Project on Entrepreneur Famous Personalities - Jeff Bezoz and Bill

ENTREPRENEURSHIP

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1 ...........................................................................................................................................3
P1 Different types of entrepreneurial venture and their relationship with typology..............3
P2. Similarities and differences between entrepreneurial ventures........................................5
TASK 2............................................................................................................................................6
P3 Discuss the impact of small and micro businesses on economy.......................................6
P4 Explain the importance of start-ups and small business towards the economy................9
TASK 3..........................................................................................................................................11
P5 Determine skills, traits and characteristics of successful entrepreneur...........................11
P6 Evaluate how different aspect of entrepreneurial personality reflects motivation in them12
TASK 4..........................................................................................................................................13
P7 Explain how background and mini research can foster entrepreneurship.......................13
CONCLUSION..............................................................................................................................14
REFRENCES.................................................................................................................................15
.......................................................................................................................................................16

INTRODUCTION
Entrepreneurship is define as process in which an individual generate an innovative idea
which is beneficial for society and support in generating profit as well. Entrepreneur is such
person who generate such idea and perform an activity which stated as entrepreneurship and end
results enterprise which support in establishing such idea properly (Barringer, 2012). There are
various new and innovative person are determine in society whom encourage and motivate many
young generation person of society as well. This project includes description about two famous
personalities whom establish their idea properly and become as a idol for many people - “ Jeff
Bezoz and Bill gates”. Along with this it will also constitutes about various types of
entrepreneurial ventures with typologies as well as differences and similarities. They started with
a small idea and made vast impact on economy as well. This concept also get elaborated in this
investigation properly. A positive or negative mindset always support or hinder an individual
personality which get understand by taking example of these two stated persons.
TASK 1
P1 Different types of entrepreneurial venture and their relationship with typology
P1. Different types of entrepreneurial ventures and their relationship with typology
An entrepreneur is that person who set ups his own business and is able to take risk and
generate new as well as innovative ideas in desire of profit. He searches for opportunities,
exploits them and quickly responds towards change. There are different types of entrepreneurial
ventures which are as follows:
Small business enterprise: Every firm starts with small ventures. Generally new start-ups
are referred as small business enterprises. These businesses are started at local level so that basic
needs of the individuals will get fulfilled. In United Kingdom, many small enterprises are
running effectively and earning profits by providing quality products to its customers. The main
objective of every firm is to generate profits and gain sustainability. They have limited financial
resources and so, it is difficult for them to expand their business. This is a security typology of
entrepreneurship which assists in getting secured and fulfil the basic needs.
Scalable entrepreneurship: These are the new start-up ventures that operate with
different motives. The main purpose behind scalable entrepreneurial enterprise is to bring change
in economy and administer change elements. These businesses require high funds and therefore,

investors need to have vision like entrepreneurs. If financial need is fulfilled then skilled workers
are required to work on that and attain targets. Angel investors and skilled workers increase the
morale and confidence level of entrepreneur (Baum, 2014).
Large scale entrepreneurship: These businesses start with high investments and include
multinational companies. These enterprises focus on innovation and operate for the purpose to
earn profit as well as contribute in the welfare of society. These ventures are engaged with
corporate social responsibility. Large scale enterprises emphasis on the quality improvement in
its products and services in order to gain higher profitability and competitive advantage from the
market.
Social entrepreneurship: These kinds of enterprises are established and operated for the
purpose of development and welfare of society. Social entrepreneurial firms administer healthy
and value added products to its customers. They work for the social development and serve
society in order to provide benefits and improve their living standard. They fulfil basic needs and
wants of society. These are non-profit organisations and engaged in social services. The typology
of this type of entrepreneurial style is social development.
Female entrepreneur: These are the women who innovate and initiate business actively.
Female entrepreneurship is based on the participation of women in employment and equity of
business venture. These organisations are owned, operated and controlled by females as well as
they have minimum 51% stake of company.
Serial entrepreneur: These are the people who constantly come up with noble and
innovative ideas and start new business. These entrepreneurs take challenges and once a business
is properly established, they delegate responsibilities of performing its operations & moves on to
another venture.