Developing Entrepreneurial Skills

DEVELOPING
ENTREPRENEURIAL
SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Different types of entrepreneurial ventures.............................................................................3
2. Similarities and differences between entrepreneurial ventures...............................................4
3. Micro and small businesses impact on the economy...............................................................6
4. Importance of small business and start-ups on the growth of the economy............................8
5. Characteristics traits and skills of successful entrepreneur......................................................9
6. Role of entrepreneurial personality in the entrepreneurial motivation and mindset..............10
7. Ability of context and experience to foster or hinder entrepreneurship................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Entrepreneurship and possession of its skills in an individual enables the conversion of dream
into reality. Entrepreneurship helps an individual to convert the idea into reality or actions
through the using of various skills like creativity, passion, innovation and various others.
Entrepreneurial skills also enable the entrepreneur to make the planning for the success and the
achievement of objective of the company. Entrepreneurial ventures may be in any form or size
whether small or big, private or social but their contribution towards the economy and country is
maximum which will leads to the growth and development along with achievement of success.
This report will highlight the concept of entrepreneurship along with the various types of
entrepreneurial ventures, their impacts over the business as well as in the growth of economy.
Apart from entrepreneurship the qualities and traits of a successful entrepreneur in addition of
the influence of his personality over the mindset and motivation is also being discussed in this
report.
MAIN BODY
1. Different types of entrepreneurial ventures
Entrepreneurial is the process of running, developing a business or company. People interest and
vision changed by time so according to their interest they operate their business. According to
people interest and skills or characteristics there different types of entrepreneurship ventures.
Different types of entrepreneurial ventures are as following:
Small Business Entrepreneurship:
This type of entrepreneurship is most common. Most of the people interested in small business
entrepreneurship. In this entrepreneurship people not expecting large scale profit. They choose
this kind of entrepreneurship to feed their family and for small profit. In this entrepreneurship
they have 9-10 employees and mostly they hire family members. In this type of entrepreneurship
mostly investment done by savings or by loans. Revenue generation in this kind of
entrepreneurship is very low (Diandra, and Azmy, 2020). Small business entrepreneurship
examples are such as grocery store, small boutiques, plumbers, tailors, home tutor etc.
Large Company Entrepreneurship:
In this type of entrepreneurship company has large life cycle. They also have professional and
skilful employees. In large company entrepreneurship they have at least 500+ employees. Its

goal is to generate large amount of profit and revenue for the company. Its investment is done
my different stakeholders and investors. Large companies' entrepreneurship are recognized by
with their brands name in the society. This type of entrepreneurship grow with by new
technology and innovation of the product. Example of Large company entrepreneurship are
Amazon, virgin, google microsoft etc.
Scalable Start-up and Innovative Entrepreneurship:
In this kind of entrepreneurship entrepreneurs always comes with innovative ideas, and they
believe that their idea can change the world. They receive funding from different investors, and
they hire sharp mind and specialized employees. They take ideas and work on it and turn it into
business ventures. In this kind of entrepreneurship entrepreneurs are motivated and passionate
for their dreams and ideas. In these entrepreneurs are expecting big profit fir their idea and
innovation. Example of this type of entrepreneurship are Facebook, Uber, Justpark etc.
Social Entrepreneurship:
In this entrepreneurship company focus on products and service which provide benefits to the
society. Thus type of entrepreneurship is non-profit they just want welfare of the society. They
try to solve social problems with their product or services. Its main objective or goal is to make
world better place. They are not work for big profit they are dedicated towards society and
working for social goods (Mrożewski, and Kratzer,2017). Social entrepreneurship examples are
the create foundation, datnall forum post office etc.
Entrepreneurial ventures relate to the typology of entrepreneurship
Typology of entrepreneurship in entrepreneurial venture is generally described the types of
entrepreneurship according to their basis. It also helps different types of entrepreneurship such as
intrapreneurs, small business, large business etc. to divide into particular categories for example
social and technological entrepreneurs. There are different types of typologies such as craftsman
entrepreneur, independent entrepreneurs, opportunist entrepreneur these typologies relate with
entrepreneurial ventures and help them in market growth and in orientation.
2. Similarities and differences between entrepreneurial ventures
Small Company
Entrepreneurship
Scalable Company
Entrepreneurship
Large Company
Entrepreneurship
Social
Entrepreneurship