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Report On Entrepreneurial Ventures & Small Size Organization's Role

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Added on  2020-02-03

Report On Entrepreneurial Ventures & Small Size Organization's Role

   Added on 2020-02-03

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ENTREPRENEURSHIP
Report On Entrepreneurial Ventures & Small Size Organization's Role_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Different types of entrepreneurial ventures and its relation with typologies.........................3P2 Similarities and differences between different entrepreneurial ventures...............................4TASK 2............................................................................................................................................5P3 Impact of small business organizations’ contribution in social economy of country............5P4 Contribution of small business start up in economic growth of nation.................................6TASK 3............................................................................................................................................8P5 Characteristics, traits and skills of entrepreneurs..................................................................8P6 Entrepreneurial personality impact on entrepreneurial motivation.....................................10TASK 4..........................................................................................................................................11P7 Reflection on entrepreneur characteristics...........................................................................11CONCLUSION .............................................................................................................................12REFERENCE.................................................................................................................................14INTRODUCTION...........................................................................................................................1
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INTRODUCTIONEntrepreneurship is an activity to start up a new business by using innovative ideas andtechniques. Under this concept, entrepreneur takes risk and uses different strategies forestablishing entity and its expansion. The present report is based on understanding differentaspects on entrepreneurial ventures and small size organization’s role in economic growth ofUK. In this regard, similarities and differences of various entrepreneurship types are to bedetermined. Moreover, small business enterprises’ contribution in social economy of country isrecognized. Along with this, characteristics of entrepreneur for running organization effectivelyare to be understood. Apart from this, learners able to acquire knowledge regardingentrepreneurial motivation in entity’s expansion through this study.TASK 1P1 Different types of entrepreneurial ventures and its relation with typologiesEntrepreneurship ventures are those risk-taking activities which set target to expand itsbusiness and increasing its efficiency. There are different kinds of entrepreneurial ventures candescribe as follows: -Small business entrepreneurship: - It includes entrepreneurship at small level. In thisregard, entrepreneur starts up entity and prepares strategies for its enlargement andenhancing business’ activities (Drucker, 2014). However, small businessentrepreneurship is related to taking risk for business operations at small level. Scalable entrepreneurship: - Under this entrepreneurship, scalable tasks or creatingbalance for effectiveness of organization is presented. Per measurement of businessperformance, risks are taken for creating balance regarding qualitative services andexpansion of firm. Thus, scalable entrepreneurship is useful for systematic managementand preparing strategies for entity’s growth (Kirzner, 2015). In accordance to this, propermanagement of business operations are recognized through this process.Large company entrepreneurship: - It is related to utilizing innovative ideas andtechniques for better quality of goods and services. Therefore, under this activity, a large-scale size company takes risk for expansion and adopts technological changes forenlargement of entity and enhancing services of firm. However, large companyentrepreneurship is innovative process for accepting changes to increase qualitative
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services of entity. In this regard, there is high level of risk occurs for investing fund andmaking valuable position in market (Carland, Carland and Stewart, 2015).Social entrepreneurship: - This entrepreneurship tool aims to gain social welfare at highlevel. In accordance to this, social entrepreneurs prepare strategy and implements plan forestablishing nonprofit organization. In this process, needed people take advantage ofentrepreneurs’ innovations. In UK, there are several social entrepreneurship organizationsuch as; national health services (NHS) that provides hospital services to care takers atlarge scale. In addition to this, social entrepreneurship is interrelated with welfare andcontribute in social development of country effectively. Entrepreneurship ventures’ relationship with its typology:- Various entrepreneurshipkinds are interlinked with each other which are useful for enlargement of entity andenhancing service qualities of firm at large scale. It is determined that all ventures arerelated to generating and operating innovative ideas as well organization’s effectivenesscan be obtained through this process (Bruni, Gherardi. and Poggio, 2014). In accordanceto this, entrepreneurs prepare strategy and different planning procedures for taking riskand implementing business organization effectively. Thus, typologies of severalentrepreneurship activities are interlinked with expansion and enhancing service qualitiesof entity at high level that is useful for increasing efficiency of entity. P2 Similarities and differences between different entrepreneurial venturesSimilarities:-All entrepreneurial ventures aim to take risk and expand businessorganization including providing better qualitative services. In this regard, entrepreneurs undersmall and large sized entities, social take risk for applying innovative ideas for entity’seffectiveness. However, composition of all entrepreneurship types is related to increasing morganization and enhancing service qualities of firm. In accordance to this, these entrepreneurialventures’ contribution remains effective for country’s development and increasing its efficiency(Urbano and Aparicio, 2016). Thus, enlargement and enhancing entity’s efficiencies consideredas adequate for creating organization’s and nation structure. It is determined that entrepreneurialventures are useful for generating innovative ideas and enhancing varieties of organizationalfunctions’ efficiency at large scale. It is useful for enlargement and developing environment ofentity efficiently.
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