Exploring Entrepreneurial Education and Development

This assignment content consists of multiple references to various research papers, journals, and books related to entrepreneurship. The sources cover topics such as global entrepreneurship development index, necessity entrepreneurship, entrepreneurship education, gender and entrepreneurship, issue entrepreneurship, social innovation, and passion entrepreneurship. Additionally, there are online resources mentioned, including a Master's program in Entrepreneurship at Royal Holloway and the Program in Entrepreneurship at Princeton University.

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................4
P1 Different type of entrepreneurship ventures and their relationship with typology................4
P2 Similarities and differences between entrepreneurial ventures.............................................5
M1...............................................................................................................................................6
D1................................................................................................................................................7
TASK 2............................................................................................................................................7
P3 Micro and small businesses impact on the economy.............................................................7
P4 Importance of the small business and business start up to grow in social economy.............8
M2...............................................................................................................................................9
D2................................................................................................................................................9
TASK 3............................................................................................................................................9
P5 Characteristics, traits and skills of successful entrepreneurs.................................................9
P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation
and mind-set..............................................................................................................................10
M3.............................................................................................................................................11
D3..............................................................................................................................................11
TASK 4..........................................................................................................................................12
P7 Impact of the background and experience on the entrepreneurship....................................12
M4.............................................................................................................................................12
D4..............................................................................................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Entrepreneurship has a wide range of meaning. Entrepreneur is a person which having a
very high aptitude and that should be change as well as they are having a processing
characteristics and they found in a small fraction of population. Entrepreneur is a person who
start a business by taking more risk so that they can earn maximum profit. Entrepreneurship
helps in doing innovation as well as creativity (Gielnik and et.al., 2015). To generate the value to
the consumer they have to combine various input factors so that they can develop the existing
products and sell to the end users which assist in providing and increasing satisfaction to them.
In the below mentioned report, discussion on different type entrepreneurial venture which is
related with the typology of entrepreneurship (Entrepreneurship MSc, 2017). Along with this
similarities as well as dissimilarities of entrepreneurial ventures. Moreover, micro as well as
small business having a impact on the social economy which has to be discussed.
TASK 1
P1 Different type of entrepreneurship ventures and their relationship with typology
Entrepreneurship is a distinctive approach which is used to manage the things rather than
a specific level in the life cycle of business entity as well as specific role of the individual person
who is the owner of the company. Entrepreneur can be found in many different type of
organisation which includes the large corporation (Phillips and et.al., 2015). Entrepreneur is a
person who has a willingness as well as capacity to do more wok by taking risk which helps in
earning maximum profit. Entrepreneurial venture is a individual person who start the business by
utilising appropriate resources and by doing proper planning they can take risk and rewards for
improving the business venture. There are four type of entrepreneurial ventures are:
Entrepreneurial ventures Description
Small Business Entrepreneurship Small business owners are responsible for managing all the
aspects of their business entity. He takes risk to improve
the business and earn maximum profit.
Scalable Start-up Entrepreneurship It includes the person who organise, manage as well as
assume the risk of business. It determines the small
business in which owner start the business and this

corporation having a different objectives (Link, Siegel and
Wright, 2015).
Large Company Entrepreneurship It includes the development or improvement of the new
ideas along with the opportunities within the large or
established business which increase the profitability of the
business as well as enhance the competitive position in the
market.
Social Entrepreneurship It is use of the distinct techniques by the start up companies
and the other entrepreneur which helps in improving,
funding as well as they have to implement the solutions to
the social, environmental and cultural issues.
These are the type of entrepreneurship which are related with the different type of
typology of entrepreneurship. They are:
Innovating entrepreneur: These are the one who introduce and identify new merchandise,
launched new techniques along with this these are the person who introduce the new market.
These entrepreneur do the improvements at a certain level (Rauch and Hulsink, 2015).
Lifestyle entrepreneur: These type of person does not having any knowledge to start the
business. It focuses on the rewards which are provided to the people that enjoy. Along with this
they are having a passion for what they are providing to the different consumers.
Research entrepreneur: These type of entrepreneur do lots of research and learn new things. By
doing proper research they have to use appropriate research which help the business to grow in
the market.
Accomplished entrepreneur: These type of entrepreneur includes all the stages of
entrepreneurship and they have to do proper work so that they can set up the good business and
attain success in the competitive market (Block and et.al., 2015).
P2 Similarities and differences between entrepreneurial ventures
Small business entrepreneur is a person who start the business and continue their business
with a limited resources. Along with this they have to do proper planning to take the risk of their
business venture. Social entrepreneurial venture are those who make appropriate plans, make
actual budget and then do the implementation of that plan to attain success. There are some

