Entrepreneurship and Small Business Management

UNIT 9- ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Table of Contents
INTRODUCTION.....................................................................................................................................3
PART 1.......................................................................................................................................................3
Examining different forms of entrepreneurial ventures and their relation to typology of
entrepreneurship......................................................................................................................................3
Exploring similarities and differences between entrepreneurial ventures................................................5
Interpret relevant data & statistics to explain how small and micro ventures impact on economy..........8
Explaining significance of small ventures and business start-ups to growth of social economy..............9
Examining how small businesses have an impact on varied extent of economy and in a global context
...............................................................................................................................................................10
PART 2.....................................................................................................................................................11
Covered in PPT.....................................................................................................................................11
CONCLUSION........................................................................................................................................11
REFERENCES........................................................................................................................................12

INTRODUCTION
Entrepreneurship is defined as effective process that help an entrepreneur to handle and
manage varied business practices in systematic manner. It considered as those activities that help
to develop, manage and run a venture enterprise, along with some uncertainties just to make
money and obtain more benefits than other existing brands or companies that has operated in
same sector and market. The current assignment will be based on entrepreneurial ventures,
typology and small businesses that impact on economy development. The study will explain
interrelation between each entrepreneur business and typology. It will define similarities and
differences between businesses and justify importance of small enterprise as well as business
startup in the context of social economy progress.
PART 1
Examining different forms of entrepreneurial ventures and their relation to typology of
entrepreneurship
Entrepreneur-
In term of successfully businessman, an entrepreneur is one of those individuals who
attempts to sets up their own business by taking varied risk and dealing with them in effective
manner.
Entrepreneurship-
It defined as capability of business person, which drive their attention towards developing
and using effective approaches and techniques that help to achieve set goals and obtain desire
outcomes.
Entrepreneurial venture-
An entrepreneurial business is a concept of starting a startup or small venture through
which an entrepreneur with their ability conduct efforts to offer quality products and services to
local people or target customers.
Enterprise-
This term is defined in varied ways or words within the world of business and considered
as one of those companies that has been operated by a successful entrepreneur.

Types of entrepreneurial ventures-
Any established company-
Tesco is an established organization because it has built its strong and unbeatable brand
image in market where many brands has operated from longer time. It has wide customer base
and good financial performance. These are the main features of well-established organizations
that had capabilities to generate unexpected revenue and increase unpredicted profitability.
Small size social venture-
Funeral care is one of those small social companies that has operated venture at small
level within United Kingdom more than 1,0000 funeral homes. Company provides its services to
local people who are unable to make preparation for memorials as they had no relatives. Small
size social organizations are considered as those ventures that trade for social purpose and aimed
to reach environmental or community aims, which enable them to generate at least half part of
their investment.
Large size social venture-
In this category of entrepreneurial venture, those companies are included that has
established their businesses at large level and perform in regards to social well-being. For
example, NHS is well known large size social company that had made varied contribution to
improve the living standard of local people, by providing quality service to local people in term
of health care. National health service is able to provide medical and health care services.
High growth companies-
Facebook is the best examples of high progress organization, which conduct a lot of
efforts and initiatives to grow as private company more than other well-reputed brands. Its
mission is to offer satisfactory services to individual person and give them power to build strong
community. High growth companies are well-known to perform better and more than
expectations of each stakeholder.
Typology of entrepreneurship-
Survival companies-