Assignment Sample of Unit 9 Entrepreneurship and Small Business Management
If you want to make your own customize assignment please visit: https://topnotchresearch.org/services/
This lecture discusses different types of entrepreneurial ventures including:
- Ventures based on business structure (social enterprise, private limited enterprise, public limited enterprise)
- Ventures based on size (micro, small, medium, large enterprises)
- Ventures based on ownership (public vs private corporations)
It also examines the relationship between different typologies of entrepreneurship (corporate, technology, social) and entrepreneurial ventures. Finally, it provides data showing that over 99% of businesses in Indonesia are SMEs, with limited growth from 2012-2017, posing challenges for the economy.
This document discusses key concepts relating to business and the business environment, including:
1) It outlines different types of organizations (e.g. sole trader, partnership, private/public limited companies), sizes of organizations (e.g. micro, small, medium, large), and the scope and legal structures of businesses.
2) It examines the functions within an organization like marketing, finance, operations, and HR, and how they are related and link to organizational structure.
3) It covers other important business topics such as objectives, stakeholders, market share, profit sharing, growth, sustainability, and the influence of market forces/the economy on businesses.
Entrepreneurship, introduction to entrepreneurship, definition of entrepreneu...Jorge Saguinsin
Introduction to basics of Entrepreneurship covers topics such as social entrepreneurship, business entrepreneurship and various masteries needed. The subject matter covers examples from the Philippines. This a compilation of various learnings from various references. These slides are lectures at Agsb entrepreneurship elective and have been uploaded for the access and convenience of present and past students of the said elective
Procter & Gamble provides an overview of its corporate purpose, values, and principles. The company's purpose is to provide branded products and services of superior quality and value that improve lives. Its values center around attracting and developing top talent. The document also outlines P&G's history and operations in India, including its focus on sustainability and community development. It describes the company's human resources approach, which emphasizes training, development, and performance management to promote from within.
The Mayo Clinic is a non-profit medical group based in Rochester, Minnesota that employs over 50,000 staff. It was founded over 100 years ago by William and Charles Mayo and pioneered the concept of a medical group practice. Mayo Clinic is recognized as a top-ranked hospital that specializes in complex care across many specialties such as cancer, heart disease, and urology. It prioritizes patient care and satisfaction above all else through a focus on team-based and integrated care.
We Care aims to connect customers in GoHana, Sonipat to reliable local professionals through their mobile apps and website for household services like cleaning, repairs, and caregiving. This provides an affordable single platform for services needed regularly. Their target audiences are working individuals, new families, single housewives, and seniors. Initially they will use messaging apps and later develop their own mobile app. No direct competitors exist in GoHana, though some operate in nearby New Delhi. Marketing will use pamphlets, contacts, and incentive offers. Funding comes from savings, loans, and borrowings to cover premises, technology, staffing and other startup costs.
This document provides a business plan for a Dosa restaurant. It outlines objectives to keep food costs below 35% of revenue and expand marketing. The plan details the restaurant's mission to provide excellent food and service. It will feature indoor and outdoor seating with a unique Indian design. The menu will focus on dosas and other South Indian cuisine. The plan analyzes the target market and identifies competitors. It proposes strategies for marketing, sales, management, hiring staff, and financial projections.
This document provides an overview of different types of entrepreneurial ventures including private companies, social enterprises, size (micro, small, medium, large), and public corporate ventures. Examples are given for each type, such as PT Tirta Alam Semesta for a private limited company and Bank Mandiri for a public corporate. The objectives of each type are also outlined, for instance profit maximization for private companies and customer loyalty for medium sized businesses. Corporate, technical and social types of entrepreneurship are briefly introduced at the end.
This lecture discusses different types of entrepreneurial ventures including:
- Ventures based on business structure (social enterprise, private limited enterprise, public limited enterprise)
- Ventures based on size (micro, small, medium, large enterprises)
- Ventures based on ownership (public vs private corporations)
It also examines the relationship between different typologies of entrepreneurship (corporate, technology, social) and entrepreneurial ventures. Finally, it provides data showing that over 99% of businesses in Indonesia are SMEs, with limited growth from 2012-2017, posing challenges for the economy.
This document discusses key concepts relating to business and the business environment, including:
1) It outlines different types of organizations (e.g. sole trader, partnership, private/public limited companies), sizes of organizations (e.g. micro, small, medium, large), and the scope and legal structures of businesses.
2) It examines the functions within an organization like marketing, finance, operations, and HR, and how they are related and link to organizational structure.
3) It covers other important business topics such as objectives, stakeholders, market share, profit sharing, growth, sustainability, and the influence of market forces/the economy on businesses.
Entrepreneurship, introduction to entrepreneurship, definition of entrepreneu...Jorge Saguinsin
Introduction to basics of Entrepreneurship covers topics such as social entrepreneurship, business entrepreneurship and various masteries needed. The subject matter covers examples from the Philippines. This a compilation of various learnings from various references. These slides are lectures at Agsb entrepreneurship elective and have been uploaded for the access and convenience of present and past students of the said elective
Procter & Gamble provides an overview of its corporate purpose, values, and principles. The company's purpose is to provide branded products and services of superior quality and value that improve lives. Its values center around attracting and developing top talent. The document also outlines P&G's history and operations in India, including its focus on sustainability and community development. It describes the company's human resources approach, which emphasizes training, development, and performance management to promote from within.
The Mayo Clinic is a non-profit medical group based in Rochester, Minnesota that employs over 50,000 staff. It was founded over 100 years ago by William and Charles Mayo and pioneered the concept of a medical group practice. Mayo Clinic is recognized as a top-ranked hospital that specializes in complex care across many specialties such as cancer, heart disease, and urology. It prioritizes patient care and satisfaction above all else through a focus on team-based and integrated care.
We Care aims to connect customers in GoHana, Sonipat to reliable local professionals through their mobile apps and website for household services like cleaning, repairs, and caregiving. This provides an affordable single platform for services needed regularly. Their target audiences are working individuals, new families, single housewives, and seniors. Initially they will use messaging apps and later develop their own mobile app. No direct competitors exist in GoHana, though some operate in nearby New Delhi. Marketing will use pamphlets, contacts, and incentive offers. Funding comes from savings, loans, and borrowings to cover premises, technology, staffing and other startup costs.
This document provides a business plan for a Dosa restaurant. It outlines objectives to keep food costs below 35% of revenue and expand marketing. The plan details the restaurant's mission to provide excellent food and service. It will feature indoor and outdoor seating with a unique Indian design. The menu will focus on dosas and other South Indian cuisine. The plan analyzes the target market and identifies competitors. It proposes strategies for marketing, sales, management, hiring staff, and financial projections.
