Student Assignment Covering Form

Course/Unit Information
Course Pearson BTEC Level 4 Higher National Diploma
Unit No. Unit 9
Unit Name Entrepreneurial Ventures
Unit code A/618/5047
Batch

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Full/ Part Assignment Full
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Date Assignment Due

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 Student Declaration

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 Learning Outcomes and Assessment Feedback

Assessor’s Name
Grades Awarded (P1, P2, P3,
Pass Merit Distinction P4, P5, P5, P7, M1, M2, M3,
M4, D1, D2, D3, D4)

LO1 Examine what it takes to be an entrepreneur and the scope of entrepreneurial ventures.

D1 Critically examine
P1 Investigate the scope M1 Evaluate the entrepreneurial ventures
of entrepreneurial similarities and the traits, characteristics and
ventures, using a variety differences between mindset associated with
of examples. entrepreneurial ventures entrepreneurship, using a
and the traits and range of examples.
P2 Examine the traits and characteristics of
characteristics associated entrepreneurs in those
with entrepreneurship ventures.

LO2 Explore the concept of the entrepreneurial mindset and its contribution to
entrepreneurial ventures

P3 Explain what is meant M2 Determine the

by an ‘entrepreneurial ways in which the
mindset’. entrepreneurial mindset
can be encouraged and
P4 Examine skills and what it can bring to a
characteristics associated new venture.
with an entrepreneurial
mindset.

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LO3. Assess the impact of SMEs (small medium enterprises) on the economy

P5 Interpret relevant data D2 Appraise impacts of

and statistics to relate how different businesses on
micro and small business different levels
ventures impact the (international, national,
economy at different regional, local) of the
levels. economy using appropriate
data and statistics.
M3 Using relevant data
and statistics, compare
the differences between
micro-, small-, medium-
and large business and
their impact on the
economy..

LO4 Explain the importance of intrapreneurship in both public and corporate organisations.

P6 Discuss the differences M4 Explore the benefits D3 Evaluate the use of

and similarities between of intrapreneurship and intrapreneurship and the
public and corporate its contribution to benefits it can bring to
intrapreneurship. competitive advantage organisations.
in organisations

[To Achieve a PASS, all P grade

descriptors should be achieved; To
achieve a MERIT, all P and M
grade descriptors should be
Over All Result/Grade achieved; To achieve a
DISTINCTION, all P, M and D
grade descriptors should be
achieved.]
Summative Feedback:

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Overall Feedback on current
work with emphasis on how
the student can improve and
achieve higher grades in
future.

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Assignment title Entrepreneurial Ventures, Its impact and scope.

Scenario:

A business incubator named The BIG-START in UAE is planning to hire a candidate who has
a good analytical mindset in the field of entrepreneurship. You have been shortlisted for the
interview and as per the interview guidelines you need to make a report considering the key
points:
1. Examine what it takes to be an entrepreneur and the scope of entrepreneurial ventures.
2. Explore the concept of the entrepreneurial mindset and its contribution to entrepreneurial
ventures.
3. Assess the impact of SMEs (small medium enterprises) on the economy.
4. Explain the importance of intrapreneurship in both public and corporate organisations.

The report should include the following:

1. Critically examine different types of entrepreneurial ventures, evaluate the similarities and
differences between the venture types and provide its scope.
2. Research a series of entrepreneurs to examine the traits, skills and characteristics associated with
entrepreneurial mindset using a variety of examples.
3. Determine the ways in which the entrepreneurial mindset can be encouraged and its contribution
to a new venture.
4. Compare the differences between micro, small, medium and large business and Appraise
impacts of these business on different levels (International,National,Regional,Local) of the
economy, interpret using appropriate data and statistics.
5. Explore and evaluate the use and benefits of intrapreneurship to the organizations.
6. Discuss the difference and similarities between public and corporate intrapreneurship.

The submission on the LMS is in the form of an individual written report. This should be written in a
concise, formal business style using single spacing and font size 12. You are required to make use of
headings, paragraphs and subsections as appropriate, and all work must be supported with research and
referenced using the Harvard referencing system. Please also provide a bibliography using the Harvard
Referencing System. The recommended word limit is 5000–6,500 words, although you will not be
penalized for exceeding the total word limit.

