Types of Entrepreneurial Ventures and their Relation to Typology of Entrepreneurship

This report discusses the different types of entrepreneurial ventures and their relation to the typology of entrepreneurship. It also explores the similarities and differences between entrepreneurial ventures and the impact of macro and small businesses on the economy. Additionally, it examines the characteristics, traits, and skills of successful entrepreneurs.

ENTREPREUNERSHIP

Table of Contents
INTRODUCTION.....................................................................................................................................3
TASK 1.......................................................................................................................................................3
P1 Types of entrepreneurial ventures and relate with typology of entrepreneurship................................3
P2 Similarities and difference between entrepreneur venture..................................................................4
TASK 2.......................................................................................................................................................6
P3 How macro and small business can impact on the economy..............................................................6
P4 Importance of small business to growth after Brexit..........................................................................8
TASK 3.......................................................................................................................................................9
P5 Characteristics and, traits and skills for two successful entrepreneur.................................................9
P6 How entrepreneurial personality can reflect to motivation and mindset...........................................10
TASK 4.....................................................................................................................................................11
P7 How background and experience can hinder and foster to entrepreneurship....................................11
CONCLUSION........................................................................................................................................12
REFERENCES........................................................................................................................................14

INTRODUCTION
Entrepreneurship is very wide concept that determines high aptitude with changes,
characteristics and many more things. This creates creativity in the organization for development
and high profits (Failla, Melillo and Reichstein, 2017). Entrepreneur is the person who organize,
manage and control all things through enterprise can get revenue and positive results. It will
make profitability through assess elements and forces of market. As results, the company can
make strategy to enhance operations and functions in different areas. In respect to this, present
report covers different types of entrepreneurial venture and relate with typology of
entrepreneurship. Furthermore, it also includes similarities and difference between
entrepreneurial ventures. Moreover, it involves importance of small business to contribute
growth of economy. In addition to this, it assess entrepreneurial personality which reflect to
motivation of business environment. Apart from this, it determine example that how background
and experience can hinder and foster to entrepreneurship.
TASK 1
P1 Types of entrepreneurial ventures and relate with typology of entrepreneurship
There are different author gives effective definition for defining entrepreneurial concept.
One author says that entrepreneurship is emphasize on innovation which create new product,
method and market in which the company can perform functions and operations (Ahlstrom and
Ding, 2014). It creates positive results, for generate more demand through combine various
factors through wealth can be create. Wealth is creating with positive results through values can
be exceed regarding business products and services. Innovative manner attract customer
regarding organization activity and actions. Following are different entrepreneurial ventures take
place within the business environment in term of typology of entrepreneurship:
Entrepreneurship vs. small business
This term is used by various entrepreneur in which their organization signify difference
among entrepreneurial venture and small business. It can be determine in following ways:
Amount of wealth creation: In order to generate simple meaning, entrepreneurship develop
modern outcomes of small business. This is because, successful entrepreneur create values

through operating different activities. It assist to save more money at workplace through
demonstrate positive results (Cullen, Johnson and Parboteeah, 2014).
Speed of wealth creation: With the help of entrepreneurship, the organization can create high
wealth through performing activities and actions that support to entrepreneurship of the firm.
Within few years, the company can make and generate high revenue from entrepreneurship
results and activities. It will assist to make positive working environment to operate various
functions (Shinnar, Hsu and Powell, 2014).
Risk: In entrepreneurship, risk is very high so that opportunity is very low to enhance outcomes
and operations. In this aspect, idea are given at workplace which determine for maintain
profitability and effective working environment. With the help of pursuing ideas, entrepreneur
can evaluates their performances for protect business environment.
Innovation: Entrepreneurship always perceive innovation in products, method and strategy
through business can achieve their targets and goals. In this aspect, company need to focus on
strategy which make sustainability of creativity at workplace of the enterprise. It creates wealth
and competitive advantages through creating new products and services in different areas of the
world (Wyrwich, Stuetzer and Sternberg, 2016).
P2 Similarities and difference between entrepreneur venture
In order to perform different functions, various types of entrepreneur participate to
achieve goals and objectives. In this aspect, following are such entrepreneur venture are exist in
market:
Skeptical entrepreneur
Copycat entrepreneur
Research entrepreneur
Determined entrepreneur
Accomplish entrepreneur
All these type of entrepreneur perform functions to enhance profits and growth of the
company. They all are analysis market to determine objectives so that company can easily

