logo

The Types of Entrepreneurship

13 Pages4184 Words385 Views
   

Added on  2021-01-01

About This Document

Entrepreneurship and Small Business Management Introduction 3 Part 1 3 P1: Provide an introduction to the report by examining different types of entrepreneurial ventures and explaining how they relate to the typology (different types) of entrepreneurship. Entrepreneurial ventures are responsible for creating new job opportunity, adding the wealth to the economy of the country, and improving the standard of living in the individuals and leading to the creation of a society which is prosperous. This report also tells the details about the understanding of the type of environment which

The Types of Entrepreneurship

   Added on 2021-01-01

ShareRelated Documents
Entrepreneurship and Small BusinessManagement1
The Types of Entrepreneurship_1
Table of ContentsIntroduction......................................................................................................................................3Part 1................................................................................................................................................3P1: Provide an introduction to the report by examining different types of entrepreneurial venturesand explaining how they relate to the typology (different types) of entrepreneurship....................3P2: Building on the different types of entrepreneurial explored in P1, you are now required toexplore the similarities and differences between each....................................................................5P3: Present, interpret and assess relevant data and statistic to illustrate the impact micro andsmall business have on the economy...............................................................................................6P4: Building on the information you provided for P3, you must explain the importance that smallbusinesses and business start-ups on the growth of the social economy.........................................7Part 2................................................................................................................................................8P5: Determine what makes a successful entrepreneur.....................................................................8P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivation andmindset.............................................................................................................................................9P7: Examine, using relevant examples, how a person’s background and past experiences canhinder or foster entrepreneurship (M3, M4)..................................................................................10Conclusion.....................................................................................................................................11Reference.......................................................................................................................................122
The Types of Entrepreneurship_2
Introduction Entrepreneurshipisthe method of designing running and launching anewsmallbusinesswhich isinitiallysmallin size.The people whocreatesuchsmallbusinessare called asentrepreneurs.Entrepreneurship is defined as the willingness and capacity to develop, manage andorganize abusinessventure including the risk to make a profit.Entrepreneurship basically focusedon the launching and running of the business because of the high-risk involvement in the starting,new business and the main reason of the failure of the startup is lack of funding, an economic crisis,bad business decision making, and lack of market demand in the combination of all these things.Anentrepreneur is an entity which can launch new technology along with the new product(Hatten,2015).Entrepreneurs are said to be the assets of the country which should be used as a motivatedindividual and cultivated to the maximum number of the possible extents. Because of theinvolvement of the entrepreneurs, the way of living and working of every individual is changed.Entrepreneurial ventures are responsible for creating new job opportunity, adding the wealth tothe economy of the country, and improving the standard of living in the individuals and leadingto the creation of a society which is prosperous. Entrepreneurship has an advantage of improvingthe business organization which is being realized by all the countries, and a lot of initiatives arebeing promoted. This report is created to deal with the details of the entrepreneurship to bepromoted by the government and the small business federation in the local area. This report alsotells the details about the understanding of the type of environment which is suitable for theencouragement of the entrepreneurship and analyzing the different types of entrepreneurs (Burns,2016). Part 1 P1: Provide an introduction to the report by examining different types of entrepreneurialventures and explaining how they relate to the typology (different types) ofentrepreneurship. Entrepreneurship refers to the strategic thinking and taking the risk in the new upcomingbusiness which is beneficial for creating new opportunities. Entrepreneurship is not just only allabout creating or running a new business, but it also refers to the mindset of the people when3
The Types of Entrepreneurship_3
willing to creating new business (Morris et al., 2016). The way of thinking of entrepreneurshipdeals in uniquely solving the problem and create a new value constitutes the core of the newbusiness. Entrepreneurs are those persons who have high needs for achievement and having highself-confidence. The main thing about Entrepreneur is that they are not satisfied with their goalsbecause after achieving their goals they set new goals for the future development, and getmotivated by achieving small goals.Types of Entrepreneurship Corporate Entrepreneurship: this type of the Entrepreneurship refers to the activities whichare acquired by the larger business companies for expanding their business or diversity of theiroperations. The large business develops new ideas for the reasons which are responsible for theimproving the economic growth of the company and enhancing the competitive position (Brutonet al., 2015).Private or independent Entrepreneurship: private Entrepreneurship is the most popularEntrepreneurship type, in which private firms are initiated for the undertaking entrepreneurship.By enhancing its performance, the private entrepreneurship consists of setting up the company,new business opportunity identification and the development of the company could occur. In thecurrent time, most of the small large and microscale businesses belong to this category of theentrepreneurship (Arregle et al., 2015). Public sector Entrepreneurship: the public sector Entrepreneurship is developing forimproving the services and facilities provided to the people. Mainly these types ofEntrepreneurship are under a big organization for social service, or they are under thegovernment of the nation or state. They are directly or indirectly linked with the government.Social Entrepreneurship: entrepreneurial activities undertake the role of various NGOs andcharitable trust and organization. They include the reorganization of the social problem whichresolves them by managing the problem. Academic Entrepreneurship: there are different academic and research institutes whichundertakes the entrepreneurial activities for finding new research related to the business. Theydeal in innovative products and whose intellectual rights are being imposed on them. 4
The Types of Entrepreneurship_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurial Ventures and Small Business Impact on Economy
|19
|6144
|45

Entrepreneurship and Small Business Management
|15
|4707
|41

Entrepreneurship Assignment - P1.Examine different types of entrepreneurial ventures
|14
|4430
|359

(PDF) Introduction to Entrepreneurship
|18
|5221
|106

Entrepreneurship and Small Business Management
|17
|4362
|288

Small Business and Entrepreneurship
|16
|4770
|220