P.1 Different Types of Entrepreneurial Ventures

Added on - Nov 2020

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Entrepreneurship
Table of ContentsINTRODUCTION..........................................................................................................................1TASK 1...........................................................................................................................................1P.1 Different types of entrepreneurial ventures and their relation with typology.................1P.2 Similarities and differences between different kinds of entrepreneurial ventures...........3TASK 2............................................................................................................................................4P3 Assessment and interpretation of data to analyse micro and small business impact on theeconomy.................................................................................................................................4P4. Importance of small business or start up in social economy after Brexit........................5TASK 3............................................................................................................................................6P5. Determination of characteristics, traits and skills of successful entrepreneur.................6P6. Identify various aspects of entrepreneurial personality....................................................7TASK 4............................................................................................................................................9P7. Background and experience that can foster entrepreneurship..........................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurship is the process in which new and innovative ideas are generated and caneasily develop creative ideas. It assists the organization to sell unique products to users. It resultsin increasing the satisfaction level of firm. This helps the company to enhance the revenues andcan enhance the market share(entrepreneur, 2018).Hence it can expand their operations andtask in various countries Assignment describes about a successful entrepreneur Joe Woods andthey had started a IT business. They sell online credit and debit cards to all companies. Reportexplains about range of entrepreneur ventures and different types that are consideredentrepreneurial. It also explain about the evaluation of impact of small business on economy. Italso describes about the assessing the key aspects of entrepreneurial mindset. It also discusesabout the evaluating different environment that can foster or hinder the entrepreneurship.TASK 1P.1 Different types of entrepreneurial ventures and their relation with typologyEntrepreneurship:It is the process through which a person creates innovative strategiesand policies. It helps the company to effectively manage all activities and operations. Soorganization can earn huge revenues. Hence it results in growth and development of firm.Different types of entrepreneurial ventures:There are various entrepreneurial ventures which are operated by a single person. Theytake huge risk so that enterprises can earn huge revenues (Jaskiewicz, Combs and Rau, 2015).All ventures are completely different from each other and has various objectives. Hence theyoperate their activities and function sin different manner. Different types of entrepreneurialventures are described below:Large entrepreneurship:It is kind of entrepreneurship which includes maximumamount of funds and risk so that they can operate all their activities and operations(Arend,Sarooghi and Burkemper, 2015). Thy use innovative and creative technologies and legislationsso that they can easily increase the satisfaction level of all customers. It also helps in creating thesuitability in the business.Social entrepreneurship:In this organization creates new plan and policies so that theycan give contribution to social activities and operations. This is done so that they can givesolution to problems and issues of all people. These business are not created for performing
activities and operations bur they ate started to perform activities so that they can help the poorpeople. Enterprises can give funds to charitable institutions so that company can assist theseinstitutions.Scalable start ups entrepreneurship:These business have potential and capabilities tobecome successful entrepreneurs. Main objective of these entrepreneurs is high and they believethat they can perform activities and operations if there any changes in company. It involvemaximum risks and revenues(Boh, De-Haan and Strom, 2016).These enterprises are to befunded by crazy capitalist which can take huge risk and wants to earn more profits. Mainobjective is to make changes and to modify the universe by creating innovative ideas andthoughts. These business need huge fund as then only they can operate their activities.Small business entrepreneurship:It involves different tasks and various functions inwhich staff members are less than 50 and it has turnover of 6.5 billion. It needs less amount ofcapital and less risk so that business operations and activities are effectively and efficientlymanaged. Small business such as consultants, plumbers, electricians and agents etc.Typologies of entrepreneurship:There are different companies which are available and they delvers their products andservices of that they can develop the society(Henrekson and Sanandaji, 2014). Main objective isto satisfy the needs and wants of all people. It also leads to growth of economy. Typologies aredescribed below:Serial entrepreneurs:These entrepreneurs starts a business and after the successfulrunning of business, then they start the new venture. It also includes different enterprises whoexist with the innovative plans and policies This helps to run their activities and operationseffectively and efficiently. In day to day activities and proper and efficient functioning,entrepreneurs can give their full efforts and dedication. Main objective is to earn huge revenues.They are related to buis entrepreneurship ventures.Lifestyle ventures:It is a small company that administers and control, independenceand control the company. Main objective is to attract many people and there is optimum andeffective utilization of all resources. It also helps in giving the flexibility in meetings, seminarsand other places(Henry, Foss and Ahl, 2016).Main objective is to earn huge revenues for theirliving and they can earn livelihood by becoming an entrepreneur. It can be related to smallbusiness entrepreneurship.
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