Business Management: Entrepreneurial Ventures, Impact of Small Businesses, and Entrepreneurial Mindset

Business Management

Table of Contents
INTRODUCTION...........................................................................................................................3
ILLUSTRATE THE RANGE OF VENTURE TYPES THAT MIGHT BE CONSIDERED
ENTREPRENEURIAL....................................................................................................................3
Different types of entrepreneurial ventures.................................................................................3
Similarities and differences between entrepreneurial ventures...................................................4
IMPACT OF SMALL AND MICRO BUSINESS..........................................................................5
THE KEY ASPECTS OF AN ENTREPRENEURIAL MINDSET................................................7
Characteristic traits and skills of successful entrepreneurs.........................................................7
Entrepreneurial motivation and mindset......................................................................................8
DIFFERENT ENVIRONMENTS THAT FOSTER OR HINDER ENTREPRENEURSHIP........8
Background and experience can hinder or foster entrepreneurship.............................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
Business management is regarded to be one of those entities in which there are certain operations
that will have to be performed. It is said to be one of the biggest formulations in every
organisation that will bring about different operations into existence. An organisation is bound to
be one of those prospects which is more oriented with the kind of knowledge as well as the
circumstances that are a part of inhibiting the policies which are necessary. There are certain
types of organisations as well as entrepreneurial venture that will fall in regard to various
similarities and differences (Cherunilam, 2021). The entrepreneurial opportunities and brought
about by all the speculations as well as the approaches that are a part of understanding the
corporate sector. The business has evolved as a dynamic approach and will bring about all the
impacts that are in regard to the organisation. Whatever be the circumstances, the entrepreneurial
mindset will portray upon things that will see future in a different aspect. A business that is
oriented with entrepreneurship is more entitled with the values as well as ethics because it is just
started as a concept and will move ahead with all the ideologies of a business orientation. This
report will bring about all the formulations that are a part of research on business management
and entrepreneurial abilities. The determination of various components that fall in regard to this
particular aspect has been portrayed and which is also being explained upon critical examination.
ILLUSTRATE THE RANGE OF VENTURE TYPES THAT MIGHT BE
CONSIDERED ENTREPRENEURIAL
Different types of entrepreneurial ventures
Entrepreneurial ventures are said to be those targets that are brought about by various period in
the organisation that will also try to motivate the organisation with regard to the financial gains
and profits. It is said to be one of those targets that will have to be achieved organisation such
that the growth as well as the shares that are oriented in the organisation can create a high value
in the market. Entrepreneur is the one who is innovative and thoughts and ideas are oriented in
such a way that the organisation or the business that is being run by the entrepreneur will flourish
with the so-called profits (Hrechyshkina and Samakhavets, 2019). The different types of
entrepreneurial ventures in this regard are as follows:
Social Enterprise: social enterprise is one in which the services that are rendered to the society
are included. The aims and objectives that are in regard to the organisation will contribute for the

demands that are to be satisfied. There is a purpose and an action that is incorporated in the
cooperative societies of this particular enterprises.
Large scale businesses: these are regarded to be that particular organisations in which there will
be a huge amount of capital and investment. It is a different scenario from that of small scale
businesses and it is also determined to be one of the best processes that will involve a number of
scalable solutions.
Small scale business: the small scale businesses are those that are being run by individuals or
small enterprises that include activities which include plumber, carpenter etc. There are certain
small characteristic that are in regard to this particular Enterprises and their investment is
determined by the savings and their own money.
Startup Ventures: The start-up Venture are small businesses that is opened up on a particular
theme and are also represented by various processes. There are many risks that are oriented with
Startups and also the provision of financial assistance is said to be gratified by the investors
(Contractor and et.al, 2020).
Similarities and differences between entrepreneurial ventures
Similarities: one of the major similarity that will fall in regards to all the venture types is that
they focus upon value. Value is said to be one of the favourable entity that is being ratified by
people all around. The Marketplace is immense and it is also composed of different type of
opportunities and therefore the most important similarity for all the types of entrepreneurs is
creating value. This value delivering concept is said to be one of the crucial component while
dealing with the circumstances and it is also determined by entrepreneur strategies and
ideologies. The other similarity that will usually coin side with the prospect of small businesses
as well as the moderate businesses is the element of innovation. Innovation is one of the
spectacular means and every entrepreneurial activity is usually dealt with the prospect of
innovation. Without innovation thought and ideas there will not be any business that is existing.
The essential ventures that are a part of innovation ideas are said to be maximized by the kind of
essential features that are being developed by the organisation (Belas and et.al, 2019). This
innovation ideas are also derived by the values which are created by people all around. The
businesses are oriented with certain framework as well as the strategies that usually comprise of
innovation as their major idea. In order to derive the potential up to which the organisation can
move ahead in bringing about the products innovation will be the considerable approach.