Sample Report on Entrepreneurship And Small Business Management

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Entrepreneurship And
Small Business
Management

Table of Contents
Introduction................................................................................................................................ 3
Part 1.............................................................................................................................................3
P1: Providing an introduction and examining various types of the
entrepreneurial ventures while explaining their relation to typology of the
entrepreneurship......................................................................................................................3
P2: Building several types of the entrepreneurial ventures and exploring
differences and similarities...................................................................................................5
P3: Presenting, interpreting and assessing relevant statistic and data for
illustrating impacts of small and micro businesses on the economy...................6
P4: Explaining importance of small businesses as well as business start ups
on the social economic growth........................................................................................... 7
Evidence: Written Report...................................................................................................... 8
P5: The characteristic traits and skills of a successful entrepreneur:.................8
P6: Aspects of the entrepreneurial personality that reflect entrepreneurial
motivation and mindset:........................................................................................................9
P7: Influence of past experiences and other factors in determining successful
innovators:................................................................................................................................11
Conclusion:...............................................................................................................................12
References................................................................................................................................13
Sample Report on Entrepreneurship And
Small Business Management
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Introduction
Entrepreneurship is one of the key materials used for commencing any
business organisation in order to achieve the set goals as well as objectives.
An appropriate and proper entrepreneurship is highly required for a
successful organisation. The study provides explanation of various types of
entrepreneurial ventures as well as their relation to the entrepreneurship. It
also provides an exploration of the differences and similarities among the
entrepreneurial Ventures as well as the entrepreneurship they carry with
themselves. The study shows the importance of small businesses as well as
the start-ups on achieving the growth of the economy the second section of
the study determines the criteria behind a successful entrepreneur along
with few of the examples it also reveals about the aspects of entrepreneurial
personality which reflects mindset and entrepreneurial motivation. The study
portrays the effects of an individual's past experiences along with their
background on hindering of fostering the entrepreneurship.
Part 1
P1: Providing an introduction and examining various types of the
entrepreneurial ventures while explaining their relation to typology
of the entrepreneurship
Entrepreneurial ventures are typically focused over providing the advisory
services to mid stage as well as early stage companies. The role of
entrepreneur ventures varies depending upon the stages of the company.
The principal goals associated with any entrepreneurial venture are
considered as growth and profitability and the particular business is
characterized through innovative and strategic practices. Entrepreneurial
ventures are said to be for the new and innovative offerings. The
entrepreneurial ventures have been habituated in undertaking huge risks
(Rivera-Santos, Holt, Littlewood & Kolk 2015). The prime target of these

entrepreneurial ventures is higher returns on productivity as well as Rapid
growth. The various types of entrepreneurial Ventures are:
Private ventures:
Private Enterprises are those ventures which are governed and owned by
private owners of businessman. The entire investment is done by them and
they are huge risk lover. Most of the Private Enterprises aim at earning more
and more profit and revenue. The profit oriented mind of Private enterprises
let them achieve and pursue greater good in the economy by meeting up
each and every goal and objective. Every private entrepreneurial venture
possesses business as well as industrial entrepreneurship.
Public Enterprises:
Public ventures on those ventures which are owned by government every
decision in this ventures are taken up by the government itself and
processing the decisions also comes under responsibility of the government.
Public ventures tend to focus more upon the welfare and well being of the
society they are hardly profit oriented the type of entrepreneurship that is
being maintained under Public ventures is trading entrepreneur as well as
business entrepreneur.
Social Enterprises:
Social entrepreneurs seem to be the innovators who extremely focus on the
creation of services and products which solve the social problems and needs.
Their goal is basically towards making the world a better place and not to
enjoy the market for creating wealth for founders. These enterprises or
ventures might be for-profit, non profit or hybrid. The kind of entrepreneur
related to social Enterprises is social entrepreneur who ends at achieving
social benefits rather than earning profits (Park, LiPuma & Prange (2015).
Small businesses:
Small businesses are the ventures which have not been formed for longer
period of time left they have on huge profits through their innovative and

