Economics-QA45

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Different Types of Entrepreneurial Venture and Economic Impacts of Small Businesses.

 

Scenario
 
You currently work for a consultancy firm that provides advice and market intelligence to small businesses and entrepreneurs. As part of updating their data base you have been tasked with investigating different types of ventures and their impact upon the economy. This is a mini research project that is based on a range of different examples, one of which should be a local business.
 
You should choose one example of each type of entrepreneurship, at least one of which should be a local business. You must describe and compare different environments for each of your examples and evaluate their impact on the economy at different levels. 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.
 
As a starting point, you decided to arrange a presentation to explain different types of entrepreneurial venture and economic impacts of small businesses (Task 1 and 2).
 
Task 1: Explore and Illustrate the Range of Venture Types that Might be Considered Entrepreneurial (LO1: P1, P2, M1 & D1).
 
In order to achieve PASS in this task, you must answer the following
 
1.1 Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship (P1).
1.2 Explore the similarities and differences between entrepreneurial ventures (P2).
 

In order to achieve MERIT in this task you must answer the following
 

1.3 Investigate a diverse range of entrepreneurial ventures to demonstrate an understanding of entrepreneurship in both the public and corporate sector (M1).
 
In order to achieve DISTINCTION in this task you must answer the following
 
1.4 Critically examine the scope, development and growth of entrepreneurial ventures (D1).
 
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Task 2: Assess the Impact of Small Businesses on the Economy (LO2: P3, P4, M2 & D2).
 
In order to achieve PASS in this task, you must answer the following
 
2.1 Interpret and assess relevant data and statistics to illustrate how micro and small businesses impact on the economy (P3).
2.2 Explain the importance of small businesses and business start-ups to the growth of the social economy (P4).
 
In order to achieve MERIT in this task you must answer the following
 
2.3 Evaluate the differences that small, medium and large businesses make to the economy, applying relevant data and statistics (M2).
 

In order to achieve DISTINCTION in this task you must answer the following
 

2.4 Critically examine how small businesses have an impact on different levels of the economy in a local, regional, national and international context (D2).
 
Guideline for Preparing Presentation and Submission
 
• You need to carry out a 15-20 minutes oral presentation in front of your classmates.
• The presentation should be illustrated by PowerPoint slides or other appropriate media.
• PowerPoint slides should be accompanied by speaker’s notes.
• Your response to the questions need to be underpinned by Module contents.
• You must complete your class presentation before the deadline for submitting the slides in the Model. Ideally, you are expected to carry out class presentation in week.
• For submission, please save your document with a unique name. Use the following style: [Your Surname]_[Your First Name]_[Unit Code]_[Assignment Number]. For example: Bennett_Tiffany_HNBS 309_Assignment 1.
 
Entrepreneurial Mind-Set and Environments that Foster or Hinder Entrepreneurship
 
Scenario
In your role at the consultancy firm you have been asked to prepare a report for the annual Business Start-up Show in London.You report on ‘The Mind-set of the Entrepreneur and the environment ’. Your report should discuss the essential characteristics and traits of the entrepreneurs.
 
As entrepreneurs are highly motivated to achieve their goals against all the odds, your report should point out connection between their personality and motivational mind-set. Looking into the issue from the situational context you are also asked to explain how environment influences entrepreneurship;
 
Task 1: Determine and assess the key aspects of an entrepreneurial mind-set. (LO3: P5, P6, M3 & D3)
 
In order to achieve PASS in this task, you must answer the following
 
1.1 Determine the characteristic traits and skills of successful entrepreneurs that differentiate them from other business managers.
(P5).
1.2 P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and mind-set. (P6).
In order to achieve MERIT in this task you must answer the following
 
1.3 Explore and examine different lines of argument relating to entrepreneurial characteristics. (M3).
 
In order to achieve DISTINCTION in this task you must answer the following
 
1.4 Analyse the characteristic traits, skills and motivational drivers of successful entrepreneurs, supported by specific examples (D3)
 
Task 2: Examine the different environments that foster or hinder entrepreneurship. (LO4: P7, M4 & D4)
 
In order to achieve PASS in this task, you must answer the following
 
1.1 Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship. (P7).
 
In order to achieve MERIT in this task you must answer the following
 
1.2 Analyse the link between entrepreneurial characteristics and the influence of personal background and experience to specific successful entrepreneurs. (M4).
 
In order to achieve DISTINCTION in this task you must answer the following
 
1.3 Critically evaluate how background and experience influences entrepreneurs, both positively and negatively, by comparing and contrasting examples. (D4)
 
Guideline for preparing the report and Submission
 
• Use appropriate report format with an introduction at the beginning, main body with headings and sub-headings and conclusion at the end.
• A cover page, table of contents page, references list and bibliography would be at highest standard.
• Your response to the questions need to be underpinned by module contents.
• Please save your document with a unique name. Follow the following style: [Your Surname] _ [Your first name]_[Unit Code]_[Assignment Number]. For example: Bennett_Tiffany_HNBS 309_Assignment 2.
• The report might be written in 2000 – 2500 words.
 

Report Terms Explained

 
Explain: Clarify a topic by giving a detailed account as to how and why it occurs, or what is meant by the use of this term in a particular context. Your writing should have clarity so that complex procedures or sequences of events can be understood, defining key terms where appropriate, and be substantiated with relevant research.
 
Analyse/Critically Analyse: Break an issue into its constituent parts. Look in depth at each part using supporting arguments and evidence for and against as well as how these interrelate to one another.
 
Identify: Determine what the key points to be addressed are and implications thereof.
 
Evaluate/Critically Evaluate: Give your verdict as to what extent a statement or findings within a piece of research are true, or to what extent you agree with them. Provide evidence taken from a wide range of sources which both agree with and contradict an argument. Come to a final conclusion, basing your decision on what you judge to be the most important factors and justify how you have made your choice.
 
Product code:Economics-QA45
 
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