This document provides an overview of different types of entrepreneurial ventures including private companies, social enterprises, size (micro, small, medium, large), and public corporate ventures. Examples are given for each type, such as PT Tirta Alam Semesta for a private limited company and Bank Mandiri for a public corporate. The objectives of each type are also outlined, for instance profit maximization for private companies and customer loyalty for medium sized businesses. Corporate, technical and social types of entrepreneurship are briefly introduced at the end.
Tesco began as a small market stall in 1919 and has since expanded globally to become a leading retailer. With over 468,000 employees worldwide, motivating staff is important for Tesco's continued growth. Tesco utilizes several motivation theories including Maslow's hierarchy of needs, Herzberg's two-factor theory, equity theory, self-efficacy theory, and self-determination theory. Key motivation strategies include training programs, profit sharing, staff discounts, and emphasizing career growth. Tesco's vision focuses on earning customer, employee, and community trust which has contributed to its success.
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
Presentation on Corporate Entrepreneurship, its strategies. Intrapreneurship & Leaders of such culture in market. Case Study of Google and its successful products and innovations.
This document provides a literature review on strategies for entrepreneurship development in Bangladesh by unleashing the potential of small and medium enterprises (SMEs). It discusses how SMEs play an important role in employment generation and economic growth. While SMEs in Bangladesh employ many workers, they have not fulfilled their potential to foster entrepreneurship and industrialization. The document reviews global evidence on the relationship between SME development and GDP, and how SMEs can contribute to poverty alleviation. However, SMEs in Bangladesh have performed poorly in terms of growth, diversity and market expansion. The document suggests analyzing successful entrepreneurs and policies to provide recommendations for developing the SME sector in Bangladesh.
Tesco is the biggest retailer in UK now. Having operations in 14 countries with 2,291 stores spread globally, Tesco employs 296,000 people. Now their focus is on “Creating value for customers, to earn their lifetime loyalty” and strives to “be energetic, be innovative and be the first for the customer”. So the 21st customer has taken a great leap over “pile high, sell it cheap “strategy and demanding nature of the customer has forced Tesco to continuously improve
The Blue Stars group presented on Walton Hi-Tech Industries Limited, one of the largest electronics and home appliances manufacturers in Bangladesh. The 3-member group discussed Walton's profile, products, market segmentation and targeting, positioning, competitors, and marketing channels. Walton produces refrigerators, TVs, phones, motorcycles, generators and other electronics and focuses on the local Bangladeshi market but also exports to other countries in South Asia, Africa, and the Middle East. The group recommended ways for Walton to improve such as using more billboards, product placement, social media marketing, and focusing on quality to better compete against other brands.
This document provides an overview of international marketing. It defines international marketing and discusses how the marketing environment differs internationally from domestic markets due to factors like competition, regulations, culture, and politics. It also outlines various stages of international marketing involvement, from no direct foreign marketing to global marketing. Additionally, it discusses challenges like self-reference criterion and ethnocentrism that marketers must overcome to effectively adapt to foreign cultures.
This presentation briefly tells you about the values on which Mayo Clinic operates and reasons which make it an outlier in the field of medical science, research and diagnosis.
This document summarizes a presentation about Enterprise Rent-A-Car's human resources management strategies. It discusses that Enterprise was established in 1957 in St. Louis and focuses on car rentals. It has expanded its market internationally and credits its core success to human resources strategies. Enterprise recruits college graduates from the bottom half of their class and prefers athletes and those involved in philanthropic activities. It promotes existing employees for higher positions. The presentation addresses whether these approaches could work for other industries and whether Enterprise's HR strategy faces any risks.
This talk was delivered on 15th September (Engineers Day) at BML Munjal University. It covers differences between invention, innovation, entrepreneurship, and startup. It discussed innovation landscape, types of innovation, and three important types of innovation in today's world. Innovator's method and innovators skills are also provided.
In Entrepreneurship section, who are entrepreneurs, types of entrepreneurs, entrepreneurial mindset and effectual thinking are discussed. Future of organization is discussed briefly along with why its necessary to learn entrepreneurship. Idea to launch (#flow_with_ramesh), why startup fails (#flow_with_ramesh), are you a startup kid? (#flow_with_ramesh) And challenges of entrepreneurship are discussed. In the end, what three interesting things you can do from learning, mentors, and work is discussed. Lastly, I describe my experiences with innovation and entrepreneurship is discussed.
This document provides an analysis of Unilever, a multinational consumer goods company. It includes an external analysis using PEST and five forces models identifying opportunities and threats. An internal analysis uses a resource audit and stakeholder analysis to identify core competencies. The document also discusses Unilever's diversification strategy, mergers and acquisitions history, and corporate social responsibility programs like the Unilever Sustainable Living Plan. It concludes with recommendations to strengthen Unilever's brand and improve quality and local preferences while maintaining competitiveness.
This case study is about a multinational company which sells ready to assemble furniture and home accessories. According to the economics records as at 2008 this is the world largest furniture retailer. (Forbes, 2013)
This report describes about the main strategies which IKEA use to approach to different markets with different consumers and with them IKEA has evolved into the largest furniture retailer in the world with approximately 300 stores in 38 countries and revenues topping $21.5 billion in 2009. Its top countries in terms of sales include Germany, 16 percent; United States, 11 percent; France, 10 percent; United Kingdom, 7 percent; and Italy, 7 percent. (Business week, 2005)
According to the final decision IKEA has made a different way of shop for furniture with the time develops and it has reach to the expectations of its customers according to their expectations.
Finally, in the conclusion of the report shows the final view of the researcher about the finding regarding to the IKEA strategies throughout the research and final judgment which make about the given case.
This document provides an overview of Edita Food Industries S.A.E., including its products, subsidiaries, locations, employees, stakeholders, competitors, and market share. Edita is one of the leading FMCG companies in Egypt and the Middle East, known for high quality products. It has over 5,400 employees across four production facilities. Key subsidiaries include Edita Confectionary, Chipita, Digma Trading, and ACTIS. Major competitors include Al Faysal Group, Faragallah Group, and Monginis Foods. Edita has the largest market share in Egypt's snacks market at 6%. The document also outlines Edita's mission, vision, values, and a competency framework
The document discusses different types of entrepreneurial ventures and the entrepreneurs suited for each. It categorizes ventures as revolutionary, niche, propagators of new technology, hustle/speculative deals ventures. For each type it provides the characteristics, examples, competencies and skills required of entrepreneurs pursuing each type of venture. It also provides sample exam questions related to understanding different types of entrepreneurs and competencies needed.
This document discusses various challenges and opportunities for organizational behavior (OB). It identifies responding to economic pressures, globalization, workforce diversity, quality/productivity, customer service, innovation, work-life balance, and ethics as key areas. OB focuses on issues like stress and decision-making during difficult times. Managing a diverse workforce and embracing differences are also emphasized. The document introduces an OB model with three levels of analysis: individual, group, and system levels.
