Interruption INTRODUCTION 1 P1. Types of entrepreneurial venture

   

Added on  2020-06-05

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Entrepreneurship
Interruption INTRODUCTION 1 P1. Types of entrepreneurial venture_1
Table of ContentsINTRODUCTION...........................................................................................................................1P1. Types of entrepreneurial venture..........................................................................................1P2. Similarities and differences between all the venture............................................................2P3. Impact of micro and small business on the economy of UK................................................4P4. Importance of small businesses and business starts-ups to the growth of the economy ofUK...............................................................................................................................................6P5. Traits, Skills and Characteristics of successful entrepreneur. ..............................................7P6. Reflection of aspects of entrepreneurial personalities on motivation...................................8P7. Analysing the background and experience that hinder and foster entrepreneurship..........10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
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INTRODUCTIONThe capableness and willingness to build the organization or business venture along withthe risk in the hope of earning profit is known as Entrepreneurship. Entrepreneur makesinnovative ideas and plans to develop the enterprise. A person who takes initiatives and developthe enterprise by taking advantages of opportunities in the market place is known to beEntrepreneur. The study is about the types of entrepreneurial ventures and the similarities anddifference between all the ventures. The assessment is also about the significance of small,medium and micro enterprises. More over, the traits, characteristic and skills of entrepreneur isalso discussed in this report. Furthermore, the personality traits of entrepreneurial is alsodiscussed in this report. The background and experience of Bill Gates and Steve Jobs that hinderand foster the entrepreneurship come to understand in this report. The report is also discussingthe impact of small entrepreneurship on the economy of United Kingdom is also illustrated inthis assessment. P1. Types of entrepreneurial venture.Private Entrepreneurship- this are those entrepreneurial ventures which are governedand control by a sole individual or it may be group of person. The main intention of privateentrepreneurship is to maximise profit by earning more and more. The risk in the business isborn by the person himself. The private entrepreneurship provide employment people. Public Entrepreneurship- this are those entrepreneurial undertakings which have entirecontrol and management is in the hand of the government. The entire function and operation iscontrolled and governed by legal bodies of the country (Carter and Tamayo, 2017). The intentionof the public enterprises is to provide employment to large amount of people. The profit earnedby those enterprises are use for the betterment of the country. Small entrepreneurship- this are those entrepreneurial ventures which start with thesmall investment. There is no huge amount of investment in small enterprises. The functionalactivities are also too small and it is at tiny scale of measurement. The workforce in the smallbusinesses are also not so large. Example of small enterprises are general store, medical store,small travel agency etc.Social Entrepreneurship- this entrepreneurship are those whose main intention is to dowelfare for the society, profit earning is not the main intention of social entrepreneurship. Socialentrepreneurship is mainly developed by group of people. The profit generated by social1
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entrepreneurship is utilized for welfare of the society not for the personal use. In UK there are somany social entrepreneurship's are operating, OSEP is one of the famous social entrepreneurship.Large entrepreneurship- this entrepreneurship are those which operate on the large scaleand the investment of those businesses are also very large. In starting large enterprises there ishuge amount needed. The infrastructure and asserts are also giant. In the operation of largeenterprises there no one time fund needed but there is regular supply of the fund. Moreover,The employees in large enterprises are in large quantity.Trading entrepreneurship- this entrepreneurship are those which only conduct a businessof supply of the products and services. The main intentions of this enterprise are only to transferthe trade goods from one place to another (Dai, Ivanov and Cole, 2017). They do not conductany production activities. Mainly these business are belongs to transportation company whichsupply goods and services from one place to another. P2. Similarities and differences between all the venture.All these ventures are different from each others as all have different aims and objectives,different types of operational activities and distinctive functional strategies and plans. But Stillthere are some similarities in between all these ventures as the aim and objectives are somewhatsimilar, size and functional activities are also similar.Basis of differencePrivatePublicSocialGoalsPrivate enterprise arethose enterpriseswhich have main goalto maximize profit andexpand the business inall over the world. Public enterprise arethose enterpriseswhich have prime goalto provide more andmore employment tomany people. Social enterprise arethose enterpriseswhich have prime goalto do welfare of thecommunity. The profitearned is not utilizedfor personal use, it isdevoted in the welfareof the community. FunctionandOperationThe function andoperation of privateenterprises are inurban area.The functional andoperation of publicenterprise are todevelop and growth ofThe function andoperation of socialenterprise is to welfarethe community2
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