ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 4 HND Diploma in Business

Unit number and title Unit 9: Entrepreneurship and Small Business Management

Submission date August 19, 2021 Date received (1st submission)

Re-submission date September 22, 2021 Date received (2nd submission)

Student name ONG THI HUYEN TRANG Student ID GBD191096

Class GBD0805B Assessor name Le Xuan Nguyen

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 TABLE OF CONTENT

I. INTRODUCTION ...........................................................................................................................................4
II. BRIEF INTRODUCTION ABOUT THE CHOSEN FIRMS ......................................................................................4
III. EXPLORE AND ILLUSTRATE THE RANGE OF DIFFERENT ENTREPRENEURSHIP VENTURES ..............................6
1. Different types of entrepreneurial ventures ...................................................................................................... 6
2. The similarities and differences between entrepreneurial venture .................................................................. 9
IV. ENTREPRENEURSHIP IN THE PUBLIC AND CORPORATE SECTOR ................................................................. 12
1. Definition of entrepreneurship in the public and in the corporate sector ...................................................... 12
2. Critical points comparing.................................................................................................................................. 12
V. EVALUATE THE IMPACT AND IMPORTACE OF SMALL BUSINESSES ON THE ECONOMY ................................ 13
1. The impact of the chosen small businesses in Vietnam ................................................................................... 13
2. The importance of small businesses and business start-ups to the growth of the social economy ............... 16
3. Comparing the impacts/ contribution of SMEs and Large scale businesses make to the economy ............... 17
VI. CONCLUSION ........................................................................................................................................... 19
VII. REFERENCES ........................................................................................................................................... 21
I. INTRODUCTION

As a small business adviser, requesting the production of a report in the form of a major business brochure is
critical to motivating and encouraging young people to become entrepreneurs. This study examines the various
sorts of company models that can be classified as business ventures, as well as the economic impact of small
firms. Different sorts of entrepreneurial endeavors, similarities and variations between entrepreneurial
ventures, the world of micro and small enterprises on the economy, and the relevance of small businesses and
start-ups are some of the report formats to cover. Finally, examples of companies will be supplied to make the
information in this study more accurate.

II. BRIEF INTRODUCTION ABOUT THE CHOSEN FIRMS

Small business : San Dentist

San Dentist cosmetic dentistry was launched on October 29, 2019 at 5B - 5C Tran Nhat Duat, Tan Dinh Ward by
Mr. Le Thanh Duong (Ngo Kien Huy) and Mr. Huynh Phuong as Co - founder. With the spirit, talent and modern
technology SAN DENTIST will bring you true smile value and spread happiness together to everyone (Sandenist,
2019).

Scalable start-up: Starbucks

Starbucks is a famous coffee brand in the world and was started - up on March 30, 1971 by Jerry Baldwin, Zev
Siegl and Gordon Bowker at Seattle's Pike Place Market. Starbucks Coffee is headquartered in Seattle,
Washington, USA. Besides, the company has 17,800 stores in 49 countries. Now, the company is zealously
upholding its brand by taking an indomitable approach to sourcing the highest quality coffee with a mission to
"inspire and nurture the human spirit. One person per person, one person and one neighborhood. With the
Covid-19 epidemic, Starbucks changed its "follow and adapt" business strategy, increasing its online sales
channel to last longer (Starbucks, 2021).

Social enterprise: Grameen Bank

Grameen Bank is a community development bank that started in Bangladesh. They provide small loans
to the poor without asking for money before lending. The bank's system is based on the idea that the poor
have skills but have no chance to use their skills without money. The bank also controls a number of
businesses, such as fabric, telephone, and energy companies. Most bank loans are for women. Grameen Bank
was founded in 1976 when Professor Muhammad Yunus, a Fulbright scholar and professor at Chittagong
University, studied how to provide banking services to the rural poor. In October 1983, the Grameen Bank
Project was transformed by the government into an independent bank (Barone, 2020).

High-growth firms: Tesla, Inc.

