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Assignment: An Introduction to Entrepreneurship

   

Added on  2020-10-22

9 Pages2653 Words170 Views
Leadership ManagementEntrepreneurshipProfessional DevelopmentDesign and Creativity
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Entrepreneurship
Assignment: An Introduction to Entrepreneurship_1

Table of ContentsINTRODUCTION..........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................6..........................................................................................................................................................6REFERENCES................................................................................................................................7
Assignment: An Introduction to Entrepreneurship_2

INTRODUCTIONEntrepreneurship is an art to design ,develop ,launch and manages a new business byaddressing all the financial and non financial risks in order to earn adequate amount of profit. Anentrepreneur is an individual who runs the business ,often be a small business initially with thegoal of achieving his or her desired objectives. An objective may vary from organisation toorganisation. The following study gives you a brief introduction of entrepreneurship ,Richard Bransonthe entrepreneur who had started his venture at an early age with a small businessentrepreneurship and then founded Virgin Group,large company venture where 400 companieswere under him ,and further it will explain the different types of entrepreneurship ,skills anqualities of entrepreneur in detail (Burns, 2016). Present study will explain challenges andrewards of entrepreneur. Furthermore, it will describe importance of entrepreneurship ineconomy and social economy. MAIN BODYEntrepreneurship Entrepreneurship can be described as the process or capacity to develop a newbusiness ventures by an individual in order to make profits. Entrepreneur's is an individually whodesign,launch and manage the business and is liable for the financial risk in the hope of earningprofits. Entrepreneurship also refers to an art or science of innovative thinking and risk taking inbusiness in order to make profits. In today's era ,the Majority of the market is covered with smallbusinesses, In fact 99.7% of people in US are small business entrepreneurs. Types of entrepreneur ventures Entrepreneurship consists of three types : Small business entrepreneurship,Largecompany entrepreneurship and Social entrepreneurship. Small business entrepreneurship is the process of running a business venture on a smallscale with the aim of earning minimum profit margins in order to fulfils the basic need of theirfamily. Small business enterprises are owned and operated privately ,with the minimum numberof employees and low sales volume. The entrepreneur Richard Branson had also started hissmall business entrepreneurship at the age of 16.Large company entrepreneurship refers to the companies that runs on a large scalewhich offers innovative products that are difference from their existing products. Large companyenterprises have more number of employees with larger resources and are liable to higher risks.The aim of large company entrepreneurs is to sustain their market share by providinginnovative products through new technologies to their customers in order to earn high profits.
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