Reference no: EM132123726 , Length: 3500 Words

Entrepreneurship and Small Business Management Assignment - Entrepreneurship Consultancy Project

Learning outcomes -

• Explore and illustrate the range of venture types that might be considered entrepreneurial.
• Assess the impact of small businesses on the economy.
• Determine and assess the key aspects of an entrepreneurial mindset.
• Examine the different environments that foster or hinder entrepreneurship.

Aim of the assignment: This unit provides students with an understanding of the definition and scope of entrepreneurship and an understanding of the enablers and barriers to business start-up.

Students will learn about the influence of national culture and economy on entrepreneurship and will explore the personal characteristics of entrepreneurs and the impact of personal situational factors, including education and background. Students will also learn about the role and importance of small firms to the economy, and about social enterprise and the social economy. Students will also be expected to understand the balance of risk and reward in starting a new venture and they will investigate and reflect on their own entrepreneurial and enterprising characteristics. Examples of entrepreneurs and start-up organisations will be discussed and students will be expected to draw on local, personal and general knowledge together with their learning to be able to identify the characteristics of entrepreneurial ventures.

Scenario

You currently work for a small business consultancy firm that provides advice and support to small businesses and entrepreneurs under the local Council's Central Government small business investment initiative.

As part of the new initiative to spark off small business start-ups in and around London you have been tasked with investigating different types of ventures and their impact upon the London economy. This is a mini research project that is based on a range of different examples, one of which should be a local business.

You should choose one example of each type of entrepreneurship, at least one of which should be a local business. You must describe and compare different environments for each of your examples and evaluate their impact on the economy at different levels.

Primary research could be conducted for your choice of local business. Primary research may include the use of interviews, existing videos or questionnaires completed by practicing entrepreneurs.

Task 1 -

To present your findings you would need to prepare a business report that provides the information and present this to your colleagues.

Your report should include the following:

(a) An examination of three different types of entrepreneurial ventures with explanations as to how they relate to the typology of entrepreneurship.

(b) An exploration of the similarities and differences between these three entrepreneurial ventures.

(c) An interpretation and assessment of relevant data and statistics to illustrate how micro and small businesses impact on the economy.

(d) An explanation of the importance of small businesses and business start-ups to the growth of the social economy.

TASK 2 -

To continue to prepare a business report to furnish information on the key aspects of an entrepreneurial mindset, and also the different environments that foster or hinder entrepreneurship.

In your report, you are required to:

(e) Determine the traits and skills that differentiate successful entrepreneurs from other business managers.

(f) Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset.

(g) Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship.

Attachment:- Assignment File.rar