Entrepreneurship and Small Business Management

Learning Outcomes:

LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial. L02 Assess the impact of small businesses on the economy.

ASSIGNMENT BRIEF

Scenario

You currently work as intern for a consultancy firm [named organisation/an organisation of your choice — your own place of work if appropriate], that provides advice and market intelligence to small businesses and entrepreneurs. As part of updating the new website you have been tasked with investigating different types of ventures and their impact upon the economy to put on a webpage. This is a mini research project that is based on a range of different examples, one of which should be a local business.

Task 1

You should choose one example of each type of entrepreneurship, at least one of which should be a local business. You must explore and compare different environments for each of your examples and evaluate their impact and importance on the economy at different levels. Make sure your work shows a critical examination to the scope, development and growth of entrepreneurial ventures.

You should include data and statistics to support your findings. 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. While working on this research ensure to see that you evaluate the differences between small, medium and large business and the contribution they make to the different levels of the economy (local, regional, national) economy by applying relevant data and statistics.

Second Section

L03 Determine and assess the key aspects of an entrepreneurial mindset.

L04 Examine the different environments that foster or hinder entrepreneurship

Scenario and activity:

Continuing from Assignment 1, in your role as an intern at the consultancy firm [named organisation/an organisation of your choice — your own place of work if appropriate] you have been asked to present as a keynote speaker at the annual Business Start-up Show in London. You are to present on 'The Mindset of the Entrepreneur'. Your presentation will be 10 minutes and will include the following:

Specific examples of entrepreneurs to illustrate the scope of entrepreneurship covering one local entrepreneur, one global entrepreneur and one social enterprise.

Exploration of their situational factors, similarities and differences.

Discussion on their shared entrepreneurial traits and characteristics. Ensure to see that you are able to differentiate them form other business managers.

Analysis of how background and experiences can either hinder or foster entrepreneurship, providing specific examples to support your line of argument.

Conclusions that are drawn from comparing the different entrepreneurs, their backgrounds and experience and the extent to which it has influenced them. Ensure to see that you can analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples.

D1 Critically examine the scope, development and growth of entrepreneurial ventures.

D2 Critically examine how small businesses have an impact on different levels of the economy (local, regional, national) and in an international context.

D3 Analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples.

D4 Critically evaluate how background and experience influences entrepreneurs, both positively and negatively, by comparing and contrasting examples.