Types of Entrepreneurial Ventures and their Relation towards Typology

This project explores the various types of entrepreneurial ventures and their relation towards typology for economic growth. It examines the similarity and dissimilarity of commercial ventures and assesses relevant figures and statistics for micro and small businesses in the economy. It also elaborates on the characteristics, traits, and skills of successful entrepreneurs and identifies examples of entrepreneurs and their background and experience.

Unit – 9
Entrepreneurship
And
Small Business
Management

Table of Contents
INTRODUCTION......................................................................................................................3
PART – A...................................................................................................................................3
TASK – 1...................................................................................................................................3
List various types of entrepreneurial ventures with its relation towards typology................3
Explore the similarity and dissimilarity of commercial ventures..........................................6
Determine the range of entrepreneurial ventures with public and corporate sector..............8
. Examine the scope, development and growth of commercial ventures...............................9
TASK – 2.................................................................................................................................10
.Assess relevant figures and statistics for illustrating micro and small business on economy
..............................................................................................................................................10
Describe the essential requirement of small and scalable business for growth of social
economy...............................................................................................................................10
Evaluate differences between SME with its application in figures and stats......................11
Justify the impact of small business on different levels of economy..................................11
PART – B.................................................................................................................................12
TASK – 3.................................................................................................................................12
To elaborate the optimum characteristics, traits and skills of successful person that
differentiate from others.......................................................................................................12
Evaluate the aspect of the entrepreneurship personality reflect the effective entrepreneur
motivation and mindset........................................................................................................14
Examine the different form of argument relating with entrepreneur characteristics............15
To making interpret in the motivational drivers that allowance them to provide the
successful drivers..................................................................................................................15
TASK – 4.................................................................................................................................15
Identify the examples of entrepreneurs for their background and experience which hinder
and foster in goal achievement.............................................................................................15
Interpret the link between the entrepreneur personal background experience....................16
Detailed influence about the background experience influence entrepreneur in both positive
and negative factor...............................................................................................................16
CONCLUSION........................................................................................................................16
REFERENCES.........................................................................................................................18

INTRODUCTION
The skills implied by business owner in developing business with its creative thinking
skills that creates opportunity to increase aggressive strategies for being stable in global
market is termed as entrepreneur. In this project, as per the given guidelines Microsoft
Corporation has been selected for being large American multinational technology company.
This project lists various types of entrepreneurial ventures that relates with its typology for
economic growth. It also examines the similarity and dissimilarity between these listed
commercial ventures with public and corporate sector (Artinger, Vulkan and Shem-Tov,
2015). The project assesses relevant figures and statistics for micro and small business in an
economy. It also describes the essential requirement of small and start-up business for
economic growth with its justifications at different levels. In addition to this, it elaborates the
optimum characteristics, traits and skills of successful person to inspire others as being an
ideal for them. It also aspects the entrepreneurship personality trait that inspire other to give
their best efforts. The project further identifies the background and experience of two
entrepreneurs which hamper and promote in being successful entrepreneurs.
PART – A
TASK – 1
List various types of entrepreneurial ventures with its relation towards typology
Enterprise:- The key people of an organisation who perform their roles and
responsibility towards goal accomplishment with the motive to achieve success repeatedly is
called enterprise. The managers of Microsoft focus on this for motivating workforce to
complete their job role in particular time that leads company to remain stable at international
marketplace. It is most important for business owners to develop their competitive strategies
for meeting their expected desires with high management and leadership styles.
Entrepreneurs:- It is described as the ability of business tycoon to deal with
competitors through developing aggressive plans which leads to develop specialised product
for challenging with rivalries (Barba-Sánchez and Atienza-Sahuquillo, 2018). This is most
important for entrepreneurs to build good interpersonal relations among its workforce for
performing their actions collectively which creates prospect for company to attain its goal on
particular date. Managers of Microsoft focus on this as to create significant plan which is
capable in meeting the requirement of customers through completing their business activities
in practical manner for restricting manual work procedure.
Difference between entrepreneurs and intrapreneurs:- This differentiation of
entrepreneurs and intrapreneurs describes the major roles and functions being performed
within an organisation for achieving success. It is important for business to deal with various
circumstances that affects the stability of business in global market through internal and
external environment. Managers of Microsoft further aims to take protective measures by

