Reference no: EM132675490

ASSIGNMENT

Assignment Context and Scenario:

You have been approached by a growing UK-based small business enterprise of your choice to help them introduce a new business/branch in the UK with an objective to diversifying products and services as part of innovation.

You are required to write a report on exploring the range of venture types which are of entrepreneurial. You need to assess the impact of the proposed business in the local and national economy. You are to identify the key aspects of an entrepreneurial mindset after a thorough assessment. You are also required to identify the environmental factors and examine how those factors foster or obstruct entrepreneurship. This report should be submitted to the manager of your chosen small business enterprise.

What you must do

The following tasks are required to be carried out:

LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial.
Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship.
To achieve M/, you should investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both public and corporate sector.
To achieve Di you should critically examine the scope, development and growth of entrepreneurial ventures.
Explore the similarities and differences between entrepreneurial ventures.

LO2 Assess the impact of small business on the economy.
Interpret and assess relevant data and statistics to illustrate how micro and small business impact on the economy.
Explain the importance of small businesses and business starts-ups to the growth of social economy.

LO3 Determine and assess the key aspects of an entrepreneurial mindset.
Determine the characteristic traits and skills of successful entrepreneurs that differentiate them from other business managers.
To achieve M3, you should explore and examine different lines of argument relating to entrepreneurial characteristics.
To achieve D3, you should analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples.
Assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial motivation and mindset.

LO4 Examine the different environments that foster or hinder entrepreneurship.
Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship.
To achieve M4, you should analyse the link between entrepreneurial characteristics and the influence of personal background and experience to specific successful entrepreneurs.

To achieve D4, you should critically evaluate how background and experience influences entrepreneurs, both positively and negatively, by comparing and contrasting examples.