ascertain their results through different activities and actions. In this way, skeptical entrepreneur
success can be made that aids in to take decisions and match all outcomes with business goals
(Cullen, Johnson and Parboteeah, 2014).
Further, copycat entrepreneur are tries to copy other entrepreneur strategy through they
can perform various functions and operations. It will make success through copying other
entrepreneur style through continuous watching them and perform as well. This is quite different
from skeptical style which assist to determine profitability and positive results.
Research entrepreneur are those who love learn through they can assist to targets and positive
results. In this aspect, the firm is matching their activity and performances with different people.
Hence, they can take advantages to determine positive results and performances at workplace.
With the help of conducting research program, the business can implement their services and
outcomes which make success of company. Hence, they can easily get new results with
information (Gherardi and Giampietro, 2014).
Determined entrepreneur make their operations through copying and start business through
growing. In this aspect, goals and objectives can be ascertain to make positive and effective
results. For this type of entrepreneur, it is very difficult to operate functions and operations so
that growing business is very hard at workplace. They are focusing on various people who are
perform functions according to people interest so that objectives and goals can be taken to
develop activities and actions (Rivera-Santos, Holt Littlewood and Kolk, 2015).
Accomplish entrepreneur perform their functions through build business in some stages. Thus,
they can easily reach towards success and positive outcomes. In this aspect, they can easily solve
issues that are taken place to achieve objectives and positive results. They are not make any
strategy but frame outcomes from freedom and experiences. Success is very different for all
types of people. Thus, it make profits and effective results which can be perform as company
choice and strategy (Ahlstrom and Ding, 2014).
Similarities
With the help of all entrepreneur, every business can easily achieve their success and effective
results. Thus, all helps to achieve positive results and outcomes through ascertain activities and
actions. Hence, all plays very important functions through organization can easily develops

positive results and outcomes. All create new things from different activities such as innovations
and operations (Ahlstrom and Ding, 2014). It make creativity and attain effective results.
Furthermore, it also develops environment which make and deliver creativity at workplace.
Differences
There are various different in all types of entrepreneurship style. This is because, all functions
and operations are create according to entrepreneur interest and feasibility. Thus, it will make
positive and effective working environment that ascertain to achieve common results. Therefore,
copycat entrepreneur never use new strategy, they are always determine things which done by
others. As results, profitability never take place at workplace according to business (Lima, Lopes
and Silva, 2015). It is beneficial to every individual to make strategy according to business
feasibility.
TASK 2
P3 How macro and small business can impact on the economy
It is very important to assess business environment in effective manner. Thus,
entrepreneur can achieve their common goals and objectives at workplace. In this aspect, in
following terms macro and small business can impact on economy:
In micro business there is no sharing of profit. Thus, only one men assist to develop business in
effective manner. It also increase self-confidence which make high revenue and profitability on
the ground of entrepreneur. It also determines to ascertain goals and objectives in successful
manner through customer are satisfy easily (Kuratko, Morris and Schindehutte, 2015). In this
context, following factors are includes that generate impact on the performances:
Rising capital: With the help of rising capital, the entrepreneurship can ascertain high revenue
and profits at workplace that determines to enhance operations and functions. In this aspect,
every business need to concentrate on activities which assist to cover operations and outcomes.
There are various entrepreneurial activities which includes outcomes for example depend on raw
material (Cullen, Johnson and Parboteeah, 2014).

Determination of objectives and goals: In order to achieve goals and objectives there are various
resources which make high revenue and profitability. It will assist to make ascertain targets that
are clearly and realistic at workplace of the enterprise.
Recruitment and selection procedure with qualified people: When the company recruit and select
qualified member, it create positive impact on the business operations. This is because, it will
make sustainability of member through providing them effective benefits and payment (Bosma
and Sternberg, 2014). Further, good working environment also encourages to the employee
through they are able to give full support and positive working environment.
All these elements are very helpful to economy in the following manner:
Provide employment to various people: With the help of entrepreneurship program, the company
has opportunity to deliver effective performances and achieve employment opportunity at
workplace of country. Thus, it is beneficial to create high revenue and effective working
environment that assist to develop market. In addition to this, when various people are getting
employment their living of standard is increases that make high profit and revenue within the
business environment (Guroff and Carstensen, 2014). It is beneficial for development of the
nation and operations.
Contributing participation for research and development system: With the help of contribution in
economy development, entrepreneurship is determine contributing monetary fund and many
other things. In this aspect, employee gets various benefits through organization development
also take place. Hence, economy development is easily achieve at workplace of the ground
(Kuratko, Morris and Schindehutte, 2015).
Create wealth for nation and every individual as well: It is very important to create wealth and
sustainability of employee. This is because, it not only concentrate on company wealth but also
maintain individual who are giving their participation and effective contribution to attain goals
and objectives (Siegel and Wright, 2015).
Provide opportunity to face challenges in economy: Economy has opportunity to face challenges
with the help of entrepreneur. Thus, effective working environment maintain at workplace of the
business environment (Hulgård and Andersen, 2016). In addition to this, it is working for

