What makes an entrepreneur?

What makes an
entrepreneur?

Table of Contents
Executive summary..........................................................................................................................1
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1 Different types of entrepreneurial ventures and how the relate to the typology of
entrepreneurship..........................................................................................................................1
2 Similarities and difference between entrepreneurial ventures.................................................4
3 Diverse range of entrepreneurial ventures to understanding of entrepreneurship in both the
public and corporate sector.........................................................................................................6
4 Examine the scope, development and growth of entrepreneurial ventures..............................7
RECOMMENDATION...................................................................................................................7
REFERENCES................................................................................................................................7
INTRODUCTION...........................................................................................................................9
TASK 3............................................................................................................................................9
1 Characteristic traits and skills of a successful entrepreneur that differentiate them from other
business managers.......................................................................................................................9
2 How aspects of the entrepreneurial personality reflect entrepreneurial motivation and
mindset......................................................................................................................................10
3 Entrepreneurial characteristic such as are entrepreneurs born or made.................................11
4 How background and experience can hinder or foster entrepreneurship...............................11
5 Link between entrepreneurial characteristic and the influence of personal background and
experience to specific entrepreneurs.........................................................................................12
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................12
.......................................................................................................................................................13

Executive summary
Current scenario is related with the entrepreneurship. An entrepreneur is that person
which have an ability and skills to conduct or run in a successful manner. Person bring new ideas
as well as innovation in order to make things better or more attractive. In this they bring
innovative ideas and ways for making higher profitability in market place. With the help of this
they easily invite larger number of customers towards new ideas which may contribute in
enhancing positive image of the firm. There are various kinds of entrepreneurial ventures and
also their typologies are different from the each other.
INTRODUCTION
Entrepreneurship is an effective process to develop, manage and organize a new venture
with the purpose of make a profit. A person who run and start a new business by taking risk is
called as entrepreneurs. Along with this, it also contribute in developing economic growth of the
nation by providing employment to local people (Lortie and Castogiovanni, 2015). This section
discussed about various types of entrepreneurial ventures and relation to the typology of
entrepreneurship. In addition of this, similarities and difference between entrepreneurial ventures
are also mentioned in this section.
TASK 1
1 Different types of entrepreneurial ventures and how the relate to the typology of
entrepreneurship
Entrepreneur:
Individuals who develop new and innovative ideas with the purpose of running a new
business activities. In this, they also take risk in order to convert into higher profitability. In
addition of this, they also contribute in enhancing overall performance by implementing new
activities. With the help of this, they earn more revenue and order to enhance their market share.
Entrepreneurial ventures:
It defines as an organisation that focus on developing business activities for attaining
positive outcomes as it also contribute in economic growth of the nation. In this context, person
who start a business by bringing new and innovative ideas in order to attain higher success at
market place is known by entrepreneur (Hunt, 2015). One of the main aim entrepreneurial
venture is to provide employment opportunities to local people in which they improve their
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living standard. Mainly, entrepreneurs take risk for generating profits for attaining success at
market place.
Types of entrepreneurs:
Serial entrepreneurs are the person who implement new and creative ideas to run a new
business in market place. Mainly, this type of entrepreneurs come up with innovative ideas to
improve performance of the new business (Kautonen, Gelderen and Fink, 2015). Along with this,
they also undertake profitable venture and give their responsibilities to another person. After that
the move on to a new venture by bringing lots of unique ideas.
Social entrepreneurs are those people who work for society because the aim of social
entrepreneurs is to establish their business for providing better solution to resolve social issues.
One of the main purpose of those people is to solve community problems in order to enhance
economic condition.
Female entrepreneurs consist of women who applies feminist values with the purpose
of improving the well-being of girls. Along with this, they also manage as well as organize
whole business activities by accepting challenges to become a more independent. In addition of
this, they having minimum financial interest of 51% of capital. Approx. 1/3rd entrepreneurs are
women in the world.
Concept of entrepreneurship:
This concept refers to an effective process which define decision making, innovation and
various things that contribute in establishing a new business organization with the purpose of
generating higher profitability. Along with, it is also evaluate various opportunities through
which an entrepreneurs can take high risk for converting into financial gain. In this the main
main of entrepreneurship is to produce as well as offer creative services which help in grabbing
customers attention. This will contribute in enhancing the chances of attaining success at market
place.
Key ventures of entrepreneurship:
Small business is an entrepreneurship venture which operate at small scale with small
financial funds. In today's time, number of small business are present in UK market and the main
aim these type of business is to generate larger profitability. Mainly, it also impacts on economic
growth of the country (Roig-Tierno, Alcazar and Ribeiro-Navarrete, 2015). As it includes less
than 50 employees who support in business to run its activities. In addition of this, it also
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