Entrepreneurial Ventures and their Impact on Economy and Society

Entrepreneurial ventures
INTRODUCTION
 Entrepreneurship is the
process to set up the
business by accepting
all business related
risks. Which can be
related to finance,
management etc.
 Entrepreneurial venture
has different
organizational structure.
Different types of entrepreneurial ventures and
relate to the typology of entrepreneurship
Small business entrepreneurship:
 Small business is mostly start up business and
owners run them.
 Employees in small business are less and these
companies also generate less revenue.
Scalable Start-up entrepreneurship-
 In this business entrepreneur starts their
business with new and innovative idea and
owner completely focus on innovative
products and services.
Large company entrepreneurship-
 As the name suggests large company which
means that they are big in size.
 These companies also concentrate on
producing new products and services for
customers.
Typology of entrepreneurship
Survival firms-
 Small businesses come under survival firms
because they have to work hard for survival.
 As they receive massive competition from
large companies. So their survival is not easy
in the market for longer time period.
Social enterprise-
 These include those companies or firms which
manufacture goods and services for the sake of
society.
Managed growth firm-
 Scalable start-up can be considered under
managed growth firms.
 These firms have potential to grow in the
future because from starting only they are
focusing on innovation.
The similarities and differences between
entrepreneurial ventures
 In small entrepreneurial venture goals are
not properly defined but they work hard so
that to achieve less profits and growth.
 In scalable entrepreneurial venture their
objective is to provide innovative goods.
 Large companies want to sustain for
longer time by producing new products
and services like Mckinsey.
 Social companies help society to become
better place is the main objective of this
company.
 Although the risk in small business is low
but they have high competition (Birley
and Stockley, 2017). In scalable business
risk is high as it requires high investment
but competition is low.
 In large companies risks are medium
because they sell in high volume but they
experience high risks. Risks in social
entrepreneurial venture is low because
these companies gets support from
government and from various agencies.