Entrepreneurial Ventures: Types, Similarities & Differences - UKCBC

This report provides an overview of entrepreneurship and small business management, focusing on different types of entrepreneurial ventures, including private, public, and social enterprises. It differentiates between entrepreneurs and intrapreneurs and explores the similarities and differences between various ventures based on their roles, characteristics, objectives, and size (micro, small, medium). The report also touches upon the typology of entrepreneurship, the importance of innovation, and the competitive landscape. It concludes by highlighting the key aspects of entrepreneurial ventures and their impact. The assignment solution is available on Desklib, a platform offering a wide range of study resources for students.

ENTREPRENEURSHIP AND SMALL BUSINESS
MANAGEMENT

TABLE OF CONTENTS
 INTRODUCTION
 MAIN BODY
 CONCLUSION
 REFERENCES

INTRODUCTION
• Entrepreneurship refers to the activity of establishing a new business by taking financial risk and the major
objective behind taking such risk is to maximize the profits.
• Entrepreneur is the person that take risk of staring a new venture for maximizing the revenue and responsible
for launching the new product or service.
• The presentation will outline various types of entrepreneurial ventures and typology of entrepreneurship. It
will also describe the similarities and differences between various types of entrepreneurial ventures.
• It will also outline entrepreneurship in public sector, growth of entrepreneurial ventures in UK.

ENTREPRENEURSHIP
Entrepreneur
Entrepreneur is the individual who used to set up entrepreneur venture by taking up an financial risk
with the hope of earning good sort of the profit from the market.
Entrepreneurship
Entrepreneurship is the process which generally looks to established the new enterprises by taking variety
of the risk and also major objective behind taking variety of the risk is to maximize the profit.
Process of setting up of enterprise venture is known as Entrepreneurship.
Entrepreneur Venture
Entrepreneur venture is define as a organization or enterprise that is set up by the entrepreneur, who
used to offer innovations and opportunity in order to produce economic as well as social value.

DIFFERENTIATE BETWEEN INTRAPRENEURS AND
ENTREPRENEURS
30/03/
19
Basis Intrapreneur Entrepreneur
Meaning Intrapreneur is a person who is the
employee in enterprises who is in charge
of undertaking innovation.
Entrepreneur is the one in the
organization who used to set up his own
business with a new idea or concept.
Risk They generally do not used to take any
type of risk in related to the operation of
the business.
Entrepreneur is the one in the
organization who used to adopt all the
risk related to operation of carrying out
different operation of venture.
Dependent Intrapreneur are dependent on different
order which are pass on by different
entrepreneur in organization.
Entrepreneur at the same time are
independent.

Various types of entrepreneurial ventures.
There are many different type of the entrepreneurial Venture which are generally undertaken by the entrepreneur, some
of the example of entrepreneur venture are as follows:
Private enterprise: Private enterprise is the enterprise which is generally owner and controlled by the individual in the
nation. Main purpose of this type of the Venture is to earn good sort of the profit by carrying out different
operation in the market. There are many different type of private enterprises venture such as Life style firm,
who generally used to carry out the operation of the business to maintain their lifestyle. Survival firm, it is the
firm which generally used to operate in the market to maintain and survive in the market for longer period of
time.
Public enterprises: Public enterprises venture is the venture which is generally owned and control by the central or the
state government. Generally this type of the firm is establish to provide good sort of help to the citizen of the
nation. NHS is one of the example who do not used to operate to earn profit, they generally used to operate in
the market to provide free of the cost or at reasonable price
Social Enterprise: It is the enterprise which is generally establish in the nation to reduce the impact of different social
issue which are prevailing. Main motive of these enterprises is not to earn the profit, the objective of these sorts
of the enterprises in the market to help the individual who are suffering from any of the global issue in the
market.

Typology of Entrepreneur
Improve performance of enterprise: All the entrepreneur generally used to take the variety of the
decision in the organization to improve the performance of the business in the long run. They
generally used to assess the different environment and on basis of the same used to make the
different decision to improve the performance of the business on the continues basis.
Innovative: All the entrepreneur in the organization used continuously innovate the variety of the thing in
the market, to bring the different thing in a way that it used to help them in attracting the good
number of the customer in the market.

Similarities and differences between entrepreneurial
ventures.
Creative Idea: All the enterprise generally used to establish on the basis of different
Creative idea which is possess by different entrepreneur. In the private sector
organization Creative idea is generally in the context of different product of the
company which is brought for very first time in the market. In the context of public
sector organization innovation generally means providing different services at lower
price as compare to the other venture in the market.
Sustain Competition: All the entrepreneur venture has to face the variety of the
competition in the market to survive in the same. As there are many big
organizations who used to operate in the market and used to offer good sort of the
competition to be sustain by different organization.

Difference between different entrepreneurial ventures -
Basis Private organization Public Organization
Organization Structure Private organization generally used to has
a flat structure in the organization. In
which there is one authority that is
entrepreneur alone who used to make the
variety of different decision in the
organization.
Public organization is the organization
which generally used to follow the
hierarchy structure in the organization.
This is the structure in which different
department are given different work to be
done in the organization.
Reward Profit generated from the business is the
reward for the entrepreneur.
All the citizen are happy in the nation is
the reward for the public sector
organization.
Scope / Growth Scope of private sector organization is
higher as compare to the other as they
used to operate at domestic as well as at
the global market as well.
Private sector organization generally used
to work at the domestic market only as a
result used to has a less scope then Private
sector organization.

DIFFERENCE ON THE BASIS OF SIZE
Basis Micro scale organization Medium scale
organization
Large scale
organization
Meaning and
number of
employee
Micro scale organization
is the organization who
used to has less than 10
employee and their paid
up capital is less than
lakh.
Organization who’s turn
over is less that 36 million
and used to has less than
250 employee in the
organization.
Organization who are
having more than 250
employee are generally
known as a large scale
organization.

CONCLUSION
• The presentation has outlined that there are various types of entrepreneurial ventures like micro, small and large
enterprise. These ventures have various similarities and differences.
• Further it has described that there are various public entrepreneurs in public sector of UK. It has explained that
ranking of UK has improved from past years.

REFERENCES
Albort-Morant, G. and Ribeiro-Soriano, D., 2016. A bibliometric analysis of international impact of business
incubators. Journal of Business Research. 69(5). pp.1775-1779.
Ateljevic, J. and Page, S.J. eds., 2017. Tourism and entrepreneurship. Routledge.
Bradley, S.W. and Klein, P., 2016. Institutions, economic freedom, and entrepreneurship: The contribution of
management scholarship. Academy of Management Perspectives. 30(3). pp.211-221.
Doern, R., 2016. Entrepreneurship and crisis management: The experiences of small businesses during the London
2011 riots. International Small Business Journal.34(3).pp.276-302.
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.