Entrepreneurship INTRODUCTION.1 Task 1 P1. Different types of entrepreneurial ventures and their relation with typology

Different types of entrepreneurial venture and its relation with typology .1 P2.The similarities and differences between entrepreneurial ventures 2 Task 2 .4 P3. Evaluation how background and experience can foster and hinder entrepreneurship11 CONCLUSION12 REFERENCES14 INTRODUCTION The entrepreneurship is innovative and extraction of business related within it creates a new business related by adding on risk, own capitalism as well as satisfied expected reward through innovator a source by optimising new ideas, good and service or business operation (Baker

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Task 1...............................................................................................................................................1
P1. Different types of entrepreneurial venture and its relation with typology.......................1
P2.The similarities and differences between entrepreneurial ventures..................................2
Task 2...............................................................................................................................................4
P3. Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy.........................................................................................4
Interpretation:.........................................................................................................................5
P4. Importance of small business and business start-up........................................................6
Task 3...............................................................................................................................................8
P5. Characteristic, trait and skill of entrepreneurs that differentiate them from manager.....8
P6. Evaluate aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset.................................................................................................................................10
TASK 4..........................................................................................................................................11
P7 .Examine how background and experience can foster and hinder entrepreneurship......11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................14

INTRODUCTION
The entrepreneurship is innovative and extraction of business related within it creates a
new business related by adding on risk, own capitalism as well as satisfied expected reward
through innovator a source by optimising new ideas, good and service or business operation
(Baker, and Powell, 2019). Their main key role of an entrepreneur is in economic value through
assorting skills and innovation by better contributing towards society and business sector as well.
Entrepreneur wo prove to be successful in adopting risk of start up as they attaining reward,
profit and continued growth opportunities. In this report there is topic which is entitled to cover
description about entrepreneurship with their activity, the difference between serial
entrepreneurs, entrepreneur and owner manager (Dana, Ratten, and Honyenuga, 2018).
Lifestyle and growth firms with having corporate a public sector context. Different role and
characteristics of micro, small and medium sized organisation. By better understanding towards
social enterprise, social entrepreneur and having growth of the social economy.
MAIN BODY.
Task 1.
P1. Different types of entrepreneurial venture and its relation with typology.
The meaning of Entrepreneurial venture is one of get managed by an entrepreneur and
with that have achieve their desire to be accomplish in professional careers. The purpose of
creating business identity as they mainly generate for more profitability along with better sales
and profit through liable changes as per requirement and demand of workplace. Entrepreneurship
is one of that create or extract some new ideas which enhance value as well as making working
towards society.
Concept of entrepreneur.
 Social Enterprise: It is an entrepreneur that get to work on better ideas who has worked
on different places to dealing with ideas. This is one of desirable which is having
business operation that having more perfection through better success and development
through get accomplish (Doern, Williams, and Vorley, 2019). It tend to get presumes
business a completely finished towards market gain and attaining for accomplish
challenges.
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 Owner manager: It is one of that manages as per small business venture where all the
customised to implies towards positive succession planning that making satisfied by the
demand of local customer.
 Intrapreneur: It is one of get recognize where individual who has worked on different
project through applying better creativeness and innovation that enhance in effective
utilisation or advanced resources with having manages where the task with more
capabilities where suitable changes to get attained in favour of business.
Typologies entrepreneurial.
The entrepreneurship venture which has attaining various kind of typologies through
which proper systematic that will enhance to managing diverse activities :
 Lifestyle: In this this typology where the entrepreneur is operates and owns better work
that standardised to enhance better living of standard of society and having addition the
demand that having customer to making clear to providing the better job opportunity.
 Growth Firm: This type of organisation typology which enhance small and large
business as well as provide the different product and service with more motivate to
customer where they feels about more comfort and easy to applies operation of business.
Evaluation:
In above venture is has been classified on the basis of size, scope and with this have to
mange the different working styles to generate profit maximise sales by contributing effective
sales and optimise profit (Esterhuyzen, 2019). There are different type of entrepreneurship a like
small business, large company, scalable start up through better innovative to effective
development. These are majorly based on better classified along with continuous by implement
constant basis success through development oriented as per allotted time period basis.
P2.The similarities and differences between entrepreneurial ventures.
There are variety of similarities and difference exists in between the entrepreneurial
venture which described as follows:
Basis Small business Micro Business Medium-sized
business
Scale This business are
regulated to approach
The business it
regulates on the basis
As per this business it
comprises about the
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limited amount of
revenue as per
enhancing profit.
of less capitalisation
which attaining
revenue on lower
range of scale.
better outcomes
generates which
enhance quite more
employees and their
aim to achieve better
outcomes.
