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P1. Different types of entrepreneurial ventures and typology of entrepreneurship

   

Added on  2021-01-03

15 Pages4464 Words133 Views
Entrepreneurship and SmallBusiness Management1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1 ...........................................................................................................................................3P1. Different types of entrepreneurial ventures and typology of entrepreneurship.....................3P2. Similarities and difference between entrepreneurial ventures .............................................5TASK 2. ..........................................................................................................................................6P3. Interpret relevant data and statistics and impact on micro and small business economy ....6P4. Importance of small business and start ups in the growth of social economy after Brexit...8TASK 3............................................................................................................................................9P5. Determine the characteristic, trait and skills of two successful entrepreneurs .....................9P6. Aspects of the entrepreneurial personality and reflect their motivation and mindset.........10P7. Background of Mark Zuckerberg and Bill Gates................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................152

INTRODUCTIONTo become a successful entrepreneur it is essential that persons possess some extra ordinary qualities which help them to become successful. It can provides directions to the management of company so that it can manage its business successfully. This report covers the following topics which are as follows: different types of entrepreneurship ventures and their types, similarities and difference between entrepreneurial ventures, importance of start-ups. Apart from this it also discuss about characteristic, traits ans skills of successful entrepreneurs.TASK 1 P1. Different types of entrepreneurial ventures and typology of entrepreneurshipEntrepreneurship is an business activity which is accomplish by a person. It is a capacityand willingness to develop, manage and control a business venture along with risk taking abilityto makes profit. Limited Company:It is that company which limits the amount of liability confiscated by the shareholder ofan organisation. It describes the liability of members by their stake or by way of investment.There is two types of limited company which are public and private company.3

Public company:It is that company which can issues shares to the public or open market. It stocks can betraded in stock exchange.Private company:It is that company which can raised the funds by issuing shares to the general public andit cannot trade in stock exchange (Sahut and Peris-Ortiz, 2014). Social venture:Social venture are those who work for the benefit of society and its welfare. They followsthe rules and regulations which are needed to be follow by them. The aim of the business is towork for the benefits of people. Its follows the culture and environmental changes so that theycan satisfy the persons. They follow their core principles and values and perform its workaccording to that. They impact the society by its image and money is not much important for it. Scaleable ventures:Scaleable ventures are those who scale its investments and analyse that is how much it isbeneficial for them. It is a type of operating firm who deals in business to business. Types of typology of entrepreneurship are as follows:Survival ventures:It provides the essential substance to the entrepreneur and member of its family. Thistype of business does not necessary to be registered. It has very less assets, no businessrelationship and has operates is business on barter or cash basis. Lifestyle ventures:Life ventures are those who has relatively steady source of income source for ownersbased on a workable business model. This type of venture has employees, premises but chancesof growth are less. It can not accomplish its business operations because of limited capableness. .Managed growth ventures:This type of ventures has follow the business model and want to achieve growth in itsbusiness. It focuses on launches of new product, maximise the facilities and wants to establish itsbrand image. Aggressive growth ventures:4

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