Different Type of Entrepreneurial Ventures and their co- relation with typology
Added on -2021-02-21
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Entrepreneurship and SmallBusiness Management
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Covered in Booklet.....................................................................................................................1TASK 2............................................................................................................................................1Covered in Booklet ....................................................................................................................1TASK 3............................................................................................................................................1P5 Characteristic, trait and skill of successful entrepreneur that differentiate from businessmanagers.....................................................................................................................................1P6 Assess how the aspects of entrepreneurial personality reflect entrepreneurial motivationand mindset.................................................................................................................................2TASK 4............................................................................................................................................3P7 Using example, examine how background and experience hinder or foster theentrepreneurship..........................................................................................................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................6
INTRODUCTIONEntrepreneurship is defined as the capacity and willingness to develop a business venturewith an aim of profit maximisation. Entrepreneur is an individual who has the ability to convertopportunities into invention by bearing most of the risk (Henry, C., Foss, L. and Ahl, H., 2016).They usually start a business which is small in size and they plays a crucial role in an economyas it creates the employment opportunities for the people which in turn led to the increased livingstandard. This report will discuss different type of entrepreneurial ventures and their co-relationwith typology. Moreover the importance of small business in the growth of economy isdiscussed. At last this report will cover the aspects of entrepreneurial aspects and focuses on howbackground and experience can hinder or foster the entrepreneurship.TASK 1Covered in BookletTASK 2Covered in Booklet TASK 3P5 Characteristic, trait and skill of successful entrepreneur that differentiate from businessmanagersEntrepreneur is defined as a individual who takes initiative in developing a venture withan aim of making profit. They are the decision maker of their organisation which means they areonly responsible for the failure and success of an organisation. Where as on the other handmanagers are the one who are responsible for managing the activities of an organisation ( Dunne,T. C., and et. al., 2016). For the study of this report two entrepreneur are taken namely PeterJones and Henry Ford.Peter Jones is a British entrepreneur who invented two television shows on BBC namelyDragons' Den and American Inventor. Henry Ford was an American entrepreneur who was the founder of the Ford MotorCompany and the sponsor of assembly line technique of mass production. Characteristics: It refers to the quality possessed by an individual that differentiate themfrom others. Below are some of the characteristics of successful entrepreneur:1
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