Assignment On Entrepreneurial Ventures & Typologies Of Entrepreneur
Added on 2020-02-05
15 Pages4702 Words75 Views
ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................4P1 Different types of entrepreneurial ventures and relation to typology of entrepreneurship....4P2 Similarities and differences between entrepreneurial ventures.............................................5P3 Impact of micro and small business on economy..................................................................7P4 Importance of small business and start-ups in in growth of social economy........................8TASK 3............................................................................................................................................9P5 Characteristic, traits and skills of successful entrepreneurs...................................................9P6 Aspects of entrepreneurial personality reflecting entrepreneurial motivation and mindset....................................................................................................................................................11TASK 4..........................................................................................................................................11P7 Background and experience which can hinder or foster entrepreneurship..........................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................14
INTRODUCTIONAn entrepreneur is a person who bear all the market risk and start a new business with amotive to introduce some new trends at market with only one desire which is profit. It leads tointroduce many new opportunities in market by grabbing them all (Storey and Greene, 2010).Hence an entrepreneur is person who takes the initiative after that entrepreneurship is an activitywhich get done by a particular and at last the ending result is consider as enterprise. This presentassignment is based on different entrepreneurial ventures and their relation with varioustypologies of entrepreneur. Moreover by introducing many new job opportunities at marker placethis lead to made a vast impact on economy through which country can grow. Along with allthese things this study become more understandable with the help of using example of variouspersonalties that how they manage all barriers which come in their path. TASK 1P1 Different types of entrepreneurial ventures and relation to typology of entrepreneurship.An enterpriser is a person who takes initiatives and starts there concern in order to makeprofits out of it. They are the individuals and group of personalities who takes initiatives for
start-up of new businesses and works on various activities to develop their entity. There arevarious types of entrepreneurial ventures started by these personalities. The different types ofventures and its relation to typology of entrepreneurship are described as follows:-Serial entrepreneurial venture: - These business firms are generally run by thoseindividual who set up their own business at first and after setting it up completely theymove on to another business (Burns, 2010). They are helpful in increasing the economicgrowth as they are helpful in conducting many business firms at one time and providejobs for taking care them to many personalities. Lifestyle entrepreneurial venture :- These form of enterprises are run by thosepersonalities who just want to attain a particular lifestyle (Stokes, Wilson and Wilson,2010). Their working scale is limited in nature and their growth criteria is also fixed.Their main motive is just to ascertain a particular level of lifestyle which they want toattain in their whole life form. This factor signifies that their working pattern is differentfrom other and they never work in favour of society as well.Social entrepreneurship :- The entrepreneur which provides the products and servicesfor social needs and wants of targeted market is referred as social entrepreneurship. Theseventures work for elimination of social problems from society and supports indevelopment. These organisations are generally owned by individuals and group ofpersonalities of society or it may be owned by government bodies of a country. Abusiness generally does not functions for making profits from the products and servicesprovided.The different typology of entrepreneurs and their relation to the various entrepreneurialventures are describes as follows:-Copycat entrepreneur:- The copycat entrepreneurs are personnels who copy business ofother and starts business as it is. The styles, products and services are copied same tosame of other organisation. These typology of entrepreneurs have direct relation withsmall business enterprises. The small ventures are generally started by copycatpersonalties.Research entrepreneur:- The individuals who makes the complete research beforestarting their new business are referred to research entrepreneurs. These kind of personnel
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