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Characteristics, traits and skills of entrepreneurs in the economy

   

Added on  2020-01-07

14 Pages4527 Words251 ViewsType: 251
EntrepreneurshipProfessional DevelopmentPolitical Science
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ENTREPRENEURSHIP
Characteristics, traits and skills of entrepreneurs in the economy_1

Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1 Different types of entrepreneurial ventures and typology of entrepreneurs..........................3P2 Similarities and differences between the entrepreneurial ventures........................................5TASK 2 ...........................................................................................................................................6P3 Micro and the small businesses impact on the economy.......................................................6P4 Importance of small scale businesses and the start ups in the growth of the economy.........7P5 Characteristics, traits and the skills of the entrepreneurs ......................................................8P6 Entrepreneurial personality reflect the entrepreneurial motivation ....................................10P7 Experience and background can foster and hinder the entrepreneurship.............................11CONCLUSION..............................................................................................................................12REFERENCES .............................................................................................................................12
Characteristics, traits and skills of entrepreneurs in the economy_2

Characteristics, traits and skills of entrepreneurs in the economy_3

INTRODUCTIONThe entrepreneurship means the willingness and the capacity to create the businessventure with the risk for earning the profit. The entrepreneurship is the combination of thelabour, land, natural resources and the capital from which the profit can be produced. And thebusiness started from the small scale business like the start-up business. And the person whostarts and develops this business is known as entrepreneur. The new business is started from thesmall scale because there is less risk in the small scale business (Drucker,2014). Theentrepreneur can be the leader and they are innovative and the creative. They brings the newbusiness ideas and apply on the business for the development. There are different types of theentrepreneurs. The individual can start the business and can with the group and theentrepreneurial ventures invest in the start up business for earning the profit. The entrepreneurdevelop the new ideas which are related to marketing the products and selling the products.TASK 1P1 Different types of entrepreneurial ventures and typology of entrepreneursThe entrepreneurial ventures are of different different types. These entrepreneurialventures are the:Managed growth venture- In this type of entrepreneurial ventures the business ismanaged the growth (Welter, 2011). And it works on the increase the growth rate and theproductivity of the company. The growth rate is increased by develops the new products, bymaking the new market strategies, by changes in the price rate of the products and in the servicesand also increase the facilities. This all happen to entering the the new market.Lifestyle venture- In this type of entrepreneurial venture the fix criteria is set for theselection of the local firms which are old and those firms are less than five years with thelocation of the one or two and the lifestyle ventures focuses on the improving of the localmarkets and from it the performance level of that markets are increased and they will maintaintheir current operations.Survival venture- In this types of venture, it is posed the difficulties. These ventures arewanted to create the income from the entrepreneurs and also from the entrepreneurial activities.
Characteristics, traits and skills of entrepreneurs in the economy_4

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