Types of Entrepreneurial Ventures and Typology of Entrepreneurship

This presentation provides an overview of different types of entrepreneurial ventures and the typology of entrepreneurship. It discusses the roles, objectives, and structures of private, public, social, micro, medium, and small ventures. The presentation also highlights the similarities and differences between these ventures and their contributions to the economy.

Entrepreneurship and Small
Business Management

Different types of entrepreneurial ventures and
typology of entrepreneurship
 Entrepreneurship refers to a business that is started by an individual for specific purpose.
The person takes high risk and effective decisions to start a business.
 Entrepreneur is responsible for managing and operating overall business activities.
Basically, entrepreneurial ventures are small size companies and they provide goods and
services at small level.
 However, it is analysed that there is difference between entrepreneur and intrapreneur
which is discussed as :-

CONT..
Entrepreneur Intrapreneur
A person who sets his own business
idea into concept.
It is an employee in organisation who is
responsible for innovating products,
methods, etc.
The resources used are owned and
self.
Here, resources are provided by the
company.
The capital is raided through several
sources of funding
Capital is provided by company.
In this whole risk is taken and
bearded by individual.
The risk is bearded by organisation.
The business is started to lead in
market.
It is done to change existing system or
redesign something new.

CONT..
There are different types of entrepreneurship ventures that exists within an economy. The size
and scale of operations of ventures depends on its type. Also, products and services offered by
them is based on that. They are as follows :-
 Private- they are those ventures which is privately owned. The main purpose is to earn
profits by offering products and services to customers. These ventures are owned by group
or individual. The scale of operation depends on their goals and objectives.
 Public- the ventures are usually owned by government. The main aim is to provide various
services to public at low cost to fulfil their needs. The services include health, education,
safety, etc.

CONT..
 Social enterprises Under this, the main motive of entrepreneur is to promote welfare in
the society. The main aim of this this enterprise is to sort out the social needs and
problems. Thus, purpose of this enterprise is to bring improvement in the living conditions
of people. Henceforth, this firm undertakes activities as to conduct extensive research to
bring development in products.
 Scalable enterprise- They are the set who bring innovation and creation in market. They
are undertaking their business activities with help of searching the repeatable and scalable
business model. Thus, the amount of the profitability generate by this enterprise will be
utilized for undertaking research and development process to bring out more innovative
methods

CONT..
Apart from types of ventures, there are different size of ventures as well. So, each one
contributes towards GDP of economy. However, classification is done below :-
 Micro- they are the ventures whose are small in size and employ 0-9 people. the products
and services provided are of limited categories as well. Moreover, they operate in
relatively small area and turnover is less than € 2 million.
 Medium- the ventures are big in size and operations as compared to small. They are
usually started by group of people or an individual. The employees employed are less than
250. Also, turnover is €18 million.
 Small – A small enterprise is bigger than micro but smaller than medium. They operate in
large area as compared to micro. However, employees working are 10-50.

Similarities and difference between
entrepreneurial ventures
Dimension Private Public Social
Roles Role is to generate huge
amount of profits.
Role is to serve public by
fulfilling their needs.
The role is promotion of
social welfare in society.
Objectives The main objective is to
earn profits and revenue
by offering products and
services.
Objective is social
welfare of public by
providing them basic
services.
Its objective is similar to
public one that is social
welfare of society.
Structure Its structure is large and
complex and is
formulated by top
management
The structure is large and
formed and managed by
government.
The structure can be
either set by government
or by company.
Size Its size is large and
depends on goals.
Generally, they operate at
global level.
Its size is large but they
only operate at national
level.
The size depends on
objectives.

CONT..
Dimension Micro Medium Small
Roles Role is to
operate in local
area and serve
people.
Role is to
contribute in
GDP by
expanding in
other areas.
To provide
products and
services to
people.
Objectives Here, objective
is to earn profits
and provide
services to
people.
To earn huge
profit by
offering high
quality services.
To contribute in
GDP of nation
and generate
revenue.

CONT..
Similarities in ventures
 There are several similarities between ventures as they all contribute in GDP of nation.
Also, all of them objective is to earn profits by providing products and services to people.
 Moreover, ventures provide employment to society and also help in improving their social
life by fulfilling their needs.
 Furthermore, all venture except public pay tax to government. Similarly, the social
enterprise also has main motive to earn long term profit but this entity generating revenue
for the welfare of the society.
 is analyzed that ventures follows a specific structure and laws and regulations. However,
small, micro and medium venture objective is to earn huge revenue and expand in different
markets.

REFERENCES
Books and journals
 Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
 Kaushik, B. and Chanu, A.I., 2017. Growth of entrepreneurship ventures vis-a-vis women
entrepreneurship ventures in MSME sector in BTAD, Assam. International Journal of Tropical
Agriculture, 35(2), pp.213-221.
 Venkataraman, S., 2019. The distinctive domain of entrepreneurship research. In Seminal Ideas for the
Next Twenty-Five Years of Advances (pp. 5-20). Emerald Publishing Limited.
 Welter, F. and et.al., 2017. Everyday entrepreneurship—a call for entrepreneurship research to embrace
entrepreneurial diversity.
 York, J.G., O'Neil, I. and Sarasvathy, S.D., 2016. Exploring environmental entrepreneurship: Identity
coupling, venture goals, and stakeholder incentives. Journal of Management Studies, 53(5), pp.695-
737.

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