BTEC HND Unit 9 Entrepreneurship and Ventures Report

This report, prepared for a BTEC HND in Business course, delves into the realm of entrepreneurial ventures. It commences with an introduction defining entrepreneurship and exploring its scope and typology, using Milton Keynes Council as a case study. The report then categorizes various entrepreneurial ventures, including small, scalable, large, and social enterprises, outlining their features and functions. A key aspect of the report is the detailed comparison of similarities and dissimilarities between these ventures. The analysis covers aspects such as the utilization of resources and customer services. The report concludes by highlighting the significance of entrepreneurship for business growth and stability, and it references relevant academic sources. This report provides a comprehensive overview of entrepreneurial ventures and their management.

Entrepreneurial
Ventures

Table of Contents
• Introduction
• Entrepreneurship
• Entrepreneurial Ventures
• Typology of entrepreneurs
• Dissimilarities between entrepreneurial ventures
• Similarities between entrepreneurial ventures

Introduction
Entrepreneurship refers as the procedure of designing, developing,
launching a new product in global market with the ability to
enlarge target market by supplying qualitative finished goods. The
organisation selected for this project is Milton Keynes Council as
being the local authority of Borough for Milton Keynes in
Buckinghamshire, England. This project identifies various types of
entrepreneurial ventures with their similarities and dissimilarities
that relate with various typology of entrepreneurship.

Entrepreneurship
Entrepreneurship is defined as the capability of business
owners to develop strategic decision making procedure with
new innovative ideas that create competitive advantage.
Managers of Milton Keynes Council strategise their planning
to develop their thinking skills as to manufacture differentiated
finished goods or services to enlarge customers by fulfilling
their requirements.

Entrepreneurial Ventures
This provides advisory service for innovative ideas of
producers to determine the strategy that might satisfy
requirement of customers with their economic and social
value. There are various types of entrepreneurial ventures are
classified with reference to managers of Milton Keynes
Council are as follows:-

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• Small enterprise:- It is privately owned business which does
not involve rules and regulations authorised by government.
This includes sole proprietorship, partnership, joint venture,
merger and acquisitions, etc.
• Scalable (start-up) enterprise:- This refers as to develop
innovative ideas for increasing competitive strategies with
their new product while entering in global market.

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• Large enterprise:- It involves either 5,000 employees or
annual turnover greater than 1.5 billion.
• Social enterprise:- This analyse problems of society that are
to be managed by ventures to achieve social objective such as
NGOs, NCVO and charitable trust.

Typology of entrepreneurs
It is the procedure that discriminates various functions of
business through decentralising in departments in accordance
with the ability of worker to perform task. The various
typologies of entrepreneurs are mentioned with reference to
managers of Milton Keynes Council as shown below:-

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• Lifestyle:- The lifestyle varies in accordance with ethos,
norms, culture, values and code of conduct for population that
discriminate them through their behaviour and living styles.
• Growth of firms:- It is the duty and responsibility of
managers to decentralise workers with their ability to perform
task that creates opportunity in planning for growth and
sustainability.

Dissimilarities between
entrepreneurial ventures
The main purpose of entrepreneurial ventures is to determine
new ideas in planning competitive strategies for growth,
development and stability of business in economic sector. Its
similarities and dissimilarities are explained with reference to
managers of Milton Keynes Council are as follows:-

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Features Small enterprise Scalable (start-up)
enterprise
Large enterprise Social enterprise
Definition It is privately owned
business which does
not involve rules
and regulations
authorised by
government.
Managers of Milton
Keynes Council
implement this to
reduce liabilities of
another company by
sharing assets that
maximise market
share.
This refers as to
develop innovative
ideas for increasing
competitive
strategies with their
new product while
entering in global
market. Managers
of Milton Keynes
Council implement
this to sustain in
perfect competition
market for
accomplishment of
short and long-term
goals and
objectives.
It involves either
5,000 employees or
annual turnover
greater than 1.5
billion. Managers of
Milton Keynes
Council implement
this to focus on
customer
satisfaction by
analysing change in
taste and preference
that affects demand.
This analyse
problems of society
that are to be
managed by
ventures to achieve
social objective
with NGOs, NCVO
and charitable trust.
Managers of Milton
Keynes Council
implement this to
develop corporate
social responsibility
by providing social
welfare through
creating job
opportunities that
enhance customer
support and loyalty.

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Functions The main
function of small
business is to
achieve short
and long-term
goals and
objectives for
competing with
rivalries.
The new
companies are
established by
one or more
business owners
to manufacture
new specialised
product that
focus on meeting
requirements of
business by
supplying
qualitative
products.
The function of
large business is
to run it
smoothly with
various
departments by
improving its
efficiency to
achieve success.
The main
function of social
enterprise is to
provide charity
services with
maximisation of
social welfare
instead of
increasing
profits.
Example David Canners,
Fourex, Airdri,
Marshfield
Bakery, etc.
Videoplaza,
Cocoon, Bizzby,
etc.
TESCO, Aviva,
Peter Jones,
Simon Cowell,
etc.
Barnsley, CASA,
Hubbub
Enterprise,
Resonance, etc.