Entrepreneurship and Small Business Management

9 – Entrepreneurship and Small
Business Management

Contents
INTRODUCTION...........................................................................................................................3
LO1 AND LO2................................................................................................................................4
Brochure......................................................................................................................................4
LO3 and LO4...................................................................................................................................5
PowerPoint Presentation..............................................................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The business person or an entrepreneur is an individual who operate financial and managerial functions and operation or
manage the issue or risk in business. Entrepreneur is termed as the foundation of modernization, advance thought of perspective,
creator of several products and facilities for their consumers as effectively. Entrepreneur have their own workforce who operate
function under them and entrepreneur will evaluate and analyse their terms of dealings with their staff faculty. Entrepreneurship is the
procedure of planning, generating and initiating new managerial thought in business (Asfiah, Ambarwati, and Arifiani, 2021).
Entrepreneur will help and supports the management in considering the needs of the consumers by which the company create those
facilities and will offer to their consumers. On the other side innovation is the key process in the management and it is essential by
which high number of consumer might get influenced as per to the management. In the following report involves several sections and
modification in between the entrepreneurial venture and entrepreneurship. Several impact of small management on the development of
the economy and at last it will also be considered that how the entrepreneur are diverse from their manager or administrators.

LO1 AND LO2
Brochure
P1: Types of entrepreneurial ventures
Entrepreneur is an individual who have fundamental abilities and sense of
knowledge to lead thought of perspective for further requirements.
Management of business figure out the manner for taking challenges to
create profit. Entrepreneurial speculation developed by beginning with
reducing of thought, beginning of management and shifting to trade and
promotional plan of actions (Frisch Aviram, Beeri, and Cohen, 2021). After
dealing with several challenges entrepreneur will get higher opportunities
in their business. They develop their management with small amount and
with fixed resources to satisfy their managerial requirements.
Small Business Ventures- These managements are developed in low set of
amount by presence of fixed resources in business. Resources that are
gathered by taking financial cost from relatives or from bank to satisfy their
requirements. For example, local stores that are generally have very low
sections of structure (Gibb, 2021). As concentrating on creating higher
amount of productivity and profitability they initiate management to sustain
and satisfy the requirements of consumers. The fund that they are financed
in their management is not fire so they required to have a suitable plan that
will bring higher term of profit. For example, Organisations like Mule soft
consider in small business venture who have various sections of consumer
who have benefits of who are capable to utilise several sort of goods in the
broader tongue and maximizing their buying sections.
Social Ventures- Social venture are the type of venture who conduct operation
and function for social benefits. The basic role of such organisation is to satisfy
social duty not only profit. They also provide low price of products to
consumers. For example, Organisations like Impact Hub are created to offer
individual well quality of life and good customary section of living.
Typology of Entrepreneurship Related to Start-up Ventures
Imitator Entrepreneurship- It is a type of management that only copy the
approaches and plan of action of other effective entrepreneur (Keczer, 2021).
They also copied their webpages and managerial authentications to looks like
them. For example, Organisation like Instagram and Snapchat that copies their
trend of copying stories ideas. Candidates required to follow the manner from
imitating to following their strategies.
Research Entrepreneurship- They offers a higher manner of investigation on
each and every condition before creating approaches and plan of action in
management. For example, well-known entrepreneurs include Bill Gates,
Pierre Omidyar, Arianna Huffington and Caterina Fake. Important
characteristics of successful entrepreneurs include risk taking, creativity,
initiative, problem solving, organizational skills, communication and
independence (Bian, and et.al., 2021). They also take part in investigation
because they get knowledge from it and inspiration to do something better
from them. Entrepreneur required tom learn effective and efficient terms and
applied in business in an adequate manner.

