BU6602 ENT Assignment 1 April 2014 Task 1 Essay

BU6602 ENT Assignment 1 April 2014 Task 1 - Essay typeThe small businesses draw gained popularity in this modern day context due to their effective utilisation of operational modes that often acted as saviours of economies at the time of sparing turmoil. However, it can be affirmed that entrepreneurs ar linked with a small business, as they are involved in the tasks of promoting innovation and preparing themselves for addressing along with mitigating underlying risks that qualification occur while performing varied operational functions (Pearson Education, Inc., 2014).Considering the fact that the small business enterprises often possess limited resources, the entrepreneurs have to be much to a greater extent efficient in organising and developing the available resources so that the maximum amount of benefits can be reaped. Moreover, the entrepreneurs must possess the characteristics of making effective decisions, having high zip level, identifying the risks and adopting measur es to mitigate such risks among others in order to fulfil the aforesaid objective (Pearson Education, Inc., 2014). It has been apparently observed that the entrepreneurs or the owners who possess effective leadership qualities and displays innovative skills are successful in developing their respective small businesses (Stokes & Wilson, 2010).With this concern, the essay tends to critically discuss the provided statement sometimes the manager of the small business does not have the capacity to operate it successfully. The owner lacks the leadership ability and knowledge necessary to make the business work (Scarborough, 2012). Various significant aspects like an entrepreneurs role in developing a small business and the necessary skills that require by the managers or the owners would also be taken into concern while discussing the aforesaid statement.As discussed by Mazzarol (2004), strategic management is a term, which is broadly connected with large, medium as well as small-sized b usinesses that are normally