providing training and development programs to its workforce for being aware of problems to
solve it with specialisation.
Basis of Difference Entrepreneurs Intrapreneurs
Definition The entrepreneurs are highly
capable in planning strategic
decision-making process for
manufacturing specialised
product and services to
enlarge customers (Cecil,
2014).
The intrapreneurs are
defined as the group of
individuals within the
organisation who complete
their business activities for
driving actions into
perfection for attaining
goals.
Functions The function of
entrepreneurs is as being
business owner of whole
enterprise for analysing each
and every actions being
done in company.
The intrapreneurs functions
are to perform their task as
being desired and planned
by executing it effectively
that leads company to
survive in competitive
market.
Risk-Taker The entrepreneurs are high
risk taker with the motive to
achieve high return in future
through proper assessment,
measurement and
management of hazards.
The intrapreneurs are low
risk taker as compared to
entrepreneurs for properly
utilising scarce resources in
order to gain profits which
increase its potential power
to overcome weak spots.
Decisions The major decisions
regarding enterprise are
mostly taken by
entrepreneurs to create
threats for others.
The intrapreneurs as being
managers of company have
the authority and
responsibility to manage and
execute their actions in
proper direction for
achieving specific long-term
goal (Daniel, 2016).
The comparison between serial entrepreneurs, owner-managers and
entrepreneurs:- There are various difference between these three categories which are
discussed as under:-
Basis of Difference Serial-
Entrepreneurs
Entrepreneurs Owner-Managers
Definition The serial
entrepreneurs refer
as capability of
business owners to
achieve their set
goals within
specified duration
regularly to remain
The entrepreneurs
are described as key
persons who develop
plan and strategy for
enterprise to increase
its potential power
and prospects.
The managers are
also termed as
directors and
supervisors who give
their high level of
efforts for company
in executing roles
and responsibilities

stable at its position
in global market.
to leaders for
delegating it towards
workforce with
division of work.
Role The role of serial
entrepreneurs is to
strategise their
schemes in order to
provide high level of
satisfaction to its
customers.
The business owners
focus on developing
innovative idea
which increases their
competitive strategy
that result in high
growth of enterprise
(Finney, 2019).
The managers aims
to monitor the
actions of business
activities for
restricting errors
with corrective
measures to achieve
its short and long
term goals on certain
period.
Purpose The main purpose of
serial entrepreneurs
is to continuously
come up again and
again by achieving
its goals and
objectives
efficiently.
The main objective
for entrepreneurs is
to focus on
generating high
revenue through
selling more of their
products by
increasing
customers.
The main purpose
for owner-manager
is to motivate
workers for
completing their task
on time which
results in goal
accomplishment
efficiently
Entrepreneurial Ventures:- It is described as the process through which
entrepreneurs aims to develop business strategy for improving the adverse impact of
environmental factors. The main motive of business tycoons is to develop creative thinking
skills for new value creation ad growth of enterprise that enhance the potential power for
competing with rivalries. The entrepreneurial ventures is further categorised into two
categories which are as follows:-
 Micro enterprise:- It refers as tiny enterprise which is considered as part of small
business and are extremely low in its growth. This faces difficulty in gaining capital
and usually operated by desire and talent of persons that creates internal strength for
company to sustain. Example:- Street Vendors, Mate-file, SDK Jwellers, Small
Farmers, Private Tailors, Man & Van service providers.
 Small enterprise:- This is also termed as lifestyle venture which develops advantage
for enterprise through managing growth of workforce which build good team morale
for completing their task. It also face disadvantage as the growth of lifestyle develops
competition through improper relations among workers which increase conflicts. This
is considered as the stamina for various communities though increasing its prospect
by creating job opportunities, developing qualitative products and services tax base
for local government (Foster, O'Reilly and Dávila, 2016). Example:- Airdri, Hicks
Holdings, Sollatek (UK), Electricians, Consultants, Convenience Shops, Kebab
Shops, etc.