Purpose The aim of work with
having aim to get
stable in market
through attaining
favourable outcomes.
The only purpose id to
making the business
stable and achieve day
to day targets
The only objective is
to making enhance
more revenue as
compared with small
and micro business
development.
Characteristics They have managed
the different operation
with the certain
interaction of the
government.
These business need
the funds and get
collect that by funding
and with the
government support to
make the positive
change in the society
These businesses have
worked at larger scale
and at global level thus
the government
intrusion is more
(Fotopoulos, and
Storey, 2019).
Similarities
Basis Small business Micro Business Medium-sized
Meeting the needs Their major need is to
operates the business
operation function to
accomplish less target
for long term stability.
They need to work on
their initial stage of
working states that
better enhance of
service which
internationally execute
in level of different
Medium size business
is having is mainly
operates that appoints
to higher manpower
who having better
skills which optimise
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level. better productivity.
Society up-upliftment They have provided
the employment
opportunity which
they hire in small
wages and it provide
benefit to society by
offering employment
as well as raises better
economic scale.
To only regulate their
internal development
infrastructure and
provide local helps or
support through their
product and services.
By enhancing better
work to better develop
which enhance better
livelihood for better
development and fulfil
customer people
through provides
needed services.
Task 2.
P3. Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy.
Introduction of Creativity and Innovation:
The important role of creativity and innovation which having to tend for disconnect
which authorised move into uncharted territories by having objective unique and unique solution.
It has therefore which having essential towards employees and members towards develop
creative skills. Trough innovative skills is having bringing entrepreneur towards the success
path . By generating business which is having entrepreneurial ideas through customer survey
which enhance to evaluating mass media, personal experience within talent, trade of free fair
exhibition (Fotopoulos, and Storey, 2019). According to analyse better and effective ideas
which classified on the basis of different business culture that allows to mapping the need and
further requirement accordingly.
 Small Business: This type of business firm to get over by extending 50 number of
maximum about many employees and having generate turnover with having more 5-7
million of revenue generates as annual basis. They easily manages to effectively the
business operation which is having earning more capital which likely to having better
grocery or other type of retailing product.
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 Micro Business: This business that covers about the local market where it supply as
well as the demand over their only to get work for better attaining within the number of
workforce that enhance to create street store, restaurant or cafe etc. The employees are
tend to affiliated by 10-15 employees of micro business UK and also having more
sufficiency to public responses.
Illustration 1: The Role of Start-ups and Small Businesses in Today’s Economy,
2018.
Source: The Role of Start-ups and Small Businesses in Today’s Economy, 2018
Interpretation:
In above graph which mainly enhance detail approach and more within compared
medium with large. In addition of small business where it describes through providing
informational statistic by staking 48% of public share generating on the basis of turnover that
exceeds up to 33% . While medium business si in saturated point of remark 0.0 where it still
generates employment or jobs in local and medium market that develop 14% turnover of overall
revenue that eflect.
Apart from it, this mainly executed on the basis of high potential small and start up business
where it allows quite positive benefits such as in above figure it shows that small business is
reaching more business outcomes as compare with large and medium. Large is not able to
attaining more business beacsue they are mainly regulates on the basis of more profit expenditure
or having 80% objective to attaining in effective manner. Medium range range of business are
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not able to reaching at their expected outcomes is beacsue they have less base of capitalisation.
The rate of employment rate and turnover rate can emphasis about 12%-14% where he executed
on the basis of day to day target accomplishment in systematic manner. So, the conclusion is
came up that small medium size business are more proficient can enhance valuable productivity
in terms of economic stability and employment generation.
Having impact of small business on UK economy.
 Impact at local level: The United Kingdom government which has provide through
which better support that better enhance small business undertakes towards positive
impact on business operation along with effective function with having more simplicity
(Galvão, Ferreira, and Marques, 2018). To fulfilling the commencing to improves better
standard of living to provide better employment.
 Impact regional level: As the major impact is on small and micro business towards
regional level within well company get to over attain better outcomes return in effective
manner. To enhance by promoting more valuable resources which facilitates to get their
employment through better skills and knowledge.
P4. Importance of small business and business start-up.