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 Scope of Entrepreneurial Ventures
enterprising advertising that can be perceived as 'promoting with an innovative outlook'.
By joining the meaning of advertising of the American Marketing Association (AMA) and
two conceptualizations of business venture (pioneering direction and enterprising
administration), we show up at a meaning of enterprising promoting as the hierarchical
capacity of showcasing by considering imaginativeness, risk taking, supportive of
animation and the quest for open doors without respect for the assets at present controlled.
This definition should not be confined to youthful and little endeavors, yet can similarly be
applied to bigger firms. We delineate the idea of pioneering advertising by featuring
guerrilla showcasing, buzz promoting and viral showcasing. (Sascha Kraus, 2009)
There is a need to reconsider and rethink the social worth added of pioneering exercises to
society. In this paper we foster five points of support on which the advancing social job of
business can rest and have its effect: (1) interfacing enterprising exercises to other cultural
endeavors pointed toward working on the personal satisfaction, accomplishing progress,
and enhancing human life, (2) distinguishing ways of diminishing the broken impacts of
pioneering exercises on partners, (3) rethinking the extent of innovative exercises as an
insightful field, (4) perceiving business' social multiplier, and (5) chasing after mixed
esteem at the authoritative level, centring on adjusting the making of monetary, social and
ecological abundance. In a last segment we examine suggestions for rehearses and for
additional exploration. (Shaker A. Zahra, 2015)
Traits and characteristics associated with entrepreneurship
There is a need to reconsider and rethink the social worth added of pioneering exercises
to society. In this paper we foster five points of support on which the advancing social
job of business can rest and have its effect: (1) interfacing enterprising exercises to other
cultural endeavors pointed toward working on the personal satisfaction, accomplishing
progress, and enhancing human life, (2) distinguishing ways of diminishing the broken
impacts of pioneering exercises on partners, (3) rethinking the extent of innovative
exercises as an insightful field, (4) perceiving business' social multiplier, and (5) chasing
after mixed esteem at the authoritative level, centring on adjusting the making of
monetary, social and ecological abundance. In a last segment we examine suggestions for
rehearses and for additional exploration. (Nader Seyed Amiri, 2012)
innovative tendency. Specifically, it tests whether innovative tendency is essentially
connected with specific mental, segment and family attributes. A self-controlled, fixed-
elective poll is managed to 200 business students in Hong Kong, bringing about a usable
reaction pace of 58.50per penny. Clear measurements, t-tests, Chi-square tests and probit
examination are utilized to dissect the information. By and large, the outcomes show that
pioneering tendency is altogether connected with mental, segment and family qualities.
Specifically, probit investigation results show that at a 0.05 degree of importance,
enterprising tendency is altogether connected with a more prominent requirement for
accomplishment, higher inclination to face challenge, more resilience of vagueness and
more noteworthy inventiveness. Innovative tendency is likewise fundamentally
connected with segment and family attributes like sex (male), birth request (first-
conceived) and family enterprising tendency. The probit model has a general holdout
exactness pace of 81.20 percent. (Koh, 1995)