Tesla, formerly known as Tesla Motors, Inc., is an American manufacturer of electric and clean energy vehicles.
The company operates through two segments: Automotive, and Energy Production and Storage. The company's
automotive segment accounts for the majority of revenue at the Palo Alto and US-based with just under half of
its sales, and the Automotive segment includes the design, development, manufacture and sales of electric
vehicles. The energy production and storage segment includes the design, manufacture, installation and sale or
lease of static energy storage products and solar energy systems (Johnston, 2021).

III. EXPLORE AND ILLUSTRATE THE RANGE OF DIFFERENT ENTREPRENEURSHIP VENTURES

1. Different types of entrepreneurial ventures

a. Small business:

According to The Bolton Committee (1971), qualitative definition of small businesses must meet the following
criteria:

▪ They have a relatively small market share in the industry.

▪ They are mainly administered by their part owner or part owner in a personalized way rather than by an
organized management structure.
▪ They are independent of the owner or manager who has control over the operations of the business,
and should only be limited by external factors in matters of financial obligations.

For example :

San Dentist Dental Clinic has a team of nearly 20 dentists and counselors. Here specializes in providing cosmetic
dental services in gentle, thoughtful and professional environment. Make sure every customer who comes to
San Dentist will have the best dental experience for themselves. "The philosophy of San Dentist is to keep you
healthy and happy because we understand the important role that oral health plays in quality of life." With a
team of well trained nurses and doctors with high technical skills and many years of experience, committed
to providing customers with the best service. Dentistry is committed to using materials of clear origin, which
have passed strict testing. Besides, machines and technical equipment are advanced, modern, clean and
hygienic. Laminate aesthetic porcelain dental coating service with the best competitive price in the market
today.

Finally, the warranty is thoughtful from 10 to 15 years. Commitment to quality according to the standards of the
Ministry of Health. San Dentist is also their vehicle to support their income. It meets all the characteristic of a
small business (Sandenist, 2019).
b. Scalable start-up:

A scalable startup is a business model where an organization is started on the basis of a unique idea. It involves
everything from planning to all the steps up launching a business helps businesses achieve economies of scale
(Sumit, 2019). Besides, it is also based on the dynamic capitalism model, so that the company can expand and
have the ability to change new low but growth is high - potentially expanding the number of product ranges or
franchises.

For example:

Starbucks is a good example of a company that has managed to maintain two characteristics: innovation and
high growth over a long period of time. For starters, the types of joint ventures that are frequently concerned
with scalability may be proprietary. Take a look at the graph below, which shows the growth in the number of
Starbucks stores over the last 50 years:

Figure 1 - Number of Starbuck Stores 1987 - 2017 (Starup.vnexpress,2021)

Howard Schultz raised $ 3.8 million in August 1987 to buy Starbucks from its founders, Jerry Baldwin and
Gordon Bowker. The Starbucks system currently has 17 locations. By 1992, Startbucks had grown to 165
locations and had gone public (IPO). Starbucks had a market capitalization of $ 273 million at the time. SBUX
had a market cap of $ 79.63 billion in early January 2019, with sales of $ 22.39 billion in 2017.

In addition, Starbucks focuses on attracting customers through spatial design, current design. Consistency in its
advertising and decoration. Besides, production and sales technology is constantly being improved and
improved from coffee cups with many unique flavors. Starbucks is also seen as a scalable start-up, as until now,
Starbucks is still working hard to increase customers and increase sales (Startup.vnexpress, 2021).

c. High -growth firms:

According to Fernando (2020), a business has an unusually rapid growth record when compared to its
competitors in the same industry. It is also based on the dynamic capitalism model, to understand that the
growing company can expand the number of product range and the quality of the product.

