Entrepreneur and Entrepreneurial Ventures : Assignment
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Added on 2020-09-17
Entrepreneur and Entrepreneurial Ventures : Assignment
Added on 2020-09-17
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Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Different types of entrepreneurial ventures and different types of entrepreneurshiptypologies....................................................................................................................................1P2 Similarities and difference between entrepreneurial ventures...............................................3TASK 2............................................................................................................................................4P3 Impact of micro and small business on economy..................................................................4P4 Importance of small businesses and starts-ups in growth of social economy........................6TASK 3............................................................................................................................................7P5 Traits and skills of two successful entrepreneurs..................................................................7P6. Entrepreneurial personality reflects entrepreneurial motivation and mind-set.....................9TASK 4..........................................................................................................................................10P7. Background and experience can hinder and foster entrepreneurship.................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurship is the process of launching new business activities which begin as smallbusiness or start-up with a purpose of offering products or services for sale and hire. Theindividuals who take risk and start such business activities are called entrepreneurs. It can also bedefined as a process of creating something valuable by devotion of important time or money toreceive awards in the form of profit, personal satisfaction and independence. As large number ofbenefits are derived by nation through such entrepreneurial activities like development of societyand economy (Barringer, 2012).In the present report, different types of entrepreneurial ventures and typologies ofentrepreneurship, similarities and differences between entrepreneurial ventures, contribution ofsmall and micro business activities in development of economy as well as importance of businessstart-up in the growth of social economy will be explained. Also, important skills and traits ofentrepreneurs, effect of entrepreneurial personality on motivation and mind set as well ascontribution of background to hinder and foster entrepreneurship will be discussed.TASK 1P1. Different types of entrepreneurial ventures and different types of entrepreneurship typologiesEntrepreneurship: It is the process of creating something valuable through theirinnovation which helps in development of successful venture to earn high profits. On the otherhand, entrepreneurship is the combination of land, labour, resources and capital to produce highamount of profits. It totally depends upon the capacity and ability of entrepreneur to researchmarket, take risks and develop business plan to provide their products and services to generalpublic of country.Different types of entrepreneurial venturesLarge number of ventures are present to be started by an individual. It depends upon therisk taking capacity of entrepreneurs that which venture they select. As all ventures are differentfrom each other which are required to fulfil different requirements to start business activities.There are mainly four types of entrepreneurial ventures having different features as describedbelow:Scalable starts-up entrepreneurship: These starts-ups involve high amount of risk andprofit. These kinds of ventures are required to be funded by crazy investors which are1
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