similarities as well as dissimilarities in the small business entrepreneur and social entrepreneur
ventures are:
Small business entrepreneur Social entrepreneurial venture
Similarities These both are the type of entrepreneurial ventures and they are operated by
the small scale entrepreneurs. In this employees having a good skills as well
as capabilities which assist in operating the business activities (Siegel and
Wright, 2015).
Dissimilarities  For these entrepreneur, success
is a main motive and to achieve
that proper financing along
with the business goals on the
basis of interest of shareholder.
 The mind set of business
venture is to maximise or
improve profit by doing best
business operations.
 To create the value appropriate
and best services are provided
by them to the employees so
that they can earn maximum
profit.
 For these entrepreneur main
motive is to the betterment
of society.
 The mind of social ventures
set according to the
members of community.
 In this they have to serve the
economic value to the
members of community
which create a positive
impact on the targeted
consumers so that they can
generate maximum profits.
Basis Female entrepreneur Male entrepreneur
Similarities Both the entrepreneur focuses on the development and for that they have to
provide the best and qualitative products and services so that they can earn
maximum profits and by doing proper operations these convert into the
large corporations (Belás and et.al., 2015).

Dissimilarities These enterprise are controlled by the
women. Moreover, they are having a
minimum financial interest of capital.
These business enterprise are
owned, managed as well as
controlled by man.
M1
In the public sector, social as well as lifestyle entrepreneurship are significant and
important in the public sector. These type of ventures helps in providing the maximum benefits
to the local people in the community. Private sector having a large impact in the economy and it
support the nation economy. These ventures having entrepreneurship on each and every section
on their work. In this scalable start up venture in includes which helps in doing appropriate and
qualitative work and attain financial targets. Entrepreneurial venture have to do proper wok so
that they can not face any problem in funding and reap their goals and objectives.
D1
According to Williams and Shahid, (2016), it was observed that entrepreneurial ventures
have their different sectors in which they are having different scope, development and growth.
Entrepreneurship having some differences in the distinctive sectors and they are performing well
to attain their goals and objectives. Every entrepreneur have to use innovative and create ideas
for improvements in the business so that they can reap growth by taking more risk. To do the
improvements, proper direction is to be provided which helps in accomplishing their goals and
objectives.
TASK 2
P3 Micro and small businesses impact on the economy
Small and medium enterprise having a positive impact in the business entities. In UK,
there are several start up companies which helps in enhancing the growth of the economy which
assist in covering the impact of Brexit on economy. By this UK improve their gross domestic
product rate and reap success in the competitive market. There are some factor which play a
essential role in growing the economy. They are:
Employment: When in UK many, companies are opening to remove the impact of Brexit. This
will help in removing the unemployment from UK. In UK, entrepreneurs are the person who
provide the different and more opportunities to those person who are unemployed and by that

