Entrepreneurship and Small Business Management Report - Unit 9, HND

This report, prepared for a BTEC HND in Business unit on Entrepreneurship and Small Business Management, analyzes various entrepreneurial ventures, including small businesses, scalable start-ups, high-growth firms, and social enterprises. It defines each type, providing real-world examples like Hai Anh Coffee, Coc Coc, An Tien Industry, and the Vietnam Red Cross to illustrate their characteristics and operations. The report further examines the similarities and differences between these ventures, exploring entrepreneurship in public and corporate sectors. It evaluates the impact and importance of small businesses on the Vietnamese economy, considering their role in social development and economic growth at local, regional, and national levels. The analysis includes recommendations for the chosen small businesses to expand their impact and concludes with a discussion of the key factors influencing the growth and development of entrepreneurial ventures.

ASSIGNMENT 1 FRONT SHEET
Qualification BTEC Level 4 HND Diploma in Business
Unit number and title Unit 9: Entrepreneurship and Small Business Management
Submission date 02/04/2021 Date received (1 st submission) 01/04/2021
Re-submission date 06/04/2021 Date received (2 nd submission)
Student name Trần Lê Đức Quang Student ID GDB19108
Class GBD0803 Assessor name Badr Badra
Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plag
making a false declaration is a form of malpractice.
Student’s signature:
Trần Lê Đức Quang
Grading grid
P1 P2 P3 P4 M1 M2 D1

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 Summative Feedbacks:  Resubmission Feedbacks:
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Contents
INTRODUCTION ...................................................................................................................................................... 4
ANALYSIS ................................................................................................................................................................ 5
I. Explore and illustrate the range of different entrepreneurship ventures ............................................................ 5
1.1 Types of entrepreneurial ventures and their relation to the typology of entrepreneurship with the chosen
firms ................................................................................................................................................................... 5
1.1.1 Definition of each type of entrepreneurial............................................................................................. 5
1.1.2 Link with each chosen company/firm/business and aspects of Lifestyle and growth firms ................... 6
1.2 The similarities and differences between entrepreneurial ventures............................................................. 8
a. Definition .................................................................................................................................................... 8
b. The key actors in biz environment create the Similarities and differences ................................................. 8
1.3 Entrepreneurship in the public and corporate sector ................................................................................... 9
a. Definition of entrepreneurship in the public and in the corporate sector ................................................... 9
b. Roles and responsibilities of each type ..................................................................................................... 10
c. Critical points comparing........................................................................................................................... 11
1.4 The scope, development and growth of entrepreneurial ventures ............................................................. 13
a. Key factors for growth and development of entrepreneurial ventures ..................................................... 13
b. Recommendations for those entrepreneurial ventures to further develop in their biz environment ....... 14
II. EVALUATE THE IMPACT AND IMPORTANCE OF SMALL BUSINESSES ON THE ECONOMY .................................. 14
2.1 The impact of the chosen small businesses................................................................................................. 14
a. The impact of small business in Vietnam .................................................................................................. 14
b. The impact of the chosen small business .................................................................................................. 15
2.2 The importance of small businesses and business start-ups to the growth of the social economy ............. 15
a. The definition of social economy .............................................................................................................. 15
b. How small business and startups contribute to the development of the social economy ........................ 16
2.3 The differences small, medium and large businesses make to the economy .............................................. 17
2.4 Critical examination of the impact of small businesses on different levels of the economy (local, regional,
national) and in an international context ......................................................................................................... 18
2.4.1 Levels of impacts of SMEs .................................................................................................................... 19
2.4.2. Recommendations to the chosen SMEs so that they can expand their impacts .................................. 21
CONCLUSION ........................................................................................................................................................ 22
REFRENCES ........................................................................................................................................................... 23

