Report: Entrepreneurship

Added on - 28 Dec 2019

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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1.Different types of entrepreneurial ventures typology of entrepreneurship...........................1P2. Similarities and differences between entrepreneurial ventures............................................2M1.Entrepreneurship in public and corporate sector..................................................................2D1. Scope, development and growth of entrepreneurial ventures..............................................3TASK 2............................................................................................................................................3P3 Impact of micro and small businesses on the economy.........................................................3P4 Important small businesses to the growth of the social economy after ‘Brexit’....................4M2 Small, medium and large businesses make to the economy.................................................4D2. Impact of Small Scale Industries on different levels of Economy.......................................5TASK 3............................................................................................................................................6P5. Characteristic, traits and skills of Successful Entrepreneurs,...............................................6P6. Entrepreneurial Motivation and Mindset.............................................................................7M3 Entrepreneurial characteristics.............................................................................................7D3. Traits, skills and motivational drivers of Successful Entrepreneurs...................................7TASK 4............................................................................................................................................8P7. Background and Experience Affecting Entrepreneurship....................................................8M4. Relation between the entrepreneurs, background and characteristics.................................9D4. Positive and Negative Experience influences entrepreneurs..............................................9Conclusion.....................................................................................................................................10References......................................................................................................................................11
INTRODUCTIONThis report is based on the entrepreneurship. It is a activity of carrying out variousbusiness transactions in order to generate profit. Small enterprises plays a big role in the growthof the economy by providing various employment opportunities to the unemployed people of thenation and at the same time promotes the skills and of artisan. There are different type ofentrepreneurs who undertake business operation some undertake it to earn profit while someothers done this to solve the social problems. Small, medium and large business enterprisesaffect the economy of the nation. Main traits, skills and characteristics which should be there inevery successful entrepreneur are give under this report. Background and past experience affectthe type of decision taken by the enterprise. There is a link between the skills of the employeesand success of the enterprise because these are the employees or man power which affect thebusiness process.TASK 1P1.Different types of entrepreneurial ventures typology of entrepreneurship.Entrepreneurs are the one who undertake business activity take risks in order to earnprofit. They undertake various business activities to satisfy the different needs and wants ofdifferent customers( Solesvik and et. al., 2013). Most of the entrepreneurs starts with theobjective of earn profit while some under this activity in order to solve the social problems orneeds.Different type of entrepreneurial venturesSmall business enterprises: These type of entrepreneurs start with a small amount ofmoney invested in their operations. Small number of employees work in this. Theseentrepreneurs start with a very innovative idea and attract large number of investors toinvesting the fund. These enterprises plays an important role in the growth of theeconomy.Large business enterprises: These enterprises undertake business operations at a largelevel. A huge amount of money is invested in this of enterprises. These entrepreneurshelps the nation in earning foreign exchange by doing the transactions internationally.Social entrepreneurs: Main objective of most of the enterprises is to earn profit but theseentrepreneurs undertake business operations to solve the social problems. Profit is thesecondary objective of these enterprises.s1
Scalable start up entrepreneurs: These are the newly start up enterprises who start withan innovative business idea to capture a large market share.Topology of entrepreneursTopology of entrepreneurs influence the enterprises to undertake the business operationsin an innovative way(Baines, Bull and Woolrych,2010). It helps in attaining business objectivesat the same time perform social responsibility.P2. Similarities and differences between entrepreneurial ventures.Type of enterpriseSimilaritiesDifferencesSmallentrepreneurs v/s largeentrepreneursThe main objective of both theenterprises is to maximiseprofit by effective utilisationbusiness resources at the sametime achieving the objective ofminimising cost.Smallentrepreneurs undertakebusiness activity on a smallscale on the other handoperations undertake on a largebasis of large businessentrepreneurs. Small amountof fund is invested in theoperations of small businessenterprises as compare to thefund of large bushinessenterprises.Social v/s start upentrepreneursBoth theentrepreneurs try tosolve or satisfy the variousneeds and wants of thecustomers.The main objective of socialentrepreneurs is to solve thesocial problems on the otherhand achieve or capture greatermarket share is the mainobjective of a start upenterprise.M1.Entrepreneurship in public and corporate sector.Entrepreneurs run the business in both public and corporate sector. It be seen or studiesalso shows thatentrepreneurs in corporate sector perform well in corporate sector in comparingof public entrepreneurs. Corporate entrepreneurs run or undertake all the business activities aftercollecting all the relevant data and achieve success in very short span of time. Public sectors2
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