 Medium enterprise:- It is referred as the enterprise which have come up on this
position of middle-sized venture by generating moderate growth in its business. This
majorly focus on these factors its expansion and stability that are niche market, good
judgment and sovereignty of entrepreneurs. Example:- Argos, Red Rock Consulting,
Facebook, Colleges, Public Schools, etc.
 Gazelle enterprise:- The gazelle means as the ability of enterprise for its fast-growth
in perfect competition market for increasing its revenue and profit-margin. Its main
aim is to expand business through developing its strength and opportunities which
creates threats for others. The gazelle or large venture focus on creating high job
prospects, enhancing market share at both local and centralized level. Example:-
Samsung, Microsoft, Google, Apple, NHS, BBC, Post Office, etc.
 Social enterprise:- This is described as main motive of entrepreneurs is to provide
maximum social welfare for its society that result in increasing customers support and
loyalty. This effect in high growth and steadiness of company by pursuing its mission
to sustain social value with continuous learning, adapting ad innovation (Frederick,
O'Connor and Kuratko, 2018). Example:- Goodwill Industries, Greyston Bakery and
Nisolo.
Typology of entrepreneurs:- The typology is termed as interior environment of an
enterprise which usually motivates workforce to complete their targets efficiently for
achieving vision and mission of company. It is also described as the classification of various
structures available in enterprise that perform their business activities towards
accomplishment of specific goal.
 Survival:- The managers of an enterprise aims to motivates its workforce by building
good relations that emphasize them to give their superior efforts towards company in
achievement of goals. The social enterprise majorly focus on this as to improve the
survival of people by providing them food, shelter and cloth to live their life.
 Lifestyle:- The intrapreneurs of an organisation focus on developing good lifestyle of
its workers through encouraging them by giving good compensation, insurance,
children welfare that builds their morale to perform. The small business majorly
focus on this as they believe in employees plays most important role in accomplishing
target.
 Managed Growth:- The managers of an enterprise aims to develop business
expansion with equality among its workforce by encouraging workers to give their
best. The micro enterprise focus on motivating workers equally by men and women
that leads workers to generate manages growth for company which increase efficiency
and leads to attain success efficiently.
 Aggressive Growth:- This refers as the process through which managers of company
are highly engaged in developing aggressive strategies that create prospect to develop
expansion and steadiness in perfect competition market. The gazelle enterprise aims
to increase their potential power by encouraging workers to achieve individual and
organisational goals (Hallak, Assaker and Lee, 2015).

Explore the similarity and dissimilarity of commercial ventures
Difference of commercial ventures:- The dissimilarity between various
entrepreneurial ventures has been discussed as:-
Basis of
Difference
Micro
Enterprise
Small
Enterprise
Medium
Enterprise
Gazelle
Enterprise
Social
Enterprise
Meaning It refers as
tiny
enterprise
which is
considered
as part of
small
business
and is
extremely
low in its
growth \.
The small
enterprise is
privately
owned
business
which does
not involve
the rules and
regulations
imposed by
government
of United
Kingdom.
This is defined
as the ability
of middle-
sized business
for coming up
at
international
market
through
generating
moderate
growth.
The gazelle or
large
enterprise
refers as fast
—growth
expansion by
encouraging
workers to
give high
efforts.
The social
enterprise
aims to
provide
various
facilities to
its
workforce
for their
survival
with two
times meal
a day that
enhance in
growth of
company
through
building
support and
loyalty of
customers
(Henry,
Rushton
and Baillie,
2016).
Size The size of
micro
enterprise
includes
fewer than
10
employees
that are
owners,
managers,
leaders and
workers.
The size of
small
enterprise
involves 10 to
49 numbers
of employees
which is
higher than
micro
enterprise.
The size of
medium-sized
enterprise
consists of 50
to 249 workers
that are mostly
higher than
small
business.
The size of
gazelle
enterprise
includes more
than 250
employees
which is at
highest from
medium-sized
enterprise.
The size of
social
enterprise
consist 25%
employees
as full-time
workers and
65% at part-
time
workers.
Functions Its function
is to create
large scale
employment
for
achieving
target with
Its functions
are to recruit
and hire more
employees for
improving
efficiency in
task
Its function is
to play major
role in
developing
good and high
level of
production
The large
enterprise
focus on
divisional
structure to
manage its
business
Its functions
are to
provide
welfare for
society at
high level
through

