Entrepreneurship Assignment Entrepreneurial Ventures
Added on 2020-06-06
13 Pages4301 Words33 Views
EntrepreneurshipProfessional DevelopmentPolitical Science
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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1Task 1...............................................................................................................................................1P1 Various kinds of entrepreneurial ventures and its typology..............................................1P2 Similarities and Differences between entrepreneur .........................................................3P3 Impact on the economy due to micro and small enterprises.............................................4P4 Significant of small business and start-up to contribute in the social economic growth afterBrexit......................................................................................................................................5P5 Characteristic, traits and skills of successful Entrepreneur as compared to businessmanager..................................................................................................................................6P6 Motivation and mind set of entrepreneurial reflect on personally of entrepreneur...........7P7 Background and Experiences for entrepreneurial which hindrance and foster for them..8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONEntrepreneurship is a action for setting up a new enterprises or business by undertakingeffective risk and analysis of the market in the hope of profits. For any nation, the mostimportant key person is an entrepreneur who brings their business ideas in the market andcontributes in growth and development. It can be supported by countries that experiencedsubstantial poverty reduction over the last three decades. Countries like China and the East AsianTigers are said to have capitalised on this phenomenon to drive economic development. Withthese identified benefits, the United Kingdom government is promoting the concept andphenomenon for post Brexit economic growth and development. The report will be helpful tounderstand about various kinds of entrepreneurial ventures and its relation with typology. Thedifference and variation between entrepreneurial venture. As the Significant of small businessand enterprise which are start-ups will be contribute to the growth of the nation economy. Thetraits, characteristics and abilities of successful entrepreneurs as compared to the other businessmanagers. Entrepreneurial personality reflect entrepreneurial motivation and mind set. From theappropriate and correct instances, the background and experiences can be hinder or fostersentrepreneurship.Task 1P1 Various kinds of entrepreneurial ventures and its typology.There are different kinds of entrepreneurial venture which brings better growth anddevelopment.Small business Entrepreneurship: This types of entrepreneurial are focus to make moreprofits in the firms. They are not for influencing tremendous benefit to shape therebusiness but rather to remain in a position to bolster there family and effortlessly livethere vocation. For cases, little basic need shops, craftsman, circuit testers and handymenand so forth(Fayolle and Gailly, 2015). Financing for this kinds of business are not in anexpansive scale. For the most part the independent venture business person took advancefrom that point loved ones. Scalable start up Entrepreneurship: business visionary have inventive thought with analternate item or administrations. There is mission and vision behind their business. Forany start up, there is hazard has taken by business visionary. In London this year add up1
to more than 6,000,00 Start up has just begun it demonstrates that now days everybodyneeds to do there possess business to have worldwide business visionary. For instance,Snap trip, Lyst and Host maker. Large company Entrepreneurship: For the huge organisations have numerous chanceto take there business in an alternate level. Existing item they offer to the clients bychanging with some alteration. The financial plan for there Research and advancement ishigh. Hazard is direct for item acknowledgement among the client. Financing for suchbusiness came through by present of Initial Public Offering or getting advance from thebanks. Social Entrepreneurship: The thought process of any social business person is tofulfilled the social needs and not to cover the piece of the overall industry. However thisbusiness are for the most part accomplishing equal the initial investment.The above entrepreneurial types have its typology which are related to them. This typology willbe describe below:The Sceptical Entrepreneur: This types of entrepreneur are argue in each and everysituations. They state questioning on the better things done by other entrepreneur.Sceptical entrepreneur never believes to those who had contribute in their ventures. Theytake decision on the basis of previous experiences.Copycat Entrepreneur: The name suggest such enterprises which are not thinkinganything new for their business and copied each and every aspect used by the successfulentrepreneurial had already implemented in his business.Researcher Entrepreneur: This types of entrepreneur are known for its deep knowledgeand highly sources of information across the world. They will research about the eachevery aspect before any decisions they have to made. The execution of new ideas in theirbusiness will be depends on the effective findings(Piperopoulos and Dimov, 2015). Asthe researcher Entrepreneur are successful only when they implement their learning at theright time to develop their business.The Determined Entrepreneur: This kinds of entrepreneur don't get the early success intheir business due to less contribution in the current situation for the venture but theyhave capabilities to set their images in front of the other entrepreneur.2
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