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approach of human turn of events and utilizing the case of science-based business
thought age, the creators utilized primary condition demonstrating to test an intervention
model for foreseeing pioneering conduct in an example of German researchers (2
estimation events; Time 1, N= 488). It was observed that reviewed early pioneering
capability in immaturity anticipated business thought age. This connection was
interceded by enterprising human and social capital. Besides, an enterprising Big Five
profile was related with early innovative capability and anticipated pioneering human and
social capital. Results highlight the significance of the long-disregarded formative way to
deal with business venture (Martin Obschonka, 2012)
the different past writing on the investigation of business. It analyzes the useful jobs of
the business person in view of crafted by various past scientists. It then, at that point,
talks about the mental characteristics of the business visionary and the inspirational
elements for business venture. A worldview for the investigation of business venture is
proposed. (Chow-Hou Wee, 1994)
Entrepreneurial mindset
pioneering mentality' - portrayed by researchers as the capacity to detect, act, and prepare
under questionable circumstances. We center around metacognitive cycles that empower
the business visionary to think past or re-coordinate existing information designs and
heuristics, advancing versatile perceptions notwithstanding novel and questionable choice
settings. We incorporate different surges of writing from social and mental brain science
toward a model that indicates enterprising metacognition as arranged in the innovative
climate. We set that groundworks of a pioneering mentality are metacognitive in nature,
and in this manner detail how, and with what result, business visionaries plan and
illuminate "higher-request" mental procedures chasing innovative finishes. (J. Michael
Haynie, 2010)
Researchers have inspected different parts of the enterprising outlook, which have given
bits of knowledge into its ascribes, characteristics, and activities. Notwithstanding, the
alternate points of view have prompted a different exhibit of definitions. With the variety
of contrasting definitions, there emerges the need to all the more likely get the idea of a
pioneering attitude. In this manner, the inquiry stays regarding what precisely is the
pioneering outlook and how truly do individuals tap into it. In inspecting the writing, we
observe that three unmistakable angles have emerged as the years progressed: the
pioneering mental viewpoint how business visionaries utilize mental models to think; the
innovative conduct perspective how business people connect with or represent open
doors; and the enterprising passionate angles what business visionaries feel in business
venture. Involving those as a reason for our work, we disentangle the pioneering attitude
by inspecting further into the viewpoints and talk about the difficulties for carrying out it.
(Donald F. Kuratko, 2021)
Business understudies from a state funded college in roatia partook in a global
concentrate on innovative self‐efficacy, personality, and instruction. The aftereffects of
this fundamental observational examination show that the principle indicators of the
innovative expectations in roatia are strength of pioneering character yearning and
enterprising self‐efficacy. These two primary develops intervene the quantity of
individual, situational, or relevant variables, including training. Exact investigation
upholds most of ocial ognitive areer heory estimated communication between control
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factors and primary builds like self‐efficacy, positive result assumptions, and enterprising
personality. These discoveries subsequently fill the hole in the exact proof of the
hypothetical system legitimacy got from various settings. (Sanja Pfeifer, 2016)
Skills and characteristics associated with an entrepreneurial mindset
There has for some time been interest in the character qualities, inspirations, mentalities,
and ways of behaving that add to innovative status and achievement. Until now, in any
case, endeavors to quantify these builds have ordinarily continued in a piecemeal design.
This article portrays the improvement of another proportion of pioneering attitude the
Entrepreneurial Mindset Profile (EMP)- which tries to quantify them in a more exhaustive
manner. In a progression of 3 investigations, we depict the advancement of the instrument
and give proof to its psychometric ampleness and build legitimacy. True to form, business
people and corporate administrators contrasted altogether from each other on every one of
the EMP's 14 scales. Connections between the EMP scales and proportions of the Five
Factor Model designed to a great extent true to form, with Openness to Experience showing
the broadest and most grounded relationship with EMP scales. At last, the EMP aspect that
expressly surveys the capacity to think inventively (Idea Generation) was related with 2
unique execution proportions of different reasoning. In this manner, proof to date upholds
the view that the EMP is a substantial and solid proportion of innovative outlook. As well
as being a helpful instrument for research, the EMP can likewise be an important asset for
counseling clinicians. (Davis, 2016)
Business is a significant part of the U.S. also, worldwide economy. In that capacity,
fostering an innovative outlook is vital for both designing understudies and rehearsing
engineers. The reason for this paper is to examine the job of online conversations, as an
academic methodology, in the advancement of the enterprising mentality. Online
conversations prompts were created utilizing the Kern Engineering Entrepreneurial
Network (KEEN) structure as an aide. The KEEN structure proposes an innovative outlook
can be cultivated in understudies by invigorating interest, fortifying associations, and
making esteem. This paper portrays the strategy and reasoning that filled in as the
establishment for this exploratory review. Models are accommodated internet based
conversation prompts created and controlled in two different natural designing college
classes: Introduction to Environmental Engineering (three credit, undergrad, online course
presented during two different summer meetings) and Seminar in Environmental
Engineering (one credit, undergrad level, eye to eye course presented during one semester).
Quantitative and subjective strategies were utilized to examine and survey likely effects of
online conversation brief use. The discoveries give examples figured out how to
coordinating the KEEN system into undergrad designing courses through web-based
conversations. (Lisa Bosman, 2019)
Ways in which entrepreneurial mindset can be encouraged
It is undeniable the job of business as a driver of advancement and monetary turn of
events. The world is powerfully changing and seriously interconnected conveying new
moves and open doors to the new age of specialists working in reality as we know it
where advancement will keep on developing rapidly. This paper tends to the need to
prepare designing understudies to be innovative specialists considering the worldwide
difficulties and the job that advanced education foundations ought to play in fostering a
pioneering mentality among designing understudies. The paper presents and examines the
9
consequences of an overview completed in a Portuguese designing school with the
objective of explore understudies' enterprising mentalities. The primary goal is to
comprehend the degree by which business is tended to in understudies' designing projects