very limited
finances and
investment.
completion
that leads to
attain goal on
certain
specified
date.
that results in
increasing
economic
growth of
company for
sustaining at
global
marketplace
(Howorth,
Jackson and
Cruz, 2014).
performance
by
discriminating
into various
departments
that are
human
resource
management,
marketing,
finance,
production,
etc.
promoting
and
encouraging
change in
financial
stability of
workers by
providing
high income
generation
with the
ability to
meet
demands of
customers.
Objectives The main
purpose of
micro
enterprise is
to spread
trade of
industries at
rural and
urban areas
for
increasing
economic
growth.
The objective
of small
enterprise is
to increase
sales by
delivering
qualitative
goods and
services for
meeting the
requirement
of customers
to generate
profit
maximisation.
The main
purpose of
medium-sized
enterprise is to
create job
opportunities
for hiring
unemployed
people in
order to train
and develop
their skills for
restricting
unemployment
rate in
economic
sector.
The objective
of gazelle
enterprise
majorly
focuses on
providing
high customer
satisfaction
through their
delivering
superior
productivity.
The main
purpose of
social
enterprise
aims to job
creation as
they have
ethical
values and
profits for
investing it
again in
social
objectives.
Similarity of entrepreneurial ventures:- There are various similarities between
these five types of entrepreneurial ventures that are most importantly analysed by
entrepreneurs to attain success. It is essential for an organisation to improve its stability at
international marketplace by generating more of its competitive strategies to compete with
rivalries. Some of its similarities are explained as under:-
 Able to use scarce resources:- The managers of an enterprise aims to utilise limited
sources effectively for gaining profits that results in building competitive strategies to
challenge oppositions (Jones and Sakong, 2020). It is most important for organisation
to develop good employee relations that result in goal accomplishment at particular
duration.
 Maximisation of profits:- The main aim of entrepreneurs is to generate maximise
profits by enlarging customers with qualitative products at least-cost effective pricing

strategy. This results in attaining high profits by encouraging customers to purchase
products at low cost for attaining high level of satisfaction.
There are various ranges of entrepreneurial ventures with public and corporate sectors
that are as follows:-
Distinctive categories of entrepreneurial ventures:-
Basis Public Sector Private Sector Corporate Sector
Definition It is described as the
sector which is
totally governed by
policies and
procedures of
government.
The privately owned
sector which does
not allow
government
involvement.
It refers as an
organisation which
is independent and
non-governmental as
well as non-profit
corporation.
Scope The scope of public
sector is to develop
benefits for social
and economic
growth.
The scope of private
sector is to maximise
profits by enlarging
customers for
delivering
qualitative products.
The scope of
corporate sector is to
maximise social
welfare for
providing facilities
to poor people
(Julien and eds.,
2018).
Development Its main objective is
to generate good
atmosphere within
business for
developing relations
among workforce
that leads to
collaborate with
each other for
attaining goals.
The main purpose of
private sector is to
generate guidance
and improvement in
workers by
increasing their
skills to complete
task with efficacy.
The main objective
of corporate sector is
to provides charity
and donations for
welfare of society as
they have high value
and profits.
Growth The public sector
majorly focuses on
community interests.
It attains growth by
meeting the
requirements of
customers.
This achieves
growth by gaining
customer support
and loyalty.
Related to typology It relates to typology
of lifestyle by
analysing the
behaviour of
customers while
purchasing their
products.
The private sector
relates to typology
of aggressive growth
as they aims to
develop its
competitive
strategies for
sustaining in
competitive market.
The corporate sector
relate with the
typology of managed
growth by
encouraging both
male and female
through treating
them equally.
The difference of commercial ventures on the basis of size, scope, growth and
development are mentioned as below:-

 Public sector:- This mainly aims to analyse risk and aims to develop corrective
measure for minimising it to sustain in global market (Karanja, Mwangi and
Nyakarimi, 2014).
 Private sector:- Its size is very high with maximisation of capital that generates high
return in future period.
 Voluntary sector:- This aims to increase social welfare with charitable trust,
donations, etc.
TASK – 2
. Assess relevant figures and statistics for illustrating micro and small business on
economy
The relevant figures and statistics for micro and small business that impact upon
economy are as follows:-
Figure: - 1
Interpretation:-
From the above prescribed figure it has been considered that all these types of
entrepreneurial ventures contribute in growth of economy for sustaining in global market.
The micro and small enterprise plays major role in development of economic growth whereas
as medium and large enterprise lacks in it. The middle-sized enterprise is highly capable in
providing high employment opportunities for jobless people to restrict unemployment rate in
economy (Kraus and et.al., 2019).
This figure describes that there are large number of business available in micro and
small industry that aims to recruit more of the workers in their organisation to accomplish
their target. The large enterprise also implies that there is high employment as it provides
good and better wages and salaries to workforce for encouraging them to keep giving their
efforts for company to achieve long-term goals. It also maximise turnover as workforce is
motivated and shows their keen interest for fulfilling the desires of customers which result in
high turnover.

