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Entrepreneurship Development : PDF

   

Added on  2020-01-16

18 Pages5870 Words165 Views
ENTREPRENERUSHIP

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Different types of entrepreneurial ventures and their relation to the typology ofentrepreneurship.....................................................................................................................3M1...........................................................................................................................................5P2 Similarities and differences between different entrepreneur ventures..............................5M2...........................................................................................................................................7D1...........................................................................................................................................7TASK 2............................................................................................................................................8P3 Impact of micro and small business in the economy........................................................8P4 Important small business and business start-ups will contribute to the social economy. .9M3.........................................................................................................................................10D2.........................................................................................................................................10TASK 3..........................................................................................................................................11P5 Characters, traits and skills of successful entrepreneurs.................................................11M4.........................................................................................................................................12P6 Entrepreneurial personality reflect entrepreneurial motivation and mind-set................12D3.........................................................................................................................................14TASK 4..........................................................................................................................................14P7 Background and experience can hinder or foster entrepreneurship................................14D4.........................................................................................................................................16CONCLUSION..............................................................................................................................16REFRENCES................................................................................................................................17

INTRODUCTIONEntrepreneurship meaning covers a wide range of aspects. Entrepreneurship is thecapability and desire to start-up a new venture offering services and specific product, managingof business and driving profit through the venture.The word entrepreneur has French origin, which refers “to undertake”. In context withthe business it refers to start an enterprise or venture. According to Merriam-Webster Dictionaryentrepreneur means that the person who is capable to bear risk and organises and managesenterprise (Bosma and Levie, 2010).Many of times the terms “small business” and “entrepreneur” are used interchangeably.But these two terms differs from each other by the factors like speed of wealth creation andamount of wealth creation is more in entrepreneur than the small business. Entrepreneurship directly affects the economic growth and countries. The poor countriessupports the entrepreneurship largely from last decades for their economic growth anddevelopment of countries. China and countries of East Asia develop their economy with help ofestablishing new enterprise for exponential growth.Brexit is developed economic growth and the business community. Post Brexit leads tothe collaboration of business entity with the government which is important for the economicrelationship of nation in coming years. After the implementation of Brexit the UK government isenhancing the entrepreneurial activities in the country for their development.TASK 1P1 Different types of entrepreneurial ventures and their relation to the typology ofentrepreneurshipThe capability and desire to manage and the organise a venture with risk taking spirit inreturn to develop profit from the organisation. Entrepreneurship is developing new ideas and newthing by different people (Morris, Kuratko and Covin, 2010). Entrepreneurship is themanagement of land, labour, capital and the resources and all put together to earn profit. Ex.Some one develop tech geniuses from the silicon valley ventures.The entrepreneur is the person who is self- motivated and confident towards theinnovative idea, passionate towards the work and risk bearing capability. The entrepreneur aren

willing to fail and learn from their mistakes and start over again and result in profitableestablishes enterprise.Entrepreneur venture is the enterprise which is self funded and managed by theentrepreneur with confidence and the new innovative ideas. There are different types of venturesdepending on the typology of different entrepreneurship are like social entrepreneurship, serialentrepreneurship, female entrepreneurship etc.Serial entrepreneurship refers to that entrepreneurship in which the entrepreneur has alots of new innovative ideas and continuously jumps to the new new ventures with next newideas after establishing the one ventures (Storey and Greene, 2010). The serial entrepreneur sellsits venture to some one and succeed further with new ideas. Serial entrepreneur if full of ideasand self motivated and accepts changes in his life. There are many serial entrepreneurs whokeeps on moving with new ideas like Steve jobs who continuously used to came up with newideas and establish new ventures.Serial entrepreneur venture of Niklas Zennstrom and Janus Fris, belongs to Sweden andDenmark established a chain of tech companies with new ideas including Vdio, Rdio, Kazaa, andSkype. The establish ventures with series of ideas to earn profit.Women Entrepreneurship defines the management and establishment of an profitableventures which are established by the woman or group of self motivated women. These womenare actively working in the establishment and the organising of the company by own investmentand risk bearing capabilities (Bridge and O'Neill, 2012). Ex. Women Enterpriser venture Adafruit Industries UK founded by Limor Fried in 2005.It all starts when she made an MP3 player. Now this company is having employees around 85who are engaged in making hardware kits and 25000 sq. ft. factory. These hardware kits aredesigned to produce anything from the GPS dog collar or an LED wig. This company alsoprovide E-learning portal for engineers.Social Entrepreneur is the person who serves services and product with an innovativeidea for the betterment of society and helping the social community in solving their problems.The entrepreneur is having risk bearing capability and create some profitable for thedevelopment of the society. Social entrepreneur contribute to the social innovation and leads tothe changes in education, health and environment development. They basically focuses on thepoverty alleviation goals and the betterment of environment with the zeal of entrepreneurship

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