Successful Entrepreneurship- They are those who faced every issue and
situation in the business but still they are standing straight to deal with
other issues by applying their suitable plan of action and approaches
(Bhatia, and Batra, 2020). They resolve all the conflicts and disputes in
business and will adapt new orientated perspective of management that will
based on the requirements of the consumer. For example, Walt Disney was
wildly successful with his animation company, but he wasn't satisfied. He
utilises their time in discussion with other staff faculty for the growth of
their management.
Determined Entrepreneurship – In this, entrepreneurs will adapt their own
approaches and create their own business strategies that will not related
with any other management. For example, entrepreneurial like Steve Jobs,
Mark Zuckerberg they are the one who perform their role to create the
business effectively. Some time they required to copy other by considering
their knowledge and skill and their course of success at the marketplace
P2: Similarities and differences between entrepreneurial ventures
Each and every management of business has their own necessity and desire
by which they encourage their staff faculty to perform manager operation
and business to accomplish their orientated targets as effectively (Méndez-
Picazo, Galindo-Martín and Castaño-Martínez2021). Management it is
having similar section as per to various manner of performance in
management to obtain several plan of action by satisfying the consumer
needs. Each management want higher term of profit but it is only social
venture who founded to offer inexpensive goods to consumer to meet
consumer desires and requirement. As they all have various styles to attain
their orientated targets in business. As there are several similarities and
differences among entrepreneurial ventures that are as follows-
Differences Small Business Ventures Social Ventures
Objective Small management will
make integrated section to
produce revenue by which
day a good complex
success and the business of
management. As they are
utilising individual assets
to create basic sections.
Incorporate social management
for individual benefits by
providing inexpensive and
higher balanced goods. They
will also capitalise social funds
to offer creative goods.
Value Small scale of
management required to
resolve managerial issues
by providing qualitative
goods at less cost and at
rational amount
(Khusnidinovna, 2021.
They apply each and every
manner by which they can
create higher amount of
managerial profit
effectively. For example,
Organisations like Sega
consider in small business
venture who have various
sections of consumer who
have benefits of who are
capable to utilise several
sort of goods.
Social ventures are performing
each and every factions by
which day a required to make
the suitable amount of stability
among the various social
sectors of economic (Xie,
Wang. and Lee, 2021). That
can only satisfy requirements
by offering deficiency or
similar section to consumers in
the business of management.
For example, Madlug C.I.C
will finance their social manner
of the funds to provide high
term of products as effectively
and efficiently.

Hence, both management create their own approaches, arrangements and
schemes in the course of manner by which they can help to accomplish
their oriented targets.
M1 Range of entrepreneurial ventures to demonstrate an understanding of
entrepreneurship in both public and cooperate sector?
In context to the isolated division, the manner of the entrepreneurship is
requiring to utilise and explain the public and supportive segments (Li, and
Johansen, 2021). Such businesses will support in the knowing of
entrepreneurship that are important for the country’s growth and affluence.
P3 Impact of Micro & Small Businesses on Economy?
It involves the term that the amount of small management in United
Kingdom is maximizing. The authority of power body also helping the
advancement and betterment of such management and will offers works for
unemployed individual who to sustain in the nation. On the other side,
various female entrepreneur will also be getting support from
administrative authority who are financing their funds in creating new
management. Women entrepreneurs are performing their managerial
operations and function for maximizing productivity and profitability in
the business. In context to this, job opportunity is developed by them
particularly for various other women also (Tekin, Ramadani and Dana,
2021). It creates them informing supreme personality and they are also
encouraging other young individual to involve with them by which de
business globally and enlarged their management as across to the world.
The actions that are contributing to the financial growth of the nation
through them. As in relation to this, creative quotes and facilities are being
produced by them and enhancing the sustainable standard for those who
are existing in society.
Various business of management have creative thought of perspective in
conducting business at the marketplace, so they plan various approaches and
policies to steal the attention of various finances and stockholders (Linton, and
Solomon, 2017). As on the other side the total section of UK foreign direct
investment might also be considerably enhanced. The impact of SMEs on the
Nation’s financial condition might be known by the following points that are
discussed below-
Regional Impact– If an entrepreneur is performing their function in
management at various section of the nation. Hence, they will offer local
individual with qualitative goods and facilities at rational rates. The
entrepreneurs are performing manner of functions at regional level by which
they can increase the role of economy. For example, it might be prominent that
this business will be harmful impacted by variation of issues that involves
supremacy and external issues.