. Describe the essential requirement of small and scalable business for growth of
social economy
The small business:- This is described as an enterprise which does not involve the
interference of political leaders and perform its business activities to attain its goal and
objective. Managers of Microsoft focus on generating high revenue and profit by enlarging
customers for attracting them to purchase their products and services.
The start-up business:- It is described as the enterprise which enters at international
market to compete with others through its specialised productivity (Kraus, Meier and
Niemand, 2016). Managers of Microsoft aim to analyse the aggressive plans and schemes
which might create threats and to develop precautionary measures for restricting adverse
impact on its stability.
The importance of small and start-up business are as follows:-
 Build customer relations:- The main objective for managers of an organisation is to
develop good corporate social responsibility through delivering superior good for
customers. Managers of Microsoft focus on this as to meet the essential needs of
target market by analysing the change in needs and wants of buyers.
 Increase economic growth:- It is most important for managers of organisation to
increase economic growth by increasing Gross Domestic Product rate that results in
maximising exports and restricting imports. Managers of Microsoft are highly
advantageous as they build good relations among workforce which result in
production and increase domestic productivity.
 Create job opportunities:- The small, scalable and medium-sized enterprise majorly
focus on increasing employment opportunities for jobless workers to get employed.
Managers of Microsoft main aim is to increase employees and motivate them to give
their best efforts for achieving victory at competitive marketplace through their
increasing potential power (Lee, Battilana and Wang, 2014).
The micro and small enterprise plays their major role in development of economic
growth by meeting the needs and wants of customers that enhance them to achieve success.
The medium enterprise provides it share in growth of economy through creating high job
opportunities for restricting unemployment rate. The gazelle enterprise aims to increase
profits and give high compensation to its workforce for encouraging them to develop interest
in business activities for achieving long term goals.
The small business impacts on various economic levels by:-
 Local:- It increase customer relations and leads to satisfy their demands.
 Regional:- This improve the development of industries by expanding business at
large level.
 Central:- The small business develops economic growth by increasing employment
and GDP rate. It also creates opportunity for restricting imports and increase exports.

PART – B
TASK – 3
To elaborate the optimum characteristics, traits and skills of successful person that
differentiate from others
Every entrepreneur is seeking to be successful as it own way of proceeding to tehir
business venture goals through which skills and characteristics are high performed role to
making it successful in their business world as they can get to be successor. The individual
entrepreneurship is only successful when it follows the passion to emphasis to work and
utilise its skills and capabilities in right direction for establishing the successful enterprise in
terms of better goodwill and trading in business or corporate world with the optimum
objective to attaining the profit maximisation (Libombo and Dinis, 2015).
As the one entrepreneurship that is based on United kingdom business and its start up
is basically follows the home décor and personal care which emphasis the further mobility to
consider the most entrepreneurs
The successful entrepreneur are known to be well framed goodwill achiever as the
Bill Gates and Peter Jones are one of the most compassionate name of successful business
entrepreneur are prevails about the business oriented in the world wide segmentation.
Characteristics :
 To having the presence of Innovation: It is consider to be most complexive
segment of entrepreneur as it facilitates to offer the aiming about the business point of
view something which brings the sense of accomplishment and achievement in terms
of customer retention and market exposure as it Company like Bill gates has it own
mission and vision which helps to enhanced the mobility factor of upbringing the
market growth with optimum objectives.
Trait:
 Leadership Quality: The ability to influence to people through effective
resources or proper guidance which makes them inner motivation to making them
ready for achieving the goals perspective. The quality of leadership having in the
presence of the Bill Gates when establishment of its venture he used to be motivate
and provide them a guidance related with the manager of the workforce as well as
other aspect of clients and investors he supposed to having convincing power.
Skills:

