Types of Entrepreneurial Venture Assignment

Added on - 22 Jul 2020

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ENTREPRENEURSHIP
Table of ContentsINTRODUCTION...........................................................................................................................1P1 The various types of entrepreneurial venture...................................................................1P2 Similarities and differences between entrepreneurial ventures.........................................3P3 Micro and small business impact on the economy............................................................5P4 Small businesses and business start-ups will contribute to the growth of the socialeconomy after the Brexit........................................................................................................6P5 Characteristics, traits and skills of successful entrepreneur and difference with themanager..................................................................................................................................7P6 Entrepreneurial personality reflect entrepreneurial motivation and mind set...................8P7 Background and experiences can hinder or foster entrepreneurship.................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTIONEntrepreneurship helps to create the business at the new level with implementation ofvarious innovation in it. In each and every nation it required in the various firms which bring theeffective development and growth to maximise profits. The economy development of the UnitedKingdom is responsibility of these business firms. This view has been supported by countriesthat experienced substantial poverty reduction over the last three decades. Countries like Chinaand the East Asian Tigers are said to have capitalised on this phenomenon to drive economicdevelopment. With these identified benefits, the UK government is promoting the concept andphenomenon for post Brexit economic growth and development. The report will determine thevarious types of entrepreneurial venture and it is also related to the typology of entrepreneurshipand similarity and difference between this entrepreneur ventures. Further, the micro and smallbusiness impact on the economy. Also, the characteristics, traits and skills of successfulentrepreneur explains with difference of the manager.P1 The various types of entrepreneurial ventureEach and every nation has various kinds of entrepreneurial venture and it related to thetypology of entrepreneurship can be discuss below:Small business Entrepreneurship:it is the type of entrepreneur those are focusing onthe profit which makes the concern about the financial condition of the enterprises. In thesmall business enterprises which brings the business into the new level. But they will notget any benefits to modified their business. This business are mostly in the power offamily individual which don't have large manpower in the organisations. The productsthis business individual are offered generally used for daily consumption for the people.The funding of this types of business are not high(Gartner, 2010). They take loans fromtheir friends and family for setting up business.Scalable start up entrepreneurship:This kinds of entrepreneurship are bring newthings in the market. They have high vision to give innovative goods and services tomake set up an effective business organisations. For all start up business, it is difficult tosurvive in the market which required to go ahead as per their vision. As in the London600000 start -up have been started which can be determine by own businessdevelopment.1
Large Firm Entrepreneurship:This are the business have large set up and have properlevel of management structure by various key people in the organisations. Large firmhave various number of goods and services which don't have any new segment so theyadopt strategy of product development under which they offer with the somemodification under the existing goods and services. Large firm entrepreneur will focusmore on the research and development for the various implementations in theorganisations. Mostly the financing will raise for such business by IPO (Initial publicoffering) which will help to grow business with the high investment for expanding theirbusiness in the other sector or the same.Social Entrepreneurship:This types of business are not for earning any profits but theirmain motive is to develop the society by providing various services without any cost.The entrepreneurial discuss above have the various kinds of typology which is related to them.This are discus such as follows:The Sceptical Entrepreneur:This kinds of entrepreneur are debate in every conditions.They raise their finger on positive things done by the other entrepreneur. If anyone havecontributing in their business with dedication and hard work the sceptical entrepreneurwill never appreciate them. They take decision on the basis of their previous experiences.Copycat Entrepreneur:This kinds of entrepreneur are will focus on the similarity ofother venture. The name itself suggest this enterpriser will copy each and everythingfrom the different firms. From the business card to their policy are copy as per thesuccessful business who had already set up their business(De Massis, 2018).Researcher Entrepreneur:This are the entrepreneur which done all the research beforetaking any decision. They have high knowledge and skill of the each and every field dueto lots of excess reading. But they only succeed when they applies all the learning andknowledge at the right time in their business.Determined Entrepreneur:This kinds of entrepreneur don't get success early due tolow contribution in present condition of their business but they have ability to setgoodwill in front of others.2
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