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Entrepreneurship and Small Business Management Assignment : Unilever

   

Added on  2021-01-02

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Different types of entrepreneurial venturesEntrepreneurship is refers as a procedurewhere people who is considered as anentrepreneur operate a small business to servesociety for earning profitability or performingsocial welfare. People who starts a newbusiness have to take many kinds of risk forsustaining into market like financial risk,customer dissatisfaction regarding products orservices risk and so on (El Ebrashi, 2013).Various kinds of entrepreneurial venture areavailable into market. Some of them aremention below:Entrepreneurial Venture Types:Some types of entrepreneurial ventures are explain below:Large-scale enterprises: These kindsof entrepreneurship needs largeamount of funds as well as marketshares. Large-scale enterprise produceand serves products with newconception and design to targetconsumers for accomplishing itsdemand and requirements. They introduce manyproducts or services variety as per thetrends and needs of clients for exampleTesco, Unilever, Marks and Spencer. Small-scale enterprise: These mainlyperformed commercial activities atsmaller level and its main aim is toproduce profitability. It is usuallyhandled by the firm owner and thiscannot get impacted largely with thechanges occurs into market trends.Like cafe, grocery stores and so on.Example of small scale organisationsare First mile, Third way, Ensoft andso on.Social enterprise: It facilitatesproducts or services that accomplishthe consumer’s requirements inappropriate way. Its main purpose is toserve society in order to improve. Itsliving standards in effectual manner(The Four Types of Entrepreneurship.2019). For example Interserve, PWCand so on. Kinds of various entrepreneurial typology typesENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
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Serial Entrepreneur: These areextremely creative as well as want totake risk and face challenges. Serialentrepreneur launch new goods orservices in all the areas so thatdemands andrequirements of consumers can beaccomplish.Male Entrepreneur: as per this maleentrepreneur initiates anentrepreneurship. Its main aim is toprovide effective products or servicesinto marketplace for generating moreprofitability. For example MarkZuckerberg who is the founder ofFacebook, it is utilize at internationallevel. Female entrepreneur: This isconsider to one when any femaleindividuals establish a new businessfor serving innovative products tosociety. These entrepreneurs are morecreative in comparison to others(Griffiths, Gundry and Kickul, 2013).For example Emma Kane, the chiefexecutive officers of Red leafcommunication.Lifestyle Entrepreneur: these are theentrepreneur, who concentrates upon gainingprofit, for this, they choose suitable sectors sothat they can obtain more profit as well asmarket share. It generally initiate its businessat both the level large and small depends upontheir financial abilities and interests. Similarities and differences betweenentrepreneurial venturesLarge Entrepreneurial VenturesMeaning: It operates at large level aswell as required more investment toincrease the opportunities of business(Humphrey, 2013).Decision-making: herein, theorganizational hierarchy takes most ofthe decisions.Process: They follow the formalprocess.External input: In this, externalinputs are more.Small Entrepreneurial VenturesMeaning: It is perform at smallerlevel and needs less capital.Decision-making: In this, the ownerof the firm makes whole decisions.Process: It comply the informalprocessExternal input: Herein, the externalinputs are less.Social and Scalable EntrepreneurialVentureSocial Entrepreneurial VentureDefinition: This is consider as acommercial firm, which haveparticular social objectives thatprovides their fundamental purpose.Aim: Its main aim is to serve productsor services for society welfare.Scalable Entrepreneurial VentureDefinition: This type ofentrepreneurial venture are focused onthe products quality rather thanproducing goods at large quantityAim:Its aim is to bring unique as wellas innovative ideas for the business.
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