Types of Entrepreneurial Ventures and Typology of Entrepreneurship : Project Report

   

Added on  2020-07-23

19 Pages5733 Words48 Views
Entrepreneurship and SmallBusiness Management
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INTRODUCTIONEntrepreneurship means starting a new small venture, it plays an important role in everybusiness organisation. The persons who starts new enterprise on their own risk is known asentrepreneurs. Mostly they are risk takers and develop a huge change in current economy. Ininitial stage, business managers start with small companies. People start new firm to attainspecific goals like profit maximisation, cost minimisation, employee retention, to increaseproductivity and organisational growth (Roth, 2014). The term ''Entrepreneurship'' includesplanning, initializing and starting a brand new venture. This kind of firm provides variousinnovative goods and services. Managers of small firms are responsible for their actions andmanagement activities. Little enterprises helps in providing personal satisfaction, employmentservices, innovation and economic growth. In this project report various types of entrepreneurialventures and typology of entrepreneurship has been explained. Along with this, impact ofbusiness person on entrepreneurial motivation has been evaluated. P1 Types of entrepreneurial ventures and relate them to typology of entrepreneurshipEntrepreneur is a wide term, with the help of this individuals run their new businessenterprise to achieve desired goals and objectives (Raposo, and Do Paço, 2011). When a personstart his new firm, in beginning he establish small company and then make it large with hiscontinue efforts. Entrepreneurship gives various career opportunity to various unemployedindividuals. There are four type of entrepreneurial ventures which are given below:Lifestyle venture: This kind of businesses are based on lifestyle sector. Managers of thisventure are highly focuses on glamorous world. They do not give focus point to generateincome instead of this they focus on life-style of consumers.Survival ventures: In this entrepreneurs give high attention to making profit for thesurvival of business person and his family members (Preuss, 2011). Commercial ventures: Organisation with aim of aggressive growth is highly focused ondevelopment of firm and better performance in future. This type of firm comes undercommercial ventures.Social ventures: Social enterprises are established to increase welfare of culture. It givesmore importance to human values rather than generating income.1
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