs in business.............................................................................................................3
Explore the type of entrepreneurial ventures and investigate the similarities and differences
between them...............................................................................................................................4
Determine the difference between an entrepreneur and a manager.............................................5
Determine the Big-5 Model and assess Deborah’s entrepreneurial personality..........................7
Determine Maslow’s Pyramid and determine if there is a correlation between entrepreneurial
characteristics and entrepreneurial success using Deborah’s actions..........................................8
Determine the influence that other factors have in fostering or hinder entrepreneurial success
Using Deborah’s story as an example.........................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship businesses are such start-up businesses that are initiative with
innovative ideas, higher risk and lack of sufficient funds. Entrepreneurs come up with such ideas
that starts small businesses in the marketplace where in such businesses needs to cope up with
the growing market demand and identify different resources in order to meet business
expectations. There are large number of small and medium organisation in UK, wherein the
government This report is divided into two parts the task one covers Concept of small and
medium enterprises, growth and financial contribution of such businesses to the UK economy,
the role of small and medium businesses and how It contributes to the economy of UK, the
second part of the report delivers concept of entrepreneurship, Differences and similarities
between entrepreneurial ventures, difference between entrepreneur and manager, big five model,
Maslow’s pyramid to determine the correlation between entrepreneur real characters and
entrepreneurial success, the influence of other factors fostering and hinder entrepreneurial
success (Littlewood and Khan, 2018).
MAIN BODY
TASK 1
Covered in PPT
TASK 2
SEC-1
Define what the concept of an entrepreneur is, and provide some examples of different
entrepreneurs in business
Entrepreneurship is a business process that includes planning and designing of new
business ideas and turning down it into business opportunities. These includes high level of risk
for starting the new business. One such example of entrepreneurial Business example is Dyson
founded by entrepreneur James Dyson which sells home utility appliances in order to improve
the living standards of people, James Dyson came up with new Business idea of vacuum cleaner

with cyclonic separation. Today it is a multinational company which is known for its
technological inventions in electrical products such as hand dryers bladeless fan.
Another example of entrepreneurial business is virgin group which was founded by Richard
Branson, Richard Branson came up with new business idea of launching virgin airways later the
business diversified its products and services including virgin trains, virgin media, Virgin fuel
and more (Meyer and Meyer, 2017).
Explore the type of entrepreneurial ventures and investigate the similarities and differences
between them.
Entrepreneurial ventures are defined by such businesses which operated with minimum
Resources and high-risk. Entrepreneurial ventures are different pertaining to the business ideas
and the products and services it delivers. The entrepreneurial ventures can be categorized as:
Entrepreneuri
al ventures
Small business
entrepreneurshi
p
Scalable start
up
entrepreneurshi
p
Large company
entrepreneurshi
p
Social
entrepreneurshi
p
Differences Small scale
businesses
include those of
grocery stores,
carpenters,
plumbers et
cetera. The
entrepreneur Of
such businesses
fines find from
friends and
family is with
the motive of
running the
business and
Scalable start-
ups includes
businesses by
innovative
business ideas
these
entrepreneurs
Attracts new
investors for
their business
operations (Park,
Lee and Kim,
2019).
These includes
the large
businesses
earning large
revenue with the
annual turnover
of £2 trillion and
at least 5000
employees.
These businesses
develop products
and services as
per the changing
customer
preferences in
these businesses
include offering
products and
services that best
acknowledges
social value.
These businesses
are operated with
the main purpose
of meeting the
social causes.