For example :

Tesla has experienced rapid expansion in recent years. To begin with, revenue increased by more than 60%
between 2013 and 2018, rising from little over $ 2 billion in 2013 to more over $ 21 billion in 2018. Similar
results have been shown for the company's balance sheet, with the book value per share increasing from $ 2.18
at the end of 2010 to $ 33.51 on September 30. 2019. As such, Tesla is entirely in the definition of high growth
companies (Fernando, 2020).

d. Social enterprise:

According to Alex Coad (2014), a social enterprise is defined as a business that has specific social objectives that
serve its primary purpose. Social enterprises seek to maximize profits while maximizing benefits to society and
the environment. Their profits are principally used to fund social programs.

For example:

Grameen Bank was founded to provide small loans to the underprivileged for various purposes, including small
companies. Grameen has delivered a $ 10 billion loan to over 10 million people since its inception in the 1970s,
demonstrating the necessity for the feasibility of financial services for the poor.
According to the bank, more than half of people who receive a loan are no longer in poverty. Their community-
based monitoring approach has assisted the bank in lowering expenses and achieving excellent return rates of
more than 90%.

2. The similarities and differences between entrepreneurial venture

• Porter’s Five forces

For small business, depending on the level of market competition as well as the number of companies in the
same industry create more opportunities to expand the market.

➢ For example, San Dentist is a small business that just started in 2019, the level of competition is getting
bigger and bigger. Therefore, San Dentist has a small base in Ho Chi Minh City as well as a small position in
the market. However, thanks to the contributions of artists who make everyone's reputation and the care of
products and services quite special, San Dentist has a very strong competitiveness, not only that, San Dentist
will have many more. potential in the coming years.

For a highly competitive market , The scalable start-up have the ability to expand , if the level of market
competition is high they will expand their products , promote marketing and find more investors . if the level
of competition is low they will expand the market.

➢ For example, the Starbucks company is a fairly high competitor in beverage and tea and snack offerings. This
shows that Starbuck has high competition from competitors and Starbuck has focused on expanding more
products as well as expanding business activities with many products suitable for each customer group.
Because of that, we always see a lot of Starbuck coverage in big cities or very large commercial centers in
Vietnam.

High growth businesses often pay less attention to competition in the high or low market, they only care about
creating new products and improving old products into more advanced and modern products.

➢ Tesla is a prime example, a business with a record number of products because their innovations and
designs appeal to all players and Tesla is traded on a major stock exchange. because of that, Tesla faces
almost no competition - things are different now (Bao, 2021). This shows that they focus on innovation and
open many factories - also the largest electric vehicle market in the world to have a stronger foothold
against global competitors.
Social enterprises often pay less attention to market competition, because their goal is to solve social problems
not for any individual or benefit developers for their own sake. is to help the community.

➢ Grameen bank is a social enterprise operating in the field of microfinance, which is a way to simultaneously
solve two profit goals and serve the development of the community. That's why they don't care about any
competition with other banks.
• MC Kinsey’s model

For small businesses, focus on how to keep the company running. In addition, the structure of this type is also
simple, the director is the one who decides all. Shared values are focused on specific audiences.

➢ For example, San dentist is a dental business that specializes in dental care, with Ngo Kien Huy as the head
of all decisions. Although it just started its business in 2019, recently San Dentist has existed in the market
and is known to more people. perhaps they have enthusiastic , skilled and strategic staff to attract and serve
the business to become successful (Linh, 2020).

For scalable start - ups, the strategy of a scalable startup is to focus on expanding the market, coming up with
unique and innovative ideas to attract new investors shared value is focused on all target groups.

➢ Starbucks, the shared value is focused on people who like to drink coffee and have flexible eating needs.
Because of that, Starbucks has built a strategy by expanding products, promoting brands, increasing the use
of social networks and creating coverage across cities in Vietnam to create high market value (Admin, 2020).

Most high-growth companies focus on developing a product or service to their strengths. The shared value will
also be directed to a certain group of people who have a need to use the company's products and services.

➢ Most high-growth companies focus on developing a product or service to their strengths. The shared value
will also be directed to a certain group of people who have a need to use the company's products and
services. Tesla has focused on developing strengths in products related to customer service. The shared
value that Tesla aims to be is the value of the brand, not the property (te, 2021). These goals and missions
provide a solid foundation for maintaining an effective organizational design and meeting the needs of
potential customers.

