Entrepreneurial Ventures and Their Relation

Added on - Dec 2020

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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various kinds of entrepreneurial ventures and their relation with typology.....................1P2 Differences and similarities between entrepreneurial ventures.........................................2TASK 2............................................................................................................................................4P3 Relevant data to understand influence of small enterprise on economy...........................4P4 Contribution of small businesses and start ups on social growth......................................5TASK 3............................................................................................................................................7P5 Traits and skills of successful entrepreneurs.....................................................................7P6 Aspects of Entrepreneurial Personality.............................................................................8TASK 4..........................................................................................................................................10P7 Ways in which background and experience hinder and foster entrepreneurship............10CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurship is a person with different ideas is an corporate entity as well asentrepreneur which they are operating is to be known as business. Procedure of running aenterprise by an entrepreneur is called as entrepreneurship. Their are various ways in whichdifferent ideas can be used in the process of production, process of sales and distribution etc.Important benefits of entrepreneurship is that it allows enterprise personnel for meetingcompetitors advantages which help in making a marketplace stronger than rivals in business.This assignment is based on Wiser Co. which is a recruitment and creative company as well asgive dynamic and young persons to a platform where they can dream higher to achieve allachievements which they can meet in their lifetime(Ács, Autio and Szerb, 2014). In this reportthey have also discussed about various kinds of typologies along with that similarities anddifferences within entrepreneurs ventures.TASK1P1 Various kinds of entrepreneurial ventures and their relation with typologyMajor entrepreneurs anxiety is to have a proper numbers of workers who able to work alltasks efficiency as well as various employees should be perfect mean that it should not be so lesswhom they will not able to achieve all benefits along with that not so large which may increaseprice within a limited period of time. Fixed numbers of workers are help in achieving all benefitsby doing all tasks in a very profitable way. Some of ventures is related to sole proprietorship areas follows:Small business enterprise:These ventures begins by a particular peoples for satisfyingrequirements of family members as well as himself. Companies examples are plumbers,owners of grocery shops, painters etc. these persons operate their industry for fulfillingtheir requirements. Small scale business are interrelated with others typologies ofenterprise(Bae and et. al., 2014). They are those personnels who give their efforts in thisbusiness for achieving a better advantages of financial and higher market share. Theactivities which makes an business successful by satisfying the requirements ofcustomers by providing them quality of products and services along with that its mainreason behind it is manufacturing a different items as well as facilities for achieving1
buyers satisfaction at a higher level. Either profits or loss to a business will be ofentrepreneur itself.Scalable Start-Ups Entrepreneurship:These business take a growth as per time goes.When a people run these kind of companies then it means entrepreneur will able to earnmoney from different sources. Most important concern of these business are to improvesociety level by providing extraordinary quality of services and goods. All the activitiesof enterprise are depend on financial resources as well as it is needed from businessmanthat he have to arrange proper amount of finance for organising all activities in a perfectway due to having a lots of risk in these types of ventures which is not bearable byeveryone.Social Entrepreneurship:Important purpose of these kind of business are to providegood quality of services and goods to society as well as these business also have tofacilitate the members of society in increasing their standards of living by givingopportunity of employments to dynamic and young personnels from total population.Facilities can be anything like as education to those peoples who are not having properresources of finance.Types of Topology- The different kinds of Entrepreneurial typologies are :-Lifestyle Ventures – These kind of enterprise provide immediate profits to industry. Theymainly likes to work alone(Baum, Frese and Baron, 2014).Survival Ventures – These are kinds of enterprise which is began just to earn a livelihoodfor family. It is mainly a small enterprise which can be in a form of internet cafe, Grocerystore, barber store etc.Managed Growth Ventures: These are the enterprises that is operated by a smartenterprise man as they knows how to generate money. The person who invest in companyknows that there finance will not waste as well as they will generate profits.P2 Differences and similarities between entrepreneurial venturesThere are different kinds of entrepreneurial business that are operating within society . All theseare efficient and effective way. They all are having some similarities along with that they arevery different from one another. So, the differences and similarities are represent between thekinds of entrepreneurial business are as follows:SIMILARITIESLifestyle VenturesSocial Entrepreneurs2
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