ESB. Table of Contents INTRODUCTION....................

ESB

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Entrepreneurial ventures with relation to typologies...................................................................1
Scope, growth and development of entrepreneurial ventures......................................................2
Similarities along with differences between ventures of entrepreneurship.................................3
Interpretation of relevant data illustrating the ways micro or small businesses impacts on
economy.......................................................................................................................................5
Importance of start-ups with small businesses towards social economic growth........................6
TASK 2............................................................................................................................................7
Characteristic traits and skills of successful entrepreneurs.........................................................7
Personality aspects that reflects entrepreneurial mindset and motivation.................................10
Background and experience ......................................................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Entrepreneurship term is a process that includes developing, starting, executing as well as
managing tasks or operations through coordination with distinct departments of business. The
presentation covers characteristic traits, motivational drivers together with skills of well known
entrepreneurs. It also evaluates the ways in which experience with background influences them
positively and negatively.
Entrepreneurship involves dynamic procedures to build incremental wealth together with
innovative valuable things which results in welfare of society. It results in building of entity
through assembling addition to coordinating with all resources to lead towards objectives
achievements by managers skills. It is a journey that starts with generation idea for small
business and continues with effective business management. It is also known as capacity for
innovation, investments addition to expansion with unique product, new technique and in new
market. Present reports illustrates different venture types as well as their relation with
entrepreneurship typologies. Moreover, in this report various similarities with differentiates are
also explored among entrepreneurial ventures. The report also constitutes impacts of small
businesses on economic as well as importance of small business and start-ups for social
economic growth.
TASK 1
Entrepreneurial ventures with relation to typologies.
Entrepreneur: People who explores new product possibilities with new methods or
inventions in order to make innovations available in market are entrepreneurs.
Entrepreneurship: Incubator of innovation is defined to entrepreneurship. In other
words, the term is described to advent of new undertaking specially small venture so to
materialize innovative ideas or thoughts of entrepreneurs. It is among the field in which an
individual start venture idea that ends up as a giant enterprise. There are various entrepreneurial
ventures that are listed below:
Small business entrepreneurship: The ventures that are independently owned with
limited capital and resources are said to small business entrepreneurship. These ventures operates
at small scale in order to serve local residents as well as earning revenues for family members.

Tuition teachers, electricians, photographers, carpenters and grocery stores are part of small scale
businesses.
Scalable startup entrepreneurship: The business where an individual has creative
though and they look for adaptable along with repeatable action planning by attracting venture
capitalists refers to scalable startup entrepreneurship. The company under such venture type is
starting with the aim that the vision can be able to make numerous changes in present nation.
Once venture capitalist are found, business men changes their emphasis towards fuelling up rapid
growth. Successful example is Online shopping under scalable startup entrepreneurship.
Large company entrepreneurship: This form of venture requires huge resources for
execution and management of activities in effectual manner as the production of commodities is
done at large scale. Such ventures earns huge profits and have power on finite life cycles.
Changes in legislations, customer buying behaviours, technologies and arrival of new competitor
pressurises these business for disruptive innovations. Yahoo, BBC, Titan and Microsoft are some
large company entrepreneurship.
Social entrepreneurship: One of the approach initiated by start- up companies addition
to entrepreneurs where business model is developed, funded together with implemented to
provide solutions for cultural and social issues. These entrepreneurship have intention to
introduce unique and innovative commodity that can result in more satisfaction of society's needs
along with requirements of market so to make various national developments. Barnsley
Community Build, Cawthorne Children's Centre and CASA are part of social entrepreneurship.
Scope, growth and development of entrepreneurial ventures.
Like other businesses, entrepreneurial ventures are considered are equally important as
the scope with development is increasing due to more investments by individual in new business
despite of taking 9 to 6 jobs. The scope of small ventures is wide due to performing numerous
activities with less resources or technological requirements. In addition, these entities have
moderate growth opportunities due to their limited profits. They contributes 52 % of overall
revenue which shows that these are part of developing category for growth enhancements
(Growth of small enterprises. 2018). Where as, large companies have wide scope as they
manufactures goods in bulk and attain growth through capturing large proportion of market share
that shows huge opportunities are available to these enterprises for expanding growth. In UK,
there are about 750 million entities performing operations at large scale that shows wide scope to

