Entrepreneurship Research and Studies

This assignment requires a comprehensive analysis of entrepreneurship research studies, including topics such as national systems of entrepreneurship, women's entrepreneurship, and international entrepreneurship research in emerging economies. It also involves examining the impact of entrepreneurship education on entrepreneurial attitudes and intention, as well as the role of social capital in entrepreneurship. The assignment is likely from a business or management course and requires students to critically evaluate various studies and provide a detailed summary.

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
P1 Different types of entrepreneurial ventures and relationship with typology of
entrepreneurship..........................................................................................................................3
P2 Similarities and dissimilarities between entrepreneurial ventures........................................4
TASK 2............................................................................................................................................5
P 3 Impact of small and micro business on economy.................................................................5
P 4 Contribution of small business and business start-ups in economy development after
Brexit ..........................................................................................................................................7
TASK 3............................................................................................................................................9
P5 Characteristics,traits and skills of two successful entrepreneur ............................................9
P6 Impact of entrepreneurial motivation and mindset..............................................................10
TASK 4..........................................................................................................................................11
P7 Background and experience utilisation in entrepreneurship whether foster or hinder........11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Entrepreneur is a person who take business and financial risks in the expectation of
profit. He is generally seen as innovator, source of new idea, and producer of different goods and
services for customer. An entrepreneur is a person who rather working under some other person
start their own business after analysing all risk and rewards of the same. Entrepreneurship is the
process of designing, creating and launching a new business idea which was very small in
starting phase By the help of entrepreneurship business can help in removing adverse situation of
the nation. He needs creativity and innovation to stand different from existing undertaking
(Cooper and Folta2017).
This report states different entrepreneurial ventures and types of entrepreneurship along
with the discussion on similarities and differences among them. Thereafter it will also highlight
the small business and their impact on the development of the economy. Along with this the
given study will reflect upon the two successful entrepreneur as how they are different from
managers.
TASK 1
P1 Different types of entrepreneurial ventures and relationship with typology of
entrepreneurship.
Entrepreneur is the person who have the skill and knowledge on the basis of which he
take initiative to convert current ideas into future needs. Business venture is opened after taking
risk to earn profit. An entrepreneurial venture start from idea generation and move to
commencement of business and sales and marketing strategies to grow.
Entrepreneurship is not undertaken for only earning profit it also takes place to success
and growth of the business. He or she explore different opportunities after bearing risk (Aldrich
2017). They start business with small amount and limited resources to satisfy their basic needs.
Types of entrepreneurial venture are as follows-
Small business ventures: This ventures are started from the small amount because of the
presence of limited resources. Funds are gather by taking loans from friends,family to satisfy the
basic needs. For example-utensils shop and grocery shop which are generally very little in
nature. They start business to survive and fulfil basic needs in the society without concentrated

on earning large amount of profit. The money which they invest in the business is not big so they
have to make proper planning which can gave maximum returns. Customer's get the advantage
of getting variety of products available in different range which further increases their
purchasing power (Meyer,Neck and Meeks 2017).
Social ventures: This type of venture are implemented, to work for the society welfare.
The main aim of these ventures is not earning profit but to fulfil social responsibility. These
ventures are started to provide good lifestyle and better standard of living to people of nation.
They want to solve the problem of the poor people by providing cheaper products.
Typology of entrepreneurship which relate to entrepreneurial ventures.
Copycat entrepreneurship: These entrepreneurs only do copy of policies and strategies
of other successful entrepreneur. Even they imitate their website and business card to become
like them. Individual should switch from copying to following or modelling. They should follow
not copying them by adopting the things which are important for their business.
Research entrepreneurship: They do large amount of research on every situation before
making policies and strategies in the business. They involve in research because they love to
learn and want to do something different from others. Entrepreneurs should learn things and
immediately apply it to the business otherwise they will come in the class of unsuccessful person
who have excess subject matter.
Determined entrepreneurship: These entrepreneur adopt their own policies and plan in
the business not copy others. They are among those persons who can do anything to make their
business successful. Sometimes they should copy others by believing in reality of the market and
modify their thinking of the success (Acs, Autio and Szerb 2014).
Accomplished entrepreneurship: Person passed through multiple stages of
entrepreneurship and grow a business by following suitable strategies and plan. They solve all
problems of their way and achieve success. Business ideas are adopted on the basis of customer's
need. They use time wisely for the development of the organisation.
P2 Similarities and dissimilarities between entrepreneurial ventures.
Every business has its own needs and want which motivate them to work and achieve success
and growth. Businesses differ on the basis of working style and strategy to achieve and similar
on the basis of satisfying customer needs. Every organisation in the society want to earn high
amount of profit and achieve success but social venture established for providing cheaper

