Entrepreneurial Ventures: Characteristics, Skills, and Growth Report

This report delves into the multifaceted world of entrepreneurship, examining the identification and typology of entrepreneurial ventures, including small business, scalable startups, corporate, and social enterprises. It differentiates between various venture types, highlighting similarities and differences in size, structure, aims, and sources of finance. The report discusses diverse entrepreneurial activities, emphasizing the importance of innovation, quality administration, and strategic planning for business effectiveness and economic growth. It further analyzes the scope, development, and growth of entrepreneurial ventures, particularly the impact of small businesses on the UK economy and the importance of innovation for enterprise success. The report also identifies and analyzes the characteristic traits and skills of successful entrepreneurs, using Steph Croft Simon as a case study, focusing on her skills, attitudes, and beliefs in launching Norm Foods and its organic food products. The report underscores the significance of adaptability and ethical sourcing in entrepreneurial success, offering valuable insights into the entrepreneurial mindset.

WHAT MAKES
AN
ENTREPRENEUR
?

Table of Contents
INTRODUCTION...........................................................................................................................1
LO 1.................................................................................................................................................1
P1. Description on identification of entrepreneurial ventures and how this are relates to type
of typology of entrepreneurship.............................................................................................1
P2. Explanation on the similarities and differences between entrepreneurial ventures.........3
M1. Discussion on diverse range entrepreneurial ventures to demonstrate the understanding of
entrepreneur activities. ..........................................................................................................3
D1. Examination of scope, development and growth of entrepreneurial ventures................4
LO 3.................................................................................................................................................5
P5. Determination and analyses characteristic traits and skills of successful entrepreneur
which differentiates from other business managers. .............................................................5
P6. Assess and analyses that how aspects entrepreneurial personality reflect entrepreneur
mind set and motivation.........................................................................................................6
M3. Examination of differed arguments related to characteristic of entrepreneurial.............7
P7. Evaluate that how background and experience foster and hinder entrepreneurship........8
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
The Entrepreneurship is the process which works as to process of designing, launching
and running activities of business enterprise effectively. He is the person who work as to provide
innovative ideas so that business function can run effectively. Entrepreneurs is key person who
bring various development in enterprise. The one of the main objective is to provide the depth
insights about entrepreneurial activities so that success of small scale enterprise can be achieved
(Choi and Majumdar, 2014). Thus, innovative ideas and technological advancement will be
helpful in terms to achieve effective growth in market. The entrepreneur is having various skills
and characteristics which will be helpful in order to take effective innovative approaches. The
present report is inclusive of case study of Steph croft simon who is the founder of Norm foods
and has launched Norm Popcorn. Thus, present assignment will be focussing over
entrepreneurial characteristics as are skill, attitudes and beliefs. This all are playing essential role
in order to process the each activities in the systematic manner. This activity work as to outlines
the relationship between entrepreneurial ventures and small scale enterprise so that connectively
all they can perform business activities appropriately (Abreu and Grinevich, 2013). In this way,
small scale entrepreneurship are having large impact over things as are labour turnover,
economic growth, job opportunities to local residents. This kind of activities will be helpful in
order to achieve maximum level of growth of an enterprise. The present report will focus on
aspects of Richard Branson in terms to provide flexible services so that enterprise can achieve
high amount of profitability and productivity.
LO 1
P1. Description on identification of entrepreneurial ventures and how this are relates to type of
typology of entrepreneurship.
The entrepreneurship is the kind of activity which works as to establish enterprise who
works as to earn the long term profitability and productivity. Under this, main objectives is to
examining the differed environments which helps to foster and hinder the growth of an
entrepreneurial activity. It has been defined in following manner as are-
 Small business enterprise- During the initial stage of small business enterprise the
enterprise works as to carrying business operation as small groceries sectors, travel
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agents, plumbers etc. Thus, small enterprise business can operate its activities by carrying
small amount of funds (Cerrato and Piva, 2012). This amount can be borrowed from
family and acquaintances so that business can be started. Hence, the main aim is to
satisfy the expectation of customer so that theEntrepreneurs is key person who bring
various development in enterprise. The one of the main objective is to provide the depth
insights about entrepreneurial activities so that success of small scale enterprise can be
achieved (Choi and Majumdar, 2014). Thus, innovative ideas and technological
advancement will be helpful in terms to achieve effective growth in market. The
entrepreneur is having various skills and characteristics which will be helpful in order to
take effective innovative approaches. The present report is inclusive of case study of
Steph croft simon who is the founder of Norm foods and has launched Norm Popcorn.
Thus, present assignment will be focussing over entrepreneurial characteristics as are
skill, attitudes and beliefs. This all are palying essential role in order to process the each
activities in the systematic manner. sustainability and profitability can be generated. It is
one of the basic typology of an enterprise.
 Scal1530166196able start up entrepreneurship- In this main aim of the enterprise is to
introduce organisational activities with innovative services. The main objective of this
kind of entities is to provide new products to customers. With help of providing
innovative products the entity is able to attract the buyers in market. This firm are highly
risk takers and mission, vision and objectives are need to be set defined and cleared. The
one of the main motive is to take effective steps in order to have creation and
maximisation of health (Drucker, 2014). With help of focussing over high production,
easy production and faster network services will work as to have rapid growth of an
enterprise. Thus, Richard Branson says to achieve success it is essential to be flexible and
adaptable as it one of suitable key for maximisation of growth.