attain growth in global market. In contrary, social entrepreneurship is another concept that is
acquiring growth by providing job facilities to approximate 1.44 million residents for improving
society's condition, improving business standards together with resolving issues. All these shows
the workings of ventures towards path of acquiring growth objectives along with making huge
developments (Growth of social entrepreneurial venture. 2019).
Entrepreneurial typologies
Typologies of entrepreneurship are as classified:
Lifestyle typology: in this, entrepreneurs performs actions for improving living standards
of local together with regional people by offering employment opportunities as well as serving
innovation products that can eliminate problems with society. Lifestyle typology is closely
interrelated with social entrepreneurship as social entrepreneurs makes efforts to improve society
lifestyle by understanding problems and accordingly delivering innovations that results in issue
resolution with improving lifestyle.
Growth typology: The entrepreneurship is based on earning maximum revenues as well
as sustaining growth. It leads the business towards faster capital accumulation. It is related with
scale start-up and large company entrepreneurship as both businesses introduces new innovations
to satisfy desires of market in proper manner and to acquire growth opportunities to lead
competitive advantages.
Similarities along with differences between ventures of entrepreneurship.
Differences:
Small business -
Definition:Entrepreneurial ventures that requires limited resources, less investments and
negligible technologies are small business entrepreneurship.
Purpose of existence: To earn livelihood for family members.
Key features: Utilises limited resources and have wide scope due to diverse activities.
Scale startup
Definition:Scale start-ups are defined as ventures that operates with the aim to change the world
with their vision.
Purpose of existence: To attract crazy investors and putting intangible ideas into tangible
commodities that can change the world.

Key features: Expanding business towards large scale in limited duration and allures numerous
venture capitalists for investment purposes.
Large company
Definition: Large company are said to the business concerns which works in finite business cycle
to offer unique products which are variant of core products.
Purpose of existence:To earn huge proportion of profits with market share.
Key features:Works in finite business series and attains growth through new product offerings as
well as sustaining innovations.
Social entrepreneurship
Definition:Social entrepreneurship are the business units that creates products after
understanding society problems and delivering such products to resolve issues as well as
converting the world into better place.
Purpose of existence:To deliver welfare to needy as well as poor individuals.
Key features:Objective to set the business is to construct a better place and creates commodities
that can satisfy with resolving social issues.
Despite of differences, entrepreneurial ventures also have similarities that are as follows:
 All entrepreneurial ventures are established to focus on satisfying needs, wants and
preferences of society and its members.
 Every entrepreneurial venture has unique innovative idea that is framed by respective
entrepreneurs.
 These ventures offers job opportunities for society upliftment as well as aims to provide
standardised life to enclosed people.
Interpretation of relevant data illustrating the ways micro or small businesses impacts on
economy.
Small and micro entities makes various contributions for rising national income of the
country together with developing economic position in global aspects. By executing the business
practices, these businesses helps in dealing with problems concerned with poverty, fluctuations
in economic cycles and shrinking national income. They improves nation's growth through
developing urban addition to rural areas. Entrepreneurs of these business concerns have huge
skills, talent as well as knowledge that helps in influencing general public top make purchase

