PROGRAMME : Higher National Certificate/Diploma in Business.UNIT NUMBER : 09UNIT NAME : Entrepreneurship and Small Business ManagementSTUDENT NAME : Mayuri MaliTUTOR NAME : Mr. Anish A. DesaiCENTER : Thane BATCH : 2018-20INTRODUCTION : Here by I am Mayuri Mali here is to support my line manager have to prepare a report of the council primarily assists prospective entrepreneurs and start-up ventures to prepare to become successful entrepreneurs. My role is to contribute to development of resources used by my line manager, who makes presentation and issues publications on the subject, using the tasks given below : So, Now first I have to understand the scoping and defining entrepreneurship, then I have to understand the typology of entrepreneurship and social enterprise.
ENTREPRENEURSHIP : An entrepreneur is an individual who starts and runs a business with restricted resources and coming up with taking account of all the risks and rewards of his or her business venture. The business plan is typically a brand new innovation, product or service, instead of associate existing business model.
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Such entrepreneurial ventures target high returns, with high level of uncertainty. The entrepreneur has no problem to place his or her money security and career at stake to take unlimited risks on an inspiration, spending time still as capital on associate uncertain venture.INTRAPRENEURSHIP : Intrapreneurship is like entrepreneur in a bugger organization. They are usually highly self-motivated, Proactive and action-oriented people who easily take decision or initiative of their own, even within the boundaries of an organization, to take innovative products or service. The most important thing is that intrapreneur is in comfort zone because he/she believes that failure does not have any personal cost as it is the same for an entrepreneur because organizational will recover the loss arising from failure. An intrapreneur always focuses on the specific issues and his area is to comprise the process of the company rather than the whole business. The specific issues can be requires skills directly or increasing productivity etc. An intrapreneur has the ability to drive some innovative stages for s4erving a better situation for the organization through serving goods and services. Intrapreneurs love freedom and the characteristics foster autonomy independency within themselves. They are basically efficient in developing workflow charts and they car visualize the upcoming competition towards the company and how to mitigate them with a full swing.MANAGERIAL : The individual within the organizational manages people to make the work done is called managerial work force. They are basically paid employees who have the authority to take any changes within the organization with prior approval. They are also very tactical in nature and always in a hurry to manage others or subordinates. They are basically responsible for the day to day activities. If there is no innovative ideas come from their side in seems to be okay because, they are in the organization for the regular job done, They can think how to make others efficient and how to relate one thing with another etc.SOCIAL ENTREPRENEURSHIP : Social entrepreneurship means the tehniques through which companies are started up and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues. This concept may differ organization to organization with different sizes, aims and beliefs. EXAMPLE : Grammen Bank can be an example of social Entrepreneurship. LIFESTYLE ENTREPRENEURSHIP : An individual who creates a business not for the profit earning purpose rather for the purpose of altering lifestyle is called life style Entrepreneurship. Actually a life style entrepreneur focus more on the life reward and sometimes in business he/she does good as he/she is doing as per his/her passion.EXAMPLE : Elizabeth in EG solution PLC is a lifestyle entrepreneur as she was conducting business with her passion.Differernce Between Social and Lifestyle Entrepreneurship :Topic Social Entrepreneurship lifestyle EntrepreneurshipInvestment Social Entrepreneurship seeks investors because the entrepreneur has a goal to expand his/her business from the first stage and for that he/she needs investors to invest money within the organization. lifestyle Entrepreneur does not seek investor as they operate their business with their own money.Exit Strategy Social Entrepreneur always has an exit strategy. lifestyle Entrepreneur does not has any exit plan as they run their business with passion.Location Social Entrepreneurs are limited in locations lifestyle Entrepreneur is not limited with their location as they conduct business as they like.Profit Seeking Social Entrepreneur always seeks profit. Because in case of failure, the entrepreneur will not sustain in the market. lifestyle Entrepreneur does not run after profit as they run their business not for profit purpose rather for lifestyle purpose.