as well as understudies' view of their pioneering related abilities and the reasons that
would lead the understudies to begin or not start a business as well as their impression of
the capacity to begin a business right away. The consequences of the review are
fundamentally broke down considering the difficulties and open doors confronting future
architects. The work, albeit restricted to a particular setting is an important beginning
stage for extra examination and for the execution of workforce methodologies to further
develop business venture training. (Anon., 2020)
The motivation behind this paper is to give knowledge into the elements that impact the
outlook of youth in the United Arab Emirates (UAE) in picking business venture as their
future work. It likewise proposes the pathway to work on the job of the colleges as
essential drivers in actuating an enterprising attitude. (Fauzia Jabeen, 2017)
approach
A thorough writing survey of surviving examination followed by an exploratory review
was directed. Besides, to comprehend factors affecting the job of colleges, interpretive
primary demonstrating approach is applied to develop a progressive system based
relationship among the essential variables. (Fauzia Jabeen, 2017)
Discoveries
The aftereffects of exact examination recommend that youngsters in the UAE rank
business venture as their first work decision. Nonetheless, the vast majority of them have
not gone to any conventional business related course in school or in school. The
concentrate additionally recommends that individual and ecological elements impact the
enterprising attitude of the two guys and females in the UAE. The primary model created
in the review shows that to give a stimulus to the innovative mentality, the public
authority should establish a supporting climate with UAE colleges assuming the part of
an impetus. (Fauzia Jabeen, 2017)
Commonsense ramifications
Proficient business guidance is viewed as an essential apparatus to animate monetary and
cultural development. The outcomes could give experiences to both business venture
teachers and policymakers and will support their obligation to advance the pioneering
mentality inside UAE society by upgrading and creating attributes related with innovative
achievement. The outcomes support acknowledgment of the variables that actuate
instructive projects and monetary impetuses focused on at the improvement of practical
innovative culture and adventures in the UAE. (Fauzia Jabeen, 2017)
Innovation
The review is a work to feature the job of advanced education in visualizing and
developing business visionaries in a quickly developing agricultural nation through an
overview and an ordered progression based model. (Fauzia Jabeen, 2017)
Relevant data and statistics how micro and small business impact economy
Miniature and little undertakings (MSEs) have been perceived as a significant
contemporary wellspring of work and pay in a developing number of emerging nations.
However, generally little is had some significant awareness of the qualities and examples
of progress in these endeavors. This volume inspects the elements of MSEs in the
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advancement cycle. Drawing on an interesting arrangement of reviews led in twelve
nations in Africa and Latin America the creators map the examples of progress in MSEs
in the creating scene.
Subjects covered include:
* meaning of new beginning and conclusion paces of MSEs
* factors engaged with development rates and development examples of MSEs
* the job of orientation in MSEs advancement. (Carl E. Liedholm, 1999)
Utilizing an enormous ongoing agent test of the German populace this paper adds to the
business writing by observationally testing the speculation that youthful and little firms
are nurseries for early business people. The observational assessment takes the
uncommon occasions nature of turning into an early business person and the provincial
separation of the example into account. Controlling for different individual qualities and
mentalities (sex, age, hazard avoidance, presence of a good example in the family, and
the width of expert foundation) we represent both the measurable importance and the
monetary significance for business of work insight in a firm that is both youthful and
little. (Esteban M. Lafuente, 2004)
The quantity of individuals occupied with miniature and little ventures increments
because of new undertakings being begun and through an extension of existing exercises.
As an incomplete offset to these increments, work declines while existing organizations
stop tasks. This article draws on ongoing study work to inspect the size and determinants
of big business births, terminations and extensions. It investigates the manners by which
these various wellsprings of progress are affected by the condition of the macroeconomy,
and inspects strategy and undertaking suggestions. (Anon., 1998)
Impacts of different businesses on different levels
Pioneering action is by and large thought to be a significant part of the association of
ventures generally helpful for creative movement and unreasonable contest. This paper
researches whether absolute pioneering action (TEA) impacts GDP development for an
example of 36 nations. We test whether this impact relies upon the degree of monetary
advancement estimated as GDP per capita. Change is made for a scope of elective
clarifications for accomplishing monetary development by integrating the Growth
Competitiveness Index (GCI). We track down that pioneering action by early business
visionaries and proprietor/supervisors of youthful organizations influences financial
development, however that this impact relies fair and square of per capita pay. This
recommends that business assumes an alternate part in nations in various phases of
monetary turn of events. (André van Stel, 2005)
The important writing perceives Schumpeterian and Kirznerian business venture as
components that can affect financial development. This article tries to investigate the
impacts of these two sorts of business on monetary development across the three GEM
(Global Entrepreneurship Monitor) financial biological systems (factor-driven economy,
proficiency driven economy, advancement driven economy). Utilizing various data sets,
we applied unequal board information for 43 nations (2009-2013). By assessing the
econometric models, we had the option to work out the impacts of these two sorts of
business venture on financial development in the three unique kinds of economy.
Concerning the general model for GEM economies, neither Schumpeterian nor
Kirznerian business venture return any genuinely massive impacts on the Global
11
Competitiveness Index or on GDP development. Be that as it may, the Total Early-Stage
Entrepreneurial Activity variable creates a beneficial outcome on the Global
Competitiveness Index. The outcomes introduced in this paper give experiences into
business and the GEM pioneering financial environments. (João J. Ferreira, 2017)
The applicable writing perceives Schumpeterian and Kirznerian business as systems that
can affect financial development. This Research Question/Issue
What is the effect of business on GDP/capita, joblessness, sends out/GDP, and licenses
per populace across nations? Is the effect of business venture alleviated by lawful and
social contrasts across nations? Do different global datasets give various solutions to
these inquiries? We observationally think about the effect of business on GDP/capita,
joblessness, sends out/GDP, and licenses per populace across nations by analyzing three
datasets from the World Bank, the OECD, and Compendia. (Douglas Cumming, 2014)