For social enterprises, it will create value for the community and improve social life.

➢ Grameen Bank's main objective is to focus on community values and economic stability. Therefore, the
strategic arrangement, the structure will be different from the other three because they are community
 oriented. For that reason, Grameen Bank created a credit institution that mainly performs a number of
banking activities to meet the needs of individuals, low-income households and micro enterprises to serve
capital needs. To develop production and business activities or reduce poverty is always a top concern,
because it comes from the "low-income" characteristics of supporting the community (hang, 2019). Because
of that, the competition for Grameen Bank is quite stable for the community to have a stable economy.
• Porter’s Value Chain

For small businesses, it is often not possible to apply all of the elements of Porter's model. Basically, it focuses
on core operations because sometimes it only deals with external logistics and operations.

➢ For example, San dentist focuses on expertise and in-depth aesthetics that bring life-changing values,
making lives better.

For scalable startups, they focus on supporting activities as it relates to R&D - creating a unique and innovative
product and aiming to create a solid foundation for growth and product expansion.

➢ Starbucks, they initially focused on massively opening many stores to attract customers but made them
unsuccessful. After that, Starbucks tried to bring more added value to customers, such as providing wifi
service, increasing creative space, serving new drinks and even bringing music into the cafe. Drinks prices
are a bit high, but Starbucks has transformed itself into stores with a local touch, rather than a global brand
that has helped it lead the market so far (Brands, 2016).

For high growth businesses that want to grow they will first focus on supporting activities as it involves R&D and
technology development. They will then apply to the main activities in the company.

➢ For example, Tesla, thanks to its design and durability, has created a reputation and attracted relationships
with major investors that is their greatest value. Since then, Tesla has been present in most of the major
cities and provinces in Vietnam. Tesla has instilled confidence in customers by testing products and
evaluating their effectiveness on a high-tech platform.

For social enterprises, they cannot apply all activities according to this model because they mainly focus on
creating value for society through profit.

➢ For example, Grameen Bank, they only focus on profit-making activities of the company in order to generate
profits and benefits to serve the economic needs of difficult societies and communities. It is because of
these meaningful activities that they have created their own value for Grameen Bank.
IV. ENTREPRENEURSHIP IN THE PUBLIC AND CORPORATE SECTOR

1. Definition of entrepreneurship in the public and in the corporate sector

a. Public sector entrepreneurship

According to Boyett (1997), Public sector entrepreneurship has been defined by Leyden and Link (2015) as the
promulgation of innovative public policy initiatives that generate greater economic prosperity by transforming a
status-quo economic environment into one that is more conducive to economic units engaging in creative
activities in the face of uncertainty. In today's economy, public sector entrepreneurship principally effects that
transformation by improving the effectiveness of knowledge networks; that is, by growing the heterogeneity of
experiential links among economic units and the ability of those same economic units to exploit that diversity.
There will be more creation of new technologies and thus more innovation throughout the economy as a result
of policy initiatives that are defined by public sector entrepreneurship.

b. Corporate sector entrepreneurship

According to Brizek (2021), Corporate sector entrepreneurship is a set of activities to enhance a company’s
ability to innovate, take a risk, and seize the opportunities that are allocated in the market. Corporate
entrepreneurship is targeted on new business establishment, new market allocation with further business
pursuing, or both. These activities may take place at any level of the organization, including the business,
department, role, or project, as long as the common purpose is to enhance the company's competitive position
and financial results.