decisions so that business sales increases and growth is enhanced. The business concerns are
more stable than other form of ventures because of their limited scale and expansion scope.
While UK was facing impacts of Brexit, small businesses have initiated their
contributions towards development of UK economy through formulating actionable policies and
making implementations at accurate time that resulted in huge business profit margins as well as
economic growth enhancement. With this, micro and small organisations have gained
recognitions, growth and venture developments.
Data interpreting impacts of micro with small ventures on economy.
Illustration 1: Impacts of business concerns on UK economy. 2019
(Source: Impacts of business concerns on UK economy. 2019)
As per the statistical data, it can be interpreted that small and micro business positively
makes contributions for innovational growth together with other aspects. The data states that
small organisations contributes in employment generation (48%), overall turnover (33%) and
other business (99.3%). At same time, medium companies contributes in providing employment
opportunities (12%), turnover (12%) as well as on other business concerns (0.6%). Taking into
consideration, large companies contributions in employment (40%), overall turnover (53%) and
other businesses (0.1%) are made. Considering contributions, it states that these business results

in impacting on employment generation, raising living standards, increasing foreign exchanges
and improving infrastructural facilities that improves and strengthens UK's economic position.
Importance of start-ups with small businesses towards social economic growth.
Social economy comprises cooperatives, mutuals, not for profits, foundations and
voluntary despite of paid activities which are carry forwarded within communities and across
boundaries of national economy through sharing individual primacy together with memberships.
Start up business concerns attracts venture capitals and financial hubs for innovations and global
expansion that acts as essentials for social economic developments. Following are the
importance of small and startup entities in context to social economic development:
Motivating innovating products: Small businesses addition to start-ups starts their
initiations with the aim to launch innovations. New ideas or innovations attracts markets and
results in satisfying demands in satisfactory aspects. The UK economy has faced severe
problems after Brexit that created hurdles for large companies by reducing profitability. Small
companies by taking advantages of such situations have expanded their product offerings,
satisfying demands and improving profits which acted as contribution towards social economic
development.
Providing employment: All organisations require workforce and same was with small
entities and start-ups. These business have attracted people who were rejected by large
companies and hired them to execute distinct operational tasks. Providing employment to local
residents as well as unemployed individuals contributes in resolving social issues that stimulates
social economic developments.
TASK 2
Characteristic traits and skills of successful entrepreneurs
Entrepreneurs are the one who organises, manages additionally operates multiple
businesses having distinct objectives as well as bears financial risks. They have huge willingness
for searching new ideas, motivating people along with attracting investors as to gain potential
profits. Here, each entrepreneur is selected from social, global and local level and their certain
characteristics, traits and skills are identified which distinguished them from business managers.
Victoria Beckham ( Global Entrepreneur)

This female entrepreneur is a business woman, singer and fashion designer and is
recognised as one of the top female entrepreneurs at international level. There are certain
characteristics, traits and skills which distinguish this businesswoman from business managers.
These are-
Traits: Traits are defined to valued aspects of individual actions or activities. The traits of
successful entrepreneurs are:
Discipline: Victoria Beckham is extremely disciplined that help in coping up with
certain challenges and problems. This entrepreneur keep their professional addition to personal
life separately while performing business functions. Various business managers fails to be
disciplined as well as to avoid interferences from achieving objectives, but Victoria Beckham
does not posses such behaviour as they carefully handles all interferences which differs them
from others.
Confident: Entrepreneurs are generally confident about their own idea. Same as Victoria
Beckham have established good recognition by transferring their idea into successful business
enterprise. The trait distinguish them from others due to their huge confidence level to stick on
decisions.
Skills: Skills refers to expertise as well as talent which is required to perform smart work.
Important skills within well-known entrepreneurs are:
Decision making skills: Victoria Beckham has excellent decision making skill that is
evaluated through measuring their success. Both entrepreneurs have attained success by taking
appropriate, timely and effective decisions. Business managers fails to make decisions on
required time that differentiate the selected personalities from others.
Problem solving skills: All entrepreneurs faces some or other issues but few only finds
accurate solutions for problems. For instance, Victoria Beckham carefully handles all problems
or situations in appropriate manner which results in positive aspects in their businesses. On the
other hand, managers do not possess such skills and they try to avoid problem rather than solving
it.
Characteristics
Risk taker- This entrepreneur is not afraid to take risk in business and believes that in
order to run business in a successful way, it is Important to take risks. On the other hand,
managers try to minimise risks and do not take them in their business activities.

