M1: Different types of entrepreneurial ventures

Entrepreneurship
and Small Business
Management

INTRODUCTION
Entrepreneurship is explained as opening business at it's own risk which is often a small
business administration. Here, all the risk and profits is completely managed by owner of the
business. The scanning the external environment the tactics are farmed in order to overcome risk
factor in intense competitive competitive world. This report is based on
P1& M1: Different types of entrepreneurial ventures
The different types of entrepreneurial vventures are as folloaws:
Small business entrepreneurship: It includes those businesses which are operating
independently at small scale level. Hence, the size of such kind of business is small and limited.
It revenues generation are very much depend on the sector or industry they relate. They enter
into market with an objective of earning livelihood due to operating at low level. For example
Grocery stores, travel agents, electricians etc.
Social entrepreneurship : These kinds of business enterprises are acquainted in the market with
an intention of bringing new and innovative products and services in the market that may satisfy
social needs and requirements of clients. Objective of such kind of business is to develop the
nation. They don't work for benefits or market share yet social welfare .
Typology of entrepreneurship: All above mentioned entrepreneurial ventures are linked
with different typologies which are described as follows:
Male: This entrepreneurship is majorly based on male who are operated business functioning
more effectively. It prohibit any female member to get involved in business decision-making
process
Female: Nowadays, the number of females are more as compared to the male due to having a
view that females have more patience than men due to which they are more capable to run and
operate business functions more smoothly.
Managed Growth: This kind of entrepreneurship is managed and controlled by both men
and women in equal ratio so as to achieve success and growth in newly business within shorter
time period. Both of them mutually work and take decisions for the betterment of business
venture.
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P2 & D1:: Similarities and difference between entrepreneurial ventures
Basis Small business Scalable start up Large company Social
entrepreneurship
Definition It is small-sized
business which
requires low
investment due to
operating at small
scale.
It is a business
which is operated
to achieve its
vision with
suitable planning
and strategies.
It is the
businesses which
are having finite
cycle that mainly
emphasis on
bringing new
products and
services
according to the
changing needs
and requirements.
They are called as
innovators wo
comes into
market with new
idea to fulfil the
needs and
requirements of
society,
Objectives To earn
livelihood.
To invite
investors to show
their willingness
to provide
financially help to
their new and
innovative ideas.
Its role is to
facilitate
customers to get
quality products
and services so so
as to maximise
their level of
satisfaction.
They have role to
create awareness
about their health
and safety
products.
All above mentioned ventures have some similarities as well which are briefly mentioned as
under:
 All such kind of ventures are established into market are mainly emphasized on
customers needs and preferences.
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