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INTRODUCTION
As a business consultant, promoting and building entrepreneurship for young people is very important.
Below is a report on the scope of different types of venture businesses as well as showing the impact of
small businesses on the economy. These will be the sub-sections related to the report:
1. Different types of entrepreneurial ventures
2. Similarities and differences between entrepreneurial ventures
3. Impacts of micro and small businesses on the economy
4. Importance of small businesses and start-ups
For more credible reporting, examples of companies are provided. In addition, information obtained
from this article will be searched from reliable journal articles, company websites, and online
newspapers
About the chosen firm
For small business, the small business selected here is Hai Anh Coffee shop. Hai Anh coffee shop is
owned by Mr. Tran Nguyen Hoang Nam, and the main purpose of this small business is to want to be one
of the businesses in Danang's F&B industry.
Regarding Scalable start-ups, the scalable start-up chosen here is Coc Coc. Coc Coc Technology Limited is
a web browser for the Vietnamese market developed by Coc Coc Technology Limited Company. The
main goal of all 3 founders has always been to build a search engine for Vietnamese and turn Coc Coc
into one of the leading companies in the country.
High-growth firms, High-growth firms are selected here as An Tien industry. An Tien industry started
construction of the first factory specializing in manufacturing CaCO3 plastic additives. And now, An Tien
Industry has reached the top 10 most growing enterprises in Vietnam.
For Social enterprise, the Social enterprise selected here is Vietnam Red Cross. The Vietnam Red Cross is
a humane social organization of the masses. The Association's lofty purposes are humanitarianism,
peace, friendship, contributing to the realization of the goal of a rich people, a strong country, a
democracy, justice and civilization. The Association provides material and spiritual support to people in
need, victims of war, victims of natural disasters and disasters; participate in primary health care for

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people; to mobilize organizations and individuals to participate in humanitarian activities organized by
the Association.
ANALYSIS
I. Explore and illustrate the range of different entrepreneurship ventures
1.1 Types of entrepreneurial ventures and their relation to the typology of entrepreneurship with the
chosen firms
According to (Olaniyan & Ayangbekun, 2017), there are four main types of businesses: small business,
scalable start-up, high growth firm, and social enterprise
1.1.1 Definition of each type of entrepreneurial
a. Small Business
Here are three criteria to be able to evaluate a business as a small business (Bolton, J. E., 1971):
In their market, they only have a relatively small share of the market
- Not through formalized management structures.
- Personalized management here is often used by an owner or partial owner.
- Not being one of the divisions of a large enterprise, also known as an independent.
b. Scalable start-up
In terms of start-ups, start-ups are people or temporary organizations whose main purpose is to design a
scalable and repeatable model Robehmed (2013). To be able to drive rapid expansion, scalable startups
must require large sums of money to be invested (Zwilling, 2013). Start-ups have a primary task: to
create a business model that people are willing to pay to use, be it products or services, and from there
start -up will repeat as well as speed it up.
In terms of start-ups, start-ups that have always had the ability to expand, own monopolies, and
expandability are the things that all types of joint ventures keep an eye on. Good examples are
restaurants, if they find it reasonable to expand their chain, they will. Franchising is what is known as a
scalable business model. This type of business will be used by entrepreneurs seeking growth through
geographic expansion and is increasingly used by entrepreneurs (Castrogiovanni, 2012).
c. High-growth firms
Determining whether a company is a high-growth flims is often based on how well the company is
currently or growing on a specific level. Measurements here are usually measured by measuring a

