Entrepreneurship Assignment Solved (Doc)
18 Pages5513 Words381 Views
Added on 2020-10-05
Entrepreneurship Assignment Solved (Doc)
Added on 2020-10-05
ShareRelated Documents
Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................3P1 Examine different types of entrepreneurial venture and their relation with the typology ofentrepreneurship.....................................................................................................................3P2 Evaluate similarities and dissimilarities between different kind of entrepreneurial ventures.................................................................................................................................................5TASK 2............................................................................................................................................7P3 Present a relevant data and statistics to justify the impact of micro and small business onthe economy............................................................................................................................7P4 Explain the impact of small business and start up in growth of the economy.................9TASK 3............................................................................................................................................9P5 Illustrate the characteristic, skills and traits of successful entrepreneur which separate themfrom other business persons...................................................................................................9P6 Assess how aspect of entrepreneurial personality motivate other individual of the society...............................................................................................................................................11TASK 4..........................................................................................................................................13P7 How background and experience can motivate for entrepreneurship......................................13CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONEntrepreneur is a person who run his business with creative and innovative ideas in orderto attain growth and earn profit effectively. These are the people who focuses on opportunitiesand take initiative for mobilising resources in order to make new goods and services (Amato andet. al., 2017). With reference to this, Entrepreneurship is a process of developing, arranging andrunning a new business venture, which is initially start as a small-business. The person whoestablish such type of businesses are known as entrepreneurs. Along with this, Entrepreneurshiprefers where business man have capacity and willingness to manage business venture by takingrisk with the purpose of earning profit and developing society. In this present report, it has beenstudied of various entrepreneurial venture and their relations with the typology ofentrepreneurship. Also, importance of small-business and new start-ups has been discussed forthe overall development of the society. In addition to this, it has been discussed about thepersonality, knowledge and skills of two entrepreneurial which influence other for becoming ansuccessful person in their life. Lastly, in this present report described about family andbackground of entrepreneur which create their image on individuals mind. TASK 1P1 Examine different types of entrepreneurial venture and their relation with the typology ofentrepreneurship.Entrepreneur : An entrepreneur is the person who take financial risk in order to earnmoney. They have innovative or creative idea and implement it for gaining long term profits(Ateljevic and Page, eds., 2017). Entrepreneurs take full authority towards execution, failureor success while establishing business entity. Entrepreneurial venture : It is a business entity where innovation of new products takeplace for providing value to the society. This venture is basically started by a person in orderto fulfill their dreams and to achieve growth and success. Entrepreneurship : It is the willingness of a person in order to manage or create a businessentity which is generally a small scale business, for earning profit by taking risk. Forgenerating financial gains, they attract huge amount of investors which aid them byinvesting in their business organizations.There are various types of entrepreneurial venture which are as follows :
Social entrepreneur: Social entrepreneurs mainly focus on creating those products whichsatisfy the needs and requirements of the society. Major aim of the entrepreneur is todevelop better place for the people of society, with no discrimination. They earn money forthe development of society (Bogdanov and et. al., 2016).For example, NHS(National healthcare) is a social organization which provide services at low and free of cost to the localresident of UK. These organization earn huge profit by providing its services and products toits target audiences. Large scale entrepreneur: Large scale enterprises are those companies which areestablished on a large scale and have capacity to bring changes according to therequirements of consumers. Company develop new products according to the customerpreferences and changes in technology, in order to satisfy needs of consumers and gaincompetitive advantages. For example, Google and Microsoft are large organization whichoperate their business in the different nation of the world. Micro enterprise venture: These business ventures are based on the talent, willing ordesire of a person for establishing an organization in high competitive market. This is theenterprise who have extremely low growth rate and require regular motivation in order tosurvive and gain profit. Small/lifestyle ventures: These business ventures creates employment opportunities for thepeople of the society, as these companies act as a backbone for the development ofthe society or overall economy.Small scale entrepreneur : They are the individuals who establish their business at verysmall in the respect to infrastructure, money or other necessary resources. Small scaleenterprises includes general stores, grocery shops, hairdresser, electrician and many otherbusinesses (Burns and Dewhurst, 2016). They establish their business by taking funds fromrelatives, family and other financial organization. In order to feed their family members theystarted this type of business. For example, Funeral Care is a small business and organizationwhich work towards dead people of poor families who are not able to do the activitiestowards them.Typology of entrepreneurship : Typology refers to an effective and detailed classification offactors associatted with characteristics like contextual and physical.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Small Business Entrepreneur and Its Impact on Economylg...
|14
|4650
|241
Importance of Start-ups in Small Business and Social Economylg...
|16
|4814
|38
Impact of micro and small business on social economylg...
|9
|2163
|165
Entrepreneurship and Small Business Managementlg...
|14
|4364
|68
Entrepreneurship and Small Business Managementlg...
|15
|4707
|41
Assignment | Entrepreneurship and Small Business Management (Doc)lg...
|15
|4691
|76