The importance of small business is generated more positively outcomes to create better
diversity for better organisation to provide more employment, exploring more opportunity within
approach optimum development and having systematic growth which better regulates that having
direct contribution economic stability as well as GDP towards nation. By highlight importance of
small business as well as start up towards social economy development:
 Employment creation: The Small Medium Enterprise has provided different market
opportunity enhance by employees who contribute their efforts towards directly
development in economic that has positive impact towards national growth as well as
development. As per company point of view employees are assets for them as they are
contributing their skills to generating more revenue.
 Innovation Enhancement: This is upgrading in today's business segment as Start up
and small business can form only through innovation factor where they approach better
form of gaining more profit and market that enhance to share as well as to get provide
and flexible innovation access.
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 Connect with more customer: This is a most precious and important factor that
promotes the product through different platform as the company interaction get to must
gaining more customer to generating more information related with larger scale of
service. As per United Kingdom tehre are many small and start up business in which
they constant basis to connect with many customer that tend to helps through customer
by gaining more success and development.
 Leading the means for better assortment: It is having more vital role where the
business to better promote the diverse nature which effectively worked on the basis of
people who are belonging through various places as well as caste or religion (Ismail,
Sawang, and Zolin, 2018). It has to make easier for the company while making suitable
interaction with the customer perspective through better interaction.
 Local enhancement: The Small medium enterprise with better improvise the local
development as well as fulfilling overall requirement and serve demand and supply
which bring more growth in economic basis through which more successful and
development.
As above analysation of small business and start up are backbone of company and valued
is having to increase standard of living in public. These business are plays an important role inb
economic in terms of increasing the buying and selling of product and services as per for
satisfaction as well. With the better public relation like product and service quickly nearest
where they provide in better product and service in market place.
Task 3.
P5. Characteristic, trait and skill of entrepreneurs that differentiate them from manager.
The entrepreneurial to differentiate themselves from the others in terms of skill and traits
with having characteristics that support to individual entrepreneurs where they get influence
themselves as well as to other in effective manner. The behaviour and attributes with having
major role as they perceived that enhance better accommodate about how goals and objective can
be accomplish in different manner (Jahanshahi, Nawaser, and Brem, 2018). As by taking two
entrepreneur are Elizabeth Gooch and Tom Mercer will enhance to design their skills and traits
towards their entrepreneurship.
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Elizabeth Gooch
Characteristics:
 Ability to network; As per this characteristics is defines about the competency of an
individual where he/she can attained better outcomes towards by approaching
effective contribution for accomplishing goals an increase better productivity. As per
perspective of Elizabeth Gooch, she is a type of work oriented and highly efficiently
manner that used to implement in their work to attaining in better way.
 Undertakes risk: Being as successful entrepreneur for them by distributing risk
attainment is most important in their preparation of task through attain of objective
which is supportive leads that hierarchy promotes through better accomplishment
(Welsh, and Kaciak, 2018). For example: Elizabeth Gooch is one of more risk taking
entrepreneur thats make her motivate in their different region of work as well as
implement its strategy where ability of risk which motivates further succession
planning.
Traits: Creativity: For aspiring a successful and inspiring entrepreneur it is must to having a
creative attribute that makes self motivates and helps to explore better optimise and
with different opportunity to setting up their task in unique way to approach targets in
effective manner.
Skills
 Power of critical thinking: According to this skills is defines about to measure analytical
skills assort to measure and evaluate the major finding having essential to developing
better skills. They able to better scrutinize problem in detail behaviour approach where
they better understand to resolve it effective manner. As per Elizabeth Gooch she is
having more innovative thinking which she has used to making it her business more
productive. Effective communication: This is one of major important skills that helps to require in
every business that entrepreneur is having better communication skills which they better
communicate in effective manner (Stirzaker, Galloway, and Potter, 2019). Similarly,
Elizabeth Gooch is one of good speaker where she get to interact and having habit to
sharing thoughts to can better effective communication.
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Tom Mercer.
Characteristics:
 Passion: It is derives about an entrepreneur where individual commence their business in
terms of having desirables outcomes that enhance better accomplish effective gaols and
objective (Pahnke, and Welter, 2019). By becoming more passion where Tom Mercer
enhance their focuses towards on work by contributing ample of solution that can derive
to need by contributing optimum solution for task objective.
Traits:
 Being a good leader: As an effective entrepreneur to manage business internal activities
and employees which are high responsible for better start up as well (Nyadu-Addo, R.
and Mensah, 2018). As this same traits is involve in Tom Mercer where he is used to
get lean and provide better guidance his employees, manage the conflicts to effective
manner by handling it.
