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P1:Different types of entrepreneurial ventures and their relations

Added on - 08 Dec 2020

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Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................1P1:Different types of entrepreneurial ventures and their relations to the typology ofentrepreneurship...........................................................................................................................1P2 similarities and differences between entrepreneurial ventures...............................................3P3 data and statistics to illustrate how micro and small business impact on the economy.........4P4 The importance of small Businesses and business start ups to the growth of the socialeconomy in UK............................................................................................................................5P5: Characteristic traits and skills of entrepreneurs....................................................................6P6 entrepreneurial motivation and mindset.................................................................................7P7 Background and experience can hinder or foster entrepreneurship........................................9REFERENCES..............................................................................................................................10
INTRODUCTIONAn entrepreneur takes risk for bigger opportunities and is a makes the decision that inhow much services and goods will be provided and in what way. It operates small business orlarge business which depends on its capital. An entrepreneur can be described as a responsibleperson who starts or begins a project with huge amount of capital. It has a zeal and passion totake its company to the paramount level. Its high level of energy becomes the challenging powerfor other similar companies in the market. There are many types of entrepreneur like sceptical,copycat, researcher and accomplished. Sceptical Entrepreneurs don’t waste time and get inspiredby others and immediately initiates their ideas. Copycat entrepreneur always copy the which kindof work other entrepreneur are doing tries to do a relevant type work like them. ResearchEntrepreneurs renovates the ideas and have their own values and vision.P1:Different types of entrepreneurial ventures and their relations to the typology ofentrepreneurshipSmall Business Entrepreneurship:In so many countries 95% business consist small andmedium enterprises.All companies make 99.7% and those who are non governmental employeeare 50%.In theU.S. 5.7 millionsmall businesses are there.Small businesses are generallyworked for considered asmarket, styler, advisor, travel agents, internet commerce storefronts,woodsman, plumbers, electricians,etc (Herrington, and et. al., 2010)). So its easy to do our own business. In this we can hire our friends, family members. It isvery most profitable. Motive is that over all to give the family and make a huge profit,laterwe make our industry in million profits not to take an industry to over $100 millionbusiness.Scalable Startup Entrepreneurship: Nothing scales better than an online business. Now a daysgenerally people are more convenient buy everything by online implementation. However,choosing the right scalable model will have a huge impact on your success. Anyone canstart an online business and sell digital products through a website and an email list. Boththe website and email list can have an user which is built up with various 'streams' of traffic.These streams of traffic can be form various sources such as Google, Facebook, twitter,YouTube etc. They hire the best and the brightest.Large Company Entrepreneurship: Large companies have more innovative ideas to fulfillcustomer choices and demands over them.According to customer we have to make, create1
new technology, etc. To sold a new products in different types of markets should be requireda large companies.Social Entrepreneurship: Now a days our all the problem solved on social media its very easyto us.The beginning of any goals or new achievement firstly to make the world a betterplace, for the wealth of the company founders should not take any market share.They maybe nonprofit organization, for-earnings, or hybrid.Entrepreneurship:It is also called business. In this a business man have different types ofideas, to make or a create easy kinds of ideas to solve customer problem or to make a businesswell in condition. for an example- Amazon, olx etc. Entrepreneur is such a type of person whomake others life easier to live and make so many people rich in their companies (Jones, andRowley, (2011).Lifestyle entrepreneur:If the entrepreneur is in a lifestyle way is very helpful for the companyto create a innovative ideas to put our interests and passions. Knows the ideas of othersfreedom lifestyle their opportunities, whatever the things are done all are satisfied or notand especially company for the company you should become a good lifestyle entrepreneur.Research Entrepreneur:The two types of information are exploratory & specific, when thecompany is conducted a primary research. Open ended research is called exploratory.Itshelp inspecific problem, refer to ellaborate normally, unorganised interviews in which long answers aresolicited from a small group of answering(Kirzner, 2015).M1Entrepreneurial ventures are of three kinds :Entrepreneurial:An entrepreneur has its own vision and initiates its business with the limited resources andspends time in taking high level of risks by providing appropriate service and high quality ofproduct.Intrapreneurship:They are action-oriented, very much active and possess bigger organization. They can recovertheir loss as they are profit based firms and works under comfort zone. They can initiate at thedomestic level and can easily for-see the competitors.2
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