Unit 9 Entrepreneurship and Small Business Management in Business
Aim of Entrepreneurship and Small Business Management Assignment in Business Management
The main aim of Entrepreneurship and Small Business Management Assignment in Business Management is to identify the importance of small scale businesses and their impact on entrepreneurs. Students will understand the influences of the nation’s culture and the economy on entrepreneurship after understanding Entrepreneurship and Small Business Management Assignment in Business Assignment. The situational factors and the personal and situational factors that lead to entrepreneurship will be taken into account. A balance between risk and reward could be better understood, and this will help to reflect upon their own decisions in entrepreneurship and managing small scale enterprises. In addition to this, students will be able to identify the features of entrepreneurial ventures taking into account the local, personal and general knowledge altogether after understanding Unit 9 Entrepreneurship and Small Business Management in Business Management.
Learning outcomes of Entrepreneurship and Small Business Management Assignment in Business Management
LO1 Explore and illustrate the range of venture types that might be considered Entrepreneurial (make it H3)
After Understanding of Entrepreneurship and Small Business Management Assignment in Business Management understand the importance of social enterprise, the growth of social entrepreneurs, and the social economy. Entrepreneurship is the process of doing a business owned by a sole entrepreneur inherited through a family business or own initiative. Enterprises are owned by entrepreneurs who carry out entrepreneurial activities. There is a fundamental difference between serial entrepreneurs, intrapreneurs and owner-managers, and proper distinction can be made between the three. Entrepreneurship can corporate and public sector and the importance of small and medium-sized entrepreneurs needs to be well understood.
LO2 Assess the impact of small businesses on the economy
The ideas of entrepreneurship come from business-minded families and individuals whom other business entrepreneurs inspire. Creativity and innovation imply developing new ideas into the method or process. The primary sources of business ideas come from business-minded families and various social media websites. Businesses often protect intellectual rights. The types of businesses can be divided into the national, regional and local levels. The factors to be considered include size, turnover, profit rate, and innovation. There are international aspects of entrepreneurship that influence the start-up of a business in a significant way.
LO3 Determine and assess the key aspects of an entrepreneurial mindset
In order to understand the personal characteristics of entrepreneurship, it is necessary to research the personal traits of entrepreneurs and small scale businesses. The personal styles and situational factors such as family upbringing and differences in culture constitute the personal characteristics. With differences in skills on entrepreneurs, different entrepreneurial organizations can be distinguished.
LO4 Examine the different environments that foster or hinder entrepreneurship
Various factors influence the decision of business entrepreneurs to start a business. Entrepreneurship and Small Business Management Assignment in Business Management include
- the culture of the nation,
- personal background and education of the entrepreneurs,
- the traits of different entrepreneurs and the availability of financial instruments to the business starter.
The possible risks that arise due to the start-up of a business should be mitigated. The reward that a business generates can be politely accessed with the business growth.
Learning outcomes of Entrepreneurship and Small Business Management Assignment in Business Management 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 sectors.||D1 Critically examine the scope, development and growth of entrepreneurial ventures.|
|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 the economy|
P4 Explain 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.||D2 Critically evaluate how small businesses have an impact on different levels of the economy (local, regional, national) and in an international context.|
|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 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 on specific successful entrepreneurs.||D4 Critically analyse how background and experience influence entrepreneurs, both positively and negatively, by comparing and contrasting examples.|
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