Report on Entrepreneurship and Small Business Management, LO1

This report provides a detailed overview of entrepreneurship and small business management. It begins by defining entrepreneurship and explores various types of entrepreneurs, including serial, intrapreneur, and social entrepreneurs. The report then delves into different types of entrepreneurial ventures, such as small business ventures and corporate ventures, highlighting their characteristics, similarities, and dissimilarities. It also covers the typology of entrepreneurship, including salary and lifestyle entrepreneurship. Furthermore, the report examines the differences between various types of entrepreneurship, such as public and corporate entrepreneurship, and discusses the scope of new entrepreneurial ventures in delivering successful product innovation to the market. Finally, it critically examines factual data for the development and growth of entrepreneurial ventures, concluding with the impact of entrepreneurs on the economy and resource utilization.

Entrepreneurship and Small
Business Management
LO1

 Introduction
 Entrepreneurship and type of entrepreneur
 Types of venture and Typology
 Difference between entrepreneurship
 Scope of new entrepreneurial venture
 Critical examination of factual data for development and growth
 Conclusion
 References
Table of content:

This presentation on entrepreneurship and small business management will
provide a detail overview of the entrepreneurial activities. The report starts
with explaining different types of entrepreneurial ventures along with their
similarities and dissimilarities. This presentation also covers different types of
typology which is used in entrepreneurship.
Introduction

Rather than working under other’s business organisation starting own business
which will support to livelihood of a particular person can be categorised as
entrepreneurship. A person who innovates ideas and thoughts for the purpose of
running a new business is known as entrepreneur.
Entrepreneurship

Types of Entrepreneur
Serial entrepreneur
An entrepreneur can be defined as serial entrepreneur when he will come
continuously with a number of different new ideas and make implementation
of these ideas.
Intrapreneur
An intrapreneur works for other within an organisation and he is responsible
to develop new ideas and products which will support to the growth and
development of the organisation in which he works.

Continue...
Social entrepreneurs: People who works for society and poor people in order
to provide them best services for their welfare is called social entrepreneur.
Such type of entrepreneurs understand the social problems and provide them
benefits.

A wide range of entrepreneurial ventures are observed in the real business world
two of them are explained below with examples-
Small business venture
The business organisation which is started by one or more entrepreneur in
order to manage the livelihood can be defined as small business venture.
Corporate venture
A venture can be defined as corporate venture when this venture has the
capacity to grow at a higher rate. A corporate venture might experience more
than 200% to 500% growth with the five years of starting its operation.
Corporate venture has high capability to develop and implement new
business ideas due to high capital base and high profitability.

Typology of Entrepreneurship
Salary entrepreneurship:
This entrepreneurship is considered as the basic category of the entrepreneurial
venture. Such type of entrepreneurship provides less expansion opportunity
as the entrepreneur starts it in order to manage its livelihood properly
collected by the entrepreneur from his savings.

Lifestyle entrepreneurship
In case of lifestyle entrepreneurship the entrepreneur searches for earning his
livelihood from the pattern in which he lead his personal and social life. Such
type of entrepreneurship is considered as the unique form of entrepreneurship as
the lifestyle of the owner is reflected in the business operation.

Cont..
All the entrepreneurial ventures have unique nature which support to
differentiate one venture from another. Although all entrepreneurial ventures
are different from one another in term of feature and operation, a number of
similarities are also observed among them.

Similarities between small business venture and
corporate venture
 Both ventures are started with the objectives to make money or earn profit
 Both ventures create employment opportunity that means contribute to
solve the unemployment problem.
 Business entrepreneurs bear financial risks at the time of introducing
business and running this.

Dissimilarities between small business venture and
corporate venture
Growth rate
Growth rate of small business venture is very low as this venture has a shortage of
capital and manpower. On the other hand, corporate venture enjoys more than
20% growth in an annual basis due to high capital and manpower.
Financing
In case of small business venture the capital is formed from the savings of the
entrepreneur. On the other hand, angel investors, capital market and venture
capitalist are the found providers of corporate venture.