Decisions of Operations Management
Goods and Service Design
Process and Capacity Design
Location Decisions
Layout Planning
Job Designing & Human Resource
Supply Chain Management
Material Requirement Planning And Inventory Control
Production Scheduling
Managing Quality
Maintenance Management
Developing Entrepreneurial Skills is Presentation part of Unit 9 Entrepreneurship and Small Business Management ESBM Assignment. For your own unique assignment please visit : https://topnotchresearch.org/services/
TLE 504 - Introduction to Entrepreneurship.pptxMendozaPatrice
There are people around the world who are unaware of their entrepreneurial potential. It is because, an entrepreneurial capacity is not innate in every person but has to be developed. Not all human being is born to become an entrepreneur or to engage in entrepreneurship. To become one of them, the education of a person should not be impeded or hindered by being financially-handicapped. It requires an initiative and the values of resourcefulness and self-determination. Through these, the person could find the opportunities for supports to develop his/her own competencies to think and innovate. These abilities can be noted on the persons that are not contented of what they do but, to keep on thinking. In fact, there are public servants who resign from government service and engage on entrepreneurial activities. They want to exploit their full potentials and became successful in business. Unlike in government service, it is in entrepreneurship where some people became successful in life. Because of their innovative, they could immediately implement what they thought and seek government supports when necessary. Entrepreneurship can be considered a national asset, and entrepreneurs are the drivers of that asset for any country. It is a dynamic process that not only increases wealth and but can also create value that results in improved well-being. It plays an important role in changing society, so it makes sense to cultivate, motivate, and remunerate this greatest asset to the greatest extent possible (Mohamed, 2020). Universities, being a brewing spot for knowledge spillover (Audretsch and Caiazza, 2016), are considered as an engine to improve economic growth by developing potential entrepreneurs (Lackéus, 2015; Ward et al., 2019). Entrepreneurial potential is a useful concept because not only it encompasses the degree in which an individual possesses entrepreneurial-related qualities, but also accounts for entrepreneurial intentions, or the state of mind of determination to act toward creating business. Intentions are particularly meaningful because they have a reasonably high prediction power of actual behavior (Krueger, 2017; Ward et al., 2019), and it is a good proxy to overview the short-term future of business activity. Hence, teachers are introduced to the concepts and theories of entrepreneurship, including some factors that drive entrepreneurship. While the topic requires more understanding, it is also necessary for the teachers that they be capacitated to become an entrepreneur as their additional tools in the delivery of service to communities.
Tesco began as a small market stall in 1919 and has since expanded globally to become a leading retailer. With over 468,000 employees worldwide, motivating staff is important for Tesco's continued growth. Tesco utilizes several motivation theories including Maslow's hierarchy of needs, Herzberg's two-factor theory, equity theory, self-efficacy theory, and self-determination theory. Key motivation strategies include training programs, profit sharing, staff discounts, and emphasizing career growth. Tesco's vision focuses on earning customer, employee, and community trust which has contributed to its success.
The Concept of Corporate Entrepreneurship - IntrapreneurshipGaurav Singh Bisen
Presentation on Corporate Entrepreneurship, its strategies. Intrapreneurship & Leaders of such culture in market. Case Study of Google and its successful products and innovations.
This document provides a literature review on strategies for entrepreneurship development in Bangladesh by unleashing the potential of small and medium enterprises (SMEs). It discusses how SMEs play an important role in employment generation and economic growth. While SMEs in Bangladesh employ many workers, they have not fulfilled their potential to foster entrepreneurship and industrialization. The document reviews global evidence on the relationship between SME development and GDP, and how SMEs can contribute to poverty alleviation. However, SMEs in Bangladesh have performed poorly in terms of growth, diversity and market expansion. The document suggests analyzing successful entrepreneurs and policies to provide recommendations for developing the SME sector in Bangladesh.
Tesco is the biggest retailer in UK now. Having operations in 14 countries with 2,291 stores spread globally, Tesco employs 296,000 people. Now their focus is on “Creating value for customers, to earn their lifetime loyalty” and strives to “be energetic, be innovative and be the first for the customer”. So the 21st customer has taken a great leap over “pile high, sell it cheap “strategy and demanding nature of the customer has forced Tesco to continuously improve
The Blue Stars group presented on Walton Hi-Tech Industries Limited, one of the largest electronics and home appliances manufacturers in Bangladesh. The 3-member group discussed Walton's profile, products, market segmentation and targeting, positioning, competitors, and marketing channels. Walton produces refrigerators, TVs, phones, motorcycles, generators and other electronics and focuses on the local Bangladeshi market but also exports to other countries in South Asia, Africa, and the Middle East. The group recommended ways for Walton to improve such as using more billboards, product placement, social media marketing, and focusing on quality to better compete against other brands.
This document provides an overview of international marketing. It defines international marketing and discusses how the marketing environment differs internationally from domestic markets due to factors like competition, regulations, culture, and politics. It also outlines various stages of international marketing involvement, from no direct foreign marketing to global marketing. Additionally, it discusses challenges like self-reference criterion and ethnocentrism that marketers must overcome to effectively adapt to foreign cultures.
This presentation briefly tells you about the values on which Mayo Clinic operates and reasons which make it an outlier in the field of medical science, research and diagnosis.
This document summarizes a presentation about Enterprise Rent-A-Car's human resources management strategies. It discusses that Enterprise was established in 1957 in St. Louis and focuses on car rentals. It has expanded its market internationally and credits its core success to human resources strategies. Enterprise recruits college graduates from the bottom half of their class and prefers athletes and those involved in philanthropic activities. It promotes existing employees for higher positions. The presentation addresses whether these approaches could work for other industries and whether Enterprise's HR strategy faces any risks.
This talk was delivered on 15th September (Engineers Day) at BML Munjal University. It covers differences between invention, innovation, entrepreneurship, and startup. It discussed innovation landscape, types of innovation, and three important types of innovation in today's world. Innovator's method and innovators skills are also provided.
In Entrepreneurship section, who are entrepreneurs, types of entrepreneurs, entrepreneurial mindset and effectual thinking are discussed. Future of organization is discussed briefly along with why its necessary to learn entrepreneurship. Idea to launch (#flow_with_ramesh), why startup fails (#flow_with_ramesh), are you a startup kid? (#flow_with_ramesh) And challenges of entrepreneurship are discussed. In the end, what three interesting things you can do from learning, mentors, and work is discussed. Lastly, I describe my experiences with innovation and entrepreneurship is discussed.
This document provides an analysis of Unilever, a multinational consumer goods company. It includes an external analysis using PEST and five forces models identifying opportunities and threats. An internal analysis uses a resource audit and stakeholder analysis to identify core competencies. The document also discusses Unilever's diversification strategy, mergers and acquisitions history, and corporate social responsibility programs like the Unilever Sustainable Living Plan. It concludes with recommendations to strengthen Unilever's brand and improve quality and local preferences while maintaining competitiveness.
