Comprehensive Report: Leadership and Small Business Management

This report delves into the realms of leadership and small business management, exploring the dynamics of entrepreneurial ventures. It examines the core principles of managing, organizing, and developing new businesses to achieve returns on investment, encompassing the utilization of resources...Read More

Leadership and Small
Business Management

Table of Content
 Introduction
 Solutions related to work based problems
 Communicate in various styles
 Effective time management strategies.
 Tools and methods used for developing solutions to problems
 appropriate strategy used for resolving a particular problem of labour turnover.
 Evaluating the potential impact on the business of implementing the strategy References

INTRODUCTION
Entrepreneurship can be defined as the way to manage, organize and
develop a new venture in order to get the returns from their
investment. It is the accumulation of several resources which
undertakes natural resources, labour, land and capital to generate
profits for the organisation. Small business are managed and
controlled by an entrepreneur who owns operations and staff to meet
the needs of customers. The major agenda of small business is to
develop a new market for their service and products which is based on
a business plan.

Continue..
Balfour beauty is small business of UK which deals in construction
services and infrastructure investment. This report involves different
types of entrepreneurial ventures and its typology along with
similarities and differences between them. Moreover some skills and
mindset that is required to set a business are elaborated in this
report.

Types of entrepreneurial venture
Small business entrepreneurship- In this business there are small
number of employees along with a single owner.
Scalable entrepreneurship- These types of business are started with
the idea that bring an radical change in the society by introducing
the innovative products and services from the starting.
Large company entrepreneurship- Large business refers to those
which provides large number of products to customers.
Social entrepreneurship- This entrepreneurs are the innovators that
focuses on manufacturing effective products and services in order to
solve the needs and problems of society.

Similarities and differences between
several entrepreneurial ventures
Goals
Goal of small organisation is to earn more amount of profits for their
business.
Risk
In small business risk present in small amount but due to competition it
impact on all operations of business.
Number of employees
In this there are less than 50 employees work for them to complete
their activities.

Data and statistics of micro and small
businesses
In present scenario most of the business are operating their business at
small level which determines that they plays an crucial role in the
development of the economy. Usually most of the small and micro
businesses captures wide area of market that helps them to increase
the sale of their products. Moreover within UK there are more than
4 million SME are performing their operations smoothly in the
market.

Importance of small businesse
Competition- Small business provides major benefits to the society
which determines that they play an important role for reducing the
competition in the country.
Local hiring- Micro or small business operates their business at local
and small level. So they recruit local people through which there is
increases in the employment rate of society.
Diversity- Small business are more flexible which helps them to modify
and control their strategies according to the market conditions.

Characteristic, traits and skills of successful
entrepreneurs
Duncan Bannatyne
Passion- Successful entrepreneurs are always motivated about their work. It
helps them to complete their work with high motivation.
Learning ability- Most of successful entrepreneur always adopt new things to
learn. It helps them to increase the value in their product.
Alan Michael Sugar
Self motivation- It is one of the most essential trait through which an
entrepreneur is always dedicated about their work.
Communication skill- Entrepreneurs convey transparent and clear message to
their stakeholders. So they help them to move their efforts towards
organisational goal.

Personality of an entrepreneurial
motivation and mindset
 Openness
 Conscientiousness
 Extraversion
 Agreeableness
 Neuroticism

Example that hinder or foster entrepreneurship
Background- Alan is a British business man who was born in the year
1947 in UK. He belong to an Jewish family. At the age of 16 he
worked as an civil service man and further Alan started to sale
goods that are made of electronics which helps him to owned the
title of successful businessman.
Background- Duncan Bannatyne is the another entrepreneur that is
expanded their business at global level. He is an Scottish
entrepreneur which operates their business in hotel, club, health and
spa. He was born in the year 1949 in early stage Duncan perform
different jobs that help to learn new things.

Conclusion
From the above report it is concluded that entrepreneurship and small
business management are the major factors that help an economy to
grow with the rapid speed. Entrepreneurial ventures work as pillar
for the economic that helps to increase their market share by
separating the business on different factors. Their are some
similarities and differences are present for each type of business
venture such as risk and profits. In addition to this characteristic,
skills and traits are elaborated that help that reflect the personality of
an entrepreneur.

Thank-You