enhance working environment and profits at workplace of business in which performances need
to be maintain.
P4 Importance of small business to growth after Brexit
After Brexit, there are various system which develop for ascertain positive results within
the business environment. In this context, small business has following importance to deliver
effective performances and outcomes at workplace of the company:
Small fund to operate functions and operations: In order to perform functions, small business
requires very less amount to operate and maintain effective operations. In this aspect, the
business has opportunity to deliver performances in effective way through enterprise can achieve
their targets and goals. It is very essential to evaluates small amount of fund which make high
profits and revenue at workplace of the nation (Cullen, Johnson and Parboteeah, 2014).
Provide employment opportunity at low level wages: Small business provides effective
employment opportunity through organization can attain their profitability in systematic way.
Thus, it requires at every level to perform various task and operations. In this aspect, the business
gain profitability on the business ground which ascertain for development of company (Guroff
and Carstensen, 2014).
Creation of employment in systematic way: Small business is providing various benefits that
assist to grow business and their working performances. In this aspect, they are providing wages
and working environment to each member so that they can maintain relations with various
people easily (Siegel and Wright, 2015). It make profits and revenue at high level for
development of the working environment and operations.
Owner enjoy profits of the business: In small business another importance that conducted by the
firm is development of working environment with enjoying owner participation. As results, they
are only enjoy profits of the company through business performances can be maintain (Cullen,
Johnson and Parboteeah, 2014). It makes high revenue and profitability which ascertain to
overcome business issues and problems. In addition to this, profits of the company is easily
develops through providing positive working environment to each person at workplace.
Owner is responsible to make decisions within the business: Beside this, small business is also
important to make responsibility towards the people. In this aspect, they are participate to

achieve common goals and objectives. Thus, they are only person who take risk and profitability
for achieve targets in systematic way. Hence, cooperation could be maintain through
measurement of revenue and outcomes (Kuratko, Morris and Schindehutte, 2015).
TASK 3
P5 Characteristics and, traits and skills for two successful entrepreneur
Entrepreneur is person who possess new enterprise to achieve common goals and
objectives. In this aspect, they are shown profitability and outcomes which make to development
of the business environment (Cullen, Johnson and Parboteeah, 2014). There are different types of
entrepreneur are working within the business environment as follows:
Entrepreneur as a leader:
In order to make effective results, this type of entrepreneur working as a leader. In this
aspect, risk could be ascertain that assist to develop market in systematic way. Thus, significant
could be maintain. In this way, entrepreneur are works to motivate their business people so that
they can maintain sustainability and performances at workplace (Field, Pande and Rigol, 2013).
They are working to give proper direction to each employee so that performances could be
maintained and sustainability can be occur. It will assist to achieve goals and objectives that
determine by the company is systematic way. Thus, targets and new plan could be ascertain for
development of the business operations. They have require skills such as initiatives, decision
making power, encouraging to employee and many more qualities (Crawford, McKelvey and
Lichtenstein, 2014). It will assist to make targets and objectives in systematic way that are
develops through monitoring outcomes and performances. In addition to this, they are also
working as a motivator to motivate their business member to achieve goals and objectives. In this
way, they are participate to accomplish desires results that are effectively work at workplace of
the country.
Research into entrepreneur
Some entrepreneur are working with conducting research program at workplace. They all
are determine objectives through working with market research for accomplish results and
monitoring performances to overcome business issues. In this way, they are also maintaining
results and revenue to increase efficiency, productivity and generating new products and

services. In this way, goals and objectives can be determine as quality of research that assist to
maintain results and performances which ascertain to overcome weaknesses and outcomes that
are available to monitor business issues (Hmieleski and Lerner, 2016). In addition to this, they
are requires skills through company can conduct research program at workplace of the company.
In respect to this, profitability can also ascertain for developing ideas and revenue that make
effective results within the environment. For this, entrepreneur are require social values and
knowledge through business achieve their goals and objectives. It make sustainability for
enhance outcomes and maintain positivity. It also make sure that the organization can ascertain
results with increasing productivity and efficiency for which requires for development of the
nation and their outcomes (Crawford, McKelvey and Lichtenstein, 2014). They are contribute
diverse and effective conversion to achieve common goals and objectives.
P6 How entrepreneurial personality can reflect to motivation and mindset
Both entrepreneur are providing their effective participation to achieve common goals
and objectives. In this way, they are ascertain to development of the working environment in
systematic way. Thus, it creates effective opportunity for development of the workers and their
performances (Cullen, Johnson and Parboteeah, 2014). Leader entrepreneur can reflect to
motivation in the following context:
Inducement: In order to motivate employee, leader entrepreneur possess quality to provide
incentives, concession and many other benefits through business can achieve their goals and
objectives. In this way, they can motivates to employee to get high revenue and profits through
achieving common goals and objectives (Audretsch, Lehmann and Paleari, 2015). In this way,
small business can easily set targets and profitability at workplace.
 Encouraging: With the help of encouraging, the business can ascertain results to monitor
performances and outcomes. In this aspect, employee are take part to get various benefits
that are easily monitor through assess business environment. In addition to this, it also
determine to motivate people in systematic way through providing them benefits
(Kuratko, Morris and Schindehutte, 2015).
 Decision making: With the help of leadership quality, the company can easily ascertain
results which assist to make decisions. In this aspect, entrepreneur make decisions that

