Types of Entrepreneurship- Report

Added on -2020-02-17

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Entrepreneurship and SmallBusiness Management1
INTRODUCTION Entrepreneurship is the concept which shows the capacity and willingness to develop,organize and manage a business venture along with any of its risks in order to make a profit.Example of entrepreneurship is starting of new business by a person in order to make profits onits own. It is basically a process of designing, launching and running of new business , whichtypically starts as small business, which offers a product, process or service for sale or for hire(Berglund, Johannisson and Schwartz, 2012). The persons who do so are called entrepreneurs.Entrepreneurship typically operates within an entrepreneurship ecosystem which often includesgovernment programs and services that promotes entrepreneurship and supports also. Smallbusiness management means to control and manage the operations of small business. Smallbusiness have impacted the economy in many ways. In context of entrepreneurship, it is said thatit is beneficial for economic growth and development. In this present report,different types ofentrepreneurship has been discussed along with the similarities and differences betweenentrepreneurial ventures. Also, it is said that small business enterprises contributes to the growthof economy. Entrepreneurs are different from business managers in skills, characteristics as wellvarious traits.TASK1 P1 Different types of entrepreneurial ventures and their relationship with typology ofentrepreneurshipEntrepreneurship has been defined as a process of designing, launching and running anew business, which typically begins as a small business, such as start up company. It alsoincludes offering a product, process or service for sale or hire. The people who start the businessare known as entrepreneurs (Bridge and O'Neill, 2012). It has been assessed thatentrepreneurship is the capacity and willingness to develop, organize and manage a businessventure with any of its risks to make profit. Entrepreneurship basically involves identifyingopportunities and evaluating them in the best way possible and then decide to exploitopportunities by making new products and services or launch new industry or firms so thatwealth is created by them. There are 4 types of entrepreneurial ventures in the present era that areas follows:4

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