Entrepreneurship: Types, Impact on Economy, and Post-Brexit Growth

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ENTREPRENERUSHIP
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ENTREPRENERUSHIP
Contents
Task 1..........................................................................................................................................................3
P1. A mini research for investigating different types of entrepreneurial ventures and elucidate how they
narrate to the typology of entrepreneurship.............................................................................................3
P2. The similarities and differences between entrepreneurial ventures....................................................5
Task 2..........................................................................................................................................................7
P3. Assessing and interpreting relevant data and statistics in the mini-research for illustrating how
micro and small businesses impact on the economy................................................................................7
P4. Explanation of how important small businesses and business start –ups will contribute to the
growth of the social economy after ‘Brexit’............................................................................................9
Task 3........................................................................................................................................................10
P5. Carrying out a mini-research for determining the traits, skills as well as characteristics of two
successful entrepreneurs, which differentiate them from other business managers...............................10
P6. Assessing how aspects of the entrepreneurial behavior as discussed in P5, reflect entrepreneurial
motivation and mindset.........................................................................................................................12
Task 4........................................................................................................................................................14
P7. With concrete examples obtained through your mini-research, scrutinize how background and
experience can hinder or foster entrepreneurship...................................................................................14
References.................................................................................................................................................16
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ENTREPRENERUSHIP
Task 1
P1. A mini research for investigating different types of entrepreneurial ventures and elucidate
how they narrate to the typology of entrepreneurship.
Each and every business is built upon entrepreneurship. Moreover, in upgraded and developed
companies unrealistic capacities have a tremendous demand. Most of the broad and little
business organizations started a free ramble which is driven by the employees. Here, different
sorts of entrepreneurial attempts are depicted (Seavey, 2009). The particular program helps the
understudies to perceive their calling decisions in private ramble. Besides that, the
Entrepreneurship and Small Business Management is needed to collect entrepreneurial aptitudes
very much requested. Various types of entrepreneurial ventures are discussed below:
Corporate-Level Entrepreneuring
The activity of corporate level entrepreneurial can be delineated as the essential renovation of a
certain plan of recognizing quality units that make up the endeavor (Smilor and Sexton, 2001).
Also, this kind of business activity is popularly known as Corporate Improvement. For example,
Jack Welch 10 understood a total re-trying of General Electric when diverse inspectors predicted
that the general electricity was sound and not needing remarkable change.
Social Entrepreneuring
The entrepreneurs who use techniques based on the involvement of society during a start-up are
known as social entrepreneurs. The total process is known as social entrepreneuring. The
particular concept can be applied to a variety of companies with difference in aims, objectives,
sizes as well as beliefs. Besides that, during the time of profit-making, the social entrepreneurs
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ENTREPRENERUSHIP
support the cultural and social objectives of the company but not as an end in itself. Apart from
these, during the year 2010, the social entrepreneurs was facilitated by the utilization of the
internet such as social media website and social networking. Today, each and every
organizations are using social networking sites as a promotional tool for the company (Special
Issue ofJournal of Social Entrepreneurship, 2012).
Enterprise-Level Entrepreneuring
The activity of Enterprise-Level Entrepreneuring is a full reconsideration of the purposes behind
which the business firm exists (Seavey, 2009). An illustration of boundless business level
entrepreneurial activity is showed up in the way in which the March of Dimes retitled its
inspiration and brightening of the organization behind being after the Salk polio inoculation
acting authority made its character with finding a cure for polio outdated. Its development is
called for when the objectives for which the organization exists observe the chance to be
generally seen as either being unattainable or old.
Small Business Entrepreneuring
The individual who is engaged with small business is known as a small business entrepreneur
and the method by which he or she is operating his or her own business is known as small
business entrepreneuring. Small business are hairdressers, travel agents, internet commerce,
carpenters, plumbers, electricians, consultants and so on (Special Issue ofJournal of Social
Entrepreneurship, 2012). Moreover, these entrepreneurs hire local employees or members from
their own family to work in the business. Most of small business are barely profitable. Aside
from, their definition of success is to feed the family as well as make a profit. Small business do
not have the aim to take over large companies or to accomplish competitive advantage.
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