Research Findings/Insights
In light of an extensive example of every accessible nation and years, with the World
Bank information being the most exhaustive, we observe business emphatically affects
GDP/capita, sends out/GDP, and licenses per populace, and an adverse consequence on
joblessness. Derivations from the Compendia information are exceptionally predictable.
On the other hand, derivations from the OECD information are not steady of any of these
recommendations. (Douglas Cumming, 2014)

Hypothetical/Academic Implications
Our discoveries highlight institutional and social obstructions to the viability of business.
Most eminently, the effect of business is essentially relieved by unreasonably solid loan
boss privileges that limit pioneering risk-taking. Besides, the information show that social
mentalities related with generally safe taking breaking point the adequacy of business.
Paradoxically, the effect of business venture on trades/GDP doesn't seem, by all accounts,
to be straightforwardly attached to expenses of sending out, which is maybe best made
sense of by the new economy labor and products made by business people that rely less
upon such expenses. For certain subsets of the information we find proof steady with the
view that top level investment subsidizes improve the effect of business venture on
GDP/capita. At last, our outcomes show how various meanings of new business section
matter for observational investigation of business across nations. (Douglas Cumming,
2014)

Expert/Policy Implications
The information features the significance of admittance to back without disadvantage
costs so business people are urged to face challenge. Further, the information feature
institutional contrasts in risk perspectives that all the more for the most part repress risk-
taking and accordingly limit the viability of business venture. Besides, the information
feature a focal job for cautious estimation of innovative exercises and for consideration of
whatever number nations and years as could reasonably be expected to break down the
effect of business actually. (Douglas Cumming, 2014)
Differences and similarities between public and corporate internship