This case study is about a multinational company which sells ready to assemble furniture and home accessories. According to the economics records as at 2008 this is the world largest furniture retailer. (Forbes, 2013)
This report describes about the main strategies which IKEA use to approach to different markets with different consumers and with them IKEA has evolved into the largest furniture retailer in the world with approximately 300 stores in 38 countries and revenues topping $21.5 billion in 2009. Its top countries in terms of sales include Germany, 16 percent; United States, 11 percent; France, 10 percent; United Kingdom, 7 percent; and Italy, 7 percent. (Business week, 2005)
According to the final decision IKEA has made a different way of shop for furniture with the time develops and it has reach to the expectations of its customers according to their expectations.
Finally, in the conclusion of the report shows the final view of the researcher about the finding regarding to the IKEA strategies throughout the research and final judgment which make about the given case.
This document provides an overview of Edita Food Industries S.A.E., including its products, subsidiaries, locations, employees, stakeholders, competitors, and market share. Edita is one of the leading FMCG companies in Egypt and the Middle East, known for high quality products. It has over 5,400 employees across four production facilities. Key subsidiaries include Edita Confectionary, Chipita, Digma Trading, and ACTIS. Major competitors include Al Faysal Group, Faragallah Group, and Monginis Foods. Edita has the largest market share in Egypt's snacks market at 6%. The document also outlines Edita's mission, vision, values, and a competency framework
The document discusses different types of entrepreneurial ventures and the entrepreneurs suited for each. It categorizes ventures as revolutionary, niche, propagators of new technology, hustle/speculative deals ventures. For each type it provides the characteristics, examples, competencies and skills required of entrepreneurs pursuing each type of venture. It also provides sample exam questions related to understanding different types of entrepreneurs and competencies needed.
This document discusses various challenges and opportunities for organizational behavior (OB). It identifies responding to economic pressures, globalization, workforce diversity, quality/productivity, customer service, innovation, work-life balance, and ethics as key areas. OB focuses on issues like stress and decision-making during difficult times. Managing a diverse workforce and embracing differences are also emphasized. The document introduces an OB model with three levels of analysis: individual, group, and system levels.
Decisions of Operations Management
Goods and Service Design
Process and Capacity Design
Location Decisions
Layout Planning
Job Designing & Human Resource
Supply Chain Management
Material Requirement Planning And Inventory Control
Production Scheduling
Managing Quality
Maintenance Management
Developing Entrepreneurial Skills is Presentation part of Unit 9 Entrepreneurship and Small Business Management ESBM Assignment. For your own unique assignment please visit : https://topnotchresearch.org/services/
TLE 504 - Introduction to Entrepreneurship.pptxMendozaPatrice
There are people around the world who are unaware of their entrepreneurial potential. It is because, an entrepreneurial capacity is not innate in every person but has to be developed. Not all human being is born to become an entrepreneur or to engage in entrepreneurship. To become one of them, the education of a person should not be impeded or hindered by being financially-handicapped. It requires an initiative and the values of resourcefulness and self-determination. Through these, the person could find the opportunities for supports to develop his/her own competencies to think and innovate. These abilities can be noted on the persons that are not contented of what they do but, to keep on thinking. In fact, there are public servants who resign from government service and engage on entrepreneurial activities. They want to exploit their full potentials and became successful in business. Unlike in government service, it is in entrepreneurship where some people became successful in life. Because of their innovative, they could immediately implement what they thought and seek government supports when necessary. Entrepreneurship can be considered a national asset, and entrepreneurs are the drivers of that asset for any country. It is a dynamic process that not only increases wealth and but can also create value that results in improved well-being. It plays an important role in changing society, so it makes sense to cultivate, motivate, and remunerate this greatest asset to the greatest extent possible (Mohamed, 2020). Universities, being a brewing spot for knowledge spillover (Audretsch and Caiazza, 2016), are considered as an engine to improve economic growth by developing potential entrepreneurs (Lackéus, 2015; Ward et al., 2019). Entrepreneurial potential is a useful concept because not only it encompasses the degree in which an individual possesses entrepreneurial-related qualities, but also accounts for entrepreneurial intentions, or the state of mind of determination to act toward creating business. Intentions are particularly meaningful because they have a reasonably high prediction power of actual behavior (Krueger, 2017; Ward et al., 2019), and it is a good proxy to overview the short-term future of business activity. Hence, teachers are introduced to the concepts and theories of entrepreneurship, including some factors that drive entrepreneurship. While the topic requires more understanding, it is also necessary for the teachers that they be capacitated to become an entrepreneur as their additional tools in the delivery of service to communities.
Concept of Entrepreneurship
Entrepreneurship is the ability and readiness to develop, organize and run a business
enterprise, along with any of its uncertainties in order to make a profit. The most prominent
example of entrepreneurship is the starting of new businesses.
What Is Entrepreneurship
In economics, entrepreneurship connected with land, labour, natural resources and capital
can generate a profit. The entrepreneurial vision is defined by discovery and risk-taking and
is an indispensable part of a nation’s capacity to succeed in an ever-changing and more
competitive global marketplace.
Meaning of Entrepreneur
The entrepreneur is defined as someone who has the ability and desire to establish,
administer and succeed in a startup venture along with risk entitled to it, to make profits. The
best example of entrepreneurship is the starting of a new business venture. The
entrepreneurs are often known as a source of new ideas or innovators, and bring new ideas
in the market by replacing old with a new invention.
It can be classified into small or home business to multinational companies. In economics, the
profits that an entrepreneur makes is with a combination of land, natural resources, labour
and capital.
In a nutshell, anyone who has the will and determination to start a new company and deals
with all the risks that go with it can become an Entrepreneur.
What are the 4 Types of Entrepreneurship?
It is classified into the following types:
Small Business EntrepreneurshipThese businesses are a hairdresser, grocery store, travel agent, consultant, carpenter,
plumber, electrician, etc. These people run or own their own business and hire family
members or local employee. For them, the profit would be able to feed their family and not
making 100 million business or taking over an industry. They fund their business by taking
small business loans or loans from friends and family.
Scalable Startup EntrepreneurshipThis start-up entrepreneur starts a business knowing that their vision can change the world.
They attract investors who think and encourage people who think out of the box. The research
focuses on a scalable business and experimental models, so, they hire the best and the
brightest employees. They require more venture capital to fuel and back their project or
business.
Large Company EntrepreneurshipThese huge companies have defined life-cycle. Most of these companies grow and sustain by
offering new and innovative products that revolve around their main products. The change in
technology, customer preferences, new competition, etc., build pressure for large companies
to create an innovative product and sell it to the new set of customers in the new market. To
cope with the rapid technological changes, the existing organisations either buy innovation
enterprises or attempt to construct the product internally.
