We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Small Businesses are Entrepreneurship - Essay Example

Comments (0) Cite this document
Running Head: Small Businesses and Entrepreneurship Small Businesses and Entrepreneurship Small Businesses and Entrepreneurship Introduction There is great deal of literature present regarding small businesses and entrepreneurship in general…
Download full paperFile format: .doc, available for editing
Polish This Essay93.3% of users find it useful
Small Businesses are Entrepreneurship
Read TextPreview

Extract of sample
"Small Businesses are Entrepreneurship"

Download file to see previous pages The paper presents arguments in favor of this statement and attempts to explore various dimensions of this statement. Discussion To define, “entrepreneurship is the capacity and willingness to undertake conception, organization, and management of a productive venture with all attendant risks, while seeking profit as a reward” (Hatten, pp. 148-149, 2011). A glance at all other definitions of entrepreneurship will verify the fact that entrepreneurship, entrepreneur of entrepreneurial spirit is seen in line, primarily, with the elements of innovation and risk taking. Without any doubts, large sized companies and organizations create mechanisms and systems to diversify and decrease their risk over the period (Hatten, pp. 148-149, 2011) of time; however, small businesses are the ones that face great deal of uncertainty and ambiguity on a daily basis. Lack of abundant resources, limited funds, threat of competition, limited production capacity, narrow customer base, constraints in terms of conducting marketing research and others are factors that present challenges and risks to small business which are shared by almost all small businesses as well. Almost half of the new ventures and small businesses in UK and US fail in the first year, which is another proof and manifestation of the uncertainty that is faced by the small business and entrepreneurial ventures (Down, pp. 20-21, 2010). One can consider small businesses as examples of entrepreneurship because they share of the element of ‘need of constant innovation” with other entrepreneurial ventures. Important here to note is that this does not necessarily imply that large businesses can survive without innovation but the fact is that large businesses can delay innovation by using the other resources, competitive advantages and competencies at their disposal (Scarborough, Wilson & Zimmerer, pp. 41-42, 2010). When companies grow big, they develop a loyal customer base and develop other mechanisms to retain customers. Their buyers associate certain level of quality with them and at least, with certain products and services, the buyers face certain switching costs due to which may hold the customers with the company for a longer period (Bridge, O'Neill & Cromie, pp. 263, 2003). Furthermore, when companies grow big, they either outsource the tasks of innovation or create separate departments for the same, and provide them with enough funding to experiment and keep an eye on the changing market trends. In case of both small businesses and entrepreneurs, there are no separate departments for research and development but the owner and the employees themselves must take out the time for coming up with new ideas and testing them thus creating a unique challenge for them (Lee-Ross & Lashley, pp. 52-53, 2011). Not only that constant innovation is a difficult task for small businesses but also at the same time, they need innovation more desperately than large companies do. As mentioned earlier that large companies with their huge loyal customer base can survive in the market for quite some time since they have other factors to attract their customers; however, in case of small businesses and entrepreneurial ventures, innovation is all that they have to attract and retain their customers (Allen & Meyer, pp. 63-68, 2005). Most small businesses ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Small Businesses are Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.org/management/1438301-small-businesses-are-examples-of-entrepreneurship
(Small Businesses Are Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 Words)
“Small Businesses Are Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.org/management/1438301-small-businesses-are-examples-of-entrepreneurship.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Small Businesses
This paper addresses the importance of small scale businesses in contemporary market contexts and explains whether it would be worthwhile to set up a new small scale business. The major opportunities, problems and challenges that a business man may face in setting up a small business will be detailed and the ways to overcome the issues will be highlighted in the paper.
13 Pages(3250 words)Essay
Finance and Accounting Research Paper: Continuous Auditing
Systems find applications here significantly because they assist in testing controls, reviewing trends and analyzing patterns within digits of critical numeric fields. The automated tools utilized in this important exercise also help in the assurance provision on data related to finance, strategic management, organizational operations and compliance.
15 Pages(3750 words)Research Paper
Information Security Small Businesses
Information systems manage information in such a way that all business processes can be executed in an effective and efficient manner. Information and data might be related to the business processes of any organization or the buying trends of customers; such information has acquired significant relevance in the modern world as it gives greater power to the person who possesses it.
4 Pages(1000 words)Research Paper
How globalization affect small businesses
A small business is a business that is privately owned and has a small number of employees. Globally, globalization ahs affected the operation of many small businesses as they have made the m to change their operations and venture into markets (Go?gl, Hans-Joachim & Clemens 67).
5 Pages(1250 words)Essay
Entrepreneurship: Opening doors to small businesses in the United Kingdom
New ideas for products, new ways to provide services, new technologies, generally come, for the most part, from companies that have not yet been started. The minds behind Apple Computer did not start their work inside a comfortable, well-lit laboratory like their counterparts at IBM, but instead began building computers inside a garage.
12 Pages(3000 words)Essay
Global entrepreneurship small business
Three small businesses which can prove ideal international enterprises for small entrepreneurs are covered herein. Online shopping provides an excellent opportunity for small entrepreneurs to spread their business acumen across the globe. The availability of branded goods the World over enables supply of these to customers across the globe.
2 Pages(500 words)Essay
Entrepreneurship vs. Small Business
Cunningham, J.B. and J.Lischeron (1991) classify that in America the term entrepreneur was considered as the one who starts his own, new and small business, some thirty years ago, which still goes with many people even today. It is a creation of the newness, a satisfaction or a change in consumer demand that brings the term entrepreneur into focus.
19 Pages(4750 words)Essay
Entrepreneurship and Small Business
Small businesses also tend to be independently owned and are profit-oriented (Bartol and Martin 1998) and in doing so they make enormous social and economic contributions to their societies through a variety of factors. For instance, small businesses contribute to economic growth through the creation of new businesses (Bartol and Martin 1998) which increases the tax base for a country's economy through contributions.
9 Pages(2250 words)Essay
Entrepreneurship and Small Business Development
While others say that, the entrepreneurs who work with an initiative to solve any kind of social problems with their rendered services, are termed as ‘Social Entrepreneurs’. To be precise on the context, social entrepreneurship is still at a level not
16 Pages(4000 words)Essay
Should government invest in small businesses
Small businesses play an important role in the development of United Kingdom’s economy. About 52 percent of the United Kingdom’s GDP has been directly contributed by small businesses. It also contributes in generation of 58 percent private sector workforce. Small businesses lead to entrepreneurship as well as new innovations.
3 Pages(750 words)Essay
Let us find you another Essay on topic Small Businesses are Entrepreneurship for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us