Entrepreneurial Ventures: Exploring the Concept of Entrepreneurial Mindset and Its Contribution to Ventures

Entrepreneurial ventures

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Explaining what it takes to an entrepreneur and discussing the scope of entrepreneurship
ventures........................................................................................................................................3
Traits and characteristics associated with entrepreneurship........................................................4
Evaluating similarities and the differences between different enterprise ventures .....................6
Exploring the concept of the entrepreneurial mindset and its contribution to entrepreneurial
ventures........................................................................................................................................7
Determining the number of ways in which entrepreneurial mindset can be encouraged and
what it can bring to a new venture...............................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

EXECUTIVE SUMMARY-
The report highlights concept of entrepreneurship ventures. Entrepreneurs are the individuals that
starts entrepreneurship ventures and has ability to take risk in the market. The report also include
the need as well the scope of entrepreneurial ventures. Along with this the report addresses the
entrepreneurship mindset with traits and the characteristics that are associated with
entrepreneurship.
INTRODUCTION
Entrepreneurship ventures are defined as the process of starting any new business or tendency to
do something creative in business ventures. Entrepreneurship includes innovations and the
creativity, risk taking characteristic of entrepreneur and the organization management. The
famous enterprises include companies like Tesco Plc, Walmart, Amazon. Microsoft etc. In
today's growing business environment every country needs good range of enterprise ventures. In
these report we are going to see the need and scope of entrepreneurial ventures, and we will
explore the concept of entrepreneurship mindset further in this report, we will see the traits and
the characteristics associated with the entrepreneurship.
MAIN BODY
Explaining what it takes to an entrepreneur and discussing the scope of entrepreneurship
ventures
An entrepreneur is the one who launches business venture and generally in the form of the
company that takes the production of the goods or provides services to its consumers. The
successful entrepreneur needs following things to become a successful entrepreneur.
1. Entrepreneurship is associated with risk and this is the reason every entrepreneur must
have risk taking abilities (Demidova, 2022). It has been said that entrepreneurs who are
active in managing the risk and reward relationship will always be on positive side. For
example the co-founder of Tesla motors Elon musk took risk of launching electric
vehicles in the market when no company was thinking about it, but today Tesla motors
has revenue of dollar 53.82 billion.
2. A great entrepreneur is always creative and innovative as innovation and
entrepreneurship go hand in hand (Bradley, and et.al., 2021). Being creative and
innovative and changing products is demand of the entrepreneurship. It is also often

related with the strategic mindset and spotting opportunities. For example- Apple was the
first that launched i-pod with its computer in 2001.
3. Team building is the another characteristic that any entrepreneur possess for getting
success in the entrepreneur venture as entrepreneur is aware about the strengths and the
weakness of his own (Bendickson, 2021). For example Apple company was founded by
Steve jobs, but he divided different roles in different teams like machines and AI
learning, design, marketing for continuously improving its products.
4. Adaptability to change business with changing external environment is another thing that
is important to become a successful entrepreneur. Remaining flexible just to ensuring that
enterprise keep earning profit (Askar, Bragança, and Gervásio, 2021). For example
Netflix the prime example in today's digital world that keep adapting to the changes in
the industry.
5. Long term focus is entrepreneurship necessity. As starting business is easy, but it's hard
to survive in the market with other competitors. Entrepreneurs must focus on whole
process starting from beginning to the end. For example company like Tesla was founded
in 2003 but its vision has always been long term that is shift of conventional cars to fast
moving electric cars.
Scope of entrepreneurship venture is as follows-
An entrepreneur has excellent scope of starting any entrepreneurship ventures in UK as
government laws are in the favour of it as entrepreneurship ventures not only support the
entrepreneur but helps in overall growth of the economy. The scope of entrepreneurship is as
follows:
 Enterprise is much more than creation and innovation, it helps in improving business
sector and its increase revenue in long term.
 Entrepreneurship helps in stimulating economy which changed society not only in terms
of what they need but also generate revenues.
Traits and characteristics associated with entrepreneurship.
Entrepreneurship ventures are leaded by entrepreneurs, and they posses some characteristics
which are as follows-
Discipline-