Project On Types Of Entrepreneurial Ventures

Added on -2020-02-17

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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................4P1 Types of entrepreneurial ventures ....................................................................................4P2 Similarities and differences between entrepreneurial ventures.........................................5TASK 2............................................................................................................................................7P3 Impact of micro and small businesses on the economy....................................................7P4 Contribution of small business and business start-up in the growth of the social economy.8TASK 3............................................................................................................................................9P5 Characteristics Trait and skill of successful entrepreneurs...............................................9P6 Aspect of Entrepreneurial Personality Reflect Motivation and Mind Set......................10TASK 4..........................................................................................................................................11P7 Background and experience can hinder or foster entrepreneurship................................11CONCLUSION..............................................................................................................................12REFERENCES .............................................................................................................................14
INTRODUCTION There have been a lot of motives by which an entrepreneur start up an organization. Hehas to keep in mind the factors that affects business in a positive or negative way. This projectwill be focusing on various factors that will affect a well built enterprise. A successfulentrepreneur is the one who is ready to take risks for the establishment of his idea of business.This report will also be dealing with the types of entrepreneurial ventures and the differences andsimilarities among them. A business' capability to create impacts on the local and nationaleconomy will also be discussed within this project report. The contributions that have been madeby the small and medium sized business firms in the economical development will also becovered by this project. The personal background and traits of entrepreneurs that affects thebusiness will be another important part of this project report.TASK 1P1 Types of entrepreneurial ventures The business ventures are classified according to many factors that classify them inseveral categories (Armour and et. al., 2017). The subject to matter of the classification aredepend on the number of the employees within the organisation, annual turnover of business andthe total of the enterprise's balances sheet. The major classifications of entrepreneurial venturesare as follows:Schumpeterian Entrepreneurial Ventures: Those small scale business firms operatedby the independent owners and directors of the organisation. They primarily target togrow within the industry and earn maximum profit. They are majorly noticed for theircreative and innovative style of work practices that used in their working environment inthe company for the persuasion and exploitation of the opportunities. The Schumpeterianentrepreneurs are even established as the owners of managerial businesses by developingtheir small scale businesses (Baron and Tang, 2011).Intrapreneur Ventures: Intrapreneur ventures are the organizations where it is not theowner who brought up the idea of establishing that particular business with his creativitybut some other person who works as an employee in the same organization. An

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