EXPLORE AND ILLUSTRATE THE RANGE OF VENTURE TYPES THAT MIGHT BE CONSIDERED ENTRPRENEURIAL.

UNIT 09 ENTREPRENEURSHIP & SMALL BUSINESS MANAGEMENT - PEARSON BTEC HIGHER NATIONAL DIPLOMA IN BUSINESS

LO1 EXPLORE AND ILLUSTRATE THE RANGE OF VENTURE TYPES THAT MIGHT BE CONSIDERED ENTRPRENEURIAL.

LO2 ASSESS THE IMPACT OF SMALL BUSINESSES ON THE ECONOMY.

LO3 DETERMINE AND ASSESS THE KEY ASPECTS OF AN ENTREPRENEURIAL MINDSET.

LO4 EXAMINE THE DIFFERENT ENVIRONMENTS THAT FOSTER OR HINDER ENTREPRENEURSHIP.

Scenario

According to Global Entrepreneurship Monitor`s 2017-18 report, Pakistan lags in start-ups, with less than half the rate of early- stage entrepreneurial activity found in other factor-driven economies. Part of the problem is that most young people coming out of universities prefer searching for a job instead of exploring entrepreneurial career opportunities. Beside these facts, still many entrepreneurial ventures started up in recent years in technologies, food businesses, online shopping concepts, digital marketing, transportation services etc.

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs. It provides The freedom to pursue your own vision, the control and flexibility you have over your own time, the opportunity to learn and gain knowledge, the highs and lows of self- employment. The sense of pride and fulfilment in accomplishing things. A major disadvantage to being an entrepreneur is that it requires more work and longer hours than being an employee besides taking high risk to introduce new and innovate idea of product/service.

You will be required to conduct primary research on your choice of entrepreneurial venture and conduct primary and/or secondary research on different type of entrepreneurial ventures from the same industry. The research will aim to compare the different ventures within their different environments.

TASK 1

While developing a comprehensive report on your chosen entrepreneurship entity classify it as a specific type of entrepreneurial venture. Identify other local/international such set-ups in the country with the same product range but belonging to a different category of entrepreneurial ventures. Explain how they relate to the typology of entrepreneurship. Find similarities and differences between the selected entrepreneurial ventures. CLASSIFY DIFFERENT ENTREPRENEURSHIP VENTURES STUDIED ABOVE WHETHER BELONGING TO PUBLIC AND/OR PRIVATE SECTOR, AND IDENTIFY THE MAIN DIFFERENCES. PAKISTAN IS A DEVELOPING COUNTRY, CONDUCT AN INDEPTH ANALYSIS OF THE SCOPE, DEVELOPMENT AND GROWTH OF START-UPS IN PAKISTAN, BY LOOKING AT THE SUCCESS AND FAILURE RATE OF THE CONTEMPORARY START-UPS, INCLUDING THOSE DISCUSSED ABOVE AND BEYOND.

TASK 2

Successful entrepreneurs bring distinctive traits and skills into their start-ups. Conclude the traits, skills and resources of successful entrepreneurs that differentiate them from other managers. Consider factors like risk-taking attitude and aggressiveness of the entrepreneurs.

Apply these determined traits on the founder of yours selected entrepreneurship venture. Assess how aspects of entrepreneurial personality identified above reflect entrepreneurial motivation and mind-set. Discuss this further with reference to the entrepreneurs studied in task-1.

ADDITIONALLY, EXPLORE AND EXAMINE THE DIFFERENT LINES OF ARGUMENT RELATING TO ENTREPRENEURIAL CHARACTERISTICS, I.E. ARE LEADERS BORN OR MADE, OR CAN THESE TRAITS BE LEARNT BY ANYONE. CONDUCT A DEPTH ANALYSE THE TRAITS, SKILLS AND MOTIVATIONAL DRIVERS OF SUCCESSFUL.

ENTRPRENEURS, SUPPORTED BY SPECIFIC EXAMPLES IDENTIFIED PREVIOUSLY. FURTHER, Examine how background and experience can hinder or foster entrepreneurship. Support your account with examples from the stated industry and beyond, ANALYSE THE LINK BETWEEN ENTREPRENEURIAL CHARACTERISTICS AND THE INFLUENCE OF PERSONAL BACKGROUND AND EXPERIENCE TO SPECIFIC SUCCESSFUL ETREPRENEURS, INCLUDING BUT NOT RESTRICTED TO THE SELECTED INDUSTRY. AT THE END OF TASK-2, CRITICALLY EVALUATE HOW BACKGROUND AND EXPERIENCE INFLUENCES ENTREPRENEURS, BOTH POSITIVELY AND NEGATIVELY, BY COMPARING AND CONTRASTING EXAMPLES, INCLUDING BUT NOT RESTRICTED TO THE SELECTED INDUSTRY.

TASK 3
It is widely believed that entrepreneurship is beneficial for economic growth and development. Entrepreneurship has been remarkably resurgent over the past three decades in countries that have achieved substantial poverty reduction, such as China. Do a depth analysis and specify how do entrepreneurial ventures affect the country`s economy? Gather and analyse relevant data to assess such impact in Pakistan, and in other countries. Give examples of different entrepreneurships from different industries. How do small businesses and business start-ups affect the social economy? Identify any entrepreneurial ventures from the stated industry that form part of the social economy.