2. Critical points comparing

PUBLIC SECTOR ENTREPRENEURSHIP CORPORATE SECTOR

ENTREPRENEURSHIP
PURPOSE Increasing economic stability, sustaining Requires freedom and flexibility
or exacerbating one or more public to pursue projects without being
sector organizations; not profit-driven bogged down in bureaucracy; goal
and dedicated to serving the people of oriented; motivated but is influenced
the country. by the corporate characteristics.
DECISION MAKING Less decision – making autonomy and More involvement and independence
flexibility, more constrained on in decision making due to greater
 procedures and operations, subject to flexibility and autonomy in the
public scrutiny, major decisions have to decision making process.
be transparent.
ROLE AND RESPONSIBILITY To generate value for people by Provides a platform for market
combining special combinations of public expansion and fosters innovation, as
and/or private capital to leverage social well as empower startups to create
opportunities; to use external powers to solutions to everyday problems while
initiate and achieve intimal change. creating economic opportunities.
INNOVATION Taking risks of opportunistic impulses In terms of the degree of creative
toward intervention and resolving activity required, apply and innovate
political and bureaucratic barriers innovations that can be designed,
Consciously. deliberate, and purposeful.

V. EVALUATE THE IMPACT AND IMPORTACE OF SMALL BUSINESSES ON THE ECONOMY

1. The impact of the chosen small businesses in Vietnam

Vietnam has been altering its economic structure towards industrialization and modernization for the past 30
years, laying the groundwork for the growth of enterprises in both quantity and quality. According to the
Vietnam Chamber of Commerce and Industry's 2016 Annual Business Report, Vietnam saw a significant increase
in the number of newly registered businesses and a decrease in the unemployment rate between 2007 - 2016,
because small and medium-sized enterprises (SMEs) are now considered to be one of the most important
components of the economy in the country. They are well-known internationally as motivators because of the
major contributors to their GDP and the creation of new jobs. They are frequently seen as a leader in
environmental sustainability, economic prosperity, and innovation, particularly in developing economies such as
Vietnam's (network, 2021).
 Figure 2 - The number of newly established small - all medium - sized enterprise (SMEs) (network, 2021)

SMEs in Vietnam are defined as businesses with a total investment capital of less than 100 million VND and
fewer than 300 employees. Since 1985, the number of SMES has increased dramatically, bringing many benefits
to Vietnam; 51 percent of the workforce works for SMES, which account for more than 40% of the country's
GDP; per capita income has increased from $471 in 2003 to $2300 in 2016. More than 400,000 SMEs operate in
Vietnam, employing 51% of the workforce and contributing more than 40% of the country's GDP.

Besides, according to General Statistics Office of Vietnam, in 2020 SMEs represent more than 97 percent of total
enterprises in Vietnam . In accordance with these statistics, SMEs are recorded in the aspect of solving many
social challenges, consisting of employment, and promoting urbanization. Vietnamese SMEs’ contribution is
positive to the economy. As reported by the Ministry of Finance in December 2019, over 40 percent of
Vietnam’s GDP and 30 percent of total budget revenue were contributed by SMEs. Thanks to SMEs, 60 percent
of Vietnam’s workforce was employed. The amount of tax and other fees which SMEs have contributed to
government budget has increased 18.4 times after ten years from 2006 to 2016.
 Figure 3 - Proportion of SMEs in Vietnam in 2018 (network, 2021)

San Dentist dentistry is one of many local dentists that cater to a wide range of economic consumption. It adds
to the variety of dental options available to customers looking for a place where they can have healthy teeth
and receive excellent service. Despite the fact that this is a newly opened dental clinic with a limited range of
cosmetic dental services and customer care machines, they are constantly adding more and researching and
providing cutting-edge technology in order to provide the best experience for customers in a gentle, thoughtful.

As for Job creation, Small businesses contribute to the local economy by bringing growth and innovation to the
communities where businesses are founded. Small businesses like San Dentist also help stimulate economic
growth by providing job opportunities to those who have not yet had the opportunity to seize a job. Dentistry
always employs a team of professional consultants with in depth knowledge of the dental field. Besides, it also
recruits dental assistants to assist doctors and perform simple expertise that does not require high technology
such as dental fillings, tartar removal, etc. and is responsible for patient control and hygiene. dental tools before
and after use to ensure they are clean and free of contamination. In addition, recruiting a team of highly
specialized doctors with many years of experience is highly appreciated from the Ministry of Health. As a result,
this recruiting helps to support San Dentist's business more. and professional environment. Since then, dentistry
has improved the local economy's consumption diversity.

