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(solved) Entrepreneurship Report

   

Added on  2020-06-04

11 Pages4374 Words122 Views
ENTREPRENEURSHIP

INTRODUCTION.....................................................................................................................................3P1 Different types of entrepreneurial ventures and relations with topology....................................3P2 Exploring difference and similarity between different types of entrepreneurial ventures.............4P3 Interpretation and analysing of relevant data to analyse the impact on small business in the economy............................................................................................................................................5P4 contribution of small business and start up business operations in economy..............................6P5 Skills and traits of a successful entrepreneurs..............................................................................7P6 Aspects of entrepreneurial personality........................................................................................8P7 Ways in which experience and background can hinder or foster relationship...............................8CONCLUSION.....................................................................................................................................9REFERENCES........................................................................................................................................10

INTRODUCTIONEntrepreneurship is defined as the start-up of new venture at the market place by developing anew and innovative ideas in order to start a new business thus earning high profitability and revenues from their overall business operations. This is one of the most important & vital factor of the current business environment. Entrepreneur is one who is executing different activities at market place in order to earn profits. The positive factor of entrepreneurs is that it helps in promoting innovative ideas by which they can easily expand their overall business operations. While on the other side some business entrepreneurs are working for the overall benefits of the society and not with the motive of earning financial gains (Ács, Szerb and Autio, 2011). As there is high competition in economy so every individual is focusing on earning high profits by running their own business with unique ideas. The under mentioned report contains study about different types of entrepreneurial ventures, similar and different between entrepreneurial ventures, impact of small business on economy and the contribution of small and start up business on social economy. P1 Different types of entrepreneurial ventures and relations with topologyThe process of establishing a business operation are executed in different ways but the aimsand objectives of launching business is not different as their main factor is linked with establishingfinancial stability in the economy. The business which is started by a person with his own new andinnovative ideas are classified on the following grounds which are evaluated below as:Small business entrepreneurs: These small business operations are similar to those businesswhich are executed by self employed. The main objective of starting this business operation isrelated with establishing financial gains in the economy. The major example of persons who arerunning small business are carpenter, grocery, plumber etc. All the family member are helping thebusiness owner in order to earn money so they can fulfil basic needs of their family.The small business operations are linked with survival ventures of topology ofentrepreneurs. The efforts are made so that his family members can be survived and their needs anddemands can be fulfilled in this competitive market place. These business operations are notregistered anywhere and they are running independently by maintaining trust and faith between theparties. While talking about the business ventures cash is the most important faith.Scalable start up entrepreneurs: These types of business are having opportunities so they can easily expand their overall business operations. The persons who are running their activities under scalable start up are having the vision that they can easily change the perception of public according to which they analyse different things (Andersson, 2011) .In this venture the financial resources are provided by venture capitalist in order to carry out their business operations at different models. On the other hand these ventures are small in size but the risk factor among themis very high.The topology which is related with these types of ventures are aggressive growth. Thesescalable strat up business develop new and innovative ideas in order to achieve competition at themarket place. These ventures are beneficial for a person as they can easily perform their operationsat market places.

Large company entrepreneurship: The another name of this type of venture is corporateentrepreneurship. The most difficult factor is to maintain stability at market places as the firms whoare operating at large level are using innovation and research in order to fight with competition atmarket places from other rivalries. This is beneficial for them in order to earn high profitability andgrowth. This is the most advantage factor for business as they are able to establish strong positionsat market place.The topology which is linked with these ventures are related with the corporateenvironment is known as growth ventures. The firms aim to sustain strong positions at market placethus earning high profit and revenues.Social entrepreneurship: The main aim of these business is linked with providing those products and services to the customers which are beneficial for the overall society in different ways. Entrepreneurs are developing new and innovative ideas by which the problem can be easily resolvedby applying effective measures. There was an invention in the recent era which have helped customers to easily communicate with the doctors while sitting at home if they are facing any type of problem (Bhachu, 2017).In social entrepreneurs topology the main aim of business owner is to manufacture goods which is beneficial for the society and they objective is to earn high profitability shares. If the financial gains are not available in sufficient amount them it may result in down in overall business operations.P2 Exploring difference and similarity between different types of entrepreneurial ventures The under mentioned table evaluates the difference and similarities which are related withdifferent types of entrepreneurship ventures are described below as:BasisSimilaritiesDifferenceObjectivesAll the business ventures are having their own aims and business objectives. The individual ventures are based on financial factors which will support their family to fulfil their basic needs. The corporate entrepreneurship objective is related with ensuring stability at market areas (Bozeman, Fay and Slade, 2013).Social entrepreneurs are linkedwith making the society abetter place where people caneasily live their life. Thefinancial factors are importantfor these business andsometimes this may not be animportant factor according tobusiness situation.Value creationAnother vital factor is relatedwith the operations of businessas they are developed in orderto carry out some value forperforming business activities.The ventures can be social orcorporate but their aims is tocreate something which is ofvalue and importance.The objectives are alwaysdifferentsome operations arecarried out in order to earnhigh financial and someoperations are based oncreating value for the overallaspects of society.

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