Order Assignments Now Get Upto 50% Off Get UPTO 50% OFF on Your 1st Assignment. Redeem Code: EASTER Order Now
Search
Listening..

Entrepreneurship and Small Business Management

University: UKCBC College London

  • Unit No: 11
  • Level: Diploma
  • Pages: 6 / Words 1436
  • Paper Type: Assignment
  • Course Code: BUS020C415S
  • Downloads: 1098
Question :

The senior member working with Federation of small businesses have asked to identify ways through which entrepreneurship could be promoted in the local area. Below mentioned are some of the essential elements which are to be covered under report:

  • Examination of different types of entrepreneurial ventures along with stating the typology of entrepreneurship.
  • Exploring the similarities and differences between different entrepreneurial ventures mentioned in the previous question.
  • Presentation and interpretation of data which highlights the impacts of micro and small businesses on economy of a nation.
  • Provide an explanation of importance of small businesses and start ups towards social economy.
  • Determination of traits and skills which are essential to be a successful entrepreneur with use of real life examples.
  • Conduct an assessment of how entrepreneurial personality reflects entrepreneurial mind-set and motivation.
  • Examination of how background and experience of a person can hinder or foster entrepreneurship.
Answer :
Organization Selected : Tech (UK) Limited

INTRODUCTION

An entrepreneur is an individual who run business with the purpose of attaining larger profitability. In this they also has capability to take risk for converting into profit. In this context, they set new and innovative things to operate business for attaining sustain in market for longer period of time. In addition of this, it is important for them to make an effective research to analyse the market trends and demand (Blackburn, Hart and Wainwright, 2013). It is important for person to create innovative ways to make their process effective which may leads in attaining set goals and objectives. With the help of this, they easily attaining better success at market place. Current report is based on entrepreneurship and small business management. Various entrepreneurial ventures is also mentioned in this report. Along with this, it is important for entrepreneur to set innovative and creative ideas within their process to attain high profitability level.

PART 1

P1 Types of entrepreneurial ventures and their relationship with typologies

Entrepreneurial Venture: It is refer to regular business but actually it is not. Along with this, it is that type of business which is run by the person with new and innovative ways to attain opportunities to run their business in effective manner. This will contribute in developing economic development. Basically, it is fast in developing wealth with risk. It directly contribute in producing quality products and services.

Entrepreneur:

Person who run their business with limited resources which the aim of attaining profitability level. They are the single person who take risk at the time of manufacturing products.

Types of entrepreneurs:

  • Serial entrepreneurs: These are those entrepreneurs who run their business by taking challenges. Under this they set various new and innovative ideas to set their business in effective manner.
  • Social entrepreneurs: These type of entrepreneur who set their business just for solving the issues and problems of the society (Bridge and O'Neill, 2012). The main aim of this entrepreneurs is to increase social welfare which contribute in developing the economic condition.
  • Female entrepreneurs: These type of entrepreneurs are known female as they run their business with creativity and also control entire work as per their own responsibilities. Along with this, women entrepreneur is easily handle their staff members effectively as compare to female entrepreneurs.

Concept of entrepreneurship:

This can be defined as an effective process through which person prepare, design and launch new business at small level by taking high risk (Carsrud and Brännback, 2011). Along with this, they set their business with the purpose of attaining success in market place by introducing their new and quality products and services.

Key Ventures of entrepreneurs:

  • Small business entrepreneurs: In today's time various types of entrepreneurial ventures are operate their business in UK. In which they approx 6 million small business are run in UK market. It includes travel agents, consultants, cafe and many more. Along with this, people are operate their business at own risk in order to make it in higher profitability level.
  • Scalable entrepreneurship: These type of ventures are created with new and strong ideas to change the whole business. In this, they make as well arrange financial funds form various investors to execute their ideas in appropriate manner.
  • Social entrepreneurship: Under this, these type of ventures are operate their business for improving the social condition. As they provide better services to provide various benefits to society. Along with this, they produce their products for workers without any harm.

Relation of ventures with entrepreneur typology:

As entrepreneurial ventures are highly relate with its typologies which contribute in overall development of the economy of nation. Like lifestyle ventures are connect with social entrepreneurship. All these are run their business with the purpose of attaining higher growth at market place.

Types of typology:

  • Lifestyle Ventures: Under this, business give immediate profits to the business. As entrepreneurs work alone (Chittithaworn and et. al., 2011).
  • Survival ventures: These type of business start for generating money for their family. As they are small business with less resources. It includes Grocery stores, barbers and many more.
  • Managed growth Venture: These type of business is run by talented and smart business men as they effectively know that how to generate money for their business (Chrisman and et. al., 2012). As they invest their money those place where they make high profits.

P2 Similarities and Difference between entrepreneurial ventures

In today's time number of entrepreneurial ventures are operate their business in the economy. In this they take risk and run business in effective manner. In addition of this, similarities and difference between in all the entrepreneurial ventures.

Similarities

Lifestyle Ventures

Social entrepreneurs

 

These type of ventures are start with small scale.

The main aim of this ventures is not generate money and profits.