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company's growth rate between the starting and ending years or by the annual growth rate for a specific
number of years (Alex Coad, 2014). In general, to be able to evaluate the company, often look at the
company's index. The index here is usually only about sales as well as the number of employees
(Johansson D ,2013).
d. Social enterprise
These are social entrepreneurs and are often the ones looking for more world-changing solutions than
profits. Here these companies often exist in the form of government agencies or non-profit organizations
and these companies are often located in many different sectors. Areas commonly targeted are: health
care, education, agriculture and even poverty alleviation (Vavilovs, 2016).
The majority of social enterprises are usually state-owned or owned by the government. Because with
this ownership, the government will raise the standard of living of the people as well as the development
of the country.
1.1.2 Link with each chosen company/firm/business and aspects of Lifestyle and growth firms
a. Typical examples of small businesses are small cafes and bakeries in a small area. In addition, small
businesses can also be store on social platforms such as Facebook, Instagram selling clothes, shoes, ...
In addition, small businesses are owned and operated by a single person, they are monopolies.
The relation of Hải Anh Coffee.
Hải Anh Coffee is the local brand to coffee store in Danang city’s area which is typical for an example of
small business. The business model is owned by Mr. Hoang Nam, and also funded by his money for the
operation. The coffee shop now has roughly 3 employees. As Mr. Hoang Nam said, he opened this
business model in order to fulfill his dream that is to open a business in Danang’s F&B industry.
b. A good example for start-up is Coc Coc. Coc Coc (formerly known as Co Rom +) is a free and only web
browser for the Vietnamese market developed by Coc Coc Technology Limited Company. Coc Coc has
had a development schedule since 2007, but it was not officially commercialized until 2013. The peak
was that in 2014, just one year after its launch, Coc Coc had 14 million users, and now has more than 22
million users, surpassing other browser tools like Google Chrome and Opera. Currently, Coc Coc is still
actively developing so that it can develop better. On the other hand, start-ups like Coc Coc are
considered to be a scalable start-up because up to now, they are always trying to develop in order to
have a larger number of users (Top 10 start-up Việt Nam thành công đáng để học hỏi - Toplist.vn, 2021).

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The relation of Coc Coc.
Coc Coc was founded in 2007 by 3 Vietnamese programmers, Nguyen Thanh Binh, Le Van Thanh and
Nguyen Duc Ngoc. All three studied at the Moscow State University and each applied to the Russian
search engine development team nigma.ru of the Computational and Cybernetics Forum.
Mr. Thanh shared that, from the very beginning, the main goal of all 3 founders has always been to build
a search engine for Vietnamese and turn Coc Coc into one of the leading companies in the country this.
Peter Kennedy - president of HBM in Asia said that the company's decision to invest 14 million USD in
Coc Coc came after 8 months of verifying user data and growth rate of Coc Coc.
Currently, Coc Coc has also become one of the most used browsers in Vietnam (Cốc cốc: Từ số 0 'vươn
mình' thành kẻ thách thức Google, 2020).
c. An example of a high-growth firm here is An Tien Industry. Established in 2009, An Tien Industry took
the name An Phat-Yen Bai Plastic and Mineral Joint Stock Company and started construction of the first
factory specializing in manufacturing CaCO3 plastic additives. In 2010, the factory went into production
and in 2013 the factory was installed with a new production line to increase capacity to 15,000 tons /
year. In 2016 Operate a new production line to increase the capacity of plastic additives to 72,000 tons /
year and invest in building a calcium carbonate powder factory with a capacity of over 90,000 tons /
year. In 2018, it was renamed An Tien Industry and in 2019 invested in two more production lines to
increase capacity to 96,000 tons / year.
The relation of An Tien Industry
Over the past 10 years, An Tien Industry has had a growth rate of over 40% (Development History, 2021).
Currently, An Tien Industry is always trying to develop and now by 2021, An Tien Industry has reached
the top 10 most growing enterprises in Vietnam (News, 2021).
d. A typical example in Vietnam of social organization is the Vietnam Red Cross.
The relation of Vietnam Red Cross
The Red Cross is a humanitarian organization established by President Ho Chi Minh in 1946. The Red
Cross was formed with the aim of providing material and spiritual support to people in need. , victims of
war, victims of natural disasters and disasters; participate in primary health care for people, etc. The Red
Cross is formed by Vietnamese people, regardless of their ethnicity, religion, or man, woman who do
humanitarian work. The Association's lofty goals are humanitarianism, for peace and friendship,

