Unit 9. Entrepreneurship and Types of Ventures : Assignment

Unit 9
ENTREPRENEURSHIP

TASK 1............................................................................................................................................3
P 1- Different types of entrepreneurial ventures and their relationship with the typology of
entrepreneurship..........................................................................................................................3
P 2- Exploring differences and similarities between different entrepreneurial ventures............5
TASK 2............................................................................................................................................6
P 3- Assessing and interpreting the impact of micro and small businesses on the economy.....6
P 4- Importance of small businesses and business start -ups in the contribution to growth of
social economy after Brexit........................................................................................................7
P 5- Determining the characteristics, traits and skills of two successful entrepreneurs, which
differentiate them from other business managers.....................................................................10
P 6- Assessing aspects of entrepreneurial personality in reflecting entrepreneurial motivation
and mindset...............................................................................................................................12
TASK 4..........................................................................................................................................13
P 7- Impact of background and experience in hindering and fostering entrepreneurship.........13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

Entrepreneurship is the business which started by entrepreneur by using creative and
innovative mind. These entrepreneurs have spirit to achieve their needs and objectives of their
business very efficiently. This venture gets started by the vision and idea of single person. This
report includes about the different types of entrepreneurial ventures and how they relate to the
typology of entrepreneurship (Abrams, 2017). Similarities and differences between these
entrepreneurial ventures will be discussed. Impact of small business on the economy is analysed.
Importance of small business and business start-ups will contribute to the growth of the social
economy after Brexit. Characteristics, traits and skills of successful entrepreneurs which
differentiate
TASK 1
P 1- Different types of entrepreneurial ventures and their relationship with the typology of
entrepreneurship.
There are many types of entrepreneurial ventures with the relation with entrepreneurship
typologies. These ventures are different from each other by their sizes and working styles.
Entrepreneurial ventures use their own innovation and creation in their business operations to be
successful in the market (Desai, 2013). Entrepreneur is the person who come up with effective
and innovative idea that help him in settling new business and running them.
Various entrepreneurial ventures and their relation with typologies of entrepreneurship are as
follows:
 Large entrepreneurial ventures- These ventures deal within the large sector. Their main
aim is to attract more and more customers towards them. Large entrepreneurial ventures
time to time launches new and innovative products in market to ensure the sustainable
business performance. They select the segment which have large customer range. These
ventures want to earn more profits by providing products and services to all their
customers. Large entrepreneurial ventures help in making the uncertain economy stable
by continuously providing innovative products and services. These types of ventures are
great for the economy of country. They are profitable organisations which earns profits
and use them again in further development of the company.

 Small entrepreneurial ventures- These entrepreneurial ventures deal with the small range
of customers (Etzkowitz and Zhou, 2017). Small ventures have minimum amount of
capital to invest in the business. Owner of these organisation works very hard to increase
their revenue by selling products and services to the small segment of customers. They
start their business at very small level and efficiently work to make it successful in the
market. There are many small entrepreneurial ventures working in the UK which make
the economy of the country stable. Small ventures deal in fewer business operation, but
they are very helpful in stability of uncertain economy. This states that they contain
importance very much for the economy of the nation.
 Social entrepreneurial ventures- Social entrepreneurial ventures can be either profitable
and non- profitable organisation. They work in the direction of welfare of the public.
They want to solve the problems which are faced by the people socially. They are also
called voluntary organisation (Fayolle, 2013). These ventures want to make safe and
secure environment in the country. They offer that product and services which are helpful
for their customers and solve their problems. Social entrepreneurial ventures help the
country in increasing their reputation in the whole world.
 Scalable start-up entrepreneurial ventures- These types of ventures are profitable
organisations who wants to be successful in the market. They provide quality products
and services to their customers and makes them satisfied. They want to have development
and have the strong brand name in the market. Scalable start-up entrepreneurial ventures
bring many innovations in their business for the further growth in the market. They are
new organisation who wants to start their business to grow and develop. These ventures
are also helpful for in making the economy of UK stable because they are the new start-
ups.
Entrepreneur typology
Female entrepreneur: This type of enterprise is run by women. They are the one who is
responsible to come up with innovative idea that can help her in establishing their business.
Male entrepreneur: In this its male who establish new business and is responsible to carry out
various function and necessary decision necessary for the growth of the firm.
These are different types of entrepreneurial ventures which differs from each other by
their working styles and business operations.