Flexibility- Another trait of this entrepreneur is that this businesswoman is flexible in
nature and mould herself in various business activities such as singing, fashion designing and
entrepreneurship. On the contrary, business managers do not perform many tasks and there task
is limited to control and manage business operations.
Pippa Murray ( Local Entrepreneur)
Pippa Murray is a female entrepreneur of United Kingdom who runs a small business of a
food brand named Pip & Nut. This entrepreneur makes this delicious brand from natural nut
butter, palm oils and refined sugar which makes it a healthy food (Pip & Nut founder, 2019).
There are some specific characteristics, traits and skills of this entrepreneur which is different
from business managers. These are-
Characteristics
Hard Worker- This entrepreneur is hard working and results are in front of United
Kingdom. This local businesswoman had worked hard to develop a peanut butter which is tasty
and healthy at the same time. On the contrary, business manager's work is limited and they do
not any kind of extra effort in their business activities.
Self motivation- Another characteristic which can be seen in this entrepreneur is that this
businesswoman is self motivated and do not feel demotivated whenever any kind of negative
situation takes place. On the other hand, managers afraid whenever any unfavourable situation
exists.
Skills
Innovative Thinker- Pippa Murray is an innovative thinker as this businesswoman
wants to create a peanut butter which is tasty as well as healthy for human body. On the other
hand, business managers do not think in an innovative manner as they are afraid to take risks.
Strategic Thinking Skills- This entrepreneur is a strategic thinker as Pippa Murray has
think in a strategic manner and than produced this delicious peanut butter with healthy
ingredients. On the other hand, business managers do not think in this manner and just do their
work in a limited manner.
Traits

Curiosity- The basis trait which can be seen in Pippa Murray is that this entrepreneur is
curious in nature and by this curiosity, this person had developed her business. On the contrary,
managers are not curious in nature and do not work more than their limits.
Efficiency- This entrepreneur is efficient and performs all the business activities in an
efficient and effective manner. On the contrary, business managers do not their work as a duty
and do not put any kind of extra efforts in their work.
Dr. Andrew Bastawrous ( Social Entrepreneur)
Dr. Andrew Bastawrous is a social entrepreneur who is a co-founder and CEO of Peek
Vision, which is a social enterprise that develops technology of smartphone for radically
increasing access eye care in some challenging places of world. The traits, skills and
characteristics of this entrepreneur are-
Characteristics
Passionate- The basic characteristic of this entrepreneur is that this businessman is
passionate in its work and conduct all the business activities with passion. On the other hand,
business managers do not work with more passion and do it within their boundaries.
Self- Belief- This entrepreneur has belief in himself and this is the reason Dr. Andrew
Bastawrous has able to achieve success. On the contrary, this business managers depend upon
their seniors in order take business decisions.
Skills
Leadership Skills- Dr. Andrew Bastawrous has effective leadership skills and this is the
reason this entrepreneur is able to lead and supervise workers to perform appropriately. On the
contrary, managers do not lead their workers instead they just allot work among them.
Communication Skills- This entrepreneur has effective communication skills which
helps in communicating ideas and opinions in front of employees. On the other hand, managers
are not able to formulate effective communication among their subordinates.
Traits
Confidence- The basic trait of this entrepreneur is that this social businessman is
confident regarding the work accomplished by this person. On the other hand, business managers
are not confident and do not take any business decisions without asking their seniors.

