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Entrepreneurship and Small Business Management - P1 Ventures Types

   

Added on  2021-02-20

19 Pages2110 Words56 Views
Entrepreneurship
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Entrepreneurship andSmall BusinessManagement1
Entrepreneurship and Small Business Management - P1 Ventures Types_1

ContentsP1 Different types of entrepreneurial venturesand relation with typologies.....................................................3P2 Similarities and differences betweenentrepreneurial ventures...........................................................6P3 Impact of micro and small businesses oneconomy.................................................................................14P4 Importance of small businesses and businessstart ups to growth of social economy....................................172
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P1 Different types of entrepreneurialventures and relation with typologiesEntrepreneurship can be described as anability to create a new business with a fresh andinnovative concept in order to earn desire profits.It includes the use of natural resources, capitaland manpower to gain better outcomes along withbearing overall risks related to it. Types of entrepreneurial venturesSmall business entrepreneurship – Thiscan be described as small scale firms which arerun by individuals on their risk. It includes severalkinds of business including hairdressers, travelagents, internet commerce store fronts, plumbers,electricians, grocery stores and many more.However, they have main goal of earningsufficient profits to fulfil basic needs of theirfamily and they are not capable to attract venturecapital. Scalable Start up entrepreneurship – Thisinclude such businesses or start ups which as beendone by Silicon Valley entrepreneur and their3
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investors. However, they already know that theirvision of business could change the world as theyhave an ability to attract investment from equallycrazy financial investors or venture capitalists. Large company entrepreneurship – Thelarge companies are consist finite life cycles inwhich most of these organisations grow bysustaining innovation, providing fresh goods thatare variants around their core products. It consistseveral factors which encourage largeorganisations to innovate their products such aslegislation, new competitors, new technologiesand changed taste of customers. Social entrepreneurship – This refers tosuch business concern who develops newinnovative products or facilities to fulfil socialrequirements as well as issues. They did not focuson business profits but have a vision to makeworld a better place. However, it includescharitable trust and other non profits enterprises. Typologies of EntrepreneurshipThe Skeptical entrepreneur – This type ofentrepreneurs observed success of other4
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