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TASK 1 P1. Examine different types of entrepreneurial ventures

   

Added on  2020-10-22

14 Pages4306 Words94 Views
Entrepreneurship and Small Business
TASK 1 P1. Examine different types of entrepreneurial ventures_1
TASK 1 P1. Examine different types of entrepreneurial ventures_2
ContentsINTRODUCTION.......................................................................................................................................4TASK 1.......................................................................................................................................................4P1. Examine different types of entrepreneurial ventures and explain how they relate to the typology of entrepreneurship......................................................................................................................................4P2 Explore the similarities and differences between entrepreneurial ventures.........................................5TASK 2.......................................................................................................................................................7P3 Interpret and assess relevant data and statistics to illustrate how micro and small businesses impact on the economy.......................................................................................................................................7P4 Explain the importance of small businesses and business start-ups to the growth of the social economy..................................................................................................................................................8TASK 3.....................................................................................................................................................10P5 Characteristics traits and skills of successful entrepreneurs that are different from other business..10TASK 4.....................................................................................................................................................11P6 Assessing key aspect of entrepreneur personality reflect entrepreneurial motivation and mindset...11P7 Examine, using relevant examples, how background and experience can hinder or foster entrepreneurship....................................................................................................................................12CONCLUSION.........................................................................................................................................13REFRENCES............................................................................................................................................14
TASK 1 P1. Examine different types of entrepreneurial ventures_3
INTRODUCTIONEntrepreneurship consider as a term which is related to a situation when an individualopens a business venture by conducting analyses and evaluation of various risks that areassociated with starting up a venture such as financial and managerial risk. Entrepreneurialbusiness unit is established by an entrepreneur who generally having ability and skills whichencourage them for taking risk in order to establishing their own venture (Chi, Tansuhajand Sun,2016). There are various types of ownership structures that help an entrepreneur in establishingas well as running their business properly. Along with this there are some specific skills andability required in an entrepreneur that will help them in developing as well as managingbusiness unit properly so that it will leads to enhancement of goal and objective. There is also adiverse impact of experience as well as personal background of an entrepreneur which help themin conducting producer properly and attainment of goal. Moreover, skills and ability of anindividual can be determined as two factors such as god gifted through birth or it can bedeveloped by joining classes or sessions according to requirement. Topics which are covered inrespective report are numerous types of entrepreneurial ventures as well as its impact oneconomy of country. Apart from this, this report will explain about various skills and mindsetthat are required by an entrepreneur so that they established a business entity which helps themin earning profitability. Along with this it will also analysis different factors which will impacton new venture or business. TASK 1P1. Examine different types of entrepreneurial ventures and explain how they relate to thetypology of entrepreneurshipEntrepreneurial venture is consider as a business venture that will established by anindividual in order to fulfill need and requirement of its target potential audiences or customers.There is various type of entrepreneurial venture, some major of them are mentioned below:- Small business entrepreneurship: It is a startup businesses venture that is run by its owners andit has very less number of employees i.e. approx 5 staffs(DAILY, KIEFF and WILMARTH ,2014). Along with this, their revenue generation is also not too high but they try to attract more
TASK 1 P1. Examine different types of entrepreneurial ventures_4

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