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ASSIGNMENT SUBMISSION FORM

This sheet must be submitted with your assignment.

Failure to complete, sign and submit this form will result in a mark of ‘0’ for the assignment.

Student Name

Student ID

Assessor Name

Group No

Qualification

Pearson BTEC Higher National in Business(Management)

Unit Number & Unit Title

Unit 9 - Entrepreneurship and Small Business Management

Assignment Title

Entrepreneurship and Small Business Management

Date of Submission

Signature: ……………………………………… Date: ………………………………


ESBM

Introduction

(Briefly state the purpose of this unit and the knowledge expected to gain in completing the unit.)


Task 1

Q1 (P1+M1)

(P1) Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship.

(M1) Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both the public and corporate sector.

Entrepreneur:

(Explain who is an Entrepreneur / What is Entrepreneurship?)

Different entrepreneurial ventures:

Note for students: (Examine/ inspect thoroughly, entrepreneur ventures that fall in the categories below in order to determine their nature or condition. The examination would require inspection and examples from the categories below)

v “Creation and development of New Ventures of all types” (Meyer 2009)

v “Based on the Performance of business”

v “Emerging enterprises that May or may not grow, do or do not innovate” (Mitzberg 1989, Gartner 1990)

v “Firms that are innovative- High Tech firms” (Langlois 2007)

v “Any Established company, small size social venture , High growth firms” (Shane 2012; Ucbasran et.al 2001; Zahra 2014)

ü Any Established company

ü Small size social venture

ü Large size social venture

ü High growth firms


Ø Typology of entrepreneurships:

Note for students: (Briefly explain the typologies below)

v Survival Firms:

v Lifestyle Firms :

v Managed growth firms:

v Aggressive growth firms:

v Public sector entrepreneurships:

v Social enterprise:


How they relate to the Typology of entrepreneurships:

Note for students:

Please make sure you cover different type of ventures (minimum 3 to maximum 5 ventures) from both public and corporate sector. Additionally make sure you cover organisations that has profit motive (such as: Tesco, Apple, Facebook, Corner shop etc.) also organisations that has social motives (such as: NHS, funeral care etc).

Different entrepreneurial ventures

as defined by a variety of Authors

Examples in those categories

Sector

How they relate to the typology of entrepreneurships

Q2. Explore the similarities and differences between entrepreneurial ventures. P2

The similarities of the different ventures:

Note for students: Students need to cover 5- 6 similarities

You may take into consideration: (make sure explain in your own words)

Ø Strong-willed entrepreneur:

Ø Funding from some venture capitalist or investor

Ø Creative idea:

Ø Creating a Brand name

Ø Sustain against large businesses:

Ø Constant Innovation:

Ø Driving forces


The differences between the entrepreneurial ventures:

Note for students: Students should cover 5 – 8 differences

You may take into consideration: (make sure explain in your own words)

Survival

Life Style

Managed growth

Aggressive growth

Annual

growth Rate

Time Horizon

Managerial focus

Managerial style

Entrepreneur

orientation

Managerial skills

Technology

Investment

Exit approach

Source of finance

Organisation Structure

Economic motives

Reward


Q3. Interpret and assess relevant data and statistics to illustrate how micro and small businesses impact on the economy. - (P3)

Micro Business:

(Explain briefly)

Small Business:

(Explain briefly)

How micro and small businesses impact on the economy:

Note for students: (Collect data (on employment, turnover, assets, growth etc.) on micro and small businesses and demonstrate how they are impacting on the growth of the UK economy. For example, Students may collect relevant data about UK Small Business Statistics from the website below:

https://www.fsb.org.uk/media-centre/small-business-statistics )


Q4. Explain the importance of small businesses and business start-ups to the growth of the social economy. - (P4)

Social economy:

Importance of small businesses and business start-ups to the growth of the social economy:

Note for students: (Consider the role of small business organisations to the growth of the social economy. Briefly explain the topics below)

Ø Creation of employment

Ø Innovation

Ø Engage significant number of people including the from disadvantaged groups

Ø leading the way on diversity

Ø meeting social purpose

Ø Local improvement


Q5.

(i) Evaluate the differences small, medium and large businesses make to the economy, applying relevant data and statistics (M2).

Note for students:

  • Distinguish between small, medium and large size businesses.
  • Evaluate the contribution of each of them (small, medium, large) and support your argument with relevant data and statistics. (The contribution of small businesses towards the development of the economy may be greater than medium and large.)

(ii) Provide a critical examination of the impact of small business on different levels of the economy including local, regional, national and international. (D2)

Note for students:

  • Examine critically, the role small businesses play in the development of the

(i) Local economy

(ii) Regional economy

(iii) National economy

(iv) International economy

e.g. local needs, jobs, innovation, competition, national income.


Q6.

Critically examine the scope, development and growth of entrepreneurial ventures. (D1)

Note for students:

Assess in-depth how, micro and other small businesses have contributed towards

  • the growth and development of GDP,
  • number of small businesses created,
  • new products and brands,
  • technology and R&D investment,
  • innovations, social initiatives,
  • Capital attractions and investments etc.

Address how some of these factors mentioned above have made these entrepreneur ventures to increase and grown in size.


