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P1. Different Types of Entrepreneurship Ventures And Their Relation With Typology

   

Added on  2020-12-09

15 Pages4362 Words456 Views
Leadership ManagementEntrepreneurship
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Entrepreneurship and smallbusiness management
P1. Different Types of Entrepreneurship Ventures And Their Relation With Typology_1

Table of ContentsINTRODUCTION...........................................................................................................................1TASK...............................................................................................................................................1P1. Different types of entrepreneurship ventures and their relation with typology ofentrepreneurship.....................................................................................................................1P2. Difference between entrepreneurial ventures...................................................................3P3. Micro and small business impact on economy.................................................................5P4 . Impact of small business on social, regional, local, national and international economy................................................................................................................................................6P5. Characteristics traits and skills of successful entrepreneurs that differentiate them fromother business managers.........................................................................................................7P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivationand mindset.............................................................................................................................8P7 Examine, using relevant examples, how background and experience hinder or fosterentrepreneurship.....................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
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INTRODUCTIONEntrepreneurship and small business management means managing all aspects of theircompany. Management is commonly coordination of multiple activities in an organisation.Owners of business use management skills to accomplishing the pre determined goals andobjective of their company. The entrepreneurship and small business management sequence isdesigned to build entrepreneurial skill step by step. This skill also demand in establishedcompanies. The capacity and the willingness to develop, organise and manage a businessventure along with any of its risks in order to make a profit. The report will cover types ofentrepreneurial ventures like micro, small, medium and large enterprises. It will also includedifference and similarities, scope, development and growth of all ventures. Its also include skillsof entrepreneurs(Lackéus and Williams Middleton, 2015.).TASKP1. types of entrepreneurship ventures and relation with typology of entrepreneurshipThere are various types of entrepreneurship ventures including small scale venture, largescale, medium and micro level ventures.Small scale businesses is the business which operates at small level and having smallno.of employee of such companies are Talent plus company with 116 employees, GraniteProperties with 143 employees etc.Their scale of operation is not so large. Small scale business are generally produced inretail operations. Like bakeries., medical stores, grocery stores or any small scaleenterprise.generally. SSI are considered to be sole proprietorship and are mostlylaboured intensive instead of capital intensive. These business are started to satisfy thedemand of local area and sole proprietor-for earning profit.Medium scale enterprises operates the medium size businesses. The classification ofbusiness is generally done according to the number of employees working inorganisation. Medium businesses have generally an employees range between 100 to 999employees. Example of this type of business is Smith brothers ( contracting) Ltd.etc(Morris, 2018).Large scale industries are the business enterprises which operates on large scale that isthey operate and produce at larger level. They are mostly capital intensive as their capitalinvestment is also high. Large scale industries operates to satisfy the demand of the wider1
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range of area. They have more employees and halving complex hierarchical structurecompared to small and Medium. These industries are capable of generating enough amount of funds to invest forresearch and development. These industries operate at large level. Hence generation moreemployment opportunities. e.g. Apex hotels, Ceuta group, HL plastics etc. Micro enterprises are very small operating business which employees not more than 9employees.Micro enterprises or micro businesses both are same. Most micro enterprises are ownedby family business with one or two persons. Generally these micro firms are run just toearn and living to support their families. The small amount of capital investment isrequired(Piperopoulos and Dimov, 2015.).TYPOLOGY OF ENTREPRENEURSHIP1. Small business entrepreneurship-small business generally considered of small or retailproducts like grocery store, travel agents, hairdresser etc. these are they people who run theirown business,2. Scalable start-up entrepreneurship -these entrepreneurs have view to attract the brightestand the best. Their job is to search for scalable business model. Their motive is to bringsomething innovative in market3. Large scale entrepreneurship-these organisation have large life cycles. This organisationbrings innovation, New technology and products in the market. They prefer at larger level. Anychange in customer's, preference. Technology or entry of new competitors can bring highlydisruptive pressure for the companies. This required a large amount of capital investment.4.social entrepreneurship- this type of entrepreneurs focuses on satisfying the needs and wants ofthe customers by creating products according to the customer's requirement(Sainidis andRobson, 2016.). entrepreneurship ventures in both the public and corporate sector. And also the scope,development and growth of entrepreneurial ventures. 1. Granite properties is a private limited company which is small scale based company dealing indevelopment of building projects. It is privately held company dealing in investment of realestate. Being private they have no restriction or policy which hey are bound to follow. 2
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