 High form of Adaptability and Effective Communication: As in every
entrepreneur they need to explore each and every factor which is high required for
the business aspect attaining, Bill Gates having a effective form of skills which is
most positive point is adaptability and communication skills which performed in the
making of business factor goal and also it very necessary to need to get influence to
the other with proposal related with professionalism.
 Decision making skills: The power of decision making is important in every
entrepreneurship where it supports to influence in the ahead process of the task
completion in successful way need to be focused un making high decision taking
undergoes at any point of situation arises (Matthews and Brueggemann, 2015). The
successful is getting through Bill Gates that he has accomplished by his decision
making where he has been scrutinized his all approaching task assigned work in a
detailed oriented way of procedure.
About Peter Jones
The most prominent one of the British entrepreneur is name as Peter Jones who is
head and founder of Dragon Den which is television show as well as the businessman with
the interest of celebrity in BBC Channel.
Characteristics
 The behaviour of Passionate: As every individual entrepreneur are having sort of
behaviour which makes them their strength that supports to being successful
entrepreneur where Peter Jones having aim to be captured to retain the successful
business celebrity as he always devoted through its work that makes him delivered the
positive outcomes. As he wanted to lead in digital platform where he having a dream
to be succeed in it.
Traits
 Feedback taking approach: Through mapping all the challenges and positive factor
that driven into their way of process to being entrepreneur where Peter Jones have
always had a behaviour to accepting the feedback and insists to his people for
scrutinizing his work by measuring his performances and provide a genuine feedback
which actually makes him get to understand and identify the negative flaws to
improvisation.
Skills
 Having a sense of self confidence: There is necessity about to having the presence of
the inner morale improvisation to be always approach the positive attribution aspect
through inherent which makes them positive influence.

For Example Peter Jones is having this sense of skill that he knew about for
being successful entrepreneur hee should have that much of capability to make own a
positive effective business kind personality that driven him more scrutinize way
which helps him to be well formed of effective entrepreneur (Osiyevskyy and
Dewald, 2015).
 Focus Oriented: In this felid of Entrepreneur individual need to be focused towards
their goals which are most important factor to be played have not get any form of
distraction in from the business goal pathways.
For Example, Peter Jones is having the similar skills orientation which helps
to forming as to being his nature to be focus towards what he has exceptional thought
about the goal to factorisation as it will efficiently need to accomplish the objectives
which has involve in it.
Evaluate the aspect of the entrepreneurship personality reflect the effective
entrepreneur motivation and mindset
The main factor of personality of person who are deliberately in formation of being
successful entrepreneur which motivates in inner ability to influence the goals have to
achieved in the business oriented factor for their mind sets are need to be focused as well as
the driver of personality is important because it reflects the actual behaviour and approaches
the way the effective business personality type of people get influenced and motivate their
confidence and create a positive impact to their people. As in following there is discussion
related with the personality of Bill Gates and Peter Jones are which kind of personality traits
they been involves through Ocean Personality Traits.
 Openness: This type of personality is driven in business skills as in entrepreneur that
derives about the presence of mind which should have positive factor of influence to
imply and observed the key learning through gaining the optimum knowledge. As Bill
gates and Peter Jones are both having this sort of personality to be getting more
extroverts in entrepreneurs.
 Conscientiousness: It makes to be support as inherent in personality that for standing
about to goals where Peter Jones is one of personality where he was fully driven
focused towards his targets and influence to many people through motivation factor.
 Extroversion: This form of personality is refer about the individual is so interactive
and having a involvement in social media platform or people interaction where Bill
Gates is having the nature of Extrovert where is usually like to meet new creative
persons from which he get stimulus from them (Parker, 2018).
 Agreeableness: It regulates about the entrepreneur convincing nature to include in
personality attribution that how a individual business person can be building trust,
friendly nature, kindness through people that supports to make their work effectively
delivered in professionalism manner while, Both Bill Gates and Peter Jones are
having a the personality traits to making their bonds with employees and close peers
one to construct a better friendly environment in their working premises.