products to the customer to fulfil their need and wants. Both have different style through which
they achieve set goals and targets. They both solve the problem and crises of the customer
(Lande, Mokyr and Baumol 2012).
Similarities and dissimilarities between entrepreneurial ventures are given below in a tabular
form-
Every organisation have some different goal according to which they perform different activities
and strategies in the business.
Differences Small business ventures Social ventures
Goal Small scale venture are incorporated to
earn income and success which
accomplish their basic or daily needs.
They utilise society resources in
enterprise success and to make strong
base.
Social venture is incorporated for the
welfare of the society by providing
cheaper or reasonable product. They
invest society resources in providing
innovate product to them.
Value Small venture want to provide the
qualitative product at low or
reasonable rate so that they can pull
towards the business concern. They
adopt all methods which can make
their business succeed (Butler 2012).
Social venture take all these steps
because they wanted to create a
proper balance between different
social class of society. They bring
poorer people equal to the medium
people by satisfying their needs.
Hence,both the ventures design the policies,plan and strategies in such a way which able
to help to reach towards their own desired target.
Similarities- Both small venture and social venture want to produce and provide the
products which can amend the life and living standard of society. They both want to provide the
job to large number of people and decrease the unemployment rate of the nation. Small and
social are established on the small level with the limited resources.
TASK 2
P3 Impact of small and micro business on economy
This has been observed that the number of small and medium sized companies in United
kingdom are increasing day by day. Government body is also promoting growth and

development of these businesses since it is giving employment to large section of unemployed
people surviving in nation. By getting assistance from governing bodies, lots of women
entrepreneurs are investing their money in building new businesses. For instance, some of the
famous woman enterprisers are Sarah Willing ham, Jo Malone MBE and Holly Trucker who
have started small companies in UK and now are working at national as well as global level.
These females are doing so for earning high sum of profits in return. In addition to this, jobs are
created by them specially for female group. Hence, they become an ideal personality for women
and thus are motivating other youngsters to join them so that their commerce can be expanded
effectively in minimum period of time. Moreover, these types of events are also contributing in
developing economy of whole nation. Besides this, innovational products and services are being
manufactured by them which is improving the standard of surviving of people living in society
(Bruton and et. al., 2015). Most of the entrepreneurs are having innovative opinions and ideas of
running commerces , thus they are able to draw attention of large number of capitalist or
investors towards their strategies. Hence, overall level of 'Foreign Direct Investment' (i.e. FDI)
of United Kingdom may also enhanced drastically. Hence, it could be depicted that commercial
actions of small and medium sized enterprises are contributing in incrementing GDP of whole
nation. The effect of small business firms on the economical condition of country can be
understand by below mentioned points :
 Impact on region : This has seen that endeavours are conducting their business activities
in various areas of nations. Thereby offering better quality of goods and services at
affordable prices to people of those regions. But it is to be noted that such company
would be impacted negatively by different factors such as governance, external elements,
etc (Gedajlovic and et. al.2013).
 Effect on local civilians : By starting business at regional level, entrepreneurs are giving
job opportunities to large number of local masses. This in turn assist them in earning
adequate amount of wealth. Hence, overall percentage of poverty as well as
unemployment can be reduced in effective way.
 Influence on international and national economy : The number of small business owners
are incrementing on regular basis within United Kingdom. This has been seen that these
entrepreneurs are not only doing businesses at national level but are also making tie up
with stakeholders of another countries. Thereby, impacting optimistically on economic