Despite their small contributions, San Dentist and many other small businesses are the mainstay and probably
the largest contributor to the Vietnamese economy. San Dentist is one of the small businesses that contribute
to the economic diversity. A diverse economic network is provided by small businesses of all types and sizes.
Within the same industry, these small businesses can also create competition. Another factor that contributes
to the country's diverse and robust economy is healthy competition.

2. The importance of small businesses and business start-ups to the growth of the social economy

a. Definition of social economy

According to Tarver (2021), Social economy referes to the goals of companies. Whether it is for profit or not, the
social goals and profitable ones of firms/ organization contribute to the social economy. Although the theories
may differ, social economy is concerned with the relationship between social and economic factors within
society.

b. How small business and startups contribute to the development of the social economy

In Vietnam today, small businesses have many ways to contribute to the development of the social economy,
small businesses like San Dentist are no exception:

The foundation for selling products or services is making a contribution to the development of the social
economy. Small businesses serve as the most basic platform for purchasing goods and services. As a result, sales
operations don't have as many requirements as large businesses, and they don't have to go through the
process. Small businesses can then assist customers in completing their tasks much more quickly.

Furthermore, while high-growth firms only hire skilled workers, small businesses assist the government in
addressing one of its social issues by hiring both skilled and unskilled workers. power. Larger businesses may not
offer many opportunities to unskilled workers, but small businesses can always help them in exchange for some
difficult work.

Small businesses are not always small, large corporations always start out as small businesses and grow into big
players in national and international markets. Small businesses help develop entrepreneurship. Consequently, it
grows into a large enterprise and often remains within the community where the business was first founded.
Having a large corporation headquartered in a community can help provide more jobs and stimulate the local
economy, creating a market that supports the growth of other small businesses. For example, San Dentist is a
small local dentist but later on, it can also become the largest San Dentist dental chain in Ho Chi Minh City in
particular and Vietnam in general. Since then, providing jobs for many people and making a great contribution
to the economy of Vietnam. Besides, small businesses also create fair and perfect competition. Because when
they have an objective view of the similarities in their business environment with other businesses, small
businesses will try to find management methods as well as how to operate to improve business operations. joint
venture. As a result, they have the opportunity to expand nationally or even internationally.

While scalable startups like Starbucks differ from small businesses like San Dentist in many ways, an expanding
startup innovates to make a significant contribution to the social economics of the business. Furthermore,
startups have grown to create a large number of new jobs for a large number of people, contributing to long-
term economic growth (Brands Vietnam, 2021).

Startups are constantly coming up with new ideas and innovative approaches to address a variety of social
issues. From there, assist in changing societal ideals and fostering new ways of thinking, motivating people to
achieve greater success at work and in everyday life.

3. Comparing the impacts/ contribution of SMEs and Large scale businesses make to the economy

Many experts have made their arguments about supporting startups for economic development. Supporting the
most suitable type of business model can help unlock the potential of the national as well as local economy.
Businesses have different sizes of operations. Small and medium-sized business models can easily adapt to
change and explore creative ideas. On the other hand, larger companies looking for larger profits are positioning
themselves to make large profits (Brenkert, 2017).

Small and medium-sized businesses (SMEs) make up a considerable share of the UK economy when compared
to larger corporations. Small and medium-sized firms have accounted for a bigger proportion of all industries
and contributed significantly to the UK economy. Larger organizations, on the other hand, make substantial
revenues merely by offering high-quality products and services, and huge UK firms are established in countries
due to their brand equity. Diverse and useful for generating foreign currency. In comparison to other
organizations, larger enterprises are made up of varied activities and employ a larger number of candidates. In a
country, large institutions also spend more on CSR efforts (Brenkert, 2017).

