Type of Entrepreneurial Ventures and Typology : Report

Added on - 21 Jul 2020

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Entrepreneurship andSmall BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1...........................................................................................................................................1P1) Types of entrepreneurial ventures and their relationship with typology.........................1P2) The similarities and difference among entrepreneurial ventures.....................................2TASK 2...........................................................................................................................................4P3) The impact of micro factors and small business on economy.........................................4P4 Importance of start-up and small business towards achieving growth in economy..........6TASK 3...........................................................................................................................................8P5) Defining characteristics skills and traits of a successful entrepreneurs..........................8P6) Characteristic of entrepreneurial reflect entrepreneurial motivation and mind set.........9TASK 4........................................................................................................................................10P7) Background and the experiences hinders the entrepreneurship....................................10CONCLUSION............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurship can be considered as the willingness and capacity to develop, organise,manage and handle any kind of business venture for taking kind of risk in order to create profitand revenue (Blackburn, Hart and Wainwright, 2013). These consist as small businessenterprises which are implemented by an individual or group who are known as entrepreneurs.Entrepreneurship is a process of designing, launching, ,managing and running a new business orits activities through taking enough risk in the form of investment, equity, time or many essentialfactors that has huge value for business or its ventures. In this competitive world the basicpurpose of each business organisation is to gaining high profit and revenue through offeringmost satisfactory services for their potential buyers, who are willing to taking advantage ofoffered products and services of firm. This report contents the study about different type ofentrepreneurial ventures and their relationship with the typology of entrepreneurship, thesimilarities and difference among entrepreneurial ventures, the impact of micro environmentalfactors on small business enterprises. The contribution of small business enterprises ondevelopment of country, various characteristic, traits and skills of successful entrepreneur willalso be discussed in detailed manner.TASK 1P1) Types of entrepreneurial ventures and their relationship with typology.Entrepreneurship is consist as an activity that is performed by entrepreneur in which theyinnovates, finances, and put their significant efforts to convert their ideas and thoughts intoproductive products. This can be described as the process of generating something new andinnovative through putting various efforts, time and energy. In a business organisationentrepreneur is responsible for all activities that are held at work place (Carraher and Paridon,2015). An entrepreneur is called by various names within the firm or business world such asowner, boss, risk taker, CEO of organisation etc. the major purpose of entrepreneurs is to takingrisk on the basis of available resources and make a proper plan for development and success oftheir business venture. Different type of entrepreneurial ventures are available, in which someare described as below:Small business entrepreneurship:The fundamental purpose of each businessorganisation is to gain attention of large number of customers and buyers in order to earn1
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