employment is increased. Moreover, it helps in improving or developing the standard of living of
the different person in the economy (Lima and et.al., 2015).
Adaptability: In the present time, entrepreneurs of UK focuses on the technology. They are using
upgraded technology which helps in providing qualitative and best services as it succour in
attracting large number of consumers by providing qualitative services. It will helps in enhancing
the business and also improve the market position in the competitive market.
GDP rate get increased: In UK, many entrepreneurs start the business which helps in providing
the more employment to the person who are searching for jobs. This will enhancing the GDP
rate. Along with this it helps in attracting many other industries from the other country.
Exporting: By starting the small business organisation in UK it will give the contribution in
improving or enhancing the economy and by that they can do more exports in the other
countries. By this they can maintain the relationship with the other countries which succour in
improving the success in the market (Henry, Foss and Ahl, 2016).
By these start-ups, UK will improve the relations in the international market so that they
can reap their targets.
P4 Importance of the small business and business start up to grow in social economy
Brexit is a term which having a potential as well as hypothetical departure of UK from
European union. To remove the impact of Brexit from UK, many entrepreneurs start-up many
business entity so that they can make a positive contribution in the economy. Small business
enterprise is a business in which they start the business by taking more risk and generate
maximum revenue which will helps in growing the social economy (Program in
Entrepreneurship, 2017). These start up provides the innovative and creative products to their
consumers which helps in enhancing the overall growth. The importance or significance towards
the social economy are:
Employment rate: When start up companies in UK more employment to the person who are
looking for a new job or searching best job. It will enhancing the employment rate which aid in
reducing the impact of Brexit in UK and by that social economy can grow. By this disposable
income of people also increased along with the standard of living of the person (Thorgren and
Wincent, 2015).
Spending level: This factor is related with the income level of consumers. When the start up
companies providing employment then the consumers will purchase the produce by their own

choice which will help the business entities in attaining their goals and objectives and by that
they can generate more revenue and profits.
Innovation and technology: Staff members of the business entity have to use innovative and
upgraded technology so that they can provide innovative products to their consumers so that they
can reap their targets as well as leading position in the competitive market. Along with this it
helps in providing satisfaction level to their consumers which assist in generating maximum
profits.
Financial support: After the separation of UK from European Union, economy of UK got
decreased and by that many organisation can not generate maximum profits and revenues (Acs,
Szerb and Autio, 2015). So, regulatory bodies as well as banks have to provide their support by
providing funding to them so that they can grow their business.
M2
Small, medium and large business having so much differences. Small business are owned
managed and equity or funding are provided by the founder or family members. In this business,
decision are to be taken by the owner of the enterprise. In this short term planning needs to be
done. Along with this, business having a small consumers base. In medium organisation, owners
as well as professionals play a key role in enhancing the growth. In this, funds can be taken by
family members, friends as well as public. Decision can be made by the owners or some key
leaders. In large business, all the management done by professionals. Equity provided by the
public. Decision can be made by every person and also at every level which helps in attaining
targets.
D2
As per the views of Elert, Andersson and Wennberg, (2015), it was depicted that small
business having a impact on the economy and economy having different levels whether it is
local, regional, national as well as international. Along with this it helps in reducing the
unemployment rate in UK and improve the productivity of the workers.
TASK 3
P5 Characteristics, traits and skills of successful entrepreneurs
Entrepreneur is a person who take more risk which helps in improving the business and
by that they can generate more profit. Along with this they have to utilise the many opportunities

and have to make appropriate decisions for the betterment of the business entity. Moreover, they
have to do proper analysis and put more control so that they can do proper business activities and
reap their targets. One is Sir Charles Dunstone, who started their business in the telecom sector
which helps in connecting the different people in the whole world. He is the person who
launching new mobile by that any person can contact to another person. On the other hand, John
Caudwell is also started their business in the telecom sector and he also launched new mobile
with the new technology (Hobolt and De Vries, 2015). Both the entrepreneurs using innovative
skills as well as creativity and deliver the best and qualitative products to their consumers which
will helps in attracting the large number of consumers and attain their goals and objectives. They
have to attain their targets so they eliminate any distractions while they are doing the work for
reap their targets. Entrepreneur have to make appropriate plans and use strategies. Along with
this they have to outline the tactics so that they can accomplish their goals and objectives. Both
the entrepreneur have to do good work and also capture the opportunities with a full confident by
using their skills and knowledge which succour in attaining the leading position in the market.
Both the entrepreneurs are innovative thinker as well as open minded. So, they have to generate
new ideas by using their skills. Along with this Sir Charles Dunstone and John Caudwell are self
motivated and for attaining success in the competitive market, they put lots of efforts (Gielnik
and et.al., 2015).
In the entrepreneur and business manager having some differences. Entrepreneur is a
person who take more risk to generate maximum profit. On the other hand, business manager is
the person who take responsibilities so that they can put more control in the business activities of
the company. Entrepreneur is the owner of the business entity and focus on the start-up business
and also provide encouragement to their employees to attain goals. Where as business manager is
a person who hire by the owner of the corporation and he focuses on the control on the business
operations so that they can attain their goals and objectives (Phillips and et.al., 2015).
P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mind-set
Entrepreneur is a person who having a ability to do proper operations in the business
activity which helps in accomplishing their goals and objectives. They have to take more risk as
well as capture more opportunities which aid in generating more profit. They have to provide
their best skills as well as their experiences which helps in providing unique products to their

