Assignment on Entrepreneurship (docs)
Added on 2021-06-17
19 Pages4200 Words25 Views
|
|
|
Running head: ENTREPRENURSHIPENTREPRENURSHIPName of the StudentName of the UniversityAuthor Note
ENTREPRENURSHIP1Table of ContentsTask 1...............................................................................................................................................2P1.....................................................................................................................................................2P2.....................................................................................................................................................3M1....................................................................................................................................................5D1....................................................................................................................................................6Task 3...............................................................................................................................................7P5.....................................................................................................................................................7P6.....................................................................................................................................................9M3..................................................................................................................................................11D3..................................................................................................................................................12Task 4.............................................................................................................................................12P7...................................................................................................................................................12M4..............................................................................................................................................14D4..................................................................................................................................................14
ENTREPRENURSHIP2Task 1P1Examine different types of entrepreneurial ventures and explain how they relate to the typologyof entrepreneurship ventures, including examples of each type.Entrepreneurial An entrepreneur can be defined as an individual who begins a business however theresources at his disposal are very limited. The entrepreneur takes account of the various risks andthe different rewards which are associated with the business venture. A business is a risky affairand for this reason, it is important for the entrepreneur to take risks in order to achieve success.The business plan which the entrepreneur makes is concerned with a new brand innovation,service or a product or an alternate from the existing business model in which the businessfunctions. The entrepreneurial ventures which are taken under this category are generally highreturns, with a high level of uncertainty involved (Decker et al. 2015). Furthermore, theentrepreneur needs to take other risks like career risks, money security risks and others in orderto fulfil his aspirations. IntrapreneurshipIntrapreneurship can be defined as an entrepreneur who works within the realms of theorganization. These individuals are highly motivated, action oriented and proactive individuals
ENTREPRENURSHIP3who take various decisions of their own but do not go beyond the boundary of a firm in order toproduce innovative services and products. The critical aspect of this is that the intrapreneurfunctions within his comfort zone because he does not associate the organization failure with hispersonal one. He tends to believe that if the organization fails, he will have nothing to lose.The entrepreneur does not function in general but tends to focus on specific issues in thegiven area. The areas which he concentrates on may be deficient in skills or related to theproductivity of the firm (Dees 2017). Briefly stated, an intrapreneur tends to have the ability todrive innovative ideas in the given realm of the organization.The primary characteristics is that the intrapreneurs prefer freedom in their functions andlike to have independency within their base. They work efficiently towards development ofworkflow charts and they can visualise the competition existing in the company and tries toremove them.ManagerialThis kind of person in an organization showcases his entrepreneurial skills by managing thedifferent people who exist in an organization. They like to manage the different people who arepresent in the firm and thus this is popularly known as managerial work force. These employeesare paid and tend to have authority of making any changes within the realm of the firm. Theseentrepreneurs are to manage the daily responsibilities at work. They are concerned with makingthe daily processes and tend to make them more efficient.
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents