Define The Concept Of An SME, And Evaluate The Growth And Financial Contribution: Enterprise And Small Business Management Assignment, UOL, UK

Part 1: 

Individual Presentation

Make sure you covered the following:

Define the concept of an SME, and evaluate the growth and financial contribution of micro, small and medium private organizations to the UK Economy. Your analysis needs to be based on the last 5 years and must include potential political and economic factors that might have either stimulated or halted the development of SMEs in the country.

Examine the role of SMEs and analyze how they contribute to the national economy. Your analysis must contrast the following:

1. Compare the impact of SME’s for two UK regions;

2. Compare the impact of SME’s for the UK utilizing two different industries (for example, retail and construction)

3. Compare the impact of SME’s for two EU countries;

Section 1:

1. Define what the concept of an entrepreneur is, and provide some examples of different entrepreneurs in business.

2. Explore the type of entrepreneurial ventures and investigate the similarities and differences between them.

Section 2:

Examine the following case study:

From a very early age, DeborahMeaden knew she wanted her own business. Having left school after O-Levels she studied at business college and at the age of 19, with very little capital she launched her own glass and ceramics import company supplying upmarket stores like Harvey Nichols.

Business advice: “What you really need to know about business, from what it takes to be a success, to the research, planning, and pitching involved for driving your business forward” (D.Meaden, 2021).

Investigate Deborah’s activities and achievements in your report. Make sure that you cover the following areas:

1. Explain the difference between an entrepreneur and a manager.

2. Utilise the Big-5 Model and assessDeborah’s entrepreneurial personality.

3. Utilise Maslow’s Pyramid and determine if there is a correlation between entrepreneurial characteristics and entrepreneurial success. Link it to Deborah’s actions.

Critically evaluate the influence (both positive and negative) that other factors have in fostering or hinder entrepreneurial success (your analysis should include education, financial status, and demographic factors).  Use Deborah’s story as an example.