Report on Entrepreneur and Innovative Technique
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Added on 2019-12-18
Report on Entrepreneur and Innovative Technique
Added on 2019-12-18
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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................3TASK1.............................................................................................................................................3P1 Entrepreneurial venture or enterprise.....................................................................................3P2 Similarity and difference between entrepreneurial ventures.................................................4TASK 2 ...........................................................................................................................................6P3 Micro and small business and economy................................................................................6P4 Small business and business start ups after Brexit.................................................................7TASK 3............................................................................................................................................8P5 Characteristics, traits and skills of successful entrepreneur..................................................8P6 Aspects of entrepreneurial personality-.................................................................................9TASK 4..........................................................................................................................................10P7 Rewards and drawbacks of entrepreneurship......................................................................10CONCLUSION..............................................................................................................................11REFERANCES..............................................................................................................................12
INTRODUCTIONToday in competitive world to run a business is the not an easy task for any person. Anentrepreneurship can revolutionise the current pattern of the things we use today. Theentrepreneurship can includes designing, preparing and to run a business in which the profit canbe made by the entrepreneur (Dacin, Dacin and Tracey, 2011). In the entrepreneurship the personstarts, organise and manage small things to start a business. There are different style choice forstart up as well as the process in which he wants to start his own business in the market. Anysort of entrepreneurship is started on the small level and after that its business of goods andservices decides whether it going to be a larger level in the future or the same level business. Inthe following report it will be discussed that how an entrepreneur can change or modify thecurrent scenario of the market by the innovative technique and tools. Thus in the following reportthe importance as well as different types of difficulty an entrepreneur faces to start his business.TASK1P1 Entrepreneurial venture or enterpriseAn entrepreneurial venture or enterprise is business entity which deals in commercial,financial and industrial activities (Dacin, Dacin and atear, 2010). An entrepreneurial venture canbe profit or non profit generating. Many entrepreneurial venture are started for achieving profitby the business while some entrepreneurial venture have the purpose of non profit and socialdevelopment motive. There are many types of entrepreneurial venture like life style entrepreneurventure or business,serial entrepreneur venture or business female entrepreneur business andmale entrepreneur business. These all types of entrepreneurial venture can be explained below-1.Lifestyle entrepreneurial venture- Lifestyle entrepreneurial venture can be defined as abusiness in which the purpose of the entrepreneur is not only to achieve maximum profitmaking but also to alter the lifestyle of his own. In the lifestyle entrepreneurial venturethe main purpose of the entrepreneur is not financial profit rather to innovate in a way toupgrade the lifestyle of the particular part of the society.2.Serial entrepreneurial venture- Serial entrepreneurial venture is a business in which anentrepreneur start the another business after establishing the first business. Theentrepreneur in the serial entrepreneurial venture handles more that one businessenterprise because of the success of the previous business. In this type of entrepreneurial
venture the best part is that the size of the business is larger than other entrepreneurialventure as the entrepreneur runs many businesses at the same time (Defourny andNyssens, 2010).3.Female entrepreneurial venture- The female entrepreneurial venture is a unique anddifferent by nature and structure from the other entrepreneurial ventures like serialentrepreneurial, serial or social entrepreneurial venture as it has the focus on theoperations operated by female entrepreneurs.4.Social entrepreneurial venture- Social entrepreneurial venture is the business in which themain objective of the business is not profit making .Instead the main purpose of thisentrepreneurial venture is to make effort for the betterment of the society in which all liveand the society is the most important factor which affects the business of every kind ofentrepreneurial venture .The social entrepreneurial venture try to make efforts for thesafety of the people of the society as well as environment protection (Dennis, 2011).Thus there are many types of entrepreneurial venture which operates their own businessin different ways. Each entrepreneurial venture has the unique purpose of their business. Some ofthe entrepreneurial adventure have the purpose of generating maximum profit while some havethe purpose of expanding their business time to time. While some entrepreneurial adventureshave the purpose of making the society better with efficient efforts while some entrepreneurialventures have the main purpose to bring revolution in the society as well as the lifestyle of theentrepreneur himself.P2 Similarity and difference between entrepreneurial venturesSimilarity between serial entrepreneurial venture and lifestyle entrepreneurial venture canbe explained in many ways. Lifestyle entrepreneurial venture is similar in the term of objectiveor purpose of the business as the lifestyle entrepreneurial venture has the purpose of satisfyingthe personal motive of the entrepreneur as profit maximisation while in the serial entrepreneurialventure has the purpose of profit maximisation and revenue generation by expanding thebusiness after the successfulness of the current business. The lifestyle entrepreneurial ventureand the serial entrepreneurial venture prefers the non social objective instead of social objective.Another similarity between serial entrepreneurial venture and lifestyle entrepreneurialventure is both entrepreneurial ventures use the niche marketing in which the target audience is
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