support to each activity in the systematic way. Thus, goals and objectives must be taken
which make high profits and revenue at workplace.
 Employee encouragement: With the help of encouraging employee, leader entrepreneur
can make successful results. Encouragement is providing benefits in term of developing
ideas and profitability. It will encouraging to organization member to share their ideas
through business can easily maintain their results and performances. Hence, they can
manage work accordingly (Crawford, McKelvey and Lichtenstein, 2014).
 Monetary benefits: In this way, leader entrepreneur are providing monetary benefits
through business can achieve their targets and goals. It will assist to set targets and goals
which assist to gain competitive advantages at workplace. With the help of ascertain
results, the firm can develop positive working environment (Honig, 2015).
Research entrepreneur provides various benefits through giving their participation at workplace
in term of developing ideas and opportunity. It assist to grow business in term of positive
environment and growth. It assist to make feasibility that acquire for taking risk and innovations
at workplace of the enterprise. It also measure ideas and opportunity that are require for
matching concept and ideas. In addition to this, the company also take responsibility to measure
profits and outcomes which can be determine in systematic way (Qian and Acs, 2013). They are
motivate and make mindset through enhance new production method and results which require
to ascertain profitability. With the help of market structure, development program is made that
requires to achieve common goals and objectives. Thus, small business can perform effectively
for measuring performances and results at workplace.
TASK 4
P7 How background and experience can hinder and foster to entrepreneurship
With the help of effective background and experience, hinder performances could be
measure for entrepreneurship. It assist to make positive decisions at workplace of the company
so that goals and objectives are undertake within the business environment (Failla, Melillo and
Reichstein, 2017). There are various models can be applied that assist to foster entrepreneurship
program in systematic way. They are as follows:
The free market model: This model is requires to perform activities that assist to develop
business environment in systematic way. Thus, role of government is very high in which they are

perform to make public policy and outcomes. With the help of this model, culture can be
develops which make successful results and operation that require to ascertain results (Plummer
and Acs, 2014). In addition to this, infrastructure can also be enhance which acquire to find
obstacles at workplace. It will assist to make good telecommunication facility that are require to
perform functions and operation in systematic way. Therefore, the company can easily foster
entrepreneurship program. In US and Canada this model is frequently applied which make
successful operations and result which take for measuring outcomes (Shneor, Jenssen and
Vissak, 2016).
The guided individualism model: This model is based on encouragement of employee which
requires to perform effective working environment and sustainability at workplace. Thus, goals
and objectives need to be maintain that acquire for achieve common goals and outcomes. In this
way, role of public policy is too high through business results can be ascertain which would be
taken at workplace of the company (Guroff and Carstensen, 2014). There are various way,
through the business can encourages to employee to ascertain positive results at workplace of the
company. This model is experience of Singapore and Taiwan country in which they are perform
functions and operations. Thus, goals and objectives can be achieve that are requires for
development of the business environment.
The social democrat model: This model is combine of social aspects and encouragement of the
company productivity. In this aspect, the company need to provide social framework for
developing ideas and operations in systematic manner. Thus, it can be negotiate in different types
of partners such as employers, employees and government. It will make sustainability at
workplace through developing ideas and promoting labor in great efficiency. It also encourages
to employee to work according to social benefits that are requires to perform functions and
operations in systematic way. It will encourages to member to ascertain results in positive way. It
can be complying with social measure such as retraining scheme, unemployment benefits and
many things that are requires to perform effective functioning (Failla, Melillo and Reichstein,
2017).
CONCLUSION
From the above report it can be articulated that entrepreneurship program assist to
develop profits and revenue in systematic way that make positive results. In this way, the

company can make results and revenue. Furthermore, it summarized about entrepreneurial
venture that are requires to perform functions and operations. Moreover, it also analysis
differences and similarities between different types of entrepreneurial venture who perform
effective functions and operation at workplace for developing ideas and opportunity. In addition
to this, it also assess data that are requires to perform functions and operation for different types
of personality and skills that are possess by entrepreneur. In addition to this, it is also helpful to
develop mindset and with taking views and opinion of different people. It makes profitability and
high revenue that are requires to perform functions and operations.

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