Types of Entrepreneurial Ventures and their Impact on the Economy | Desklib

Entrepreneurship and
small business
management

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.......................................................................................................1
M1. Identification of different entrepreneurial ventures to understand entrepreneurship in both
corporate and public sector..........................................................................................................3
D1. Examination of scope, growth, and development of the entrepreneurial ventures...............3
TASK 2............................................................................................................................................3
P2. Explore the similarities and differences between entrepreneurial ventures..........................3
P3. Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy..............................................................................................5
P4. Explain the importance of small businesses and business start-ups to the growth of the
social economy............................................................................................................................7
M2. Analysis of small, medium, and large scale firms differences that they put on the
economy of a nation.....................................................................................................................8
D2. Examination of the impact that small business put of various levels of economy that is
local, regional, and national and that too with international reference........................................8
TASK 3............................................................................................................................................8
P5. Characteristics, traits and skills of successful entrepreneurs.................................................8
P6. Aspects of entrepreneurial personality depict motivation...................................................10
M3. Evaluation of appropriate strategies that helps in improvement of market positive and
further taking a competitive edge over others in the market.....................................................11
D3. Analysis of different characteristic traits and skills of entrepreneurs that makes them
successful and also differentiates them from other manages by using suitable examples for it12
TASK 4..........................................................................................................................................12

P7: Background and Experience can hinder or foster Entrepreneurship...................................12
M4. Identification of the link between various entrepreneurial characteristics and the level of
influence that experience and personal background put on successful entrepreneurs...............13
D4. Detailed evaluation and analysis of the factors that is background and experience and their
impact on entrepreneurs in both positive and negative aspect..................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
The term "entrepreneur" relates to an individual who builds a corporation according to their
own terms by actually following their passions and interests (Audretsch and Lehmann, 2016).
Entrepreneurs are also well-versed in taking financial risks and managing their commercial
activities with the goal of achieving achievement in a brief span of time. The entrepreneur, it
may be argued, invests in selecting their personal endeavour based on their unique interests and
passions. They are self-motivators that constantly encourage their self and the squad members to
stay engaged in the job and achieve all specified mission and targets in a reasonable timeframe.
It's also been discovered that businessmen believes in delivering innovation to civilization by
merely describing economic issues and presenting anything fresh and unique to clients, which
affects their desire to buy the item and meet their wants. Entrepreneurship is proven as an
efficient notion that emphasises taking chances in order to successfully start a firm by merely
attracting the attention of a big number of individuals.
The ongoing study contains details on the various sorts of corporate entrepreneurship as well
as their phenotypic traits. It will also look into the impact of SMEs mostly on country's economy.
Moreover, using the oceanic paradigm, data is offered on many facets of individual's culture in
order to effectively represent it. Furthermore, a full analysis of two different leading UK
businessmen in terms of functionality, attributes, and abilities is presented. Finally, this would
describe the investor's history and how it helps or inhibits entrepreneurship.
TASK 1
P1. Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship
An entrepreneurship can be defined as a person who's not afraid to take chances in order to
come up with unique and inventive solutions to problems that the general public faces. In this
regard, it can be stated that there are numerous types of entrepreneurial initiatives that've been
briefly examined as follows:-
Small enterprise- These might be regarded to this as the kind of revolutionary
organizations which need fewer expenditure. This business is normally established by just one
person and also has the purpose of developing acceptable amount of earnings and revenues via
arranging of products and also amenities of great talent. These businesses operate with the