consumers and become successful in the competitive market. For become successful they have to
use their experiences along with this they have to provide the encouragement to their employees
so that they can do qualitative work. Moreover, they have to use appropriate strategies and
tactics so that they become successful entrepreneurs. From the above discussion, Sir Charles
Dunstone and John Caudwell both are the successful entrepreneurs which are the inspiration of
youths by their skills and characteristics (Link, Siegel and Wright, 2015). Bother the
entrepreneurs are innovative and creative and also they use innovative and upgraded technology
to provide best mobiles to their consumers. Sir Charles Dunstone and John Caudwell both
become successful in the telecom sector. Both are self motivated and full of determination which
makes them different from the others. Further, Sir Charles Dunstone has created a passion in the
minds of different entrepreneur and for that they have to continue the work which will helps in
attaining the goals and objectives. On the other hand, John Caudwell use the innovative and
upgraded technology and use their own minds. Along with this he is self motivated and open
minded which helps him to become successful entrepreneur. Both the entrepreneur have to set
their own minds and they are having a passion and spirit to do more work and best services they
have to provide to their consumers (Rauch and Hulsink, 2015). both the successful person have
to use their strength and have to capture the different opportunities which are generated in the
market so that they can accomplish their goals. Along with this they have to do effective
communication which helps in conveying proper message to their services users which succour
in improving productivity as well as proficiency.
M3
There are two successful entrepreneurs they are Sir Charles Dunstone and Lord Ashcroft.
Sir Charles Dunstone started their business in the telecom sector and start up capital is £6000 and
estimated fortune is £1.49billion. In this Charles began selling mobile phones out of his flat and
become largest independent mobile retailer. On the other hand, John Caudwell started their
business by £25,000 in the sector of telecoms and his estimated fortune is £1.5billion. In the year
1987, Caudwell get the awareness of the new technologies for making the mobile phones (Block
and et.al., 2015).
D3
Sir Charles Dunstone and John Caudwell both are self motivated and open minded which
helps them become different from the other persons in the market. They use their own skills as

well as experiences and also upgraded technology which helps them in making innovative
products to their consumers. they provide mobile phones which helps in connecting the people in
the whole world. Both are full of determination always focus on their goals and objectives. They
have to provide their qualitative services to their services users so that they can reap their targets
(Siegel and Wright, 2015).
TASK 4
P7 Impact of the background and experience on the entrepreneurship
Business as well as skills of entrepreneurship and experience affect the tendency of the
individual person to become successful entrepreneurs. Skills refers to the abilities as well as
capacity of the person who perform task demanded in the working environment. It helps in
managing people, dealing with the risk and uncertainty and also have to develop new products
and services. Each entrepreneur who start the business they are having their own background and
it also helps in maintaining standard of living. In the business, background as well as experience
play a adverse effect. If entrepreneur of the small business faces some conflicts related to finance
in their history then it will having a adverse effect in their present also. Along with this
entrepreneurs having a positive thinking which helps in becoming successful (Belás and et.al.,
2015). They have to use innovative ideas for the improvement and development which helps in
accomplishing their targets. Sir Charles Dunstone started their business in the telecom sector and
start up capital is £6000 and estimated fortune is £1.49billion. In this Charles began selling
mobile phones out of his flat and become largest independent mobile retailer. On the other hand,
John Caudwell started their business by £25,000 in the sector of telecoms and his estimated
fortune is £1.5billion. In the year 1987, Caudwell get the awareness of the new technologies for
making the mobile phones. If both the entrepreneurs having a experience in their life whether it
is good or bad. If it is good experiences then it helps in providing the motivation to them and
improve their positive thinking. It also helps in increasing the knowledge of the person and by
that they can put more efforts which aid in improving productivity and proficiency. If there is
bad experiences they have in their life then it provides the demotivation and it also affects the
decision making power of the entrepreneur (Williams and Shahid, 2016).