12
Since entry level positions are turning out to be all the more generally utilized as learning
apparatuses for understudies to assist with filling the hole between homeroom learning
and the act of business, it is critical to comprehend what parts of these encounters make
them the most advantageous. This study surveyed fulfillment of understudies by taking a
gander at three expansive elements (i.e., work qualities, workplace attributes, and logical
variables), which might add to temporary job fulfillment. Our outcomes show that
qualities of the gig (explicitly, task importance and criticism) and attributes of the
workplace (specifically, learning potential open doors, manager support, and authoritative
fulfillment) were the best indicators of entry level position fulfillment. These discoveries
can help business colleges, staff, understudies, and host organizations in making a critical
formative encounter, temporary positions, as fulfilling as could really be expected.
(Caroline P. D'abate, 2017)
the relationship of business school temporary positions to school execution and to
ensuing open positions. Whites were more able to have had an entry level position than
African Americans; there was no distinction by orientation. Understudies with entry level
positions had an altogether higher in general grade point normal, were to some degree
more youthful upon graduation, and were more adept to be utilized upon graduation than
understudies without temporary jobs. Entry level positions were along these lines
connected with both better school execution and to getting a proposition for employment
upon graduation. Conversation fixated on the job of temporary job in reasonable work
assumptions and suggestions for further developing entry level positions. (STEPHEN B.
KNOUSE, 2011)

13
Bibliography
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Growth. Small Business Economics, Volume 24, pp. 311-321.

Anon., 1998. The dynamics of micro and small enterprises in developing countries. World
Development, 26(1), pp. 61-74.

Anon., 2020. Developing an Entrepreneurial Mindset Among Engineering Students: Encouraging

Entrepreneurship Into Engineering Education. IEEE Revista Iberoamericana de Tecnologias del
Aprendizaje, 13(3), pp. 138-147.

Carl E. Liedholm, D. C. M., 1999. The Dynamics of Micro and Small Enterprises. Small Enterprises
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Caroline P. D'abate, M. A. Y. a. K. E. W., 2017. Making the Most of an Internship: An Empirical

Study of Internship Satisfaction. Academy of Management Learning & Education, 8(4).

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Davis, M. H. H. J. A. &. M. P. S., 2016. Developing a new measure of entrepreneurial mindset:

Reliability, validity, and implications for practitioners. Consulting Psychology Journal: Practice
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Donald F. Kuratko, G. F. D. B. A., 2021. Unraveling the entrepreneurial mindset. Small Business
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Douglas Cumming, S. J. Z., 2014. The Economic Impact of Entrepreneurship: Comparing

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Esteban M. Lafuente, Y. V., 2004. Are Young and Small Firms Hothouses for Nascent
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Fauzia Jabeen, M. N. F. M. I. K., 2017. Entrepreneurial mindset and the role of universities as
strategic drivers of entrepreneurship: Evidence from the United Arab Emirates. Journal of Small
Business and Enterprise Development, 24(1), pp. 1462-6004.

J. Michael Haynie, D. S. E. M. C. E., 2010. A situated metacognitive model of the entrepreneurial

mindset. Journal of Business Venturing, 25(2), pp. 217-229.

João J. Ferreira, A. F. F. M. R., 2017. Effects of Schumpeterian and Kirznerian entrepreneurship

on economic growth: panel data evidence. E&RD: Small business and entrepreneurship: their
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Koh, H. C., 1995. FACTORS ASSOCIATED WITH ENTREPRENEURIAL INCLINATION: AN EMPIRICAL

STUDY OF BUSINESS UNDERGRADUATES IN HONG KONG. Journal of Small Business &
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Lisa Bosman, N. D.-C. B. M. M., 2019. Using Online Discussions to Develop the Entrepreneurial
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Personality Traits, Growth of Personal Entrepreneurial Resources, and Business Idea Generation.
The Career Development Quarterly, 60(2), pp. 178-190.

Nader Seyed Amiri, M. R. M., 2012. Concept of Entrepreneurship and Entrepreneurs Traits and
Characteristics. Scholarly Journal of Business Administration, 2(7), pp. 150-155.

Sanja Pfeifer, N. Š. M. Z. s., 2016. Shaping the Entrepreneurial Mindset: Entrepreneurial

Intentions of Business Students in Croatia. Journal of Small Business Management, 54(1), pp.
102-117.

Sascha Kraus, R. H. a. M. F., 2009. Entrepreneurial marketing: moving beyond marketing in new
ventures. International Journal of Entrepreneurship and Innovation Management, 1(1), pp. 19-
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Shaker A. Zahra, M. W., 2015. Understanding the Social Role of Entrepreneurship. Journal of
Management Studies, 53(4), pp. 610-629.

STEPHEN B. KNOUSE, J. R. T. E. W. H., 2011. The Relation of College Internships, College

Performance, and Subsequent Job Opportunity. Journal of Employment Counseling, 36(1), pp.
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