Analysis of Entrepreneurship Research and Literature
Added on 2020-07-23
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Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Relation of various ventures with their typologies...........................................................1P2. Differences and similarities among various entrepreneurial ventures.............................3TASK 2............................................................................................................................................4P3 Evaluation to identify impact on economy due to micro and small business...................4P4 Contribution by Small and start ups in growth of social economy...................................5TASK 3............................................................................................................................................6P5 Skills, traits and characteristics of successful entrepreneurs.............................................6P6 Reflection of entrepreneurial mind set and motivation.....................................................8TASK 4............................................................................................................................................9P7 Manner in which background can hinder entrepreneurship..............................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONIn entrepreneurship, there are various concepts which are required to be followed and themain among them is performance of several activities by different persons (Alsos, Carter andLjunggren, 2011). It is needed that organisation shall be developed and managed so that profitscan be made and all risks which associated with it shall also be taken into consideration. varioustypes of entrepreneurs shall be discussed below and also the qualities which are to be possessedby them will be mentioned. The manner in which all this affects the economy is also to bedescribed below. Together with them process that shall be involved in this is specified..TASK 1P1. Relation of various ventures with their typologiesIn environment, there are many such ventures which exist and all are divided into fourcategories that are as follows: Small business entrepreneurship: Such businesses which can be initiated by a singlemember are covered under this. Some of the enterprises which are involved in this aretravel agents, grocery stores and many more (Barringer, 2012). The profitability of themremains at low level as they are carried out at small scale and whole work is done bymembers of family or local workers who are hired.For Example: Grocery stores orMotor Garage can be opened by single body in order to earn livelihood along with gettingfinancially secured. Scalable start-up entrepreneurship: In them, a new business is to be established by usingsome advanced and innovative ideas. So, it is required that such features shall beidentified which can be introduced in the market by using this type of venture. For thepurpose of determination of profit level, all factors associated with risk shall beevaluated.For Example: There are number of unique business which are being openedwith some unique and different ideas like catering services within the transportation forthe people who want home taste. So this kind of innovative and unique business ideas canbe applied. Social entrepreneurship: In society, there are various issues which are to be removedand for that, this type of business is used. In this, such products are made which arebeneficial for whole society and meet the requirements of all. Main objective is not to1
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