Examining Different Type of Entrepreneurial Ventures
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Added on 2020-10-22
Examining Different Type of Entrepreneurial Ventures
Added on 2020-10-22
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ENTREPRENEURSHIP
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11. Examining different type of entrepreneurial ventures that relates to typology ofentrepreneurship...............................................................................................................................12. Exploring similarities and differences between entrepreneurial ventures...................................33. Analysing the impact of micro and small business on UK economy..........................................4P4. Explaining the importance of small business and start-ups in contributing to the growth ofsocial economy after 'Brexit'..................................................................................................6TASK 3............................................................................................................................................6P5. The main characteristics, traits and skills of two successful entrepreneurs.....................6P6. Accessing the personality of entrepreneur which leads entrepreneurial motivation andmind-set..................................................................................................................................9TASK 4..........................................................................................................................................11P7. Examining how background and experience can hinder or foster entrepreneurship.....11CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONAn entrepreneur is business leader who looks for an idea and puts them into effects tomake his vision into a successful business. Report will show a deep insight about theentrepreneurship and entrepreneur. The present report includes Cocoon Technology. Further,report will depict about the similarities and differences between entrepreneurial ventures. Studywill also discuss about micro and small enterprises impact on the UK economy The report willinclude the detail about contribution of SMEs to the UK economic growth after Brexit. Further,report highlight the characteristics and skills that should be in an entrepreneur with example oftwo successful entrepreneurs. Study will discuss about the entrepreneurial motivation and mind-set to become a successful entrepreneur. Reports will include the description about factorswhich can hinder the entrepreneurship.1. Examining different type of entrepreneurial ventures that relates totypology of entrepreneurship.The act of developing and managing business venture in order to make profit bytaking all responsibility of risk if may occur in corporate world is entrepreneurship. The personwho is willing to start a business by himself is entrepreneur. Entrepreneurship plays a significantrole in economic development of country in global marketplace. Entrepreneurship is the mostcreative and innovative approach towards a business. An entrepreneur does all activities thatmanage, organize and lead the employees to achieve the organisational goals. Following are thedifferent type of entrepreneurial venture:Large Corporation Entrepreneurship: Large companies have long life cycle. Big-scaleentrepreneurship mostly grows through sustaining innovation, offering new products in marketwith their core goods. (Drover and et.al., 2017). The large corporation always subjected to highcompetition, hence it is important for them to come up with new and innovative for theirproducts and services according to the changing business environment and trends that could bedone by an entrepreneur who has innovative and creative ability.Small business Entrepreneurship: n small businesses UK has an immense rate of start-ups.There is tremendous froth of small business start-ups in UK (Morris and et.al., 2018). In UK thesmall business entrepreneurship is contributing to more than 19% in employment. Small business1
includes local and regional supermarkets, grocery stores, travel agents etc. these are the one whoruns their own business or hire local people or family members. Most are hardly profitable, asthey cannot attract the scale to venture capital. Small business is mostly funded through familyearning or by taking funds from friends or by taking small business loans.Scalable start-ups entrepreneurship: A scalable start-ups business is started with an innovativeidea that focuses more on the quality and creativity of the business (The Role of Start-ups andSmall Businesses in Today’s Economy, 2018). They hire the best employees who has thecapabilities to work in the most innovative manner to contribute in the vision of the company.The majority of the revenue generated from start-ups are invested into software development.Mark Zuckerberg's Facebook is one of the best example of scalable start-up entrepreneurship.Social entrepreneurship: Social entrepreneur focuses on creating products and services that canfulfil the need of customers which can solve their problems. Their goal is to make the world abetter place, not to increase the market share of the business or generating revenue. Socialentrepreneurship works to increase effectiveness and efficiency of the society and environmentand for the development of population.Cocoon Technology limited provides software solution and services to business. It wasincorporated in 1981, headquarter in London, UK. Cocoon Ltd is a start-up corporationentrepreneurship.There is different typology of entrepreneurial ventures:Large scale Entrepreneurship: Graff Diamonds, UK is the large diamond sourcing and miningcompany. Virgin Groups, UK founded by Richard Branson includes many other companies likeVirgin mobile, Virgin Airways, Virgin Megastores etc., Arcadia Groups Limited is one of thehighest retail companies in UK and Asia.Medium scale Entrepreneurship: Crawford Healthcare UK based deals in wound-care products.Trak Global Group is an emerging telematics supplier company.Scalable start-ups entrepreneurship: Uber cab services are start-up successful entrepreneurship.Ekif.com, Jordan etc. 2. Exploring similarities and differences between entrepreneurial ventures.The differences between different types of entrepreneurial ventures are as follows:2
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