logo

Entrepreneurship Assignment Solved

   

Added on  2020-09-17

14 Pages4606 Words35 Views
ENTREPRENEURSHIP
Entrepreneurship Assignment Solved_1
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Different types of entrepreneurial ventures and their relationship with typology ofentrepreneurship..........................................................................................................................1P2 Similarities and difference between entrepreneurial venture.................................................3TASK 2............................................................................................................................................4P3 Impact of micro and macro business on economy.................................................................4P4 Contribution of small business and start-ups to the growth of economy...............................6TASK 3............................................................................................................................................6P5. Characteristics, traits and skills of successful entrepreneur .................................................6P6 How aspect of entrepreneurial personality reflects their mind-set and motivation...............8TASK 4............................................................................................................................................9P7 How experience or background can foster entrepreneurship.................................................9CONCLUSION .............................................................................................................................10REFERENCES..............................................................................................................................11
Entrepreneurship Assignment Solved_2
Entrepreneurship Assignment Solved_3
INTRODUCTIONEntrepreneurship can be defined as a process of launching, running and designing a newbusiness in the market place and person who establishes these new enterprises are often knownas “entrepreneurs”. It is the willingness and capacity to develop, manage and organise businessventure along with different kinds of risks such as capital, political in order to generate higherprofits and revenues (Abu-Saifan, 2012). Entrepreneurs are commonly viewed as an innovator ororiginator, a source of new business process, idea, products and services. Basically, they coverteconomic resources of low productivity into higher in the areas with greater yield return. Theyplay a key role in the growth and development of economy. These are the individuals whopossess skills, knowledge and competency to anticipate existing and future needs as well asbrings creative ideas in market. This report mainly talks about different types of entrepreneurial ventures, theircharacteristics, impact of micro and macro business and lastly, contribution of theseentrepreneurs towards economy. TASK 1P1. Different types of entrepreneurial ventures and their relationship with typology ofentrepreneurshipThe term “Entrepreneurship” deals with process of creating and running new companywhich is mainly small at its initial phase and the person who designs these are often consideredas Entrepreneurs. They are the one who with their unique or creative ideas establish newbusiness venture that aims towards satisfying the needs and desires of general public in asignificant manner. Basically, an entrepreneur combines three factors of production namelylabour, capital and natural/land resources in the business opportunities that results in yieldinghigher profitability ratios and revenues for venture. Mentioned below are the variousentrepreneurial typologies via which entrepreneur can generate enough profit which are asfollows:1.Small-Business Entrepreneurship: Entrepreneurial ventures are initially established asa small business (Barringer, 2012). These are operated, owned and managed by single-proprietor. Almost all start-ups are considered as a small enterprise as they do not possessmuch financial and human resources at its initial phase. In the UK, large number of start-1
Entrepreneurship Assignment Solved_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Entrepreneurship Assignment | Typology of Entrepreneurs
|13
|4331
|43

Types of Entrepreneurial Ventures, Typologies and Impact of Small-business : Assignment
|13
|4726
|1167

Small and Micro Business Impact the Economy : Assignment
|16
|4628
|34

Impact of Small and Micro Businesses on Economy
|17
|5159
|43

Entrepreneurship and Small Business Management Assignment - Talent Plus
|17
|5500
|84

Types of Entrepreneurial Ventures- Assignment
|8
|2031
|148