modern ideas and thoughts small businesses could be regarded as
hairdressers, consultants, grocery stores, travel, agents, storefronts, Internet
commerce numbers carpenters and the electricians. Small business
enterprises have small business entrepreneurs who govern and own the
businesses.
P2: Building several types of the entrepreneurial ventures and
exploring differences and similarities
Ample differences could be figured out in the context of various
entrepreneurial ventures and the similarities and differences could be
explored easily. The prime differences among the private, social and public
Enterprises could be illustrated as follows:
Public enterprises
Enterprises have the objective to render service to society including people.
It effectively plays the role of minimising wealth concentration and
accumulation in hands of specific persons. These Enterprises are formed with
social interest and prevents regional and unbalanced growth of different
industries. The public Enterprises are often free from the risk of expectation
and hence, the consumers as well as the employees are provided with fair
dealings. The scope and opportunities of public Enterprises are quite large
and can attain growth at a gigantic size. It basically undertakes every sort of
the industry respective of their nature (Villanueva & Newbert (2016).
Social enterprises
Social Enterprises being different from both public and private enterprises
have this mission and objective of creating economic as well as social value.
The values associated with his Enterprises are social and corporate. the
strategies of this Enterprises are based upon utilising enterprise activities for
achieving social purpose the targeted customers of the social Enterprises
have been community customers for the beneficiaries the profit in terms of
this social Enterprises are mainly contribution towards social and services.

Private enterprises
On the contrary to public and social Enterprises Private Enterprises
established with the predominant objective to earn maximum amount of
profit. It lends concentration of adequate wealth in hands of fewer people
and is typically formed with the personal interest. The private Enterprises are
not at all free from the motive of exploitation and employees as well as
consumers or not provided with the fair dealings. It basically feels
inadequacy or insufficiency of the capital for undertaking costly and risky
projects and thereby undertakes industries of consumer goods where the
scope of earning profit is relatively higher. It can eventually be operated on a
large scale but cannot obtain a gigantic size of the market.
The goals and objectives of both public and social Enterprises to some extent
similar to each other while they are different from that of the private
enterprises creation of value and Strategies for that almost same in all the
three Enterprises (van Werven, Bouwmeester & Cornelissen 2015).
P3: Presenting, interpreting and assessing relevant statistic and
data for illustrating impacts of small and micro businesses on the
economy
Small businesses in the professional services, creative and digital industries
have become increasingly significant growth in the context of output and
Employment. Employment has sincerely increased in the period of 2009 till
2013 in most of the developed Nations such as UK and US. Output from
Digital sector has increased almost seven fold or 657 percent between the
era 1990 till 2013 and in professional services it has increased of about
286% and for the creative sector almost 196% growth of small businesses
have been observed. Small businesses has critical is developed almost 64
cities of UK economy. It has irrevocably greater effects on the development
and growth in the UK economy over the past years there has been a
noticeable shift in UK economy towards most innovative and knowledge
intensive industries. The knowledge intensive services almost makeup the

34% of the entire UK of and almost 29% of the entire employment. In the
period of 2009 till 2013 the employment has rapidly increased in New York
industries by four times higher than the UK economy ("Small Business
Outlook 2015 - Centre for Cities", 2017). In the last 4 to 5 years employment
in the creative forms had grown up by almost 4.9% in visual forms almost
3.2% along with under professional services almost 12% with an overall
growth of 2%.
The development of the small business has local regional National as well as
International impacts on the entire economy. Local impacts include external
public relations which make them popular and famous. For instance, any
small business having good relations with customers might be better known
in the market for those customers who have received from the particular
company. It also satisfies the customers by providing superior quality goods
and best customer services which has severe impacts on the goodwill and
reputation of small business.
Regional impacts Such as any driving local business would generate high
levels of income which implies that that particular business would be
considerable amount of taxes including the regional and local taxes this is
intern used by the local police fire, departments along with schools. Both
National and international impacts could be judged by the growth and
success of the business achieved within this years and a tremendous
development in the small business has been observed on the entire world
economy in past few decades.
P4: Explaining importance of small businesses as well as business
start ups on the social economic growth
Small businesses and start of industries in the entire economy has on lump
sum amount of revenues in the past few decades which hand and it
economic advantage to the social economy consisting of authority is like CSR.
Out of the revenue generated by this start-ups and small business
Enterprises with social economy had received a proportion of it as tax. The