Reference:

Answered Same Day May 13, 2021 UNIT 9

Solution

Kuldeep answered on May 23 2021
147 Votes
ESBM
ESBM
ESBM
Contents
Introduction    2
Task 1    4
Q1 (P1+M1)    4
(P1) Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship.    4
(M1) Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both the public and corporate sector.    4
Task 2    9
Q2. Explore the similarities and differences between entrepreneurial ventures. P2    9
Task 3    11
Q3. Interpret and assess relevant data and statistics to illustrate how micro and small businesses impact on the economy. - (P3)    11
Task 4    15
Q4. Explain the importance of small businesses and business start-ups to the growth of the social economy. - (P4)    16
Task 5    19
Q5.    19
(i) Evaluate the differences small, medium and large businesses make to the economy, applying relevant data and statistics (M2).    19
(ii) Provide a critical examination of the impact of small business on different levels of the economy including local, regional, national and international. (D2)    21
References    25
Introduction
Entrepreneurship is the use of innovative skills to build and effectively run businesses. Through an appropriate reference to entrepreneurship, companies can easily improve performance and achieve impressive success. It has been noted that individuals may take risks by determining the morals of entrepreneurship. In order to better learn to admire this theme, Little India was chosen as a company. It is a small restaurant in India that provides a variety of facilities to its clients. A study will focus on the basic factors that a person must refer to when setting up a new business. The ability of an individual to be able can be strongly recommended in the same way to achieve the goal. Learning will describe the various parts of the environment that may affect business operations in a similar manner.
Task 1
Q1 (P1+M1)
(P1) Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship.
(M1) Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both the public and corporate sector.
A businessperson is such an individual who initially starts and runs a business with the resources and comes with all the rewards and risks of her or his business activities. Instead of connecting an existing business model, a business plan usually involves
and new renewal, service or product. These entrepreneurial undertakings aim high returns along with a high level of ambiguity. Entrepreneurs do not have the difficulty in holding on to the risk of unlimited risks on the security of their money and the motivation of their career, as well as to spend time as co-operative in the capital on uncertain activities.
Entrepreneurial: Under that person, it is focused on establishing the business with respect to restricted resources. This is about taking risks in getting business prizes. Businesses need to focus on various aspects to meet the key objectives and goals. Effective emphasis on important values ​​discussed after solving problems can be reasonably referenced and for various developments becomes a professional firm. Such a person's business is largely concerned with earning high returns on investment.
Intrapreneurship: This is considered to be a professional organization that works as per specific standards and is mainly devoted to a start-up (Asiedu, Freeman and Nti-Addae, 2012). Furthermore, it may be stated that the business firm methods depend on self-motivation, active and work-focused work. Innovations are known as the main aspects of practice which helps businesses succeed at the leading level. Think about the importance of important yards and solve problems and indicates the amazing element of success.
Managerial: It is an entrepreneurial study that focuses on the organization's management; effectively aims to ensure that people are guided to work. It enhances work ethic and helps work more efficiently. Because these responsibilities are allocated to ensure day-to-day activities, it effectively helps to meet standards.
Scale-able start-up: The organization of the movement is to be remembered as the center of the movement. • Due to the
illiance of operational ideas of such connections, it is strange to different rapport in the market. With the notable development and advancement of organizations, such affiliation will establish their market. The reason behind operational practices by offering innovative things and the organization is to make changes in the world (Bertoni, Martt, and Reverte, 2017).
Large company entrepreneurship: These companies are dependent on many parts. • Runs a movement which exposes a wide range of market trends. At the end of the day, it can be said that the estimated work on a large scale is being controlled in such institutions. Considering the progress of the relationship as an important aspect due to the reasons for the market being made.
· Typology of entrepreneurship:
Survival Firms: Give basic support for an entrepreneur as well as his family, whose existence can be slightly more than that of existence gradually. It is necessary for business investors to offer basic personal financing, when the cost is sprayed, that usually does not have the ability to re-invest in this project. Starting a business is usually necessary or induced by "push" components, and businesses are usually highly competitive, cost-based and primarily egg-printed markets.
Lifestyle Firms: Make available a relatively steady renewal flow for proprietors based on the business model capable of managing and managing the business. Competition in the domestic market is relatively moderate to maintain sustainability. Activities usually have pre-rehabilitation, usually, a place and employment-but are not, but do not find the growth of meaningful expansion (Breugst et al., 2011).
Managed growth firms: It is a practical business model and, over time, is seen in new products, regular access to new markets, expanded expansions of amenities, places, and stages, and the growth of a solid locale
and regain the development of the
and during this period. Cu
ent business development for continuous redistribution and continuous, however moderate regional progress in business
Aggressive growing firms: Referenced for Asgazelles, this is especially a technology-driven venture in which strong innovation capabilities that detect exponential development and is funded by the equity capital.
Public sector entrepreneurship: Social entrepreneurship means companies as well as other entrepreneurs who develop, fund and apply solutions to environmental, cultural or social issues. This notion can be different in organizations with different shapes, objectives, and beliefs.
Social enterprise: These types of business companies study a new study, which helps in achieving the objectives. The work has been largely prepared according to the social need because their main goal is to give benefits to the community through their services and products (Caliendo et al., 2015).
How they relate to the Typology of entrepreneurship:
    Different entrepreneurial ventures
as described by an assortment of Authors
    Examples in those groups
    Sector
    How they relate to the typology of entrepreneurship
    Intrapreneurship
    Tesco
    Corporate secto
    Under that person, it is focused on establishing business with respect to inadequate resources. This is about taking risks in getting business prizes. Businesses need to focus on various aspects to meet the key objectives and objectives. The grouping of entrepreneur matters is primarily dependent on the business model, product quality, and innovation.
    Intrapreneurship
    
Apple
    Corporate secto
    This is considered to be a professional organization that...
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