Soci
what number of business models are there_.pdfRealtime action
The process of starting and running a business enterprise with the goal of making money is called entrepreneurship. It entails determining a market need, inventing a product or service to address that need, and developing a viable business plan. But did you know that entrepreneurship comes in a variety of forms? We shall examine the many forms of entrepreneurship and their traits in this blog article.
The document defines entrepreneurship and describes the characteristics and skills of successful entrepreneurs. It discusses different types of entrepreneurs, theories of entrepreneurship, and the entrepreneurship process. Some key points are: Entrepreneurship involves creating value and wealth through risk. Successful entrepreneurs are passionate, innovative, visionary, and able to take risks. The entrepreneurship process begins with idea generation and progresses through evaluation, planning, resource organization, and managing the enterprise.
This document discusses different types of entrepreneurial ventures and their characteristics. It begins by defining private companies, private limited companies, and providing an example. It then defines and gives an example of a public limited company. Next, it defines and gives an example of a social enterprise. It proceeds to discuss business size categories (micro, small, medium, large), providing definitions and examples for each. It then analyzes growth in MSMEs and large businesses from 2012-2017 based on data from the Ministry of Cooperatives and SMEs. Finally, it examines the relationships between entrepreneurial ventures and typologies of entrepreneurship.
This document provides an overview of entrepreneurship and entrepreneurs. It defines an entrepreneur as someone who starts and runs a business or organization, developing a business plan, obtaining financing, and hiring employees. Entrepreneurship involves innovation, risk-taking, and identifying market opportunities. Successful entrepreneurs often differentiate their ventures through innovation, product uniqueness, and focusing on niche markets. Government policies can encourage entrepreneurship and economic growth by supporting small businesses and creating incentives for new ventures.
This document provides an overview of different types of entrepreneurial ventures including private companies, social enterprises, sizes of businesses, typology of entrepreneurship, and public corporations. It defines each type and provides examples. It discusses the objectives and similarities/differences between private limited companies, public limited companies, and social enterprises. It also analyzes data on the growth of MSMEs and large businesses in Indonesia from 2012-2017, finding that MSMEs grew significantly while large businesses grew modestly and micro businesses saw the largest increases.
Here are the key differences between an entrepreneur and an intrapreneur:
- Origin of idea: An entrepreneur comes up with an original business idea and founds a company. An intrapreneur works within an existing company and comes up with innovative ideas to further the company's goals.
- Risk: An entrepreneur bears most of the risk if the business fails. An intrapreneur has less risk since they work within an established company with resources to support new ideas.
- Funding: An entrepreneur is responsible for securing funding, whether from personal savings, investors or loans. An intrapreneur has access to the company's resources and funding.
- Independence: An entrepreneur has full control and ownership over their business. An
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The document discusses the role of government in promoting entrepreneurship. It outlines various ways the government supports entrepreneurs, including providing financial assistance, training programs, marketing assistance, promotional schemes, credit facilities, and policies to support small and medium enterprises. The government aims to develop a culture of entrepreneurship through integrating it into education, encouraging risk-taking, and national campaigns.
This document discusses different types of entrepreneurship. It begins by defining entrepreneurship as starting and running a new business. It then discusses startups, including the typical requirements for starting a business. It outlines the main reasons people become entrepreneurs and considerations for what type of business to start. The document describes characteristics of entrepreneurs and four types of entrepreneurship: small business, scalable startups, large companies, and social entrepreneurship.
This is the first session of 3 consecutive sessions covering the Topics of Entrepreneurship and Small Business Management conducted for Pearson's BTEC in Business Management.
In this lecture we capture the essence of Entrepreneurship. Types of entrepreneurs and an emphasis on the concept of Social Entrepreneurship.
‘Let me tell you about the importance of Entrepreneurialism, and how vital it is to your success’ says Stephen Taylor, casually sipping on what just might be the world’s largest cup of coffee
The benefits of entrepreneurship extend beyond the businesses they establish. Entrepreneurs improve the lives of individuals and communities, as well as the overall economy. Entrepreneurs have been instrumental in spurring social change and improving the way people live and work. They help raise the standard of living for everyone by creating jobs and making products safer, less expensive, and more functional.
Module 2 becoming an entrepreneur class note 1AroobaIrfan
The document provides information about the Brands and Communities program which aims to help local entrepreneurs establish sustainable businesses that solve social, cultural, or environmental issues in their communities. It details the program's training courses which cover topics like entrepreneurship, business formation, and marketing. The program matches entrepreneurs with established global businesses and provides support until the entrepreneurs launch similar businesses in their local communities. The goal is for entrepreneurs to partner with successful companies and establish long-lasting businesses locally.
Discover the Types of EntrepreneurshipShawn Nutley
The document discusses different types of entrepreneurship. It begins by defining entrepreneurship as starting and managing one's own business with a focus on growth. It then describes four main types of entrepreneurship: 1) Small business entrepreneurs who start businesses with little capital. 2) Scalable start-ups whose founders have a unique product vision and seek investors. 3) Large company entrepreneurship where corporations invest in start-ups. 4) Social entrepreneurship where products address social issues. The document concludes that developing a business plan and market research can help boost the chances of success for any entrepreneurial venture.
Similar to Unit 9 entrepreneurship and small business management esbm assignment (20)
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This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
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Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
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at Integral University, Lucknow, 06.06.2024
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This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
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বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
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A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
2. Table of Contents
Introduction..................................................................................................................................... 1
PART A- Presentation .................................................................................................................... 2
Introduction................................................................................................................................. 3
Different types of an entrepreneurial venture and different types of entrepreneurship.............. 4
Similarities and differences between the different types of entrepreneurial venture.................. 6
The scope, development, and growth of different entrepreneurial ventures............................... 9
Investigate the scope, development, and growth of different entrepreneurial ventures in both the
public and corporate sector ....................................................................................................... 10
PART B- Report Section 1 ........................................................................................................... 12
Interpreting the data collected, assess the impact of micro and small businesses on the economy
................................................................................................................................................... 12
Explain the importance of business start-ups and small business to the social economy supported
by appropriate examples ........................................................................................................... 18
Evaluate the differences between small, medium, and large business and the contribution they
make to the different levels of the economy (local, regional, national and international) by
applying relevant data and statistics ......................................................................................... 19
Section 2- Understanding Entrepreneurs ...................................................................................... 21
Illustrate the characteristics and traits of entrepreneurship and the enterprises........................ 21
Explore different lines of arguments for entrepreneurial success and impacts of situational and
motivational factor.................................................................................................................... 22
Assess the relations among entrepreneurial personality, motivations and mindset.................. 23
3. Analyze how background and experiences hinder or foster entrepreneurship skills giving
contrasting examples critically providing their positive and negative influences on successful
entrepreneurship........................................................................................................................ 24
Conclusion .................................................................................................................................... 25
References..................................................................................................................................... 26
4. 1
Introduction
Entrepreneur generates new ideas and turns this new idea into a business organization.
