Entrepreneurship and Small Business Management: Managing Success

This presentation provides an overview of entrepreneurship and small business management, focusing on different types of entrepreneurial ventures, including managed growth ventures, public sector entrepreneurship, social enterprises, and aggressive growth firms. It discusses the similarities and differences between these ventures in terms of management focus, funding, economic motives, and exit strategies. The presentation further examines the scope, development, and growth of each venture type, highlighting their unique characteristics and challenges. It concludes by emphasizing the importance of innovation and risk-taking in entrepreneurship and how different ventures contribute to economic and social development. Desklib offers a wealth of similar resources for students seeking to deepen their understanding of business and entrepreneurship.

Entrepreneurship and
Small Business
Management Managing
Entrepreneurship for
Success

INTRODUCTION
 Every big company started as a small one by an idea, creativity
and management of an entrepreneur. Entrepreneurship is an act
of individual or group of individual that set of a business by
taking financial risk to generate profit.
 In this Presentation, different type of entrepreneurial
venture relations to different type of entrepreneurship and their
similarities and differences would be discussed.

Types of Entrepreneurial Ventures
 Managed Growth Ventures
These ventures are focused on stable and strategic
growth with pursuit of innovation, opportunities,
expansion with control.
 Public Sector Entrepreneurship
It is a process in which innovation is introduced,
new ideas are generated and implemented in the
public sectors.

CONT.<…
 Social Enterprise
Social Enterprises are businesses that have specific social objectives. One example
of social enterprise is Co-op Funeralcare, becoming United Kingdom's biggest
funeral director. These are small size social venture.
 Aggressive Growth Firms
Aggressive growth firms are disruptive businesses that holds power to change the
industries, markets, societies and even world sometimes. Companies like Apple,
Facebook are few of those ventures who opt in this kind of entrepreneurial venture.

Similarities between different ventures
The different ventures have different goals, yet they operate while having many
similarities. Every company aims to grow, and needs investment to run operations.
 Creative Idea
Every firm needs creative ideas to sustain in market and make loyal customer to retain and
make profit in the industry. Even if it is a public sector venture like TFL or high growth
firm like Facebook.
 Funding or Investors
Without capital initiation of any firm is not possible. They need funds to buy assets and
produce their products or services. Apple needs funds to make their products like mobile
phones or MacBook.

CONT.<…
 Sustain against large businesses or competitors
In a market, there could be found many competitors or
substitute business for brands, and they have to sustain in
the industry in order to run their business.
 Creating a Brand Name
As discussed earlier, businesses needs to sustain in market
against other businesses and competitors and that could be
possible through creation of brand name of the organization.

Differences Between Different Ventures
Basis Managed Growth Public Sector Social Enterprise Aggressive Growth
Management focus Incremental Strategic
growth
Maintaining Working
business model
Work Integration Scalability
Management Style Strategic Tactical Reactive Strategic and proactive
Funding Banks, Private Investors Public Shares, and
government Investors
Grants, Investments,
venture capital
Public Markets, venture
capital firms, private
investors and Banks
Economic Motives Wealth Creation Wealth creation for
public gain
Income Substitute/ Non-
profit
Wealth Creation
Reward Emphasis Salary, performance
incentives and equity
Equity Salary Capital gain, Equity
Exit Strategy Sell, merge or transfer Sell, merge or
privatization
Sell or Shut down Sell, merge or go public

Scope, Development, and Growth of
Entrepreneurial Ventures
 Managed Growth Ventures
 The scope related to managed growth venture is related to constant stable growth
by selling its product and services by targeting potential customers. Yet they fail
to take risk and make big profits.
 Growth and development of these ventures are targeted to be stable, by pursuing
efficient innovation and opportunities and expanding the business with control.

CONT.…
Public Sector Entrepreneurship
 Their aim is to sustain in public sector and have huge scope to expand in a country.
 Public sector ventures aim to uphold public interest which can limit its expansion
in more private corporate sector.
Social Enterprise
 Social enterprises are run for social welfare and their first and foremost objective is
to complete their social goals.
 Scope for public sector is evidently more likely than the corporate sector.

CONT.…
Aggressive Growth Firms
 They tend to be more innovative and risk-takers.
 Company have proactive way of approach while running a business, generating greater
scope for expansion and profit making. Yet those risks could result in disruption.
 They try to create a market that is non-existing or change people's need which in public
sector could have negative impact.

CONCLUSION
 In conclusion of this presentation, entrepreneurship is a process of setting up a business
with an innovative idea by taking financial risk in order to gain profit.
 There are different types of entrepreneurial ventures, such as, Managed growth venture,
Public sector entrepreneurship, Social enterprise and Aggressive growth firms.
 They are categorized into different typologies, i.e., Any established company, small
size venture, large size venture and high growth firms.

REFERENCES
 Burton, M. D., and et.al, 2019. The organizational design of entrepreneurial ventures.
Strategic Entrepreneurship Journal. 13(3). pp.243-255.
 Sallos, M. P., Yoruk, E. and García-Pérez, A., 2017. A business process improvement
framework for knowledge-intensive entrepreneurial ventures. The Journal of
Technology Transfer. 42(2). pp.354-373.
 Litzky, B., and et.al, 2020. Entrepreneurial intentions: personal and cultural variations.
Journal of Small Business and Enterprise Development.