Entrepreneurship Research and Analysis
Added on 2020-01-16
14 Pages4738 Words196 Views
Entrepreneurship
|
|
|
ENTERPRENEURSHIP
Table of ContentsENTERPRENEURSHIP..................................................................................................................1Introduction......................................................................................................................................3TASK1.............................................................................................................................................3P1) Types of entrepreneurial ventures and their relation with typology of entrepreneur......3P2) Similarities and difference between entrepreneurial ventures.........................................4M1 ..........................................................................................................................................6D1...........................................................................................................................................6P3) Impact of micro and small business on the economy......................................................6P4)Importance of small business in the social economy growth after “ Brexit”....................7M2...........................................................................................................................................8D2...........................................................................................................................................8P5) Traits and skills of two successful entrepreneurs which differentiate them with otherbusiness managers..................................................................................................................9P6)Motivation and mindset of Bill Gates and Mark Zuckerberg.........................................10M3.........................................................................................................................................11D3.........................................................................................................................................11P7) Background and experience foster entrepreneur............................................................11M4.........................................................................................................................................12D4.........................................................................................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13Books and Journals...............................................................................................................13Online...................................................................................................................................14
IntroductionEntrepreneurship is an act where an individual sets up a plan of business, taking a lot of risk andwith innovative ideas hoping for the high profits. It is basically a process in which a persondesigns, launches and try to run the business in a different manner. The person here is a high risk taker and has innovative and creative ideas. The person issaid to be as an entrepreneur. With his different ideas and opinion he starts the business and runthrough proper management and strategies to accomplish the goals of the enterprise (Drucker.,2014. ). He is considered as a business leader with the skills of innovative ideas and risk bearingmind set.TASK1P1) Types of entrepreneurial ventures and their relation with typology of entrepreneur.Entrepreneurship is the capability of the entrepreneur to do all the management functionlike planning organising, staffing, directing and controlling a business and also have the capacityto bear the high risk factor with new and innovative ideas. The major factor that differentiatemanager and entrepreneurs are the risk and the innovation factor that are an entrepreneur has anda manager don't.Types of entrepreneurial ventures-1.Small business entrepreneurship- Small business such as the consultants, grocerystores, electricians, plumbers etc. All these are the people who run their own business.They people working for them are the locals or are the members of the family. Theseentrepreneurial ventures are operated as with the objective of the fulfilment of the basicneeds of the family. As the plan of the business is in small scale hence the funding of thebusiness is carried out with the members of the family, relatives and friends (Kirzner.,2015.).2.Scalable Start up Entrepreneurship- These are the kind of venture where the firm isknown to all from the day one and their visions are very unique and it will shake thewhole world. It present the ideas in such a way that the investors get attracted to thebusiness plan of the entrepreneurs.3.Large company entrepreneurship- This type of venture have long cycle of life. Theygrow through innovative ideas and developing new products and providing various
benefits in the basic product of the enterprise. The company may face tough competitionby the new entrance hence with more innovative ideas or with the help of mergers andacquisitions the firm can sustain in the competitive market.4.Social entrepreneurship- these enterprises focuses on the needs of the society. Theproducts and the services are created in new and innovative way so that the customerswill be able to gain the social benefits (Herrington and et. al., 2010.).Typologies and its relation with entrepreneurial venture.1.Research entrepreneur- The entrepreneur here is a type of learner. He always wishes tolearn new things. They do all the possible things to grow the business. The person shouldlearn and also has to implement the learned ideas and thoughts. Large companyentrepreneurship ventures do all the research part so as to sustain in the market and togrow the firm.2.Determined entrepreneur- These are the people who are very determined toward theirwork. They aim to attain the objectives and try the best to sustain in the market. Everysuccessful person has a story of determination. Scalable start ups entrepreneurship aredetermined on their task a lot.3.Accomplished entrepreneurs- Here the entrepreneurs are very stable and has faced allthe challenges and got finally stabled in the market. P2) Similarities and difference between entrepreneurial ventures.Types of entrepreneurship ventures.Similarities Differences Small business and scalable start upsGoal- Both the entrepreneurial ventures focuses on the generation of the maximum profit out of the investment done by them (Barringer., 2012. ). As they are risktakers they hopes for high returns aswell according to the presence of therisk factor. Objectives- Scalable want to make impact over the prospect in large scale. Where are smallbusiness support itself to fulfil the basic needs of the family.Strategies- Scalable has the objective to identify all the related business models and to
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Entrepreneurial Traits: The Key to Successlg...
|12
|6064
|152
Entrepreneurship & Small Businesslg...
|18
|5713
|26
Entrepreneurship Education and Rural Developmentlg...
|13
|5156
|55
Entrepreneurship and Small Business Managementlg...
|11
|2485
|357
P1. Different types of entrepreneurial ventures and the typologylg...
|22
|7069
|309
Entrepreneurs and Small Businesslg...
|14
|3903
|27