Entrepreneurship and Small Business Management

Entrepreneurship and
small business
management

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
LO1..................................................................................................................................................3
1 Discuss the various role of entrepreneurial venture............................................................3
2) Typology of Entrepreneurship...........................................................................................4
3) Discuss the similarity and difference between entrepreneurship venture..........................4
4. Define entrepreneurship in both public and corporate sector or industry..........................6
Lo 2..................................................................................................................................................6
1. Impact of both small and micro organisation that imposes on economy...........................6
2) Significance of small business organisation as well as start-ups in development of social
economy.................................................................................................................................8
3. Different small, large and medium enterprises make efforts to economy..........................9
4. Analyse small business organisation in influencing different level of economy...............9
Lo3.................................................................................................................................................10
1) Skills, characteristics as well as Traits of successful entrepreneurs................................10
2. Motivational person of successful entrepreneurs.............................................................10
Lo 4................................................................................................................................................12
1. Experience and culture of entrepreneurs which can create foster as well as hinder
entrepreneur..........................................................................................................................12
2) Link amongst characteristics or feature of entrepreneur..................................................13
CONCLUSION..............................................................................................................................13
REFERENCES................................................................................................................................1
Books and Journals.................................................................................................................1

INTRODUCTION
Entrepreneurship is defined as a procedure in which the business organisation emphasized
on launching, designing and running new business named as small organisation. It also clarifies
how to tackle the new business venture for gaining favourable outcomes. For this purpose there
is the integration of four kinds of resources such as capital, resources, land as well as labour that
boost productivity. This report provides discussion regarding the administration of small
organisation and also involved the type of entrepreneurship and different type of small
businesses. There are various kinds of similarities as well as differences between the investor
that is given in this assignment. And also the issues as well as problem that are occur for a small
organisation is also given in this report (Ratten, Dana and Ramadani, 2017).
LO1
1 Discuss the various role of entrepreneurial venture
Entrepreneurship: It is defined as a procedure in which the idea is transformed into reality
for favourable outcomes. Entrepreneurial activity is refers to dealing with human action in view
of firm of value, by expansion of economic activity, identifying & exploiting of new products.
Then Enterprise refers to new project which is being carried out for achieving of goals. It is the
responsibility of individual person to take risk and also emphasized on appropriate research at
market place and also defines the idea which is based on innovative business plan.
Different entrepreneurial ventures: Due to external environment there are different kinds
of Enterprises and they operate their organisation by single owner that is called entrepreneurial
venture. The main focus is to take higher risk for completion favourable outcomes. Therefore the
business venture is considered as a different from each other and also they take advantage of
favourable benefits. There are various types of business venture that is going to be mentioned
below:
Large entrepreneurship: In this type of entrepreneurship there are large amount of fund
and also have a large range of risk for fulfilling the requirement of customer it is important to
accomplish or gain larger share of market and also it is compulsory to implement latest
technology which is good for organisation at market place.
Social entrepreneurship: There are various types of business venture and they always
emphasize on boosting the quality of product and services. The primary motive of purpose of this

type of venture is to boost the margin and also they provide the society. The main purpose or
function is to increase the satisfaction level for achieving goal.
Scalable starts-ups entrepreneurship: There are various types of Enterprises to
emphasize on taking higher risk for achieving profit margin. They also require large amount of
funds for investing and also the focus is on expanding or boosting the business organisation.
Small-business entrepreneurship: This is a type of companies that emphasised on
functions as well as activity and net worth is around 6.5 billion. They need large fund as well as
taking less risk to operate their organisation like consultant, agent, and plumber as well so on.
Entrepreneurship in Public sector: The main focus of is to bring innovative ideas for
eliminating the uncertainty and also the focus is on conversion of ideas into reality by adopting
various resources that is implemented by government in improved manner (Kantur, 2016).
2) Typology of Entrepreneurship
Typologies of entrepreneurship: There are different kind of entrepreneurs and they
focuses on providing or offering different kind of services for overall improvement or
enhancement of society. The primary purpose is to fulfilling the need of customer and also they
focus is on making extra efforts for increasing standard of living of society. There are different
typologies that are discussed below:
Serial entrepreneur: The enterprise who emphasized on as well as focuses on various
ventures for becoming successful and boosts the margin of profit and sales. The main purpose or
objective of the organisation is to survive and maintained within Marketplace for performing
different functions in good way. It helped them in increasing profit margin of sales in future
period of time.
Lifestyle venture: It refers to that business organisation who emphasized on attracting the
large share of market and efficient use of available resources in improve manner. They focus on
changing lifestyle of an individual person and provide the goods and services as per need. It
helps in boosting profit margin in future period of time.
Female entrepreneur: This is the kind of Organisation in which all the activities of
organisation is handled or controlled by female staff only. It is the type of business organisation