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Entrepreneurship Assignment Solution - Doc

   

Added on  2020-10-05

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ENTREPRENEURSHIP

Table of ContentsINTRODUCTION...........................................................................................................................1P1 Types of entrepreneurial ventures and their relation with different types of typologies.......1P2 Similarities and Differences between entrepreneurial ventures.............................................2TASK 2............................................................................................................................................3P3 Impact of micro and small businesses on economy...............................................................3P4 Small business and start-ups contribution to growth of social economy after 'Brexit'..........5TASK 3............................................................................................................................................6P5 Characteristics and Traits of successful entrepreneurs..........................................................6P6 Assess entrepreneurial personality reflection on their motivation and mindset ...................7P7 Background and experience can hinder or foster growth......................................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONEntrepreneurship is the study about of how new business is created and actual process ofdoing business, as well. Basically, this can be defined as the ability to take risks. Person whoundertakes this whole process is known as entrepreneur. This whole report basically focuses onwhat entrepreneurship is, why and in what ways it is important for economic growth anddevelopment(Agwu and Emeti, 2014). Main purpose of this research is to find out problemsoccurring in way of entrepreneurship and what are development criteria for this with the help ofsome statistical data.To make study easy and attractive, different types of entrepreneurial ventures and theirrelations between them has described in the given report. This is a mini research conducted tofind out what are contributions of different types of entrepreneurs are in an economy. P1 Types of entrepreneurial ventures and their relation with different types of typologiesAn entrepreneur is a person who undertakes whole process of starting new venture of their ownin order to gain sole profits, by assuming that whatever risks and rewards are there should bebear or enjoyed by themselves. Actually, they are individuals who identify customer's needs anddemands and seek for opportunities to satisfy them.Entrepreneurship: Entrepreneurship is basically a process of designing, launching andstarting new business in order to become self-independent(Bae And et. al., 2014). Entrepreneursby undertaking this process acts as managers for their small businesses and ensure the launch andgrowth of start-ups. Entrepreneurial Ventures: These can be defined as business undertakings whereentrepreneur always seeks for innovations and growth in order to satisfy customer's needs andwants. So that ventures can foster and grow at rapid pace. Types of entrepreneurial ventures: Following are different types of entrepreneurial ventures:Large Company Entrepreneurship: People who are engaged in sustaining innovation byoffering new products are known as large entrepreneurs. In this type of entrepreneurship, there isneed for innovation and creativity because of changes in technologies, tastes & preferences ofcustomers. 1

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