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Characteristics, traits and skills of successful entrepreneurs

   

Added on  2020-06-03

14 Pages4490 Words148 Views
ENTREPRENEURSHIP

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Types of entrepreneurial ventures and their typology...........................................................1P2 Similarities and differences between entrepreneurial ventures.............................................3TASK 2............................................................................................................................................5P3 Impact on economy by micro and small business.................................................................5P4 Importance of small and start-up business to make contribution in the social economygrowth.........................................................................................................................................6TASK 3............................................................................................................................................7P5 Characteristics, traits and skills of two successful entrepreneurs which possess differentqualities from other managers of the organisation......................................................................7P6 Reflect of entrepreneurial motivation and mindset................................................................9TASK 4............................................................................................................................................9P7 How background and experience can hinder and foster entrepreneurship............................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTRODUCTIONEntrepreneurship is the effective program through business gets new things, creativity,innovation, etc. With this regard, people will get several opportunities such as enhancingstandard of living, job opportunities, etc. at workplace. Therefore, country has benefit to increasetheir growth and GDP through innovative businesses. Further, it also helps to determinesproductivity in the organisation (Martin, McNally and Kay, 2013). In this regard, the presentreport based on Talon Outdoor which is small sector enterprise of UK. The company wants tocreate their operations and functions innovative so that they are able to make it large business.Therefore, report focuses on the different kinds of entrepreneurial and their typology in themarket. Furthermore, it covers importance of the small and start-up business enterprises in UK.Moreover, it includes reflect of the mindset and motivation on the business operations. At last, itdiscuss about the hinder and foster of entrepreneurs in the chosen organisation. TASK 1P1 Types of entrepreneurial ventures and their typologyEntrepreneurship is the important activity that assists to meet with effective goals andobjectives of the business that create uniqueness. In this regard, individual plan to start newbusiness or create something new that helps to earn more money in the enterprise. With this way,individual perform their functions which termed as the entrepreneurs (Rawhouser, Cummingsand Newbert, 2017). Therefore, following are different ventures exist that could be engaged inthe organisation to develop effective functioning at workplace:Small business entrepreneurship: These kinds of entrepreneurship ventures determinessomething unique characteristics which assists to influence customers towards thebusiness operations and functions. As results, it is important for each person to plan theirbusiness and start it through assess market competition because there are several othersame businesses are exists in market (Schaper, Volery and Gibson, 2014). There aredifferent kinds of enterprises included such as barber shop, grocery, plumbers, etc. Allthese kinds of organisations require high skills and capabilities with involving innovativeideas and processes. It also helps to earn high profits and revenue in systematic manner.It can be influence to the small enterprises that are carried in UK and wants to increaseshare and profitability at workplace. In addition to this, government also provide1

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