TNA67-Entrepreneurship and Small Business Management
Assignment Context And Scenario:
You are currently working for a consultancy firm that provides advice and market intelligence to small business and entrepreneurs. You have been approached by a client who wants to establish and run a small business enterprise in London. Your advice should help the client whether it it is feasible to establish the business or not.
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.
The Following Issues Are Required To Be Carried Out:
1. Explore And Illustrate The Range Of Venture Types That Might Be Considered Entrepreneurial.
Your client would like to know more about types of ventures, so you should examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship.
Your client has a vague idea of entrepreneurship. For his benefit, explore the similarities and differences between entrepreneurial ventures.
You should investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both public and corporate sector. You should also critically examine the scope, development and growth of entrepreneurial ventures.
Assignment Brief – Continued
2. Assess The Impact Of Small Business On The Economy.
Interpreting data is a major problem for some people. For the benefit of your client, you should interpret and assess relevant data and statistics to illustrate how micro and small business impact on the economy.
You are required to explain the importance of small businesses and business starts-ups to the growth of social economy.
To make your client fully aware of his desire to start a small business, you evaluate the differences small, medium and large businesses make to the economy. You should support your evaluation by applying relevant data and statistics. You should also critically examine how small businesses have an impact on different levels of the economy (local, regional and national) and at an international level.
3. Determine And Assess The Key Aspects Of An Entrepreneurial Mindset.
There are certain skills an entrepreneur should possess. For the benefit of your client, determine the characteristic traits and skills of successful entrepreneurs that differentiate them from other business managers. You should also assess how aspects of the entrepreneurial aspects personality reflect entrepreneurial motivation and mindset.
To widen your client’s knowledge, you should explore and examine different lines of argument relating to entrepreneurial characteristics. You should also analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples.
4. Examine The Different Environments That Foster Or Hinder Entrepreneurship.
To ensure that your client factors that affect entrepreneurship, you are required to examine, using relevant examples, how background and experience can hinder or foster entrepreneurship. You should analyse the link between entrepreneurial characteristics and the influence of personal background and experience to specific successful entrepreneurs. You should also critically evaluate how background and experience influences entrepreneurs, both positively and negatively, by comparing and contrasting examples.
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