Report on Different Types of Entrepreneurial Ventures with their Typologies

Added on - 06 Jun 2020

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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1P1 Assorted kind of entrepreneurship undertaking and their categorization...................................1P2 The sameness and quality betwixt businessperson undertaking.................................................2Differences between male and female entrepreneur........................................................................4P3 Micro and small businesses impact on the economy..................................................................4P4 Small businesses and business start ups importance and contribution to the growth of socialeconomy...........................................................................................................................................6P5 Characteristics and traits required for successful entrepreneur..................................................7P6 Aspects for entrepreneurial motivation and mind set.................................................................9P7 how prospect and mental object can hinder or surrogate entrepreneurship..............................10REFERENCES..............................................................................................................................12
INTRODUCTIONEntrepreneurship is a key approach to gain profit and manage activities in a business. Inthis introduction, the various types of business ventures such as small, medium and micro arewell explained and their typologies also attached with them. Through research and investigationthe similarities and differences are also included with male and female entrepreneur description.The impact of micro and small businesses upon economy is also included with support ofstatistics and data. The importance of small businesses and their contribution to grow theeconomy rate is also very well explained. The mini research determined the characteristics andtraits of a successful entrepreneur and how aspects of an entrepreneurial personality reflectmotivation and mind set is also accomplished.TASK 1P1 Assorted kind of entrepreneurship undertaking and their categorizationEntrepreneurship is a way which referred to take action for creating new ideas andopportunities. It helps an entrepreneur to make a place in the market with his decisions. Anentrepreneur faces many efforts and assorted uncertainties while establishing a new businessconcern. The businessperson are highly focused towards their objectives and understand theopportunities which assistance them to take right decisions and steps. The different types ofentrepreneur ventures are as follows:Small-business venturesStarting a small business is not an easy work for an entrepreneur to take decisionsindividually, although he needs support to carry out all activities of the business. Generally, thiskind of business or ventures take support from their family members to manage day to dayoperations (Kuckertz, and Mandl, 2014). Small business typologies are serial which createbusiness and sell it.It is also managed by female entrepreneur.Scalable start-up venturesIn this kind of businesses, entrepreneurs are motivated in respect to start a venture andthey unbroken theimagination for ever-changing the global. Entrepreneur selects the highlyskilled employees,which can assistance them to accomplish the vision of business and carry theconcern operations.Scalable start-up businesses are also managedby female entrepreneurs andserial entrepreneurs.Large ventures1
Bigbusiness concern beginningwith a huge amount of capital and funds and for that,entrepreneur makes effective and appropriate plan for managing the business activities. The largeventures make strategies regarding making a new product or plan which help them to gain profitand productivity to satisfy the need of customers.Social venturesSocial ventures work for the society. This kind of business do not work for earningprofits, they offer services and products for society and mainly focused on developing theproducts which can fulfil the needs of customers(Kuratko, Hornsby, and Hayton, 2015).Determined entrepreneurDetermined entrepreneurs are largely the pacesetter instead of path followers and they arealso not curious to transcript the merchandise and work of any other business to indefinitequantity their own gross sales and net income. They are determined for their individual effortsand believe themselves in what they are doing.These all business ventures are related to the typology of entrepreneurship (serialentrepreneur, social entrepreneur and female entrepreneur). The main objective of small businessventures is to earn profit as much as they can and expand their business for taking advantages offuture opportunities. On the other side, large business ventures are mainly focused on gainingprofitability and productivity effectively. The social businesses work for society as they do notwant any profits from the people and can be managed by female entrepreneur.P2The sameness and quality betwixt businessperson undertaking.There are antithetical type of businessperson and they help to grow and develop theeconomic system.They have some differences and similarities regarding developing theirbusinesses and earn net income. The main similarities in all kind of business organization is thatthey are focused on developing and improving their services and products which is delivered totheir customers. The difference between them is that they all work or operate business fordifferent reasons. However, the investment made by the business in small industry is low ascompared to large businesses. The social ventures work for providing social services to theircustom-made with no profit policy and for the improvement of the club. Apart from this, someother difference between business and social ventures is that they are created on the basis ofportion people.Moreover, other business undertaking aims at up numerical quantity on the basis2
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