status of UK by paying proper taxes to government. Whereas these are influencing
commerce of other abroad countries in antagonistic way since enterprisers are drawing
monetary value of those nations by establishing their businesses there.
(Source: The Role of Small Business in Economic Development, 2017)
P4 Contribution of small business and business start-ups in economy development after Brexit
Brexit can be defined as exiting of United Kingdom from EU (European Union). This
event was happened on 23rd June 2016. This is to be noted that EU is a club of twenty eight
European nations wherein participated members have given especial means of working together.
On the other hand, government of British find that this is important to leave EU since it was
hampering their traditions, independence, commerces and areas associated with business. This
action of leaving is giving positive implications to SMEs and various another start – ups. In
return, these companies are also catering positive impacts on social economy which can be
cleared by below mentioned points :

 Decrement in level of poverty : Governing bodies of UK decided to provide special
benefits to small business enterprises and are promoting start-up's as they understand that
it will remove poverty from their nation. Thereby, number of small associations are
enhancing as every one wish to start a new business. As a good outcome, government is
receiving proper taxes from those entrepreneurs as well as customers also. Therefore,
acquired wealth is being utilised by higher authorities of nation in reducing poorness
from UK.
 Availability of jobs : Since huge number of firms have been building in UK, this is
increasing the entire quantity of job within society. Now people are capable of doing
business as per their desires because they are having lots of choices. This in turn upgrade
the economic standard of social group (Audretsch2012).
 Minimisation in price : As most of the enterprises are offering similar products and
services to end users. Thus, it is obvious that they are supplying merchandises or facilities
at affordable prices in comparison to some big brands. This as a result also help civilians
in leading a good life.
 Innovation : Small and medium sized venture are giving rise to innovative ideas and
concepts, thereby developing innovative products & services in effectual manner. This
will make easygoing lives of social groups. In addition to this, companies are also able to
build strong customer base since maximum number of people get satisfied by attaining
innovative merchandises.
 Improve relationship with customers : This has been observed that consumers are not
treated well by big firms, if they have not sufficient amount of money, but are wishing to
purchase some luxurious item. On the other hand, these issues are getting removed by the
introduction of small companies in current market place. Business owners of small shops
or outlets are attempting to make healthy relation with their users in order to establish a
good bonding with them. For doing the same, they are giving respect to their customers
even if those person are poor (Burrows2015).
 Adaptability to respond alterations : SME's are creating goods and services according to
the response of users. In fact, these corporations are attempting to satisfy consumers by
responding appropriately to the needs to consumers.

TASK 3
P5 Characteristics,traits and skills of two successful entrepreneur
Entrepreneur is a person who starts its own business after analysing all risk related to
business. Efficient risk give large amount of profit. An entrepreneur has some different skills,
attitudes and vision towards which their actions are directed towards. They grab all opportunities
of the market to achieve its ultimate target. Business idea should be so convincing that it attracts
more people. Successful entrepreneur is one who can perform multiple actives at a time.
Booming entrepreneur have some common characteristic like vision, mission, confidence, risk
taking which make them able to achieve objectives (Jennings and Brush 2013).
Mark Zuckerberg and Walt Disney are the two blooming entrepreneurs on which study is
done to assess their skills and qualities which make them different from others.
Walt Disney full name was Walter Elias Disney. Disney founded the company Walt
Disney company in 1923. He is popular American entrepreneur ,animator and film producer. He
is the reason due to which several development take place in the animation industry. His many
innovations make him popular which include first cartoon with musical sound,full flesh animated
picture and also theme park. His famous innovation is mickey mouse who is known world wide
as culture icon. He have several characteristic and traits which separate from other business
persons.
Accept failure: This is the most important part of the life everyone have to accept it and
move further. No one get success in the first go every entrepreneur get prosperity after passing
through this stage. Walt Disney also fails a lot, his first studio laugh O'gram not able to earn
profit. In which he lost everything his studio equipment and creations. But all this things make
him strong and he created mickey mouse. Manager does not learn from failures.
Risk taking: Risk is the essential part of the business, person who take it go a long way.
Walt never hesitate in his life and carrier to take risk. Due to failed venture he sold his personal
property but still didn't stop trying new things. He takes biggest gamble of his life that is opening
of Disneyland in 1955. Manager never undertake the risk because he is just salaried employee.
Manager never initiates the risk in the organisation because he is just salaried employee
(Kazanjian, Drazin and Glynn 2017).
Self assessment: Person should know what they have or what they need to improve to go
long way. Walt Disney always assessed the things after doing it by checking customer's reaction.