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contributing to the realization of the goal of a rich people, a strong country, a democracy, justice and
civilization (an introduction to the red cross, 2021).
1.2 The similarities and differences between entrepreneurial ventures
Current rivalry in the industry factor (extracted from Porter’s 5 Forces model)
This is one of the internal factors listed in this study that may have an impact on the growth of
entrepreneurial projects. Industry rivalry generally takes the form of jockeying for position through a
range of strategies such as market competitiveness, advertisement, or the launch of new goods. This
influence continues to intensify the level of competition in the market, causing companies in the industry
to innovate in order to achieve a competitive edge.
a. Definition
To better understand the different types of venture businesses, below is a table that includes these 4
businesses. The table below will tell some of the differences as well as about goals, management focus,
staff size, structures, and ultimately outcomes as well as social impact.
b. The key actors in biz environment create the Similarities and differences
About similarities
First, the management and business functions are the similarities of different types of business. They all
have to manage and manage economic resources as well as allocate them in order to have output and
profits, not only that, they also contribute to the exploitation of opportunities (Tapan, 2001). Second, in
business-driven projects, they will define it as providing new value based on innovation in order to
achieve a huge leap out of the market and position now available. According to Hoffman et al (1971), not
only in the environment of large enterprises, but also in the market innovation ideas of small firms are
well developed. Ultimately, the business model will include many aspects such as innovation strategies
as well as tools to ensure company growth and success (Tapan, 2001).
About differences
Factors Small Business Scalable Start-Up High-Growth Firms Social Enterprise
Business
objectvive and
goal
Provide basic living
as well as business
for business
people, their
The company is built
to be able to scale as
well as to create
significant money
Through
expansion, finding
markets that can
bring in revenue
- Maximize impact in
a sustainable way
- Create goods or
services for society

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families and
employees (M. H.
Morris, 2016).
and material for
founders and
investors.
and profit for the
company.
Management
focus
Selling whatever
the owner has
Scalability Incremental
strategic growth
Creating services or
products that can
address socially
essential needs
(Casnocha, 2011).
Employee
number
Not more than 50 Depends on
structure and size
Can be more than
100
Depends on size of
the business
Structure There is no
organizational
structure and run
by a single person
or possibly
collaboration
Mainly corporations
or limited
partnerships.
Complex and can
be a public limited
or private limited
company (Dees,
2017)
The majority are
fiduciary-based
organizations (Dees,
2017).
Outcome and
impact on the
society
-Pay tax
-Create jobs
-Provide products
and services that
are essential parts
of the city's
infrastructure
Job creation,
economic impact as
well as revenue
Creating significant
revenue, jobs, and
economic impact
by maximizing the
right opportunities
for growth.
Improve life as well
as make a social
impact
Table 1. Differences among four types of entrepreneurial ventures
1.3 Entrepreneurship in the public and corporate sector
a. Definition of entrepreneurship in the public and in the corporate sector
Definition of entrepreneurship in the public:
According to Kearney et al (2009), public sector entrepreneurship can be defined as “the process that
exists within the public sector organization that results in innovative activities such as the development

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of new and existing services, technologies, administrative techniques, new improved strategies, risk-
taking, and proactivity”
Definition of entrepreneurship in the corporate sector:
Corporate entrepreneurship, or internal entrepreneurial spirit, is defined as a concept to assist
employees in thinking and behaving like entrepreneurs within the limits of an organizational structure.
Identifying opportunities, developing ideas that lead to innovative new products and services, or a new
business industry is encouraged for employees with the right vision and skills (Kennedy, 2021).
b. Roles and responsibilities of each type
Roles of entrepreneurship in the public:
Entrepreneurship in the public sector is really important because the demand for public services changes
over time, and the formulation and implementation of policies are essential. In today's rapidly changing
global environment, public organizations need entrepreneurship and innovation(Arundel et al. 2015;
Windrum and Koch 2008).
Roles of entrepreneurship in the corporate sector:
Growth: The spirit of business success will ensure creativity and consistency in the processes of the
service as well as the processes of the product, which will lead to revenue as well as future growth of
your organization (Kennedy, 2021).
Increase employee productivity and morale: Employees embrace new opportunities, immerse
themselves in what they consider challenging, interesting work that is what corporate startup programs
allow. Employee productivity is enhanced when employees feel that they are engaged and that their
contribution is appreciated (Kennedy, 2021).
Sources of competitive advantage: In the property market, which is seen as the biggest opportunity and
threat is employees. They can provide insights that are not readily available to competitors and are often
a valuable source of ongoing competitive advantage (Kennedy, 2021).
Recruiting and Retaining Employees: A high level of satisfaction is achieved by allowing employees to
pursue their ideas and opportunities. The result of this is lower employee turnover. Not only that, when
companies are known to encourage entrepreneurship of the business will in turn attract talented,
business-minded employees, creating a positive cycle (Kennedy, 2021).