 Neuroticism: On this factor of personality is described about the a individual that
how they can emotionally stable as well as weakness enforcement that makes them
issues arise in their support to face and overcame with that unwanted situation in
business flied.
For Example Bill Gates is having a factor Neuroticism where he is always
being proactive and monitored the emotions and sadness factor can be distract where
he always make himself a strong build up to prepare for get through this unfavourable
situations or resolving through them.
As above discussion of characteristics are determined for individual entrepreneur such
as Bill gates and Peter Jones are enough to be most important part to becoming them
successful entrepreneur where the traits and featured like innovative, feedback adaptability
and more which are actual entrepreneur behaviour which influence that to reaching their
destination in something provide as sense of accomplishment. Other factor is to maintain the
traits and behaviour of this positivity some sort of distraction get to destruct from the
professionalism mannerism in the business world (Prabhu and Jain, 2015).
To mapping the all the attribution related with entrepreneurship is highlight the
prominent factor which driven into more intellectual and introvert personality becomes to the
business field which allows to individual to devoted their goals delivered in positive way of
outcomes.
like Bill gates has worked in many IT company to explore the basic regulation work
before he starts his own venture of Microsoft Corporation.
TASK – 4
Identify the examples of entrepreneurs for their background and experience which
hinder and foster in goal achievement
The examples of two entrepreneurs that are taken from the prescribed guidelines of
this project are Bill Gates and Peter Jones for analysing their background and experience. It
creates hinder and foster for business tycoons in goal achievement are as follows:-
Bill Gates:-
Background:- The William Henry Gates III was born on 28th October in 1955 at
Seattle, Washington as son of William H. Gates and Mary Maxwell Gates. The entrepreneur
is a good technologist and philanthropist with its supportive family that always encouraged in
developing interest towards computers at early age. His grades describe genius IQ level with
scoring 1590 marks out of 1600 which is really amazing. The Bill Gates has done its
qualifications from Lakeside School and Harvard College. As being highly fond of operating
workstation so spends most of its time in computer lab less than in usual class. Its

background foster in the growth of enterprise for achieving success efficiently by developing
keen interest towards computer operation (Tarling, Jones and Murphy, 2016).
Experience:- The entrepreneur is adversely affected as not having much experience
for operating a business successfully this creates hurdle for business tycoon to learn from
previous mistakes. It hinders in accomplishment of goals and objectives for sustaining in
perfect competition market at it realize which increase more time to be successful.
Peter Jones:-
Background:- The Peter Jones was born on 18th March in 1966 at Berkshire,
England. As his father being an entrepreneur directed and instructed him to operate business
in an effective manner for attaining success. This promotes the entrepreneur to learn from
mistakes and to experience new things which results in minimising errors repeatedly and to
focus towards its target accomplishment efficiently.
Experience:- The Peter Jones does not have gained experience from its family
background which foster in success. As being not having any unique experience that results
in hamper for being a successful entrepreneur.
There is connection between personal background is not as much important is that the
individual is having determination about to being go through struggles faces challenges or
having a past financial stability to all these factor is mapped and get restructured and
optimised the personality in terms of approaching work as well as to getting gaining of
knowledge about the entrepreneur ship background.
As the entrepreneur are having sometime different formation of their background
which is somehow not related the entrepreneurship but still they have strength and passion
about to become the entrepreneur which is regulates about before they entering they are
pursuing different sort of other kind of business activity. For Example Bill Gates before he
was started his Microsoft Venture he was working at some other IT company as in manger
post in software handling while Peter Jones was also pursued different sort of working
profession as he was in advertisement company as editing operate.
CONCLUSION
From the above discussion it have been concluded that entrepreneurs analyse various
business strategies to develop their competitive advantages in an enterprise for being stable in
competitive market. This project lists various types of entrepreneurial ventures through
micro, small, medium, large and social enterprise that relates with its typology for economic
growth by survival, lifestyle, managed and aggressive growth. It also examines the similarity
and dissimilarity between these listed commercial ventures with public and corporate sector.
The project assesses relevant figures and statistics for micro and small business in an
economy. It also describes the essential requirement of small and start-up business for
economic growth by building customer relations, increase economic growth and create job
opportunities with its justifications at different levels. In addition to this, it elaborates the

optimum characteristics, traits and skills of successful person to inspire others as being an
ideal for them. It also aspects the entrepreneurship personality trait that inspire other to give
their best efforts through openness, agreeableness, neuroticism, conscientiousness and
extrovert. The project further identifies the background and experience of two entrepreneurs
which hamper and promote in being successful entrepreneurs.

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