Disneyland once opened Walt personally go to test the ride and taking guest opinions. After
every new innovation he can rest in his laurels but he don't do it. His mind was always think
about wrongful things in order to improve it at initial stage
Mark Zuckerberg full name is Mark Elliot Zuckerberg. He is popularly known for
founding Facebook which is multi billion dollar earning social networking site in may 2004. His
mission is to connect people from the world. He launch Facebook from his university by
convincing students to share and enter own information and photos in it. He and his friend
continuously updating it by adding advance features for the users. mark left his education to
concentrate more on blooming companies to make it big. Some skills and characteristics are
present below which make him successful (Hughes and et. Al 2012).
Vision: Every entrepreneur has some vision towards which their actions are directed. His
vision to connect people with advance communication technique develops best social networking
site. Due to his vision people of different corners of the society get connected at low cost for any
of purpose like business and politics. Manager vision is restricted to the improvement of present
scenario and situation.
Passion: Individual should passionate about the work which they do. Mark passion
towards her work motivate him to innovate continuously and face all difficulties of their path.
During early stages of life he was passionate about making computer programs,communication
tools, which make him successful in later stage. Manager does not have passion towards his
work because he perform all the activities to earn his livelihood.
Learning: Learning should be done on a continuous basis whether from the society or
from educational institution. From his early age he develops many computer programs which
make to learn new things which later develops his business.
Risk taking: Mark believes that until or unless risk not taken dream can't be fulfilled. He
always take risk without having fear of failure because of having back up plans.
P6 Impact of entrepreneurial motivation and mindset.
Entrepreneur characteristic motivates other individual of the society towards their dream.
They provide path to other individuals and businesses through which they are able to achieve
desired outcome. There are some qualities and character which make person successful
entrepreneur (McKenzie and Woodruff 2013).

Failure: Walt Disney always motivated from his failure. Lost of his Oswald, the lucky
rabbit take everything from him like his studio,creation and his animation. All this things make
him strong after his major lost of Oswald,which motivate him for the creation of mickey mouse.
From him individual learn that they should always learn from past bad experiences and use it to
bright the future.
Risk taking: To make dream successful sometimes people take money or lend it which is
also risk taking as nobody know whether they can recover it or not. Disney also take fund from
his brother Roy. Snow white and seven dwarfs was the first film whose marketing campaign take
place after the release which happened in great depression.
Mark also believe in the risk due to which he was able to fulfil his dream project of the
school days. From both of them individual able to learn that they should take risk otherwise they
can't achieve success (Kiss, Danis and Cavusgil 2012 ).
Passion: It means person should do the thing which they love otherwise not able to
achieve success. Mark Zuckerberg is passionate about the software development in such a extent
that he performs that even in his school and after the college as a carrier. From him individual
learned that they should do the work which does not create boredom and not make sleep at night.
TASK 4
P7 Background and experience utilisation in entrepreneurship whether foster or hinder.
Success of entrepreneur depend upon the background from which he or she is coming.
Background create a great effect on the individual life. Due to past experiences people get
motivated to start their own small business and make all possible effort to provide effective
commodity for the welfare of the society. These experience help them to work day and night for
the growth of the business. Less or limited resources directed them towards taking safe decision
for the welfare of the society. Family is the first place from where individual learn new things
and lessons of life. This experience remains with the person throughout his life wherever they
go. Here we discussed about two entrepreneur Walt Disney and Mark Zuckerberg background
and its impact on their success.
Disney born on 5 December 1901 at united states. His childhood was nothing but
pleasant. his father follows a strict discipline which Walt and his brother Roy has to precede it in
their daily life. He found escape from his father cruelty by his drawing. With pen, young Walt

