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P2.Explore the similarities and differences between entrepreneurial ventures

   

Added on  2021-02-20

17 Pages4359 Words585 Views
Entrepreneurship and SmallBusiness Management
P2.Explore the similarities and differences between entrepreneurial ventures_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1.Examine different types of entrepreneurial ventures and explain how they relate to thetypology of entrepreneurship......................................................................................................3P2.Explore the similarities and differences between entrepreneurial ventures...........................4M1 Investigate a diverse range of entrepreneurial venture to demonstrate an understanding ofentrepreneurship in both the public and corporate sector ..........................................................5TASK 2............................................................................................................................................5P3. Interpret and assess relevant data and statistics to illustrate how micro and smallbusinesses impact on the economy. ...........................................................................................5P4 Explain importance of small business and business start-ups to the growth of socialeconomy......................................................................................................................................6M2 Evaluate the differences small, medium and large businesses make to the economyapplying relevant data and statistics ...........................................................................................6TASK 3............................................................................................................................................8P5 Determine the characteristics traits and skills of successful entrepreneur that differentiatethem from other business managers. ..........................................................................................8P6 Aspects of entrepreneurial reflect entrepreneurial motivation and mindset........................10M3 Explore and examine different lines of argument relating to entrepreneurial characteristics...................................................................................................................................................12TASK 4..........................................................................................................................................12P7 examine using relevant examples, how background and experience can hinder or fosterentrepreneurship........................................................................................................................12M4 Analyse the link between entrepreneurial characteristics and the influence of personalbackground and experience to specific successful entrepreneurs ............................................12CONCLUSION..............................................................................................................................13REFRENCES.................................................................................................................................14
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INTRODUCTIONEntrepreneurship is defined as the procedure for developing and implementing a newbusiness idea in market. An entrepreneur is defined as an individual who generates an idea andwork upon it to implement it in actual market. The main aim of every entrepreneur is to analysenew trends and lifestyle of people and make products and services which are needed bycustomers. This will help in capturing market share easily and making profits within less time.The different topics covered in this project are different types of entrepreneurial ventures,typology of entrepreneurship and how small business ventures helps in increasing economicgrowth of the country. TASK 1P1.Examine different types of entrepreneurial ventures and explain how they relate to thetypology of entrepreneurship.The different type of classification of entrepreneurship are described below- Based on the type of Business.- There are basically three types of entrepreneurship according tothis type of business and these are traders, manufacturers and agricultures. Trades are those whoare involved in producing and manufacturing of products. Manufacturers are those who identifythe needs and demands of customers and make products according to that. The agriculturalactivities is the third type of business that includes growing, trading of agricultural products,irrigation, mechanization and agricultural technologies. Based on the use of technology- Technical entrepreneurs are entrepreneurs who use science andtechnology in their business. Non-technical entrepreneurs. The priorities of them enterprises arenot science and technologies. Based on ownership.- Private entrepreneur is one who as an individual person establishes abusiness, is the sole owner of the company and assumes all the risks associated with it. Stateentrepreneur is When a commercial or industrial enterprise is run by public or government. Jointventure entrepreneurs are when a private entrepreneur and government co-managing a business.Based on gender.Men entrepreneurs when business is owned, managed and control by men. And femaleentrepreneurs are when enterprise is owned and controlled at least of 51% of capital by woman.Based on size of enterprise.
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Small-scale entrepreneur who has invested in to business up to Rs 1.00 crore.Medium- scaleentrepreneur who has invested in to business above Rs 1.00 crorebut below Rs 5.00 crore. Large -scale entrepreneur who has invested in to business more then Rs 5.00 crore.Small business entrepreneurship This is defined as the small business which are owned privately and operated with fewemployees. There is less volume pf sales in such kind of business. Scalable startup entrepreneurship The scalable startup entrepreneurship consists of various startups started by newentrepreneurs for achieving goals and targets of themselves. This includes business started by newpeople to achieve their passion. Large company Entrepreneurship This involves of various big firms which cooperate and collaborate to operate in businessenvironment. They have generally more than 1000 employees. Social Entrepreneurship Social entrepreneurship means the person has started operating an organisation for socialwelfare of the society. These are in the form of Trusts and NGO's. Corporate Entrepreneurship These are those businesses which are started by entrepreneurs for making profits andgoodwill in market. Public sector entrepreneurship The public sector entrepreneurship are those which are operated by government of thecountry. The main products of these businesses are fertilizers, natural gas, coal, steel, etc. P2.Explore the similarities and differences between entrepreneurial ventures.Difference-: Small scale enterpriseScalable enterpriseStart ups are result of idea of an anotherperson or business and these aregenerally stolen ideas of any otherbusiness method. The main objective of Start ups is toScalable businesses are result of newinnovations and ideas of individual.The main objective of these enterprisesis to bring innovation into existing idea.
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