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Similarities and Differences Between Entrepreneurial Ventures PDF
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Added on 2020-12-09
Similarities and Differences Between Entrepreneurial Ventures PDF
Added on 2020-12-09
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Entrepreneurship
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1. Examining different entrepreneurial ventures and their relation with the typology ofentrepreneurship..........................................................................................................................1P2 Similarities and Differences between Entrepreneurial Ventures...........................................2TASK 2............................................................................................................................................4P4 Importance of contribution by SME towards the society and Economy...............................7P5 Determining the characteristics, traits and skills of two successful entrepreneurs................8P6 Entrepreneurial personality striking their state of mind and motivation.............................10TASK 3..........................................................................................................................................10P7 Experience and background can surrogate and obstruct entrepreneurship..........................10CONCLUSION ............................................................................................................................11REFERENCES................................................................................................................................1
INTRODUCTIONConcept of entrepreneurship is complex yet simple in nature and this is mainly beingdone with the purpose of earning financial security and thus this is the reason process of businessis being started. Main focus of entrepreneur is upon bringing innovation and manufacturing newkind of products and services for the customers for gaining competitive advantage (Baum, Freseand Baron, 2014). Giving out new kind of experience is the major motive and thus by this theyare able to attain growth and success. There are number of things which will be discussed withinthis report like having tools and techniques which can be used for exploring various kind ofentrepreneurs within economical sector. There are various kind of factors which in turn canmainly affect the entrepreneurship in negative manner. TASK 1P1. Examining different entrepreneurial ventures and their relation with the typology ofentrepreneurshipAn entrepreneur is the one who mainly supplies the risk capital and thus mainly monitorsand thus control the business activities. Entrepreneur can be found in many forms like sole
proprietor, a partner or the one who majorly owns the majority of shares within incorporatedventure. In marketplace, there are mainly four types of entrepreneur ventures which areestablished when business is being started: Small business Entrepreneurship: There are numerous entrepreneurs within currentsituation who are trying to enter within market of United kingdom by setting up of newkind of businesses. In market of UK, there are mainly about the 5.7 million smallbusiness which in turn has almost area of 11.7% of the business. This has led tominimising the unemployment rate which has almost covered the 50% of nongovernmental workers (Bhachu, 2017). There are various examples of this kind ofbusiness like grocery stores, agencies, wood store and the electricity products and theseare being done with motive of getting financially secured and fulfil the basic needs. Forthis case, typology which can be linked is the fulfilling the basic needs and financiallysecured. Scalable Start up Entrepreneurship: In this kind of style, entrepreneur mainly starts thebusiness with the aim of bringing change within the social and economical factors byattaining vision. It is highly needed to have various kind of resources in order to makethe business and vision successful and thus for that investors are being seek out byentrepreneur who shares the same kind of mindset. Besides this, it Is highly necessaryto have high level and experienced employees to work upon the vision. This kind ofplanning and taking effectual steps can lead to attain growth and success. Typologywhich is being related is the implementation of aggressive growth ventures. There arenumerous kind of factors which are highly involved within the process ofentrepreneurship and they highly focus upon the completing the objectives by takingout the skills and abilities by developing in better mode. Large Scale Entrepreneurship: In this sort of enterprise style, business is significantlybeing directed on substantial scale as they are being shaped with enormous measure ofstore. There are different strategies and instruments which are being used to pick updevelopment and achievement and those systems can resemble advancement in newsort of items, utilizing most recent advances and perceiving the example of rivalry. Theprinciple focal point of business person is on deciding and examining the genuine needsand wants of clients inside commercial centre and in this way fulfilling them in most
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