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Entrepreneurship Assignment - UK

   

Added on  2020-06-04

17 Pages4703 Words39 Views
ENTREPRENEURSHIP

Table of ContentsINTRODUCTION...........................................................................................................................1TASK-1............................................................................................................................................1P1 Types of entrepreneurial ventures and their relation with Typologies..................................1P2 Similarities and differences between entrepreneurial ventures.............................................2TASK-2............................................................................................................................................4P3 Assess and interpret relevant data and statistics and how the micro and small businessimpacted .....................................................................................................................................4P4 Small business and business starts up contribution in growth of the social economy...........6TASK 3............................................................................................................................................7P5) Characteristics and skills of entrepreneurs...........................................................................7P6) Reflection of entrepreneurial personality on motivation and mind set..............................10TASK-4..........................................................................................................................................11P7 Background and experience can hinder or foster entrepreneurship.....................................11CONCLUSION..............................................................................................................................12REFERENCE.................................................................................................................................14

INTRODUCTIONFor establishment of small business entities, country's government prepares policy planinfluences its economic growth. It is effective for improving education, employment andeconomic sector of the nation at higher level(Siqueira, Webb and Bruton, 2016). The presentreport is based on understanding significance of entrepreneurship for UK and impact of Brexit onits monetary performance. In this regard, different entrepreneurial ventures and their relationwith typologies are to be discussed. Moreover, impact of Brexit and increasing small businesseson country's social-economy performance will be introduced in this assignment(Drucker, 2014).Besides this, it also covers understanding characteristics of en ideal entrepreneur which arerelated with motivation and mind set. However, significance of entrepreneurship is to beunderstood for socio-economic development of UK in this assignmentTASK-1P1 Types of entrepreneurial ventures and their relation with TypologiesThe entrepreneur is a person who derives the business risk associated with and they have variousideas and thoughts and by using those ideas and thoughts they set up their business and performit accordingly and they essentially come in a market to take down risk and generating morereturns(Hart and et.al., 2015). There are different types of entrepreneurial ventures and all suchare working at different levels such as social, scalable and small level. The various new venturesare established and all have different purposes and objectives and they are working accordinglyto raised down their mission and vision. The various entrepreneurial ventures can be described asfollows:Small business ventures:These are working at small level and they essentially set uptheir business activities in such a manner which directly helps down country in raising itsgrowth and profitability and also improve its economic position. The person who startedsuch business are unique thinkers and on the basis of that mind set they start suchbusiness and perform their operations.Scalable entrepreneurship:This venture is essentially set up to create and to expanddown any company on the basis of their innovation and techniques in their businessoperations. It is very risky for the business entity to create down the new product and todevelop it in order to attract down customers towards that product.1

Large company entrepreneurship:These are such ventures which work at higher leveland they essentially made an investment regarding their business activities and operationswhich essentially helpful for them in raising their objectives(Acs, Autio and Szerb,2014). They made a contribution time to time so that it helps down business in generatingmore productivity and profitability. For example:The company purchase new machineryso that it save their time money and efforts and also improving their quality andproductivity and expand their business.Social entrepreneurship:They are essentially set up for conducting social activity andalso made contribution under the social growth and development and raising funds byway of conducting various programs and used such funds in field related to education,employment and they generally set up for the social cause. The various Socialentrepreneurship are NGO, charitable trust whose main aim is not to earn profit but toprovide services to individuals. Entrepreneurship TypologiesThe different types of entrepreneurial businesses are set up and certain typologies are describedin that course. Moreover, the entrepreneur should have knowledge regarding their businessactivities and operations which that they have to performed and on that basis only they madedown a positive impact on the economy and raising down goals and objectives(Chatterji,Glaeser and Kerr, 2014). In regard to this different types of ideas are generated by differententrepreneurs to meet down the targets and also helps down the business in increasing theirproductivity.P2 Similarities and differences between entrepreneurial venturesEntrepreneur is a person who comes with innovative ideas, thoughts and using those ideas toconduct its business operations successful(Mian, Karadeniz and Sarfaraz, 2014). Such venturesdirectly aiming towards in increasing the social and economic growth of the economy and theyalso made an impact on business operations. They also influence the countries position andcreate a competition for the other nations. These all enterprise are established to achieve downsocial and economic growth of the country. There are certain differences between the enterprisesin terms of their working and there contribution in form of social and economic and it can beunderstood on the basis of following chart:-BasisSmall levelScalableLarge companySocial2

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