Report On Types Of Entrepreneur Ventures & Typology
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Added on 2020-02-05
Report On Types Of Entrepreneur Ventures & Typology
Added on 2020-02-05
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ENTREPRENERUSHIP
Table of ContentsINTRODUCTION...........................................................................................................................3Task 1..............................................................................................................................................3P1 Different type of entrepreneurial ventures and the typologies uses for entrepreneurship.....3P2 Similarities and differences between entrepreneurial ventures.............................................4Task 2..............................................................................................................................................6P3 Contribution of small business and small start-up towards the growth of the socialeconomics benefits......................................................................................................................6P4 Explain how important small businesses and business start –ups will contribute to thegrowth of the social economy.....................................................................................................8Task 3..............................................................................................................................................9P5 Determine the characteristics, traits and skills of successful entrepreneurs, whichdifferentiate them from other business managers.......................................................................9P6 Assess how aspects of the entrepreneurial personality reflect entrepreneurial motivationand mind-set..............................................................................................................................10Task 4............................................................................................................................................11P7 Examine , using relevant examples obtained through your mini-research, howbackground and experience can hinder or foster entrepreneurship. ........................................11CONCLUSION.............................................................................................................................12REFERENCES:.............................................................................................................................13
INTRODUCTIONEntrepreneurship defined as the process of designing and lunching running a newbusiness which is typical start as a small businesses like a start-up company offering a productprocess or services for sale. People who do these small businesses are called entrepreneur.Entrepreneurship is typically focus on the lunching or running a new businesses. Entrepreneurdefined as a person who start a new businesses and organise, manages all his business activities(Bosma and Levie, 2010). A entrepreneur seen as a business leader and innovator. In this reportdifferent types of entrepreneur venture and how they use different type of typology use in theirbusinesses are defined. further the impact of small businesses and small enterprises on UKeconomics is discussed. The personality of entrepreneur is determine in this report.Characteristic of mini researches determine the skills of entrepreneurs and differentiate thebusiness from each other. A practical example is given in this report to describe how the miniresearch foster the entrepreneurship. Task 1P1 Different type of entrepreneurial ventures and the typologies uses for entrepreneurshipIn entrepreneurship organisation format used to establish a new venture and it isaccording to several factors like people, legal and tax consequence, social and cultural norms.There are many legal and forms that entrepreneur employ to achieve their objectives. The newventures can be range from small business and consulting services to high growth and high-impact enterprises. A important contrast for these new ventures is the corporate new ventures.The Important social enterprise are establish as the non-profit ventures. There are also tow formsalso which include the family owned business and franchises (Bruton, Ahlstrom and Li, 2010).The other organisation start to operating in the niche market and grows into broader one. The different types of entrepreneurship:Small business entrepreneurship: in UK there are overwhelming number of enterprises and start-ups for small businesses. Theses enterprises provide 99 percent employment to people whicharec not included in government.1.Small scale entrepreneurship: In small scale business it include grocery stores,consultant , travel agents, internet commoners store front, hair dresser, plumbers,electrician. They all run their own business. They hire local employees and family
members in their businesses. The main aim of their success is to make their family happyand make a profit not to take over the industries . The small industries can provide a scaleto attract the venture capital . They fund their business through family, friends and smallbusiness loans. 2.Scalable start-up Entrepreneurship: The entrepreneur of scalable star-up starts acompany knowing from day one that their vision could change the world. Theseentrepreneur attract the financial inverters and venture capitalists for their investment inbusinesses. These entrepreneur hire the bast and the brightest employees. Their job is tofind out the effective and scalable job model for business (Dacin, Dacin and Matear,2010). Their main focus on scale require even more venture capital to flue rapidexpansion.3.Large company Entrepreneurship: The large companies have the effective life cycle.Most of the large companies grow through sustaining innovations they offers newproduct which are variants around as their core products. Changes in customer taste,introduction of new technologies legislation, entrance of new competitors can createpressure for more innovation require large comprises to create new products sold intonew market to new customer. 4.Social entrepreneurship: The focus of social entrepreneurs on creating the products andservices that solve social needs and problems. The main goal of social entrepreneurshipis to make the world a better place not to make the market share or to create the wealthfor the founders. The may be non-profit ,for profit . The main aim of socialentrepreneurship is to crate the social services.P2 Similarities and differences between entrepreneurial venturesThe difference between small scale business managers and large entrepreneurs candifferentiate according to the scope of their work. The entrepreneurs role occurs n a shorter spanof business lifetime and the managers role occurs over a long time. EntrepreneurshipA entrepreneur a risk taker and he is willing to the steps whatever are necessary to launcha new venture. Entrepreneur finds the business idea, studies the market, identifies the customersneed wants and implement the new ideas or plans to offer the ideas to the target market(Defourny, and Nyssens, 2011). The entrepreneur job has also requires to being able to allocate
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