Entrepreneurship creates new business organizations and plays a vital role in the economy of a
country. The entrepreneur brings innovative and creative product products to the market. Their
organization can be large or small. But every kind of organization contributes to the economy of a
country (Burns and Kippenberger, 2016). Entrepreneurship is increasing in the UK. Every year
almost 20 million job opportunities are created by small to the large organization in the UK. They
also contribute by 78% GDP in the economy of UK. This assignment will be discussed on the
various kind of entrepreneurial ventures, their contribution to the economy, and the impact of the
small, large, and medium organizations in the economy.
6. 3
Introduction
Entrepreneur venture refers to the kind of organization that focuses on the innovative and creative
idea and turn this idea into a business venture (Ubani, 2021). Entrepreneur venture like to take the
risk and deal with an unknown challenge. Entrepreneur venture looks forward to the growth of the
business and gains market share.
7. 4
Different types of entrepreneurial venture and different types of entrepreneurship
Entrepreneurs create different types of organizations based on their creative and innovative idea.
It also depends on the capital size, resource availability for creating an entrepreneurial venture.
The details are given below.
Small Business Entrepreneurship
Entrepreneur creates this type of business venture with limited capital and limited resources. They
don’t tend to turn their business organization turns into a large one. They don’t seek outside
business investors. The Entrepreneur invests capital in the business and manages their business on
their own. They get the full profit from the business and bear the full loss also. Liberis, Uinsure,
MyHRToolkit, etc. are an example of small business entrepreneurship in the UK.
Scalable Startup
This type of business venture relying on a fully new business idea. The entrepreneur generates a
creative and innovative idea from scratch and turns this idea into a business venture (Sahlman,
2019). Most of the time this kind of entrepreneurship looks for outside investors and various types
8. 5
of resources. This entrepreneurship wants to grow in the market and try to get the market share.
Example: Hassle.com, Sendmybag.com, Bizzby.
Large Company
Generally, this type of venture establishes by a known large company. The company can launch a
new business section in their organization with a new business idea. The company provides
necessary resources to the business section for launching the business idea successfully. Tesco,
Unilever, Glaxo Smith Kline create this type of business section in their organization.
Social Entrepreneurship
This type of business venture set up the entrepreneur for social wellbeing. Their main target is
solving a problem for society through their products (Jähnke, 2017). They don’t seek profit by
selling their products rather than they want to turn the world into a better place. Beam, Cracked It
is a social entrepreneurship venture in the UK.
9. 6
Similarities and differences between the different types of the entrepreneurial
venture
Similarities between the different types of the entrepreneurial venture
points Small Business
Entrepreneurship
Scalable Startup Large Company Social
Entrepreneurship
Products Earn profit by
selling products.
Earn profit by
selling fully new
creative
products.
Produced a wide
range of product
brand and sell
them.
Provide products
by fullfiling the
social needs.
Ownership Single
entrepreneur run
this venture.
Single or
multiple
entreprneurs run
this business
venture.
The shareholders
is the owners of
this business
ventures.
Single person or
an ogrnaization is
the owners of this
ind of business
venture.
10. 7
Contribution This business
venture
contribute in
GDP with small
amount.
This business
venture also
contribute in
business venture.
This business
venture generate
huge amount of
GDP and job
opportunity.
This business
venture contrinute
in social
responsibility.
Differences between the different types of the entrepreneurial venture
point Small Business
Entrepreneurship
Scalable
Startup
Large
Company
Social
Entrepreneurship
Objectives This type of
organization may
This type of
organization
This type of
organization
The main focus of
this kind of
11. 8
not have a specific
goal.
generates a new
kind of idea.
wants to gain
market share as
much as
possible.
organization is
social wellbeing.
Risk This business carries
a very low size risk.
Here the risk is
very high
because the
product is fully
new and the
investment is
very high.
In here the risk
is medium.
Because large
companies have
the financial
ability.
Here the risk is low
because they get
financial support
from the donator
and government.
Legal
structure
It mainly follows the
sole proprietorship
business structure
(Burns and
Dewhurst, 2016).
It establishes
corporations
and limited
partnerships.
It needs to deal
with a very
complex
structure. It may
be a private or
public
organization.
It established its
organization based
on the trustee.
12. 9
The scope, development, and growth of different entrepreneurial ventures
Scope
Organization objectives vary by ventures by ventures. Different kind of ventures selects a different
kind of objectives. For this reason, it also affects the scope. The entrepreneurial ventures generate
new ideas. Then they turn this idea into business ventures. So, they can earn profit and gain
sustainability in the market. Example: Small, large, medium, social business venture.
Development
The entrepreneurial ventures need or develop their business ideas and policy. They need to focus
on the investment and develop their products according to the demands and needs of the customers.
Example: Organizations are now mainitaing online page, website for interacting with the
custoemer directly. Because people are spending a lot of time in online.
Growth
The growth of entrepreneurial ventures is based on the quality of the products. The organization
can attract a huge number of customers by providing quality products and gain satisfaction from
13. 10
the customers (Teune, 2019). So, it can increase the profitability of the organization and grow the
organization. Example: The Unilever company expanding their bsuienss all over the world. The
rowing rate of business is very high.
Investigate the scope, development, and growth of different entrepreneurial ventures
in both the public and corporate sector
Public sector
The government manages this kind of organization. They invest a large amount of money in this
organization and provide a quality product to the customers. this type of organization doesn’t focus
on profitability (Bean and Hussey, 2018). In this sector the organization focus on social wellbeing.
Example: Water, electricity, Power, Public administration organization.
Corporate sector
In this sector, an individual or public company run their business. They prepare a marketing
strategy and deliver a quality product to the customers. Their main target is gaining profit from the
market and sustain in the business. Small business entrepreneurship, scalable entrepreneurship set
14. 11
up their organization in this sector. Example: Facebook, Unilevr, Proctor & Gamble, very kind of
private and sole proprietorship business venture.
ean . and ussey . . . th ed. ondon ublications.
urns . and e hurst . . . th ed.
ondon ac illan ducation i ited.
ähnke . . . th ed. iesbaden pringer
ach edien.
ahl an . . . th ed. oston ass. ar ard
usiness chool ress.
Teune . . . th ed. e bury ark alif. age ubl.
bani . . . nd ed. a ergne uke unna bani.
15. 12
PART B- Report Section 1
Interpreting the data collected, assess the impact of micro and small businesses on
the economy
Micro Business
Microbusiness is a small size of business. In this business there very few employments. Generally,
it has less than 10 employees. It invests with a small amount of capital and very limited resources.
