Entrepreneurship and Small Business Management of Typologies

Entrepreneurship
and
small business management

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Examine the different types of entrepreneurial venture, typologies and similarities and
difference between entrepreneurial venture................................................................................1
Impact of businesses on national, international and social economy or its impact on different
types of businesses by using data and statistics..........................................................................7
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
Entrepreneurship refers the activity of setting up a business or businesses and taking
financial risk with the hope of profit. It is the process of making and introducing a new business
and start up which is known as entrepreneurship. It defined as willingness of peoples for build
and arrange new venture by taking various risk at the time of starting new business. So that,
business will help to generate profit by selling products and services (Barringer, 2015).
Entrepreneur is single peoples who start new business and venture by setting aim and objectives
which is earned money and profits from business. The small businesses are generally generated
low profit as compare to large business and companies. The will outline by the different types of
entrepreneurial ventures and its similarities and various differences between the ventures of
entrepreneurs. The impact of small business on economy.
MAIN BODY
Examine the different types of entrepreneurial venture, typologies and similarities and difference
between entrepreneurial venture.
Entrepreneurial venture is refers new business which is started by the entrepreneur with
the aim of earning money and profit by producing product and services for customers. Customers
are very important and necessary part of business because they are purchase product and
contribute for increasing profit of business. There are different types of entrepreneurship which
are as follows:
 Craftsman
Craftsman is skilled workers in a particular art and craft. A man who makes things
skilfully with hid hand and innovative scenes (Blundel, Lockett and Wang, 2017). They were
given raw material items for make various product like chair, clothing, food and other various
product which are necessary for families.
 Opportunist
Opportunist is exploiting immediate opportunities and especially regardless of planning
or principles of work. That types of entrepreneur are easily identified, exploits and executes there
opportunity in the first hand.
 Independent
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The independent entrepreneur are completely free from outside control not have subject
to another authority of business. They are done their work by self without any help or support are
known as freelancer. This is self employed and hired to work for the different companies for the
particular work and task.
 Risk-oriented
Risk oriented peoples are take risk in their business and get complete success in their
business life (Burns and Dewhurst, 2016). Risk is very important part of business without this
entrepreneur is able to done their work with great success.
 Managerial
The managerial entrepreneur are takes a special person, that have one which is willing to
take risk by other normally not. They are coupled with vision and mission of business. By this,
they are motivated own for work.
 Innovative
An innovative entrepreneur is peoples who are come up with completely new things and
ideas for work in effective manner (Burns, 2016). They are owner of creating new things in
products and services. That types of entrepreneur are generally not takes risk with their business
and its growth factors.
 Family oriented
The family oriented business and entrepreneur are handle their family business in
starting. After, some time they are make innovative things in their business for get success and
build the best goodwill at marketplace.
 Prospector
Entrepreneur has the fundamental goals and objectives for start business in effective
manner. They are find the needs of market as per analysis customers needs and wants of
business. They are give hard efforts for their business and its best and effective growth at
marketplace.
 Reactor
Reactor entrepreneur is program which are provided best platform for drivers in order to
develop soft skills in the teamwork and communication. They are promoted the things for future
goals and guide with the help of design thinking approach for innovation.
 Follower
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