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