tax collecting over these years has been added in the accounts of the social
economic Enterprises in order to let them enjoy benefits. NGOs receive a
part of the income on by small businesses as well as start-ups as
contributions and are benefited on a large amount within the economy. The
growth in the small businesses and start-ups is complementary with the
group in the social economy (Autio et al. 2014).
Evidence: Written Report
P5: The characteristic traits and skills of a successful entrepreneur:
Entrepreneurship has been conventionally referred to the person who has
been developing, structuring, framing, designing in the establishment of a
business that include small, medium and large firms. Entrepreneur is the
significant personnel in setting up of a company and drives its operations
and performance. Every business initially begins within a small setting, and
the entrepreneur helps in building it large with his innovative, creative ideas,
opinions and strategies in running a new business (Ramirez et al. 2016).
Briefly person responsible in the foundation of a business is called an
entrepreneur.it is their willingness, strategy, planning towards setting up of a
business that makes him a successful entrepreneur along with the
personality traits like innovation, authorial power, patient, moral, practical,
creative etc. the most well-known entrepreneurs of the world include Oprah
Winfrey, Walt Disney, Steve Jobs, Benjamin Franklin and other personalities.
We can call them as the personalities who are born to be successful
entrepreneurs (Grimes et al. 2013). They have been inspiring the
entrepreneurs of world at large and motivates and encourages them in being
a perfect entrepreneur. Through their work, they set examples to the millions
of entrepreneurs who are running their business across the globe. With the
rise of global economy and advancement, more successful entrepreneurs are
emerging with more ideas and strategies. All these personalities over the
years have been taking risks and challenged the world in making their
business and dreams large and have succeeded in creating a global outlook

catering to the people across the globe. It is the entrepreneurs who are
significant in the decision-making process and plan the work structure, and
divide the employee work into different segment. Besides, they deal with
funding arrangements, fulfilling the needs of the stakeholders and catering
towards meeting the demands of the customers rather appealing the world
at large. Apart from the positive specks of business that the entrepreneur
look into, the crisis, finance, social and economic crisis, lack of employment,
performance fall, customer dissatisfaction is also assessed and examined by
them (Cramer, 2016). On the whole, the successful entrepreneurs are the
driving force in running a business. A successful business entrepreneur has
certain skills such as implementation of creative ideas, effective planning,
use of business techniques, ideas, utilization and methods, exploration n and
ensure continues learning, helps in meeting changes and challenges,
continuous improvement and development, identification of risks, handling
uncertainty and ambiguity. effective use of technology and performance and
talent management and control.
P6: Aspects of the entrepreneurial personality that reflect
entrepreneurial motivation and mindset:
It is the discipline, learning, development of a child with marked exceptions,
thought quality, intellectuality that gets out the most from a person and
building in a successful person, similarly, entrepreneurship is influenced a lot
from a business family that helps the individual in emphasizing on the
pursuit of opportunities and expand and identify the unique qualities. Family
is an important driving force in the life of an entrepreneur as he is brought
under motivated group of people who has fostered his education and skills as
family upbringing affects a lot in the growth and development of an
individual (Arend, 2013). Family businesses help the individual in educating
and understanding of the management, development, governance, authority,
profit. Proper education does not only refer to the institutional education but
the disciple, knowledge gathered from and within a family that may or may

not be a business family. There are other personality traits that motivate an
entrepreneur. The successful entrepreneurs have ben embracing family
perspective and practices and have started working in developing family
business with effective approaches. There have been several researches that
have studied the influence of families over entrepreneurship. The personality
of the entrepreneur needs to be influence and motivate other members and
employees towards attaining the targeted gaols. In order to plan effective
business plan, it is important for the entrepreneur in understanding the
location, environmental and social and economic factors that govern the
business et up and arrange funds, shareholders and investor who will help in
raising funds and invest in building of the business firm, alongside need to
strategize the appointment of the professionals, key personnel towards
attaining the goals and recruit effective team in developing the productivity.
All these factors together foster and enhance the business structure (Gandhi
et al. 2015). In addition, the entrepreneur need to analyse the business
situation, collect data, research and survey, plan, assess and execute.
Therefore, levels of implementation of the business plan stands as the
crucial factor towards establishment of successful business firm. The life of a
business structure depends much on the cash flow and fund. Therefore, it is
important to find trust, loyal and efficient investors, promote markets
strategy, services and establishes proper distribution and supply channel
that generates profit while identifying the targeted customers and promote
the quality of products and brand keeping in mind the target profit. Strategic
money management is significant and proper reports and records need to be
regularly monitored in relation to the profit structure, inventory, supplies,
wages, funds etc. however, the most important factor being the satisfaction
of customers and clients without whom there can be no business. The
entrepreneur above all need to cater towards the fulfilment of the
customer’s need and requirements and produce quality goods and services
by planning strategic policies, presentations, advertisements, customers