To attract and drive business growth, small and medium businesses focus on supplying innovative products to
clients. These businesses also export in greater volumes and hire more people in the UK, helping to lower the
country's unemployment rate.

In the case of small business - San Dentist, the company has created many jobs as well as opportunities for
everyone to grasp and reduce the unemployment rate of Vietnam today. In addition, they also invest in modern
5-star standard facilities, equipment and machinery along with high standard procedures from the Ministry of
Health to help customers have the best experience in the place Here, along with a team of professional
consultants with profound knowledge in the dental field and a team of highly specialized doctors with many
years of experience, are highly appreciated by the Ministry of Health. Darkness dentistry has been open for
nearly 2 years but has attracted more than 3,000 customers who have trusted teeth here. All of that has
brought in high sales for San Dentist.

Tesla, being a huge corporation, has provided numerous job opportunities for its employees. By the end of
2020, Tesla and its Kho will have a total of 70,757 full-time employees. Tesla's headcount has risen dramatically
after dropping by around 1.6 percent between 2018 and 2019. As Tesla attempts to offer electric automobiles
to the broader market, the overall growth in the number of personnel between 2010 and 2020 is in line with
expanding production. Tesla produced almost 180,000 automobiles in the fourth quarter of 2020. The size of
the global electric vehicle market is expected to reach $ 567 billion in sales by 2026. In 2016 Tesla opened an
electric vehicle manufacturing plant called Gigafactory 1 located near Reno, Nevada. This is the time when the
number of Tesla employees increase. To gain a foothold in the Chinese auto market, a Shanghai - based
manufacturing plant began construction in 2018. Tesla is currently building a manufacturing plant near Berlin,
Germany (Wagner, 2020).

Figure 4 - Number of Tesla employees from July 2010 to December 2020

In 2020, Tesla reported a profit of $ 721 million from about $ 31.5 billion in sales, supported by increased
delivery and higher revenue from regulated credits. That compares with a loss of $ 862 million and a revenue of
$ 24.6 billion in 2019. The firm tops Wall Street's revenue with expectations of around $ 31.1 billion, according
to FactSet, though it has missed the profit estimate (Elliott, 2021).
 Figure 5 - Profitability in the first year of Tesla

Furthermore, Tesla employs cutting-edge technologies to satisfy the needs of customers and the automotive
business of Tesla, Inc. Respond to community concerns directly. One of the advantages of this stakeholder
group is that it helps to preserve or safeguard the natural environment. The company's electric automobiles,
batteries, and solar panels (via its subsidiary SolarCity) address that worry in this business study. The eco-
friendliness of these products, for example, has pleased the community. Tesla's citizenship approach takes into
account the needs of this set of stakeholders who benefit from cutting-edge technology.

For example, in 2014, CEO Elon Musk announced that the company would allow other individuals and
organizations to use its patents. This corporate social responsibility strategy benefits the community directly
through development projects related to such technologies. These initiatives highlight sustainable energy
solutions, which are at the core of Tesla's vision and mission statements. In response to such public interests,
the CSR approach helps to promote corporate public relations (Greenspan, 2018).

VI. CONCLUSION

This is a small research project focused on a variety of different entrepreneurship examples. The objectives
of this report is to illustrate the various examples of each form of entrepreneurship (small business, scalable
startup, high growth firms, social enterprise). Furthermore, the task of entrepreneurship in the public and
corporate sectors is to combine their scope and creation, according to the presentation. Explore and compare
different market conditions for each of the cases, and assess their effect and relevance on the economy at
various levels, using the aforementioned case studies and current risks of small and medium enterprises. The
importance and ramifications of small enterprises' contributions to the economy as part of the growth process
have also been highlighted, as have the recommendations made to entrepreneurship on their regional and
international impacts. Because of their impact on the social economy, it is necessary and fitting to study and
consider the entrepreneurial ventures and ways of entrepreneurship that will lead to the world's development
and prosperity.
VII. REFERENCES

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[Accessed 16 August 2021].
• Barone, 2020. The Aims of Social Enterprises. [Online]
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