Report on Types of Entrepreneurs and Business Ventures
16 Pages4396 Words132 Views
Added on 2020-06-05
Report on Types of Entrepreneurs and Business Ventures
Added on 2020-06-05
ShareRelated Documents
Entrepreneurship andSmall BusinessManagement
TABLE OF CONTENTSINTRODUCTION:.........................................................................................................................1TASK 1............................................................................................................................................1P1Different types of entrepreneurial ventures and their relations to typology...........................1P2 Similarities and differences between entrepreneurial ventures.............................................2TASK 2............................................................................................................................................3P3 Impact of micro and small business enterprise on social economy after Brexit...................3P4 How small business and start-ups will contribute in growth of social economy...................5TASK 3............................................................................................................................................7P5 Characteristics, traits and skills of two successful business entrepreneurs...........................7P6 Aspects of personality of entrepreneurs reflects its motivation and mindset........................9TASK 4..........................................................................................................................................11P7 Influence of background and experience on entrepreneurship............................................11CONCLUSION:.............................................................................................................................12REFERENCES:.............................................................................................................................13
INTRODUCTION:Entrepreneurs plays a very crucial role in developing social and economic growth ofcountry. They provide innovative business concepts to identify and fulfil the needs of people.Small business and start ups provides services and products that enhances the living standard ofthe society. Small and medium-sized business operates in domestic region by providingemployment to large amount of people. It this report different types of entrepreneurs andbusiness ventures with similarities and differences between them. It also shows the influence ofsmall and medium-sized enterprise in UK economy. Along with this role of starts and small-sizebusiness is also explained. Analysing of various traits and characteristics of entrepreneur is alsodone. Further, how personality traits describes the background of entrepreneur is also beenevaluated in this report. TASK 1P1Different types of entrepreneurial ventures and their relations to typology.An entrepreneur is a person who finds new opportunists that other people are not able to andstarts business with available resources. They take risk like gamblers for achieving higher goals.They provide new products or services that add value to society by creating wealth. (Bhatia, andBatra,. eds., 2000)There are several types of business ventures and entrepreneurs which exist in economythat are as follows:- Serial- An individual who come ups with various ideas to start up a business. This type ofentrepreneur generally moves from one business to another. If they have successfully started abusiness they hand it over to other and move on to implement new idea. They have traits ofunique and different ideas that makes them successful. Sometimes, their ideas fails due to lack offocus on one idea.Social entrepreneur- It is started to provide new services or products in society to improve theliving standard of people. It helps in creating innovative products that solve social needs orproblems. Its main objectives is to not to earn profits but to create a better society. This business
is started by identifying issues in society and solving them. It is beneficial to both people andsociety as it meets the needs by solving problems. It can be a non profit organisation or hybrid.Male entrepreneur- they are the persons that starts business only to earn profits. Female entrepreneur- They are individuals who applies feminist values in society to improvethe quality of life of women. This is done by setting up business or working from home.Example is karren Brady who is a successful politician (Gorman,., Hanlon, and King,, 1997)Lifestyle venture- These ventures are set up primarily with the aim of maintaining a particularlevel of income. These ventures are limited scalability and potential for growth because moregrowth can destroy the lifestyle for which it has been set up.Public venture- They are started by government in order to protect the interest of people. Theremain is to provide services or products to people and not to earn profit. Private venture- They are privately owned firm that is set up to earn maximum profits. P2 Similarities and differences between entrepreneurial venturesLifestyle vs serial entrepreneurs:- Similarities- They both helps in meeting the demands of people. They create products orservices that improves the living standard to people. A serial entrepreneur can also be a lifestyleentrepreneur by creating goods that improves quality of people. These both possess innovativeand unique ideas that helps business to grow and expand. Differences:- Lifestyle entrepreneurSerial entrepreneurThey are generally more aggressive than theserial entrepreneur.They are having patience and selfconfidence which makes them successfulTheir aim is not to make profits butimproving quality of the life of people.Their aim is to make profits with orwithout improving life of people. They remain engaged in one business.These entrepreneurs generally moves fromone business to another.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Small Business and Entrepreneurship Impact on the Economylg...
|17
|5387
|127
P3 Impact of micro and small business on UK economylg...
|15
|5386
|26
Entrepreneurship &Small Business Management Assignmentlg...
|15
|4378
|42
Entrepreneurship and Small Business Enterpriselg...
|15
|4707
|56
Entrepreneur and Its Worklg...
|16
|5160
|65
Unit 9- Entrepreneurship and Small Business Managementlg...
|15
|4646
|42