created the world of his own imagination where life is perfect and beautiful, people are always
happy and everything is in the control. At 16, he engage in the red cross society and served world
war people and their drives ambulance which he customized with his drawing. After that he take
his art seriously and start producing the animated film for business. His positive background and
experience in life motivate him to do different from others (Fayolle and Gailly 2015).
Mark Zuckerberg born in white plains,new york. His father was a dentist and mother was
a psychiatrist and he had a three sisters. He learned computer programs in his high school with
his hacker friend Adam D' Angelo where he develops the interest of Microsoft. His father always
motivate him to do new work. To help his father in the office he develops a program. This
program help his dad and his workers in communicating. Due to his parents admiration on his
love to technology make him success.
CONCLUSION
This report states that both business organisation and entrepreneur aim is to contribute
towards country growth and success. From this project,able to know different types of
entrepreneurial venture and similarity and dissimilarity. Every business have different goals or
objectives for which they work. It also states how economy grow after the Brexit situation. This
project discuss about two successful entrepreneurs and how their characteristic and skill motivate
other businesses of the society. It also conducted a deep study how their experience and
background make them successful and work in the arrangement.

REFERENCES
Books and Journals
Cooper, A. and Folta, T., 2017. Entrepreneurship and high‐technology clusters. The Blackwell
handbook of entrepreneurship, pp.348-367.
Aldrich, H., 2017. Learning together: National differences in entrepreneurship research. The
Blackwell handbook of entrepreneurship, pp.5-25.
Meyer, G. D., Neck, H. M. and Meeks, M. D., 2017. The entrepreneurship‐strategic management
interface. Strategic entrepreneurship: Creating a new mindset, pp.17-44.
Acs, Z. J., Autio, E. and Szerb, L., 2014. National systems of entrepreneurship: Measurement
issues and policy implications. Research Policy. 43(3). pp.476-494.
Landes, D. S., Mokyr, J. and Baumol, W. J. Eds., 2012. The invention of enterprise:
Entrepreneurship from ancient Mesopotamia to modern times. Princeton University
Press.
Butler, J. S., 2012. Entrepreneurship and self-help among black Americans: A reconsideration of
race and economics. SUNY Press.
Jennings, J. E. and Brush, C. G., 2013. Research on women entrepreneurs: challenges to (and
from) the broader entrepreneurship literature?. The Academy of Management Annals.
7(1). pp.663-715.
Kazanjian, R. K., Drazin, R. and Glynn, M. A., 2017. Implementing strategies for corporate
entrepreneurship: A knowledge‐based perspective. Strategic entrepreneurship: Creating
a new mindset, pp.173-199.
Hughes, K. D. and et. al., 2012. Extending women's entrepreneurship research in new directions.
Entrepreneurship Theory and Practice. 36(3). pp.429-442.
McKenzie, D. and Woodruff, C., 2013. What are we learning from business training and
entrepreneurship evaluations around the developing world?. The World Bank Research
Observer. 29(1). pp.48-82.
Kiss, A. N., Danis, W. M. and Cavusgil, S. T., 2012. International entrepreneurship research in
emerging economies: A critical review and research agenda. Journal of Business
Venturing. 27(2). pp.266-290.
Bruton, G. and et. al., 2015. New financial alternatives in seeding entrepreneurship:
Microfinance, crowdfunding, and peer‐to‐peer innovations. Entrepreneurship Theory
and Practice. 39(1). pp.9-26.
Gedajlovic, E. and et. al., 2013. Social capital and entrepreneurship: A schema and research
agenda. Entrepreneurship Theory and Practice. 37(3). pp.455-478.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on entrepreneurial
attitudes and intention: Hysteresis and persistence. Journal of Small Business
Management. 53(1). pp.75-93.
Burrows, R. ed., 2015. Deciphering the Enterprise Culture (Routledge Revivals):
Entrepreneurship, Petty Capitalism and the Restructuring of Britain. Routledge.
Audretsch, D., 2012. Entrepreneurship research. Management Decision. 50(5). pp.755-764.