service, campaigns etc. besides, it is important to collect the feedbacks and
reviews that will also allow the customer in being a part of the decision-
making process and help in improving the existing products (Gedeon, 2014).
P7: Influence of past experiences and other factors in determining
successful innovators:
It is not easy to become a successful entrepreneur, one travels through
failures hardships, complexities, risks in order to become successful. An
entrepreneur need to fall only to learn a lesson, ever failure itself is a lesson.
The failure and bad experiences give birth to learning outcomes and help the
entrepreneur in improving one self. Therefore, the most important thing is to
muster confidence so that one can still have confidence after several failures
and need to boost up one’s ability (Cassar, 2014). Through the past
experiences one learns how to turn a vision to a strategic and successful
business operations and master ability in formulating and implementing the
strategized market and financial plan. It is important to recruit a core team
who will live on the motto and the vision of the company and help in building
it a large and preserve one’s own commitment and performance. The most
important quality of an entrepreneur is to adjust and have patience while
implementing the business plan and adjust the business operations in
relation to the existing economic and market conditions. Entrepreneurship
education is significant for one to have right knowledge about the process
(Randøy et al. 2015). Proper education helps in providing effective
knowledge, skills, current data, and accordingly motivate the entrepreneurs
towards fulfilling every level of setting a business. Every nation is
determined by economic social and cultural environment. National culture
influences the entrepreneur as the cultural value norms, perspectives
motivates the entrepreneur towards effective decision making. The policies
of the government, diverse culture, innovative thoughts all plays a vital role
in the development and growth of the business company.

Conclusion:
In order to be successful in implementing effective business plan, innovation
is important in the part of entrepreneurship. Proper planning and
implantation help in setting up of a firm and sustain development. The
personality and character traits have an effect on the running of the business
operations, as the whole business in influenced by the entrepreneur traits
that is applied in producing best goods and services. In addition, the
entrepreneur needs to focus on the financial innovation that will be able to
meet the infrastructural, technological and customer needs and
requirements. It is therefore important in practicing innovative entrepreneur
activities, policies in expanding the brand name and be successful market
leaders in the competitive world and contribute to the world economy and
development.
Sample Report on Entrepreneurship And
Small Business Management
To Buy Complete Assignment Help Writing
Services
Kindly Contact Us :-
Toll Free: +61 879 057 034
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References
● Arend, R.J., 2013. A heart-mind-opportunity nexus: Distinguishing social
entrepreneurship for entrepreneurs. Academy of Management
Review, 38(2), pp.313-315.
● Autio, E., Kenney, M., Mustar, P., Siegel, D., & Wright, M. (2014).
Entrepreneurial innovation: The importance of context. Research Policy,
43(7), 1097-1108
● Cassar, G., 2014. Industry and startup experience on entrepreneur
forecast performance in new firms. Journal of Business Venturing, 29(1),
pp.137-151.
● Cramer, S.M., 2016. Teaching and Researching Entrepreneurship: the
Small Business Institute 2016. Ticker: The Academic Business
Librarianship Review, 1(3), pp.7-9.
● Gandhi, S.J., Robb, C., Hope, T., Wilson, M., Hecht, D., Hofbauer, G., Jattke,
A. and Vijayraghavan, V., 2015. Development of a Tool to Evaluate
Innovation Practices and Entrepreneurship in an International
Context. Development of a Tool to Evaluate Innovation Practices and
Entrepreneurship in an International Context.
● Gedeon, S., 2014. Application of best practices in university
entrepreneurship education: Designing a new MBA program. European
Journal of Training and Development, 38(3), pp.231-253.
● Grimes, M.G., McMullen, J.S., Vogus, T.J. and Miller, T.L., 2013. Studying
the origins of social entrepreneurship: compassion and the role of
embedded agency. Academy of management review, 38(3), pp.460-463.

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