Entrepreneurial Venture: Types, Impact on Economy, and Characteristics of Successful Entrepreneurs

Entrepreneurial venture

INTRODUCTION
Entrepreneurial venture can be define as the organization where the innovation and opportunity
generation is done by the entrepreneurs in order to maximise the economic growth and
development in the country. They works for the growth of countrywide and international
financial system by the use of innovation and development in the business. This venture firms
focus on providing growth to the business so that fulfilment of business needs and demand can
be done by the business person. Starting a new business that make change in the current situation
and helps the organization with the utilize of effectiveness, and proficiency of the commerce in
the marketplace. this report is based on the New Moon, it is a charitable organization that helps
the firms and start up company to secure loan with the angle investors. This report includes
information about different types of entrepreneurship venture and explanation of how they relate
with each other. Also this includes information about similarities and differences between the
business ventures. Also this includes impact of the small businesses on the economic growth.
further this includes, determined and interpreted the key aspects of an entrepreneur mind set. In
the last it comprises information about dissimilar environment that foster or hider
entrepreneurship.
MAIN BODY
TASK 1
P1 Types of entrepreneurial ventures and how they relate to typology:
Different types of businesses have diverse kinds of commercial venture that helps their
business towards the improved enlargement and enhancement of the goals and aims in most
efficient way. Different types of entrepreneurship venture works in different manner to analyse
the market growth of business and rate of effective profitability that business can gain from the
effective outcomes of the business venture. They works for the betterment and future growth of
the organization so that effective outcomes can be achieved in the business in most effective
manner. below is different types of entrepreneurial venture is explained:
Small business entrepreneurship: this businesses are privately owned by the independent
individuals that works for the betterment of future growth and proficiency of the business in the
market. According to this entrepreneurial venture they run the small business for the profit
maximisation purpose for the effective development of the sources of the business that provides
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effective growth and profitability to the business. Small business owners focus on making place
in the market and promote their business so that effective outcomes can be achieved. for the
better future growth they ensure that they provide the effective quality of product and services so
that proper growth can be achieved.
Larger business entrepreneurial: This business venture includes high rate of business
revenue and capital investment that helps the business in effective growth and enhancement of
the business objectives. This business works for providing effective services to the customers
and raise the stage of customer base in the marketplace. providing high quality manufactured
goods and services and enlarge the stage of client loyalty is main motive of the businesses to
expand their market growth and enhancement of the services they prefer. Larger businesses focus
on the profit maximisation so that their business can gain competitive advantages in the market.
in lager business there is huge competition that business deals with the high level of profitability
and growth in the market.
Entrepreneurship and their interrelation with the typologies:
Serial entrepreneurs: These are the entrepreneurs that starts business in very short period
of time and involve innovativeness and features of the business venture to explains the better
growth in the market. they make business ideas which is not introduced in the past and now they
want to change their venture capital with the use of effective sources of information. This
entrepreneurship is associated with the high level of risk in the business venture and chances of
failure in the business venture. Elon Musk is the example of serial entrepreneur that works for
the change in the business venture and develop new innovation and growth of business in the pre
existing market.
Social entrepreneurial: This typology of entrepreneurship explains the individuals that
work for the social benefits or social purpose. They focus on the effectiveness of their product
and services that helps the change in the society and development of the benefits for the society.
The main motive of the business is to create change by achieving the needs and demand of the
customers. In this business venture is linked with the benefits of the society to development of
the resources. There are different types of the business that focuses on the development of
effective sources gathering so that effective outcomes can be achieved.
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