Skills:
 Management skills: Through becoming successful entrepreneurs is most of time they
majorly depend upon to skill manage through developing brand or business along with
management skills to enhance effective ability to handling by Tom Mercer to multi task
through better decision making as well as high profitability.
Comparison
Basis Entrepreneur Business manager
Focus An entrepreneur are one who
having target that manages the
business through maintaining
towards long terms for long
term sustainability by
generating better effective in
local marketplace.
The manager are having only
focuses on measuring
employees to seeking out how
performance to better worker
that enhance for better
opportunity by positive
gaining as well.
Size The role of entrepreneur in
smaller size of company as
Business manager is
approaching the size that
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well as compassion towards
attaining goals and objective in
effective manner .
highly depends upon the
business in which individual
manager get to attain more
outcomes in business.
Structure Entrepreneur has worked as
per accordingly with their own
boss by there would be not
sharing of profit and loss only
single business person is
reliable towards better time
period .
As per the business owner that
having control to manager
where it having structure and
that must being follow through
manager.
P6. Evaluate aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset.
As the personality is play an important role where individual entrepreneur are plays an
important role to reflect about a person behaviour and attitudes which they carriers for which it
helps to provide them a successful and self motivating towards achieving aims and objectives
(Jahanshahi, Nawaser, and Brem, 2018). Similarly, in given below there is evaluation and
scrutinize about five different personality that involve into individual personality that makes the
influence towards for attaining better goals and objective and most probably enhance motivation.
Personality Ocean traits
 Openness: As per this trait of personality that enhance characteristics through better
imagination and having insight as well as individual personality enhance better open or
presence of mind in active form that allows to adopt many innovative aspects that related
toward better range. For example, Tom Mercer is paving open mind type of personality
where he used to approach creative idea through new experiences.
 Conscientiousness: By evaluating standard through high dimension where it carriers
high level of thought fullness as well as mindful towards goal oriented behaviour. As
these type of personality provide more positive thoughts and view which high influence
and motivate to other.
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 Extraversion: It is depicts about an individual who is having interest to communicate
with each other as well as they contains high amount of emotion expressiveness. As
Elizabeth Gooch, she was extrovert kind of entrepreneur personality which allows her to
share her thoughts and view point about business social extrovert situation.
 Agreeableness: This trait of personality involves different attributes that involves high
trust creditability, kindness, attribution and affection about individual personality to
evaluate more trait manipulate.
TASK 4
P7 .Examine how background and experience can foster and hinder entrepreneurship.
There are two background of business entrepreneur which is highly consider to discuss
about their two factor by measuring the background and experience:
Domestic Entrepreneurship:
Elizabeth Gooch.
Background: She was belongs from non business family business background where her
parents were in legal perspective of work as they were lawyers. After he parents got separated
she had to be with their grandparents where she completed her graduation from United States of
university.
Experiences: After completion of her schooling and other graduation is majorly focuses
on writing books and Gooch is having little interest in writing novels and books. After certain
years she had decided to wrote her own books in basis of princes and military along with they
mainly highlight about within their event management. By the time get invested Gooch first
books was launched at the year of 1789 but get to imprisoned 1792.
Richard Branson:
Background: As he was born on 18 July, 1950 as English business magnate where it
1970s he is majorly founded for Virgin group. But his family background was not in belong any
business activities. Branson was completed his education at Scatiffie school which is situated in
London. After that he attended Stowe school for further completed education in better way/ he
was faces through poor academic performances where it analysis towards not having interest in
his educational base.
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Experience: Branson need to struggle in his professional career within more that he
could specify what sector of career can build more sustainability. He keen to interest towards
more business oriented which he has scrutinize about how a corporate business can executed.
After he had started his own product shop which he established and regulates in Oxford Streets
in London as where it brought his career at down line. After that Branson holds and creates his
own vision company name as Virgin group during 1972-1980.
CONCLUSION
In above report of Entrepreneur and small business management is described about the
entrepreneurship for it major impact to improve on different product and service perspective with
having satisfy the need of customer that raises standard of living about society that makes some
of certain changes with more protection. In this entrepreneurship business that having more
perfection. In this entrepreneur business that have provided employment as per large number of
customer that support where it having different traits of entrepreneurs to better regulate for
Development and increase the economic of specific country. In addition there are different kind
of motivation in term of background and experiences which boosts individual candidate that
implies on through process of hinder and foster mindset of entrepreneurs.
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REFERENCES
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Esterhuyzen, E. 2019. Small business barriers to occupational health and safety compliance. The
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