M4
Both the entrepreneurs are open minded and innovative thinker and also provide the best
products. If these person having bad or good experience in their life then it will help them in
attaining the goals and objectives. If they having good experience in life or they face any
financial crisis in their life then they can understand all the things when person facing any
problem related to finance and they put more efforts to remove them (Lima and et.al., 2015). If
both entrepreneur having good experience then this will helps in improving the motivational
level and by providing mobile phones by using innovative technology they can increase
productivity.
D4
According to Henry, Foss and Ahl, (2016), If entrepreneur faced any financial crisis or
poverty in their history, it having a influence on their consideration in finance then these
entrepreneurs are having a positive think for the below poverty level peoples which helps in
improving their business ideas and by that they can attain good experience. They have to provide
best, innovative as well as qualitative products which helps in attaining their goals and
objectives.
CONCLUSION
After summing up the above analysis it has been inferred that by their experience they
can make correct decisions for the betterment of the business entity. Entrepreneur have to do
more work and take more risk for the improvements or developments. They have to use
innovative thinking which helps in generating more revenue and also their targets.

REFERENCES
Books and journals
Acs, Z.J., Szerb, L and Autio, E., 2015. The global entrepreneurship and development index. In
Global Entrepreneurship and Development Index 2014 (pp. 39-64). Springer
International Publishing.
Belás, J and et.al., 2015. Entrepreneurship in SME segment: case study from the Czech Republic
and Slovakia. Amfiteatru Economic. 17(38). p.308.
Block, J.H and et.al., 2015. Necessity entrepreneurship and competitive strategy. Small Business
Economics. 44(1). pp.37-54.
Elert, N., Andersson, F.W and Wennberg, K., 2015. The impact of entrepreneurship education in
high school on long-term entrepreneurial performance. Journal of Economic Behavior
& Organization. 111. pp.209-223.
Gielnik, M.M and et.al., 2015. Action and action-regulation in entrepreneurship: Evaluating a
student training for promoting entrepreneurship. Academy of Management Learning &
Education. 14(1). pp.69-94.
Henry, C., Foss, L and Ahl, H., 2016. Gender and entrepreneurship research: A review of
methodological approaches. International Small Business Journal. 34(3). pp.217-241.
Hobolt, S.B and De Vries, C.E., 2015. Issue entrepreneurship and multiparty competition.
Comparative Political Studies. 48(9). pp.1159-1185.
Lima, E and et.al., 2015. Opportunities to improve entrepreneurship education: Contributions
considering brazilian challenges. Journal of Small Business Management. 53(4).
pp.1033-1051.
Link, A.N., Siegel, D.S and Wright, M. eds., 2015. The Chicago handbook of university
technology transfer and academic entrepreneurship. University of Chicago Press.

Phillips, W and et.al., 2015. Social innovation and social entrepreneurship: A systematic review.
Group & Organization Management. 40(3). pp.428-461.
Rauch, A and Hulsink, W., 2015. Putting entrepreneurship education where the intention to act
lies: An investigation into the impact of entrepreneurship education on entrepreneurial
behavior. Academy of Management Learning & Education. 14(2). pp.187-204.
Siegel, D.S and Wright, M., 2015. Academic entrepreneurship: time for a rethink?. British
Journal of Management. 26(4). pp.582-595.
Thorgren, S and Wincent, J., 2015. Passion and habitual entrepreneurship. International Small
Business Journal. 33(2). pp.216-227.
Williams, C.C and Shahid, M.S., 2016. Informal entrepreneurship and institutional theory:
explaining the varying degrees of (in) formalization of entrepreneurs in Pakistan.
Entrepreneurship & Regional Development. 28(1-2). pp.1-25.
Online
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