Entrepreneurial Ventures and Typologies of Entrepreneurship : Report
Added on -2020-07-22
| 14 pages| 4403 words| 42 views
Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 14 pages
ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P 1- Analysing different entrepreneurial ventures and their relation with the typology of theentrepreneurship..........................................................................................................................1P 2- Analysing and learning the similarities and differences which the entrepreneurial venturecarries..........................................................................................................................................3TASK 2............................................................................................................................................4P 3- Impacts of small and micro companies on the economy of the country.............................4P 4- Importance of small businesses and business start ups in growth of social economy afterBrexit. .........................................................................................................................................5TASK 3............................................................................................................................................6P 5- Traits, characteristics and skills of successful entrepreneurs which make them differentfrom other managers...................................................................................................................6P 6- Entrepreneurial personality reflecting motivation and mindset..........................................7TASK 4............................................................................................................................................8P 7- Background and experience in hindering and fostering entrepreneurship..........................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONEntrepreneurship is the term which states about bringing innovation in the company.Entrepreneurs are the person with spirit of doing something new. They want to create andinnovate something which will make them grow in the market. Economy of the UK is very muchbenefited by these entrepreneurship firms. This report includes about the various entrepreneurialventures which are related with typologies of the entrepreneurship. These ventures are differentfrom each other but have some similarities too. There are many factors on whose basis thesesimilarities and differences are evaluated. These micro and small enterprises have many impactson the economy of the country (Drucker, 2014). They are also responsible for the growth ofeconomy after the Brexit. Entrepreneurs who are successful have many characteristics, traits orskills which make them different from the other managers in the organization which is reputed.Motivation and mindset are reflected by the entrepreneurial personality. Background andexperience are the two factors of the entrepreneurship which can hinder or foster it.TASK 1P 1- Analysing different entrepreneurial ventures and their relation with the typology of theentrepreneurship.Entrepreneurship is the activity bringing innovation and creativity in the working style. Inthe simple words it is the activity of the person who is launching something new. Entrepreneursare the person who starts the business by using their own creativity which makes them differentfrom other managers who works in the organization as the employees. They are not the ownersbut entrepreneurs are owner of their business. It makes the entrepreneur to achieve all theobjectives and goals which are set, targeted or desired. Many types of entrepreneurial venturesare included which shows the different aspects of entrepreneurship. Those ventures are asfollows:Social ventures- These entrepreneurial ventures are based on the basis of the activitieswhich are done for solving social problems which arises in the country. They work in thedirection of making the world a better place (Kirzner, 2015). These are not profitable theyonly want the welfare of public. Their main aim is to create safe and secure environment inthe country. Entrepreneurs of this venture are very talented and social workers. They carevery much for the betterment of the society. These social ventures have support of many
people because of the cause of their start up. The person who starts this business is known asthe social entrepreneur.Small ventures- These are the ventures who only started by the entrepreneurs to fulfil thebasic need of theirs and family. Very small amount of capital is required in this sectorbecause they are started at the very law level. They grow on the basis of innovation which isbrought in it. The entrepreneurs who bring or start this type of business are known as thesmall entrepreneurs. This venture is mainly started by the female entrepreneur. They try tobring many innovations by using their creativity. The newness which is brought by theseventures is the only thing which makes them grow further in the market. Number ofemployees is also very small in this sector (Kuratko, 2016). Entrepreneurs mainly handletheir business with the help their family or friends. For being very small in the structure thisdoes not need many workers. This can be only handled by the creativity of the single owner.Large ventures- Unlike the small ventures these need large amount of the capital to beinvested. Entrepreneurs who are handling the large scale ventures needs to bring manyinnovations which will be helpful in increasing their market share. They use their revenueagain in the organization to bring something new which will be liked by their customers andwill make them grow more in the market. The entrepreneurs who are the owner of theseventures hire very high number of employees. Because of being wide they need manyskilled workers to handle the business in better way. Their main aim is to achieve all the setand targeted objectives of the business. High amount of salary is given to the employees ofthe large ventures (Hvide and Panos, 2014). Their main aim is to earn as many profits whichcan be used in the working of the departments in the firm. Entrepreneur who owner of theseventures are mainly serial. They start the business and after give this in the hand of others tobe handled and focus on more important activities. They hire the best person who will beable to handle the business in effective and efficient way.Scalable start up ventures- These ventures are only working in the direction of makingprofits. Their main aim is to be on the top and lead in the market. They want to increase theirmarket share by using creativity and bringing innovations. The entrepreneurs who start theseventures have only one motive to grow in the market and gain many competitive advantagesamong their competitors (Schaper and et.al., 2015). These types of sectors bring the highestamount of innovation in their working style. Entrepreneurs of these ventures have very high
Found this document preview useful?
You are reading a preview
Upload your documents to download
or
Become a Desklib member to get accesss
Paid Plans
Free Plan
Single Unlock
Monthly Plan
Yearly Plan