These type of ventures are also start at small level for operate their business for society development.

This type of ventures are work for society benefits not for attaining higher profits.

Difference

Lifestyle ventures

Serial entrepreneurs

 

This type of business operate their business with limited funds

Along with this they run their business with their passion not for making any kind of strategies.

In the they run their business for improving their lifestyle not for earn huge profits.

As these type of business operate their activities by getting funds from investors. In this they wants to improve their business for attaining higher growth.

This type of ventures make their own ad effective strategies to manage entire activities.

Serial entrepreneurs having their particular location from there they serve their services to larger number of customers.

One of the main aim of this type of business is to generate profits.

 

SIMILARITIES

Female Entrepreneurs

Male Entrepreneurs

 

Women arr more creative and focused entrepreneurs as they easily maintain their office activities (Dennis, W, 2011).

Female entrepreneurs set new and innovative ways to perform their work for attaining better success at market place.

Male entrepreneurs are only focus on their business as they set their targets to attain better results.

Male entrepreneurs run their business with passion and dedication to make their business more successful in market.

DIFFERENCES

Female Entrepreneurs

Male Entrepreneurs

 

Female entrepreneurs spend lots of time in decision making process as some time it creates negative impact on business activities.

Female entrepreneurs focus on developing quality products and services which contribute in development of society (Zott, Amit and Massa, 2011).

Female entrepreneurs are hesitate at the time of taking financial risk.

Along with this, they easily build better relation with heir customers and customers as well.

Male entrepreneurs are easily take any kind of decision.

As male entrepreneurs highly focus on reducing the production cost in order to develop better performance of the company.

Male entrepreneurs easily handle financial decision in market which may helps in developing the business condition.

One of the main difference is that male entrepreneurs task oriented people.

Download Full Sample
Cite This Work To export references to this Sample, select the desired referencing style below:
Global Assignment Help.(2024) Entrepreneurship and Small Business Management Retrieved from: https://www.globalassignmenthelp.com/free-samples/business-environment/entrepreneurial-ventures-and-their-relationship-with-typologies
Copy to Clipboard
Copy to Clipboard
Global Assignment Help (2024) Entrepreneurship and Small Business Management[Online]. Retrieved from: https://www.globalassignmenthelp.com/free-samples/business-environment/entrepreneurial-ventures-and-their-relationship-with-typologies
Copy to Clipboard
Global Assignment Help Entrepreneurship and Small Business Management. (Global Assignment Help, 2024) https://www.globalassignmenthelp.com/free-samples/business-environment/entrepreneurial-ventures-and-their-relationship-with-typologies
Copy to Clipboard
Global Assignment Help Entrepreneurship and Small Business Management. [Internet]. Global Assignment Help.(2024), Retrieved from: https://www.globalassignmenthelp.com/free-samples/business-environment/entrepreneurial-ventures-and-their-relationship-with-typologies
Copy to Clipboard
Often times, students feel unable to work on assignments and think, “Who will do my assignment?” By providing "Sample" on various subjects, we are trying to help them understand all the intricacies of writing. We have the most qualified and skilled assignment writers who can provide the best assignment writing services, essay writing services, dissertation writing services, and more at the most affordable rates. Place your order now for surprising discounts.
Boost Grades & Leave Stress

Share Your Requirements Now for Customized Solutions.

Lowest Price
USD 7.13

    Delivered on-time or your money back

    100+ Qualified Writers

    For Best Business Environment Assignment Help

    • expert name
      1231 - Completed Orders
      Pamela Clinton View Profile Graduate in Sports & physical activity USA Hire Me
    • expert name
      345 - Completed Orders
      Imogen Webb View Profile Master's in Customer Services UK, USA & CA Hire Me
    • expert name
      837 - Completed Orders
      Dr. Joseph Parker View Profile Ph.D in Geography USA Hire Me
    • expert name
      2134 - Completed Orders
      Bill Anderson View Profile B.tech in Acoustical Engineering USA Hire Me
    View All Writers
    FREE Tools

    To Make Your Work Original

    • tools Paraphrasing Tool

      Easy to Use Paraphrasing Tool to Simplify Complex Academic Writing

      Check Paraphrasing
    • tools Plagiarism Checker

      Check your work against plagiarism & get a free Plagiarism report!

      Check Plagiarism
    • tools Reference Generator

      Get citations & references in your document in the desired style!

      Generate References
    • tools Grammar Checker Tool

      Make your content free of errors in just a few clicks for free!

      Grammar Checker
    • tools Essay Typer

      Generate plagiarism-free essays as per your topic's requirement!

      Essay Typer
    • Dissertation Outline Generator

      Get Structured Outline by Professionals for Your Dissertation

      Check Dissertation
    • Thesis Statement Generator

      Create the perfect thesis statement in just few minutes!

      Generate Thesis
    • AI Essay Writer

      Get a well-researched and quality essay effortlessly in a few seconds.

      AI Essay Writer
    GAH whatsapp

    Limited Time Offer

    Exclusive Library Membership + FREE Wallet Balance

    Number successfylly updated