ENT201: Report on Entrepreneurship and Small Business Management

This report delves into the realm of entrepreneurship and small business management, examining key concepts and real-world examples. It begins with an introduction to entrepreneurship, defining it as the process of starting new, often small-scale businesses with the aim of generating profit while bearing risks. The report then explores how individuals' backgrounds and experiences can influence their entrepreneurial journeys, using Wang Jianlin and Nandan Nilekani as case studies. It highlights the importance of past experiences, family support, and specialized skills in establishing successful businesses. The report further examines the entrepreneurial ecosystem, outlining critical support systems such as financial, technological, market, social, and environmental support. It underscores the significance of these factors in fostering growth and enabling small businesses to achieve competitive advantages. The report concludes by emphasizing the crucial role of small businesses in economic growth and advocating for the promotion of entrepreneurial ventures.

Entrepreneurship and
Small Business
Management
TASK 4

Table of Content
 Introduction
 Backgrounds and experiences hinders entrepreneurship
 References

Introduction
Entrepreneurship refers to an activity of starting new business
which are generally small in size with a motive of earning
huge profits and bear all risks and rewards. An individual
who are willing to take risk and rewards is called as
entrepreneur.

Backgrounds and experiences hinders
entrepreneurship
Wang Jianlin and Nandan Nilekani are the two most popular
small-business entrepreneurs who are achieve their strong
identity in different fields. They establish their owe
business through using their specialised skills and
knowledge.

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They utilise their past experiences to develop company in
market and their family and relative gives abundant
support to them so as to achieve their desired goals and
dreams of their life.

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Wang Jianlin comes from middle class family. He started
working at the age of 17 in People's Liberation Army For
18 years. After completing its 18 years, he started
working as the office administrator for the Xigang
Distrcit in the city of Dalian.

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In the year 1989, he became the general manager of Xigang
Residential Development after that he worked as the
chairman of the Dalian Wanda Group in 1992 which
becomes the changing moment of his life.

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His company earned more than 21.57 million square metres
of investment property, 168 Wanda Shopping Plazas and
many more. He got main success in 2012 when he
acquired world's largest theatre owner named as “AMC
Theatres”.

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Nandan Nilekani is an Indian entrepreneur, bureaucrat and
politician. He is the co-founder of Infosys. In 2017, he is
appointed as non-executive chairman of the Board. He
started his business with the help of family support.

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He has completed its education in Indian Institute of
Technology Bombay, Mumbai. He served as its CEO
from march 2002 to April 2007. During his tenure of five
years as CEO, Infosys has recorded approx 3 billion
which becomes highest revenue of any organisation ever.

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Entrepreneurial ecosystem:
It is essential need for a model of entrepreneurship that
helps in capturing all aspects which contributes maximum
in achieving growth and success.

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The eco- system has been developed from a framework of
eight systems of support and several aspects contributing
to the structure of a single support system:

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Financial support: Getting support from the family and
relatives, banks, ventures capitalist, angel investors etc.
which help small businesses to adopt an effective
techniques and tools.

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Technology support: It refers to getting support from
government regarding funding, adoption of new
technology, support from suppliers, imported technology
know-hoe etc. which drives small business to sustain
market and achieve competitive advantage.

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Market support: It refers to getting support and
opportunities in their market from suppliers, loyal
customers etc.

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Social support: Getting adequate support in form of getting
awards from trade association, acceptance of venture
failures etc. Such social respect bestowed on the
entrepreneur also counts as social support.

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Environmental support: It includes the availability of
natural resources and climatic conditions which affects
the business operations of small companies through
which it becomes difficult for them to survive in market.

Conclusion
It has been concluded from the above presentation that
Small business contributes maximum in achieving growth
in economy of country thus need to be promote individual
to start new venture with their own ideas and concepts.

References
Sampaio, A. R., Thomas, R. and Font, X., 2012. Small
business management and environmental engagement.
Journal of Sustainable Tourism. 20(2). pp.179-193.
Schaper, M.T. and et. al., 2014. Entrepreneurship and small
business.
Stokes, D., Wilson, N. and Wilson, N., 2010. Small business
management and entrepreneurship. Cengage Learning
EMEA.
Storey, D.J. and Greene, F.J., 2010. Small business and
entrepreneurship. Financial Times/Prentice Hall.

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