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c. Critical points comparing
Differences
Factors Public sector entrepreneurship Private sector entrepreneurship
Objectives Greater diversity and multiplicity
of objectives; greater conflict
among objectives (Banfield, 1975; Rainey
et al., 1976; Cornwall and Perlman, 1990)
More clearly defined goals and
objectives; greater consistency among
objectives (Sadler, 2000)
Authority More authoritarian; more
centralized or centrally controlled (Downs,
1967; Pugh et al., 1969)
More democratic; more decentralized (Miller,
1983; Cornwall and Perlman, 1990; Slevin and
Covin, 1990; Miles and Arnold, 1991;
Jennings, 1994; Russell, 1999)
Decision
making
Less decision-making autonomy
and flexibility; more constrained
on procedures and operations;
subject to public scrutiny; major
decisions have to be transparent
(Rainey et al., 1976; Rainey, 1997)
Greater degree of flexibility and
autonomy in the decision-making
process; more participative and
independent in their decision making (Pearce
and David, 1983; Jennings and Lumpkin,
1989)
Rewards/
motivation
Lower financial incentives; does
not share enterprise’s profits
(Ramamurti, 1986; Morris and
Jones, 1999). Lower commitment
and job satisfaction (Rhinehart
et al., 1969; Buchanon, 1974a, b;
Rainey, 1983; Boyne, 2002)
Calculated risk taker; invest personal capital
in the business; higher financial incentives;
profitability is fundamental to generate
income (Ramamurti, 1986; Hornsby et al.,
2002). Greater level of commitment and job
satisfaction (Rhinehart et al., 1969;
Buchanon, 1974b; Rainey, 1983; Hornsby et
al., 2002)
Innovation Public managers are
entrepreneurial in the way they
take risks with an opportunistic
bias toward action and
Create value through innovation and seizing
that opportunity without regard to either
resources (human and capital); produces
resources or endows

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consciously overcome
bureaucratic and political
obstacles their innovations face
(Sanger and Levin, 1992)
existing resources with enhanced
potential for creating wealth (Churchill, 1992)
Risk taking Calculated risk taker; takes
relatively big organizational risks
without taking big personal risks
(Morris and Jones, 1999)
Risk taking is a prime factor in the
entrepreneurial character and function;
assumes significant personal and financial risk
but attempts to minimize them (McClelland,
1961; Palmer, 1971; Timmons, 1978; Welsh
and White, 1981)
Proactivity Uses every opportunity to
distinguish their public enterprise and
leadership style from what is the norm in
the public sector; understand the business
as well as supporting the opportunity for
business growth and development
(Ramamurti, 1986)
Pursues an opportunity, regardless of the
resources they control; relatively
unconstrained by situational forces
(Timmons, 1994; Bateman and Crant, 1993)
Funding
and profit
Not constrained by narrow profit; easier
to obtain funding for risky projects; easier
to raise capital; do not have a profit
motive, instead they are guided by
political and social objectives (Ramamurti,
1986; Morris and Jones, 1999)
Can be constrained by narrow profit; more
difficult to access and obtain funding for risky
projects; difficult to raise capital; profit-
oriented (Ramamurti, 1986)
Table 2. Differences between Public sector entrepreneurship and private sector entrepreneurship
(Public and private sector entrepreneurship: similarities, differences or a combination?, 2009)