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T/508/0495 Entrepreneurship and Small Business Management

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  • Course Code: T/508/0495
  • Course Title: T/508/0495 Entrepreneurship and Small Business Management
  • University: Harvard University
  • Country: UK

Scenario:

You are a senior member of the Federation of Small Businesses (FSB) and you have been asked by your peers to consider ways in which the FSB could positively promote entrepreneurship in the local area. As a result, you have been asked to create a report aimed at encouraging and supporting potential entrepreneurs to start a new business.

The overall aim of the report is to explore the range of business ventures available to entrepreneurs, assess the impact small businesses have on the economy, assess the ‘entrepreneurial mindset’ and examine different environments that foster and hinder entrepreneurship.

Part 1

Evidence: Written Report

Pass: This task provides you with the opportunity to achieve: P1, P2, P3, and P4. Your report should include the following:

P1: Provide an introduction to the report by examining different types of entrepreneurial ventures and explaining how they relate to the typology (different types) of entrepreneurship. Your introduction should aim to define entrepreneurship and explore entrepreneurship scope and typology.

P2: Building on the different types of entrepreneurial ventures explored in P1, you are now required to explore the similarities and differences between each. You could consider the roles, characteristics and objectives of different types of ventures: private; public; social enterprises - as well as different sized ventures: micro; small; medium.

P3: Present, interpret and assess relevant data and statistics to illustrate the impact micro and small business have on the economy. You should consider local, regional, national and international economic impacts.

P4: Building on the information you provided for P3, you must explain the importance that small businesses and business start-ups on the growth of the social economy.

Merit: This task provides you with the opportunity to achieve: M1 and M2.

M1: To achieve M1 you are required to develop your response to P1 and P2 by investigating a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both the public and private sectors.

M2: To achieve M2 you are required to develop your response to P3 and P4 by evaluating the differences that small, medium and large businesses make to the economy, applying relevant data and statistics.

Distinction: This task provides you with the opportunity to achieve D1 and D2.

D1: To achieve D1 you are required to develop your response to all aspects of task 1 by critically examining the scope, development and growth of entrepreneurship ventures.

D2: To achieve D2 you are required to develop your response to all aspects of task 1 by critically
examining how small businesses have an impact on different levels of the economy in a local, regional,
national and international contexts.

Part 2

For this part of the assignment, you are encouraged to attend The Business Show 2017 which will be held at the London Excel Centre on the 17th and 18th May. You will have the opportunity to meet, listen and speak to many high profile entrepreneurs and business speakers. This gives you an insight into different ‘entrepreneurial mindset’, personalities, traits, understanding of what makes them successful and why others fail and also knowledge of their background and how it fosters entrepreneurship.

Pass: This task provides you with the opportunity to achieve: P5, P6, and P7. Your report should include the following:

P5: Determine what makes a successful entrepreneur. You could consider examples of successful entrepreneurs and determine the character traits and skills they possess. Similarly, you could explore whether entrepreneurs are born or made and whether entrepreneurship skills can be learned
over time.

P6: Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset. You may wish to consider how personality is shaped by family upbringing, lifestyle, cultural differences and personal motivation and drivers amongst other factors.

P7: Examine, using relevant examples, how a person’s background and past experiences can hinder or foster entrepreneurship. Factors to consider may include level and type of education, national culture, economic circumstances, and character traits. The risks and rewards of starting a business should also be considered.

Merit: This task provides you with the opportunity to achieve: M3 and M4.

M3: To achieve M3 you are required to develop your response to P5 and P6 by exploring and examining different lines of argument relating to entrepreneurial characteristics.

M4: To achieve M4 you are required to develop your response to P7 by analyzing the link between entrepreneurial characteristics and the influences of personal background and experience to specific successful entrepreneurs, differences that small, medium and large businesses make to the economy,
applying relevant data and statistics.

Distinction: This task provides you with the opportunity to achieve D3 and D4.

D3: To achieve D3 you are required to develop your response to all aspects of task 2 by analyzing the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples.

D4: To achieve D4 you are required to develop your response to all aspects of task 2 by critically evaluating how background and experiences influence entrepreneurs, both positively and negatively, by comparing and contrasting examples.

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