Disciplined- This entrepreneur is disciplined and always focus upon goals of a business.
On the other hand, business managers do limited work regarding controlling and managing
business activities.
Personality aspects that reflects entrepreneurial mindset and motivation.
Entrepreneurs posses own personality that provides guidances for maintaining healthy
relations at workplace as well as with interested ones. Entrepreneurial personality is combination
of qualities or traits which forms distinctive character of an individual. The personality of an
entrepreneur influences their mindsets together with motivation level. To gain knowledge about
concept of personality, Ocean personality model is carefully evaluated and results are on next
slides.
Ocean Personality model refers to taxonomy for traits that involves followings:
Openness: Openness consists of distinct facts including active imagination, curiosity,
attentiveness, aesthetic, preference of variety addition to aesthetic sensitive towards inner
feeling. For example, Victoria Beckham, Pippa Murray and Dr. Andrew Bastawrous are open
minded that allows them together with their workforce to learn new concepts and things,
enjoying new experiences and taking challenges for accomplishment of results that impacts in
positive manner on their mindset with motivational level.
Conscientiousness: Traits associated planning ahead, self discipline, ambitious and hard
work. J Dr. Andrew Bastawrous is more focused towards their strong vision that limits them to
do not get involve in interruptive tasks despite influences them to continue making efforts for
acquiring desired objectives in set time frame.
Extraversion: It states that entrepreneur must be talkative, energetic and investigates
simulations for others. Pippa Murray and Dr. Andrew Bastawrous enjoys talking with others
additionally they feels energize by maintaining social relations that results in increasing the
goodwill of their firms in competitive market which increasing their motivational level along
with mindsets.
Agreeableness: It reflects cooperative nature of individuals. It includes trustworthy,
coordination as well as cooperation. Victoria Beckham is trustable, helping and generous
towards others. They establishes favourable atmosphere around them that reflects on their
mindsets with influencing level of motivations.

Neuroticism: It reflects the ways entrepreneurs treat their staff members in calm and
effective aspects. In addition, personalities with high neuroticism have mood swings, irritations
and anxiety. In contrary, high neuroticism personalities are stable and have emotional resilient.
Victoria Beckham, Pippa Murray and Dr. Andrew Bastawrous are low neuroticism through
which they patiently deals with more stressful circumstances, feel relaxed as well as rarely gets
depressed that shows that they are highly motivated and keep others stable addition to calm.
Background and experience
Personal life experience addition to family background helps in learning new things
together with facing critical situations calmly without any hurdles. Supportive family
background and excellent experience helps entrepreneurs to grab opportunities through indulging
themselves in numerous other activities that results in their career developments.
Pippa Murray ( Local Entrepreneur)
Background: Pippa Murray do not belong to a wealthy family and neither it was her dream to
develop a business. This entrepreneur was a marathon runner and being a health conscious
person, this woman always look out for healthy food. Later, this woman noticed that market is
providing unhealthy peanut butter which developed an idea in her mind to develop peanut butter
made out of natural ingredients.
Experience: This entrepreneur worked with Escape the Shed who helped this businesswoman to
give a platform to convert this business idea into action.
Victoria Beckham ( Global Entrepreneur)
Background: Victoria Beckham took birth on April 17, 1974 at Harlow, England. Beckham's
father was electronic engineer while mother was hairdresser as well as insurance clerk. The
personality bought up in Hertfordshire where the parents of such personality had business
concern of electronic items. For pursuing the passion, Victoria was always supported by her
family and attended James Theatre School to study modelling and dancing.
Experience: Victoria Beckham is known as model, singer, fashion designer and businesswoman.
Victoria was part of Spice Girls, Spice world, Forever, Out of your mind, Learning to fly, Amind
of its own, Rocawear and VB Rocks. Beckham made successful career in fashion industry with
perfumes, dresses and sunglasses collections.
Dr. Andrew Bastawrous ( Social Entrepreneur)