The micro-business venture generally operates its business in the local area. Example: lawn and
landscaping companies, street vendors, carpenters
Small business
A small business refers to the sole proprietorship, partnership, or privately owned corporation.
This type of business can manage by the owners (Perman and Scouller, 2017). This type of
organization has less than 100 employees. The owner can get full profit or profit can be divided
between the partners or shareholders. Example: manufacturing and mining, wholesales, retail, and
service.
Impact of Microbusiness on the economy
The differences kind of impact of the micro-business on the economy of the UK and Canada is
given below.
16. 13
Figure 1: Number of employees in Canada (Campbell, 2018)
Figure 2: Number of employees in the UK (Mort, 2020)
From these statistics, it shows that Canada has more than 5 million micro business in the country
which is the 45% of total business. On the other hand, the UK has more than 6 million micro-
businesses which is 99% of total business.
17. 14
Figure 3: Business statistics in the UK (Mort, 2020)
Figure 4: Business statistics in Canada (Campbell, 2018)
18. 15
These statistics show that in the UK there are 1105 businesses can be found per 1000 residents.
Most of the businesses are in London 1134 business per 1000 resident. Northern Ireland has the
fewest businesses. They have 148 businesses per 1000 residents. In Canada there are 397
businesses can be found per 1000 residents.
Impact of Microbusiness on UK economy
IMPACT ON GDP: Microbusiness has a great impact on the GDP of the UK. More than 21% of
GDP comes from micro-businesses.
FOREIGN TRADE: In wales, micro-business earns 8.83% and per business, turnover is £452,287
in foreign trade. UK total earn £726,855 from per business.
REDUCING UNEMPLOYMENT: London earns the highest employee turnover. The amount is
£221,526 which earn by a single employee. The wales have the lowest employee turnover. The
amount is 110,219. In total UK a single person earn £199,658 in this industry.
INNOVATION AND GROWTH OF ECONOMY: In 2019 UK has 211,000 micro businesses.
But in 2020 it increases to 1.16 million micro-businesses.
ANY RELEVANT OTHER STATISTIC: The real estate sector is a fast-growing business. It
increases by 12.17% from 2019 to 2020. The micro business contribute in charities £20 billion in
2019. This industry also contribute in the environmental protection by giving £10.5 billion in
2020.
19. 16
Impact of Small business on the economy
Figure 5: Small business industry in the UK (Mort, 2020)
In 2020 UK has 4.5 million small businesses. 15% of a service business can be found here. The
retail business contributes 9% of the total business. This industry has a total of 79% employment
and 71% turnover in the overall business industry.
20. 17
Figure 6: Small business industry in Canada. (Campbell, 2018)
In Canada, the cultural industry has the largest amount of market share. It contains 10.6% of the
market share. The service and goods production industry contains 8.6% of the market share. The
lowest market share 2.9% contains the accommodation and food service industry.
Impact of small business on UK economy
IMPACT ON GDP: In 2020 the small business generates a total of £4.34 trillion for the economy
of the UK. Total 99.3% of business industry is in the sector.
21. 18
FOREIGN TRADE: The SME industry generates 30% foreign income. It generates £3.8 trillion
in the economy of the UK.
REDUCING UNEMPLOYMENT: In the UK total of 16.8 million employees are currently
working in the small business industry. Their turnover is £2.3 trillion.
INNOVATION AND GROWTH OF ECONOMY: The business with no employees is increasing
in the UK business industry. The growth in this industry is 93.9% since 2000.
ANY RELEVANT OTHER STATISTIC: In the UK in 2019 almost 390,000 new businesses birth.
But 25000 business venture also death in this year. In 2019 business birth rate was 13% and the
death rate was 11%. Ths small business contribute in charities and environmental protection
eventually £15 billion and £12 billiom in 2020.
Explain the importance of business start-ups and small business to the social
economy supported by appropriate examples
Define Social economy
The social economy is a section of the economy. It is also a part of social science. It focuses on
the relationship between social behavior and the economy. It indicates that how a social group
reacts within a society. It considers outside of the mainstream economy and environment.
The importance of small business
Turn over
The small business generates to generate a huge level of turnover for the UK economy. In 2018
small businesses generate £2.0 trillion turnovers for the UK economy (Brave, 2019). SME is
contributing 99% in the total business of the UK.
Employment figures
Small business is now creating a lot of job opportunities all over the UK. IT creates 16.3 million
job opportunities in 2019. 59% of the job is coming from this industry.
22. 19
Growth
The amount of small business is rising in the UK. Though BREXIT is a big issue for the UK,
appears that 50% of new business will start in 2021.
Evaluate the differences between small, medium, and large business and the
contribution they make to the different levels of the economy (local, regional,
national and international) by applying relevant data and statistics
Small business
It refers to the privately owned organization. This organization only can contain less than 500
employees and it can invest less than 20 million and generate up to 1 million turnovers from the
business.
Medium size business
This organization is larger than a small size organization. This business contains 500 to 2000
employees and invests less than 50 million. It also can generate less than 5 million in a year.
Large size business
The large organization contains at least 5000 employees and it generates 1.5 to 2 billion turnovers
in a single year. It is a very complex and potential business venture.
The differences among them
Small business Medium business Large business
The owner manages the
business.
Owners and professionals
manage the venture.
A professional person
manages the venture.
23. 20
Family member contains the
equity.
Equity held privately. Equity is held by the
shareholders (Banks, 2017).
Informal business structure Informal and formal combine Formal business structure
Limited growth Growth is faster than SME. The growth rate is excessive.
The business operates in a
specific area
Businesses can expand in
many regions.
Business expands in many
markets.
Contribution of the businesses
Local economy
Business organizations hire people from the local area. So, it can reduce unemployment. The
business hires low-skilled people with low salaries. In the UK business organization creates more
than 25 million job opportunities every year.
Regional economy
Business organizations launch new kinds of products by using the creative idea. It can solve
problems for a specific region. In UK, London and the southwest region launch 1015 businesses
per 1000 residents.
National economy
99% of the national GDP of the UK comes from business. It also generates 4.3 trillion turnovers
every year. The creative and innovative idea helps the economy of a country to grow rapidly.
International economy
UK business ventures are operating in other countries also. They are expanding their business all
over the world. In 2020 the UK get a 5.8 trillion turnover from foreign trade.
24. 21
Section 2- Understanding Entrepreneurs
Illustrate the characteristics and traits of entrepreneurship and the enterprises
local entrepreneur
Ishaan Malhi is a UK-based entrepreneur. He founded Trussle an online-based mortgage broker
agency. In 2015 he founded this company. It was the first online-based mortgage broker company.
