Type of Entrepreneurial Ventures in Business Environment - Report

Added on -2020-07-23

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ENTREPRENEURSHIPAND SMALL BUSINESSMANAGEMENT
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Different type of entrepreneurial ventures and their relation with typology .......................3P2. Similarities and Differences between social and lifestyle entrepreneurship.........................4TASK 2............................................................................................................................................5P3. Assess Data and statistics to illustrate impact of SME's on UK economy...........................5P4. Importance of SME's and Start-ups to the growth of social economy in UK.......................6TASK 3............................................................................................................................................7P5. Characteristic traits and skills of entrepreneurs ...................................................................7P6. Entrepreneurial personality that reflect motivation and mindset..........................................8TASK 4............................................................................................................................................9P7. Personal background, skills and experiences, personality that can hinder or fosterentrepreneurship success or failure.............................................................................................9CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................9
INTRODUCTIONEntrepreneurship is a process that focus on running business entity in order to gain finalresults in conducive and profitable mode. It is characterised by working with invention andmodern process so that final set targets can be accomplished in effective and efficient way. Thisreport include different type of entrepreneurial ventures that are present in business environment.There is another category which is known as small scale business which is known as importantpart of society that aids in enhancing economy and increasing productivity. This assignmentthrows light on case of Dalian Wanda group, which is the world's largest movie theatre operator .Another is Infosys, which is a well established technology organisation. Both are unrelated witheach other on number of grounds. Report consists of importance of business organisations andskills that should be present in entrepreneur in order to stand apart from others. There are severalfactors that either foster or hinder growth and performance. TASK 1P1. Different type of entrepreneurial ventures and their relation with typology Entrepreneurial ventures refers to institution which is set up in the society to achievecertain aims and objectives in particular time period. Their basic motive is to earn significantfinancial gains and remarkable market growth (Bridge, and O'Neill, 2012). These establishmentsare carried out by successful business man who function with innovative ideas and work process.There are number of resources that are needed to run business that are land, capital, resources,finance etc. All these are coordinated together towards single direction. Different types ofEntrepreneurial Ventures are discussed below: Private organisation: It is that entity that are run by group of people who have theirown rules and policies which are followed by them. They only work to earn maximumprofits and revenues. Dalian Wanda group is a privately owned and is operating innumerous sectors that are media, entertainment, construction etc. Public Organisation: Its main motive is to serve quality services to maximum numberof people. Infosys is among top IT sector that supply its services and operations inaccordance to set government policies. They have single goal and purpose that is to beattained by delivering high quality services effectively.
Social Entrepreneurs: This type of business organisations are run to deliver services topeople living in society for increasing their level of standard living. The importantcharacteristic is that work on the concept of no profit no loss. Examples are noncooperative society that have some intention (Hatten, 2012). There are certain relationship that exist between typology and entrepreneurship that are discussedbelow: Female Entrepreneurs: In society, there are female also who operate in businessenvironment and are performing well along with male business people. They carry outwork process in proper condition and face all challenges confidently that arise inbetween. Serial Entrepreneurs: This type of business entity is run by single individual and drawpolicies, regulations to work towards achieving their set mission and vision. P2. Similarities and Differences between social and lifestyle entrepreneurshipEach and every entrepreneur which is present in business environment have specificfeatures and nature associated with it. These are formed for attaining specific objective andgoals. There are similarities and differences attached to it which is mentioned below: Lifestyle EntrepreneurSocial EntrepreneurSimilaritiesSimilaritiesThey basic motive is to come up withmodern and new products or services inorder to pull large number of customersin market place so that their needs andwants get satisfied. They perform market research beforecreating any goods or services so thatthey can able to produce such thingsthat lead to meeting their demandscoherently (Alsos, Carter, andLjunggren, 2011). It is also constructed to deliver highquality services to public so that theycan enjoy high market share growth. Their primary objective is to find outneeds of people and than work in orderto satisfy it in effectual and expeditiousmanner. There are number of groups that existin society and have diverse nature, rolesand obligations that has to be met out incorrect time period. DifferencesDifferences

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