Report on Entrepreneuship Ventures - Hays Plc
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Added on 2020-06-04
Report on Entrepreneuship Ventures - Hays Plc
Added on 2020-06-04
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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P.1 Different types of entrepreneurship and it's relation with typology.....................................1P.2 Similarities and differences between entrepreneurial ventures............................................2TASK 2 ...........................................................................................................................................4P.3 Interpretation of data to show impact of micro and small business on economy.................4P.4 Contribution of small enterprise to development of social economy...................................6TASK 3 ...........................................................................................................................................7P.5 Features and skills of 2 successful entrepreneurs.................................................................7P.6 Influence of entrepreneurial personality...............................................................................8TASK 4 ...........................................................................................................................................9P.7 Experience and background can prevent or contribute entrepreneurship.............................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurship is person who innovates new ideas and perform innovation in thebusiness. So firm can generate innovative ideas and can earn more profits. So it can increasemarket share and organization can easily expand operations in various countries. Thus companycan maintain unique and positive image in market as well as in front of users. Report discussesabout Hays plc which is a recruitment enterprise (Schaper and et,. al., 2014). It is founded in1867 at U.K. Project describes about evaluation of different types of entrepreneurship venturesrelation with typology of entrepreneurship and similarities and differences between enterprises.Assignment discusses about interpretation of relevant data,statistics to show methods throughwhich small businesses impact on economy and ways in which small occupations whichcontribute to growth of social economy after Brexit. Report explains aboutcharacteristic,skills,traits of two successful entrepreneurs which differentiates frommanagers,procedures in which assessment of entrepreneurship aspects can impact motivation andthe ways in which background and experience can hinder or foster entrepreneurship.TASK 1 P.1 Different types of entrepreneurship and it's relation with typologyEntrepreneur: They are the people who creates innovative,new and unique ideas in thebusiness. Entrepreneurship: It is the process in which entrepreneur can create new and innovative ideasin business. Thus it helps in creating growth and development of firm. Entrepreneurship Ventures: It includes enterprises in which entrepreneur can create new andinnovative ideas and can earn more revenues. They evaluate customer needs and revenues andthen starts their business. Types of entrepreneurs-It includes 4 types of entrepreneur. First is Small business management in which peoplewho starts small business in U.K. They generally increases standard of living of poor persons byproviding basic needs and facilities (Shepherd, 2015). For example through some small shipscompany can increase profits. Second is Scalable start up entrepreneurship is enterprise which1
mainly focus on vision and mission (Storey, 2016). So thus organization can recruiteducated ,qualified and talented employees so tat they can give creative and unique ideas fir thefirm. Through this firm can earn more revenues and can easily expand the operations. Theyselect staff members according to their capabilities and thus firm can achieve their mission. Third is Large start up entrepreneurship in which entrepreneurs evaluates demand andrequirements of all customers and satisfy their needs. Typology is to increase happiness andsatisfaction level of all users. Hence they can achieve their objectives and can earn morerevenues. This helps them in earning more revenues and can expand their operations on largescale. Fourth is Social entrepreneurship: In this entrepreneurship it focuses on giving solutionsto social issues and problems. Typology is to increase standard of living of all people and fulfilall their needs. Hence firm can earn more revenues and can increase the market share. It alsoleads to development of economy. Hence it results to growth and success of firm. Types of entrepreneurs:First is Male in which they evaluate demand of people and have more skills as compared to otherventures. Second is Female in which they are less skilful as compared to male venture and focuson capturing more users. Relationship of typology with entrepreneurial ventures: Typologies are- First is Survival ventures in which enterprises can fulfil basic requirements of allpersons. They can easily be linked to small scale entrepreneurs as their objective is to satisfyneeds of people. Second is Lifestyle ventures in which enterprises help in fulfilling all requireand needs of people. It can be linked to large scale entrepreneurs as their goals is to monitordemand of all persons and thus creates unique and new ideas in company. Third is Managed growth ventures in which persons know that by using differenttechniques and procedures they can earn more revenues and can expand the operations. They canbe linked to social ventures as they can increase user satisfaction by solving social problems andthus company can easily increase the profits. They can also connected to scalable entrepreneursas they know the that by selecting talented staff members they can bring innovation incompany (Williams and Vorley,2015).P.2 Similarities and differences between entrepreneurial venturesVarious similarities and differences in entrepreneurship ventures in Hays are-2
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