Entrepreneurship Venture Types
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Added on 2020-12-29
Entrepreneurship Venture Types
Added on 2020-12-29
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Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Types of entrepreneurial ventures and their relation to typology of entrepreneurship..........1P2 Similarities and differences between entrepreneurial ventures.............................................2TASK 2............................................................................................................................................4P3 Impact of micro and small businesses on economy...............................................................4P4 Importance of small businesses and start ups to growth of social economy after BREXIT..6TASK 3............................................................................................................................................7P5 Traits and skills of two successful entrepreneurs..................................................................7P6 Aspects of entrepreneurial personality which reflect entrepreneurial motivation andmindset........................................................................................................................................8TASK 4............................................................................................................................................9P7 Background and experience can hinder and foster entrepreneurship....................................9CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurship is a concept in which an individual undertakes various processes whileestablishing a new business. The core of an entrepreneurial business is an innovation idea onwhich their business operations are dependent. In this project report, an information booklet hasto be developed for Joe Woods, an entrepreneur of an IT business. In this report, various types ofentrepreneurial ventures are discussed along with their relationship with entrepreneurialtypologies (Ahl and Marlow, 2012). In order to better understand the concept ofentrepreneurship, two entrepreneurs are selected and they are Bill Gates and Mark Zuckerberg.Impact of BREXIT is also been analysed to evaluate the importance of small and microorganisation in the economy of United Kingdom. Traits and skills of entrepreneurs are discussedin this report.TASK 1P1 Types of entrepreneurial ventures and their relation to typology of entrepreneurshipEntrepreneurship is the capability and willingness to develop and organise a businessventure with an innovative idea in order to run a law-abiding business and earn profit.Entrepreneurship is a study of an individual who collect and gather all the resources to start abusiness. Entrepreneurial venture is an organisation where innovation is the core of theirbusiness operations. These ventures can be classified as following categories:Small business entrepreneurship – These type of business structure are small in sizeand business operations. These ventures contributes about 6 million towards the economy ofUnited Kingdom. Apart from profitability, these ventures also generate thousands of job everyyear. These ventures can include grocery stores, electricians, consultants and many more whichincludes less amount as initial investments and those investments are typically acquired from thesole owner or owners of an organisation (Burrows, 2015). Scalable Start-up Entrepreneurship – In this type of entrepreneurial venture, the visionof entrepreneurs are specific that they want to change the world by their innovative ideas. Theseindividuals make efforts to to attract investors for their business project. These entrepreneurs hasaim to build a large scale organisation by attracting investors and by employing brightest mindsfor their business operations. These ventures are typically related with IT industry as this sector1
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