Key aspects of an entrepreneurial mindset

Assignment Help Business Management

Reference no: EM131759551

Learning Outcomes

By the end of this unit a student will be able to:

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.

Essential Content

LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial

Scoping and defining entrepreneurship:

What is entrepreneurship? Defining entrepreneurship, entrepreneurial activity and enterprise.
The differences between serial entrepreneurs, intrapreneurs and ownermanagers.

The typology of entrepreneurship:

Lifestyle and growth firms. Entrepreneurship in a corporate or public sector context.
Roles and characteristics of micro, small and medium-sized organisations.

Social enterprise:

Understanding social enterprise, social entrepreneurs and the growth of the social economy.

LO2 Assess the impact of small businesses on the economy

Where entrepreneurial ideas come from:

Definitions of creativity and innovation.
The main sources of generating business and entrepreneurial ideas.
How businesses protect intellectual property rights.

The role and importance of small firms:

The number and type of small firms and their contribution to the economy at national, regional and local level.
Factors to consider: size, turnover, profit, rate of growth, innovation, sustainability and adaptability.
International aspects of entrepreneurship:

How international differences impact upon business start-up.

LO3 Determine and assess the key aspects of an entrepreneurial mindset

Entrepreneurial characteristics and mindset:

Research on personal characteristics of entrepreneurs and small business owners. Different lines of argument relating to characteristics of entrepreneurs such as are entrepreneurs born or made? Or can characteristics be learnt and adopted by anyone?

Skills set of the entrepreneur:

The types of skills that typify entrepreneurs and how these skills differentiate from other organisation managers.
Personal entrepreneurial tendency:

Entrepreneurial characteristics and situational factors in a personal context, including family upbringing, lifestyle, cultural differences and personal motivation and drivers.

LO4 Examine the different environments that foster or hinder entrepreneurship

The factors that influence the decision to start a business:

The range of factors that influence the choice to start-up a business, including personal background and education, national culture, economic circumstances and character traits.
The risks and rewards of business start-up:

The potential rewards of business start-up.
The risks and uncertainties of business start-up and how they can be mitigated.

Learning Outcomes and Assessment Criteria

LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial

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

P2 Explore the similarities and differences between entrepreneurial ventures.

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

LO2 Assess the impact of small businesses on the economy

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

P4Explain the importance of small businesses and business start-ups to the growth of the social economy.

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

LO3 Determine and assess the key aspects of an entrepreneurial mindset

P5 Determine the characteristic traits and skills of successful entrepreneurs that differentiate them from other business managers.

P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mindset.

M3 Explore and examine different lines of argument relating to entrepreneurial characteristics. D3 Analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples.

LO4 Examine the different environments that foster or hinder entrepreneurship

P7 Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship.

M4 Analyse the link between entrepreneurial characteristics and the influence of personal background and experience to specific successful entrepreneurs.

Reference no: EM131759551

Questions Cloud

Best combinations of resources to use : Some large hardware stores, such as Home Depot, boast of carrying as many as 20,000 different products in each store.

Which topics would you like to learn more : Which would you like to learn more about? Can we, as world citizens, solve some of the challenges that impact our society so strongly in these times?

What is the associated deadweight loss : How much profit can the monopolist generate with first-degree price discrimination if resale can be prevented? What is the associated deadweight loss.

Prepare a lease amortization table for given time period : On January 1, 2018, Dalton Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for Dalton to make annual payments.

Key aspects of an entrepreneurial mindset : Entrepreneurship and Small Business Management - Determine and assess the key aspects of an entrepreneurial mindset - different environments that foster

General ledger of tnt fireworks for the account balances : During January 2018, the following transactions occur: January 1. Purchase equipment for $20,400. The company estimates a residual value of $2,400.

Discuss how to classify these temporary tax differences : how to classify these temporary tax differences on her books at year-end. In your memo give FASB sources for her that validates

Benefits of international trade : In principle, the benefits of international trade to a country exceed the costs, no matter?whether the country is importing or exporting.

Values of hardware and software where this is achieved : Find the maximum profit for this business, and the values of hardware and software where this is achieved.

User Account

All Pages