Entrepreneurship and Small Business Management

unit 9 Entrepreneurship
and Small Business
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
1. Definitions of entrepreneurial activity and social economy...................................................1
2. The differences between the serial, intrapreneurs and owner manager..................................2
3. Impact of micro and small size organisations on UK economy ............................................3
4. Lifestyle and growth firms......................................................................................................5
5. Explain two significant contributions made by small organisation to the social economy....6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Entrepreneurship is considered as creating or extraction of the value. It is also considered
as the change that may consider other value than merely economic ones (Parker, 2018).
Entrepreneurship is develop or created by an entrepreneur who is an individual that create new
business unit by taking risk in order to enjoying success or rewards. The entrepreneur is
generally considered as innovator as well as source of new services, goods, ideas, thoughts and
process. The respective report is based on evaluation large and small entrepreneurial and it
impact on the economy of nation. Topics include in respective report are definition of
entrepreneurial activity as well as social economy and it also include difference between serial,
intrapreneurs and owner manager. Moreover it also include current statistics in order to
determine impact of micro and small size companies on United Kingdom economy as well as it
also include evaluation of different among lifestyle and growth firm on the basis of source of
funding and other aspects. This report also include example of small and local voluntary
organization as well as it also consider significant contribution of small organization to social
economy.
1. Definitions of entrepreneurial activity and social economy.
Entrepreneur activities can be describe as the practices that needs to be performed and
conducted by entrepreneur in order to successfully and effectively attain desired goals.
Entrepreneur refer as the person who creates a new business and carry out different task which
is significant providing better and accurate products and services to customers. Entrepreneur is
responsible conducting different practices and have to bear most of the risk while conducting
business practices (Venkataraman, 2019). This person have right to enjoy most of the rewards
and profits that is attain by successfully implementation of business activities. Entrepreneurial
activities consist of identifying customers needs, developing products or services, consideration
of innovation as well as performing different practices in order to provide its products and
services to customers. Entrepreneur is define as the individual who can organize, manage as
well as assume different risk factor that can have impact on business activities and
performance. Through this entrepreneur will be able to effectively and efficiently conduct
business activities as well as attain desired goals and objectives.
1