His company uses the algorithm for finding out the best mortgage products for the clients. This
algorithm analyses more than 11000 products and 90 different lenders. His company is growing
very fast. His vision is to save 15 billion unnecessary payments for the customers. From this
discussion, it shows that Ishaan Malhi is a risk-taker. He is a knowledgeable and experienced
person. Because he has a bachelor’s degree in econo ics and orks in private and public mortgage
and real estate companies.
Global entrepreneur
Mark Zuckerberg is a USA-based entrepreneur. He is the founder of Facebook. He founded
Facebook in 2004.by using people can connect (Foley, 2017). People can share their thought.
Facebook has a net worth of $117.8 billion. For founding Facebook, he took a very big risk. He
excelled at his university for two years. But his determination keeps his going. He is also
innovative and creative. Because Facebook was a new idea in the world.
Social entrepreneur
Grameen bank is a world-renowned social enterprise. This bank was founded by DR. Muhammad
Younus in Bangladesh. For the Grameen bank, he won the Nobel peace prize in 2006. He found
this bank for the poor and rural people of Bangladesh. He is the inventor of microfinance. The
bank gives a small number of loans to poor people at a low cost. That’s hy the creditor can
develop their financial situation. Dr. Muhammad Younus was passionate about his job. He also
maintains business ethics and deals with the critical time for success. He also lead his company
and achieve to the mission of the organization. So, an entrepreneur should have the leadership
quality.
25. 22
Explore different lines of arguments for entrepreneurial success and impacts of
situational and motivational factor
The reason entrepreneurial get the success
Ishaan Malhi is getting success from his business venture. Mark Zuckerberg has already
established himself as a media magnet and successful entrepreneur all over the world. DR.
Muhammad Younus get the Nobel prize for his activities. the above discussion shows that they all
get success in their business sector. There is some reason for success.
Their strength
They know their strength. They know about what they know and how they can use their
knowledge. Ishaan Malhi knows economics and mortgage. So, he founded the mortgage business
venture. DR. Muhammad Younus was a student and professor of economics so he launches the
microfinance business. Mark Zuckerberg was a student of the IT section. So, he gets success in
the online business.
Acting
These entrepreneurs generate the idea from scratch. So, whenever they get the idea, they act
quickly. They didn’t ait for the anybody or right ti e (Cartwright, 2019). They work on their
idea and establish the idea eventually.
Focus
They don’t lose focus on their activities. They all face some critical time when they launch the
idea. Mark Zuckerberg was expelled from his university for his action. DR. Muhammad Younus
has no financial ability but still passionate about his idea. For this reason, they get success in the
end.
Situational and motivational factors impact their entrepreneurial success
To get success the entrepreneur needs to determine his activities and self-motivate themselves.
The entrepreneur generates a new idea. But they need to develop this idea to cope with the
26. 23
situational factor (Cartwright, 2019). To motivate themselves the entrepreneur, prepare a plan,
objectives, goals for their idea. When an entrepreneur finds out how they can implement their idea
in the business venture and how much they can return from their venture it helps them motivate
them. Bringing new products and self-recognition also works as a motivation factor for the
entrepreneurs.
Assess the relations among entrepreneurial personality, motivations, and mindset
Entrepreneurial personality impacts entrepreneurial motivation and entrepreneur’s
mindset.
A successful entrepreneur contains some specific personality traits. These traits have a huge impact
on motivation and mindset. The entrepreneur needs to energetic. He should turn his idea into action
as soon as possible. Otherwise, another business venture can start with the same business idea
which can demotivate him (Gordon, 2018). A cooperative person shares his thought with another
person and assist. By involving the activities, the person can get creative and innovative ideas. The
person should carry out his responsibility attentively. So that he can gain his mission and vision.
The person also should have emotional stability. It helps him to determine his objectives.
The relationship among entrepreneurial personality, motivations, and mindset.
The entrepreneurial personality trait, motivation, and mindset depend on each other. A confident
person can pursue his dream. Pursuing a dream motivates the person. A determined person can set
his mindset for a specific objective. To gain the objectives the person makes a plan, strategy, and
manages the activities of the plan. The entrepreneur not only works for money but also creates the
idea of self-recognition. It also helps the person to motivate himself. The organized person
prepares a detailed plan for his activities and performs the activities one by one. Mr. John is a
specialist in medicine. He is looking for set up a new business ventures. His business venture is
based on the online. Thorugh the online he can give treatment to the patient. By his treatment
people can recover from disease. So this can give him a mind satisfaction. For this reason. It
motivates him to continue the business venture.
27. 24
Analyze how background and experiences hinder or foster entrepreneurship skills
giving contrasting examples critically providing their positive and negative
influences on successful entrepreneurship.
Examine two examples of entrepreneurs where family background, educational background,
or experience helped them to become an entrepreneur
From the mentioned entrepreneurs they all get success by implementing their ideas. But they
generate the idea and get resources for implementing the idea from various sources. These sources
are known as family background, educational background, and experience.
If we look at Ishaan Malhi, we can see he has Bachelor’s degree in Economics from Bristol
University. He was also practicing an entrepreneur idea before. He also works as an employee in
15 different mortgage and real estate company in all over Europe. So, he gets the theoretical
knowledge from his achelor’s degree and practical knowledge from work life. For this reason,
he launches a successful business venture.
On the other hand, Dr. Muhammad Younus come from a third-world country. At that Bangladesh
was a very poor country. He also came from a very poor family. So, he knows the financial
struggle. He gets his bachelor's and master's degrees in economics from Dhaka University and
Middle Tennessee State University. He was also a professor of economics. So, it clearly shows
that his early life struggle, work experience, and education motivate him to launch microfinance.
Two examples of entrepreneurs where family background, educational background or
experience hindered or failed them to become an entrepreneur.
MR. Robinson comes from a rich family and gets an education from the IT section. He knows the
software, hardware, and online. But he has no work experience. He tries to set up an IT firm. He
has all the resources because of his financial ability. ut he didn’t get success. ecause of lack of
work experience. His education only helps him to launch the business but it didn’t gi e the
knowledge of how he can manage the business.
Mr. Jack comes from a middle-class family. He gets a diploma in law. He also works in the various
law firm. He has the experience how to handle a case. For this reason, he starts an online law firm.
28. 25
He suggests to the clients online. But he fails to continue the business due to a lack of resources.
is financial capability asn’t good so he couldn’t gather the essential resources. So, he fails in
the business.
Conclusion
The small business is the backbone of the economy in the UK. Every year new kinds of business
startups are establishing in the UK. Small business is creating a lot of job opportunities. They
generate a huge amount of turnover for the economy (Burns and Kippenberger, 2016). The small
business also contributing to the GDP of the UK. They are generating turnover in and outside of
the UK. The entrepreneurs start a new business with their creative idea. They launch new business
ventures by small, medium, or large size. The government needs to focus on the business industry
so much. Every year so many organizations lose their business venture due to proper assistance.
So, the UK government gives some extra benefit to the business ventures.
29. 26
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