 Corporate entrepreneurship – This is helpful in order to works as to evolution of new
ideas and opportunities and this all factors leads to have betterment of organisational
profitability. In addition to this, it can be said that corporate entrepreneurs core
innovators and high risk takers.
 Social entrepreneurship- This kind of enterprise focussing over to create innovative
products as it is helpful in order to full fill the social needs and desire. They main aim is
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to keep focussing over innovative ideas and changing environmental conditions. This
kind of enterprise works as to provide those services to society which helps to provide
better well-being to society.
P2. Explanation on the similarities and differences between entrepreneurial ventures.
Under this, there are various differences among the entrepreneurial activities. There are
variety of enterprise and each are different in relation to size terms. This is need to be noted in
following manner as are-
1. Size and structure- The size of small business enterprise is small and they are providing
services in order to meet the need of owner. The enterprise which are carrying
organisational activities on large scale are mainly called as larger scaler enterprise. This
firms are main contributions to economic growth (George and Bock, 2011).
2. Aims and objectives- In this, the focus is need to be given on welfare of society by
rendering effective services and this kind of organisation can be called as social
entrepreneurship. The focus is to provide the effective services to employees so that
specific goals can be accomplished. Under this small business enterprise are mainly
connected with those strategies which helps to provide long term growth to an enterprise.
3. Sources of finance- Under this it can be said that firm is majorly focussing over the
activities as financing. Thus, UK is taking various kind of steps in order to organise the
large size of business enterprise. Thus, the amount of sum plays major role in term to
establish business activities effectively. In addition to this, bank and other kind of
financial institution plays major role in terms to meet out the objectives of the enterprise.
There are various kind of small business enterprise and they initiates their business
activities with the help of friends, family etc. On other hand the private company venture
can take reserves from their family companions to begin their business. The association
who are conveying there exercises on the expansive scale can likewise turn into the
wellspring of fund.
M1. Discussion on diverse range entrepreneurial ventures to demonstrate the understanding of
entrepreneur activities.
In the present situation there are different type of entrepreneurial ventures which
functions as to analyse the extensive variety of entrepreneurial exercises. Subsequently, unique
entrepreneurial ventures have various types of weakness and this is need to cope up so that
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organisational activities can be performed effectively. In this it is essential to carried out the
process of innovation so that enterprise can run its activities systemically. Correspondingly, it
can be said that quality administrations, arranging methodology and this all works as to enhance
division and this is need to be resolved in different structures. In this manner, as indicated by
vision and prerequisites, imaginative thoughts and systems are executed for security. In
agreement to this, estimation of business exhibitions and exercises are examined for the benefit
of which element extends (Haeussler and Colyvas, 2011). Thus, the small scale enterprise are
those organisations who works as to make contribution in economic growth. In this way, there
are various kinds of enterprise and this all based on large, small and social enterprise and this all
perform its activities in order to provide better well being the society.
Subsequently, there is abnormal state of risk which happens for executing activities
identified with business adequacy. Furthermore, social enterprise is profitable for making
powerful business profile and social welfare. In this way, social business visionaries settle on
choice identified with creating merchandise and ventures to society and getting ready in order to
provide better well being to society. Thus, it can be said that social enterprises are formed in
order to take steps in relation to resolve the and it also works as to provide support to social
communities.
D1. Examination of scope, development and growth of entrepreneurial ventures.
The small business enterprise is having the significant effect on the development of the
UK. The enterprise which carries their business on the large scale are able to carry the firm
operation in large manner. Under this way, share of small business enterprise can not be easily
seen. In addition to this, the growth and profitability of business enterprise plays crucial role in
order to meet out the objectives of business enterprise. In addition to this it can be said that the
business enterprise who is carrying its activities on the large scale can able to employ more than
250 employees. Under this large business enterprises are taking various kind of steps in order to
mitigate the issues in relation to unemployment. Thus, with help form providing job facilities to
individual the firm is carrying business operation in systematically manner.
The development of the economy can be measure with the exercises various kind of
business activities. Thus, it can be said that this kind of function will work as to contribute to the
GDP of the country. In order to contribute maximum to the firm it is essential to have the
innovative facility so that enterprise can run its business activities expertly. In this way it can be
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said that there are differed kinds of ventures whose major objectives is to contributing maximum
to enterprise. There are number of function of large business ventures which is performing by
small business enterprise. With help of seeing this it can be said that small business enterprise
are major contributor in order to promote the effective growth and development in country. With
help of seeing condition of UK the major amount of revenue generated from small management
enterprise. In this way, the innovations and appropriate function of enterprise will be helpful in
order to process business activities systematically.
LO 3
P5. Determination and analyses characteristic traits and skills of successful entrepreneur which
differentiates from other business managers.