Background: This entrepreneur belongs to a middle class family and being an Eye Surgeon and
Associate Professor, this businessman had developed Peek, which is a mobile health technology
that helps in understanding the eye problems.
Experience- This entrepreneur with team moved to Kenya and there, setted up around 100
temporary eye clinics that. There, this social entrepreneur brought costly equipments of computer
for improving the diagnosis treatment and quality which was important for study of research. But
it was not able to reach high majority of people which are affected by eye vision problems. In
this context, this entrepreneur developed mobile application and hardware of Peek to reach many
people.
Impacts of backgrounds addition to experiences on entrepreneurs.
Positive impacts: Entrepreneurs faces worst situations while starting their career which boost
their capabilities to dream big and carefully handles them to attain success. For instance,
Victoria Beckham faced issues to set their own businesses but with Decision making as well as
Problem solving skills she never gave up that reflects on positive aspects in their life. Pippa
Murray health consciousness nature helped her to develop a peanut butter with healthy
ingredients. Dr. Andrew Bastawrous had learned from his failures which helped him to achieve
success.
Negative impacts: These entrepreneurs started their career when they were children that
impacted on their education life as they faced problems to give time towards studies. Due to this,
lots of struggles were faced that limits their workings for leading success in childhood days
which showed negative motivational impacts.
CONCLUSION
The presented report concludes that entrepreneurs are the leading personalities who
converts new thoughts towards innovations which results in improving profits together with
resolution of issues. Social entrepreneurship, small business, large companies as well as scale
start-ups are some entrepreneurial ventures which have few differences as well as more
similarities. Entrepreneurial ventures have interrelation with lifestyle and growth typologies.
Micro and small firms impacts in positive manner on UK's economy through generating
employment and improving overall business turnover.

The Brochure concludes that entrepreneurs faces tough situations in different life phases
for achieving results. Characteristic traits of Victoria Beckham and Jamie Oliver are that they are
discipline and confident towards their work. They have skills including decision making and
problem solving skills. Motivational personality aspects within both entrepreneurs are active
imagination, preference of variety, planning ahead, hard work, energetic, trustworthy,
cooperation and emotional resilient. Life experiences as well as family backgrounds of the
personalities are different which shows impacts in positive together with negative manner.

REFERENCES
Books and Journals:
Allen, S. and Truman, C., 2016. Women in business: Perspectives on women entrepreneurs.
Routledge.
Baum, J. R., Frese, M. and Baron, R. A. Eds., 2014. The psychology of entrepreneurship.
Psychology Press.
Cumming, D.J. and Zahra, S.A., 2016. International business and entrepreneurship implications
of Brexit. British Journal of Management, 27(4), pp.687-692.
Dees, J. G., 2017. 1 The Meaning of Social Entrepreneurship. In Case Studies in Social
Entrepreneurship and Sustainability(pp. 34-42). Routledge.
Dennis Jr, W. J., 2011. Entrepreneurship, small business and public policy levers. Journal of
Small Business Management. 49(1). pp.92-106.
Goss, D., 2015. Small Business and Society (Routledge Revivals). Routledge.
Long, R. G. and Chrisman, J. J., 2014. Management succession in family business (pp. 371-387).
Sage Publications: London, UK.
Scarborough, N. M., 2016. Essentials of entrepreneurship and small business management.
Pearson.
Siegel, D.S. and Wright, M., 2015. Academic entrepreneurship: time for a rethink?. British
Journal of Management, 26(4), pp.582-595.
Volery, T. and Mazzarol, T., 2015. The evolution of the small business and entrepreneurship
field: A bibliometric investigation of articles published in the International Small
Business Journal. International Small Business Journal, 33(4), pp.374-396.
Online:
Growth of small enterprises. 2018. [Online]. Available through:
<https://www.fsb.org.uk/media-centre/small-business-statistics>
Growth of social entrepreneurial venture. 2019. [Online]. Available through:
<https://www.redbull.com/my-en/social-enterprise-stats>
Impacts of business concerns on UK economy. 2019.[online]. Available
through:<https://www.market-inspector.co.uk/blog/2017/05/facts-about-small-medium-
businesses-in-the-uk/>
Pip & Nut founder. 2019.[online]. Available
through:<https://www.telegraph.co.uk/connect/small-business/pip-and-nut-pippa-
murray-how-to-sell-your-dream/>