Entrepreneurship and Small Business Management

Entrepreneurship and
Small Business
Management

Contents
INTRODUCTION...........................................................................................................................3
PART 1............................................................................................................................................3
P1. Different types of entrepreneurial ventures and their relation to typology of
entrepreneurship..........................................................................................................................3
P2. Similarities and differences between entrepreneurial ventures.............................................5
P3. Relevant data and statistics to illustrate how micro and small businesses impact economy.5
P4. Importance of small businesses and business start-ups to the growth of social economy....6
PART 2............................................................................................................................................7
P5 Characteristic traits and skills of successful entrepreneurs....................................................7
P6 Entrepreneurial personality which reflects entrepreneurial motivation.................................8
P7 Background and experience hinder or foster entrepreneurship..............................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship is termed as the procedure of developing new creativeness by manner of
the risk with the perspective of making profit for maximising profitability in industry.
Businesspersons are the individuals who are effective in maintaining commercial and new
chances in marketplace that can be hold for role of helping consumers (Qing-Sheng, Hsiao-
Ming, and Shi-Huih, 2021). The report will involve various types of innovative sections and
portions to considering commercial procedure. Correspondences and modifications as in between
commercial projects that will be measured to it. Significant facts and figures to evaluate that how
micro and macro business will have an impact on the economy that will be construed and
evaluated in commercial process. Position of small businesses and business start-ups that will
contributing to development of social section that will be explained. As there are various
personalities and features of an effective businesspersons' diversity from other commercial
managers that will be described. Features of how business qualities that will reflect business
motivation and terms that will be observed. Significant examples will be phrased for how
contextual and involvement might hinder or foster entrepreneurship.
PART 1
P1. Different types of entrepreneurial ventures and their relation to typology of entrepreneurship
Entrepreneurship is the procedure in which the person who starts, present, plans strategies
and drive out the company by creating new thoughts and sense of knowledge. Businesspersons
will lead the commercial and motivates them towards advancement of company (Shahid, and
Ahsen, 2021). Entrepreneurship is an important section for development of fields, it create more
job roles and will offers unique course of ideas to consumers for increasing more productivity
and profitability. As some of the entrepreneurship that are as follows -
 Small Business Entrepreneurship – Small business is termed in the basic manner by
which an industrialist starts company on small scale. These type of entrepreneurship
businesses are run, managed and owned by sole proprietors. Most of small businesses are
profitable while other remain at same stage with no innovation and growth. Small
industry are essential as because they will offer various for the entrepreneurs or create
more meaningful satisfaction of job than job position with traditional and larger
organisations.

 Scalable Start-up Entrepreneurship – Entrepreneurs in this manner of the company
who possess greater abilities and understanding that are related to the start up commercial
that has been develop (Morselli, and Kakouris, A., 2021). Businesspersons in the start-up
business who are aware that their thoughts and skills of managing the business
orientation of the world for growth and development of the company.
 Large Company Entrepreneurship – Large Company Entrepreneurship ventures have
long sectional cycle that are managed by large corporate structures. Managers who offers
goods and facilities to their consumers as per their wants and requirements. It will easy
for them to survive for a long period in the market by their unique manner of the products
and services that are set as per to new trends in the market.
 Social Entrepreneurship – Social entrepreneurs are creative person who concentrates on
generating goods and facilities by maintaining social desires and issues of consumers.
Businesspersons in this business field of area have unique perspective of orientation that
lead to development in social structure. By building a global network or platform for
individuals who perform their roles in a group to fight with such issues.
As entrepreneurial courses relates to typologies of an industry in section term that are as follows
–
 Corporate entrepreneurship × Large Enterprise – Management become tough for
large companies that they might adapt corporate entrepreneurship that motivate
innovative commercial chances for present section of the business that helps in
development of an innovative products as effectively.
 Large Entrepreneurship × Small and Medium Enterprise — SME's face many
complications in economic problems that can be get improved by the progressive
technique that term to the value on the basis of invention (Schlattau, 2021). The large
entrepreneurship have their main sections in the business structure that will helps them in
generating goods and facilities as per to consumers.
 Social Entrepreneurship × Social Enterprise – Social Enterprise and social
entrepreneurship concentrates on mutual aim to get satisfied on social manner as about to
the actions and social demands from consumers as effectively. Both the management help
the social missions that are enclosed to make certain role of function of sections that are
to be phrased as more efficient.