Brexit and Its Impact on UK - Report
Added on -2020-07-22
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ENTERPRENEURSHIP
ContentsTASK-1.........................................................................................................................................................3P1 Entrepreneurial ventures and their relation with Typologies.............................................................3P2 Similarities and differences between entrepreneurial ventures.........................................................4TASK-2.........................................................................................................................................................6P4 Small business and business starts up contribution in growth of the social economy.......................8TASK 3..........................................................................................................................................................9P5) Characteristics and skills of entrepreneurs........................................................................................9P6) Reflection of entrepreneurial personality on motivation and mind set..........................................12TASK-4.......................................................................................................................................................12P7 Background and experience can hinder or foster entrepreneurship................................................12REFERENCES..............................................................................................................................................14
INTRODUCTIONEntrepreneur is a person who derives the business risk associate with their business and has a capability to generate returns on that risk. He always comes with new ideas and thoughts and by using that ideas and thoughts during establishment and operations, so which helps them to conduct their operations in successful manner. In today’s world the large number of small business are present and each of them plays down a vital role under the countries growth and development (Cherny, V.V. and et.al., 2016). They also improving the education, employment and economic sector of the country and make them effective at the higher level. The present report is based on BREXIT and how the UK has been exit due to that and it also impacted on its monetary performances.Moreover,the different types of typologies have been discussed in favor different entrepreneurs which been operated and conducted their operations under UK in effective manner. More than that it also tells about the ideal entrepreneur and their mindset which helps them to conduct their operations.TASK-1P1 Entrepreneurial ventures and their relation with TypologiesThe entrepreneur is a person who have an ability to take the risk and earning returns on that risk and he comes with the ideas, thoughts and intentions and carries their business operations in that significant manner which helps them to earn down growth and profitability. He comes in the market to take down risk and generate returns on that and before conducting out operations they arrange down finance which helps them to start their business (Dooley and Kenny, 2014). The various types of entrepreneurial ventures are at present and all of them working and conducting their operations at various levels and they are social ventures, scalable ventures and small level ventures and all of them comes with different ideas and thoughts and performed their functions accordingly as per the mission and vision. They are been discussed in following manner and theyare as follows:Small business: It essentially works on smaller level and they operates their business activities and performing it accordingly so that which direct made an positive impact on the country growth and development and also helps down the UK in improving their positions and also develop down economy sector under UK. It generally involves such person who has unique think inking and different mindset which helps them to conduct their operations.Scalable business: They essentially set up to create down any business and made them expand their operations on the basis of innovation and creative thinking. It involves risk for the business during their operations which essentially based on the new product whichthe company is created in order to attract their user towards it.
Large company business: They work on greater level and these business essentially set upfor making down investment activity which essentially helps down the business in achieving their goals .In such business activity the ventures investing time to time under the new activity in terms of machines, technology and so on which helps down business in raising their objectives and also improve their functioning and performances in more effective manner. For instance, the company made an investment under the purchasing ofnew machinery which helpful for the business in raising their objective and also helps them in improving their functioning and lead the business towards the growth and development and also expand their business activity across the various nations.Social entrepreneurship: These ventures are essentially set up for social cause. The idea behind such business is not to earn down profit but to provide services to the people who essentially help down the country in terms of growth and development under social sector. The company conducting various programs and on that basis they raising funds in form of charity, gifts, and donations and utilising such amount in field related to the employment, education sector so that person can improved their skills and also they don’thave to depend on others for survival. The various entrepreneurship that set up their business activity for the social cause and they are NGO,trust,charitable institution and such business objective is not to earn down profit and growth but they essentially set up with the idea of providing services to the person which helps them to meet their requirements.Entrepreneurship typologies-The different types of ventures are set up their business operations under UK and in that regard the certain typologies have already been described. Moreover, it also tells that before conducting any sort of operations under entrepreneurship business it is essentially important for the individual having knowledge and ideas regarding their business operations that they are going to conduct and on that basis he can achieve their objectives and improve their performances and also create positive impact on the economy ofthe country. In that course, the various idea and thoughts are generated by various business person and all of them working accordingly to meet down objectives and also improving their functioning which directly helps them in raising profits and productivity.P2 Similarities and differences between entrepreneurial venturesEntrepreneurship is a business which involves risks and entrepreneur is a person who has an ability to take down risk and earning returns on that. Different entrepreneur are there and each of them working differently as per their ideas and thoughts. Such business persons not only raising achieving their targets but their operations also impacted on the country’s growth and development in terms of positive manner. They also improving the nation position and also give a healthy competition to its competitors. All of them established their business operations in such a manner which helps down the country in their economic growth
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