(solved) Entrepreneurship Assignment Sample
Added on 2020-06-03
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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Varied types of entrepreneurial ventures..........................................................................1P2 Similarities and differences between different entrepreneurial ventures..........................2TASK 2............................................................................................................................................3P3 Impact of micro and small businesses on the economy...................................................3P4 Contribution of important small businesses and business start-ups in growth of socialeconomy.................................................................................................................................5TASK 3............................................................................................................................................6P5 Successful entrepreneurs and their characteristic. Traits and skills..................................6P6 Various personality dimensions with entrepreneurship....................................................7TASK 4............................................................................................................................................8P7 How background and experience can hider or foster entrepreneurship............................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurs have become the most crucial component of a business. There are variousappreciable roles which are played by these entrepreneurs. They are all unique with their ideas,beliefs, skills, abilities, traits and characteristics (Storey, 2016).Further, they work for differenttypes of organisations based on their purposes, scope, etc. In the present undertaking report,antithetic entrepreneurial ventures are discussed. In addition to this, impact of small and mediumsized entities on the UK is also explained in the present work. It should however be recognisedthat the central aspect of the undertaken report is entrepreneurship. For this, common personalitytraits, characteristics and skills of successful entrepreneurs are discussed. In addition to this,factors that can foster or hinder the way of an entrepreneur in becoming successful are alsoanalysed. TASK 1P1 Varied types of entrepreneurial ventures.Entrepreneurial ventures are the newly developed business with a unique and creativeidea. It should be noted that mostly these ventures are started as start-up businesses on a smallscale. However, it does not mean that these businesses are not for larger scale. There exist variedtypes of entrepreneurial ventures, some of them are explained below:Small business entrepreneurship: There exist a large number of small sized enterprisesthat are operating effectively in present time. These are generally operated by individualswith the involvement of their families. Some most common type of small businessentrepreneurship involves grocery store, travel agents, small stores, etc. They arecompletely managed by the owners. This organisation requires less investment for the setof business. However, it should be recognised that there exist a large number of SMEsthat plays a crucial role in the GDP of a nation.Large scale entrepreneurship: There exist a finite life cycle to such type of entrepreneurs.These companies’ aims on bringing innovative ideas to the world that can assists inincreasing their business value. These are larger in sized and settled up with a largeamount of investment. Some major large business entrepreneurship includes supermarket
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