The organic food products are introducing by Steph croft simon in order to attract the
customers in market. The main aim behind bringing innovative facilities is to add value to the
enterprise (Davidsson, 2015). She was having good skills in the cooking and backing the organic
food products. The main motive of her to develop the new of eating. She has launched the wide
range of oat bars in market. She said that Noms main motive is to making it easier to put healthy
and nourishing food into the bodies of an individual. She is the well known entrepreneur and
deal with the specific requirements of sourcing ethical, organic food and major focus she was
putting is that production facility of food products needs to be gluten and dairy free. She has
launched the Organic Popcorn brand in UK. It is very healthy and effective products as it is eaten
all times in the day. By the taking effective research it has been identified that she has launched
the Salted, maple and cinnamon maple flavours and this pack has contained with 100 calories of
bag.
Under this popcorn has revealed the popularity of crisp. Under this, challenges which has
been occurred in business activities has impact on effectiveness and structure of nation. With
help of generating new ideas and techniques the better and effective performance can be carried
out. The legal authorities need to defined the launching, advertising and implementing the all
activities which works as to plan and producing goods in expertise mode. Thus, Entrepreneur
must have differed kind of skills which helps to establish and having expansion of business
activities. Thus, entrepreneur must have leadership skill so that they all work as to implement the
products and services effectively (Davidsson, 2015). In this way, systematic management and
proper innovative practices is need to be carried and with help of proper skills the entrepreneur
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can process its business activities in systematically manner. In this manner, it can be said that
with help of enhancement in quality features of entrepreneur he is able to achieve goals of an
enterprise in larger manner.
To wind up a fruitful business people's training have nothing to do with as a few business people
are school drop out. It is just diligent work and new thought that can prompt achievement. By
business people a considerable measure of time and cash is contributed to wind up effective. In
exploring new territory they for the most part accept and to accomplish the objectives and
destinations the new thoughts is being connected by them to their business. By business
visionaries the hazard is additionally being taken in their business (Eckhardt and Shane, 2013).
Keeping in mind the end goal to execute their arrangement and thought thy attempt to go for
broke. They are likewise not anxious of hazard and disappointments. Business people are those
initiators who go out on a limb and get ready procedure for setting up new element. They
acknowledged difficulties by actualizing imaginative thoughts with respect to special business
activities. Be that as it may, there are various types of business visionaries who handles
troublesome circumstances too gets ready deliberate plans for compelling business tasks. They
have to actualize the techniques which will be useful for them keeping in mind the end goal to do
the business person exercises viably. The business visionary is should be the individual who is
daring person and acknowledge to take the difficulties.
P6. Assess and analyses that how aspects entrepreneurial personality reflect entrepreneur mind
set and motivation.
The entrepreneur is responsible in order to carried out successful innovation can be
carried out. In this manner, successful innovation is need to be done with help of finding of new
markets, new products, new material and development. In order to carry out entrepreneurial
activities in systematic manner the entrepreneur need to meet out the profitability and
productivity of an enterprise. The present case study has focussed on Steph croft simon who is
the founder of Nom foods. She has taken various steps in order to develop the products so that
individual can develop their perception as per quality of food products. In this main goals of
entrepreneur should be on the innovation and factors of dynamic. It is helpful in order to have
development and improvement in living standard. She has started to create the Nom products and
it has come in my mind due to her own health issues. She said at the tie she was studying she has
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experienced several allergies. There are very lack options were available in everyday
supermarkets she has started to spend my major of time on researching about health products.
There are the massive proportion at the society which has been walking around with allergies.
She has started to use organic products and it has helped out in resolving the issues and it
reduced the impact of allergies (Fayolle and Gailly, 2015).
M3. Examination of differed arguments related to characteristic of entrepreneurial.
Without the putting efforts no one is able to get success in his life. In this prosper need to
have foresight power with the help of this he is able to develop his skills effectively. To earn
profit is another factor which is helpful in order to earning larger amount of profitability. In this
manner the Steph croft simon has found differed kind of cooking and backing method and this
kind of achievement helps her to get more amount of profitability by creating the organic food
products (Fayolle and Gailly, 2015). The profit is the main factor which is helpful in order to
motivating many individuals because all are working in order to earn large amount of revenue. In
this manner it can be true to said that the skills, knowledge and personality traits are helpful in
order to have desire success. With the help of this person can encourage himself in order to
perform best. In this manner it can be said that the entrepreneur skills are very helpful in order to
changing mind set of individuals. With the help of positive mind and constant efforts the
individual is able to achieve the desire success.
A perfect business objectives with viable quality abilities is key component to create
appropriateness and this kind of business activities can performed its business activities
systematically. Under this number of strategies are need to be framed so that function of
enterprise can be taken with the appropriate plan and procedure.
This term can be understand in better manner with the assistance of case as are For instance
business person has administration abilities that includes start and tolerating challenges happen at
working environment. In this procedure, business visionary of any undertaking makes hazard and
actualize move designs identified with extension and working new associations for compelling
generation and dissemination of products.
In this way it can be said that innovative and advance services to the individual plays crucial role
in order to perform business function in systematically manner.
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P7. Evaluate that how background and experience foster and hinder entrepreneurship.
In order to achieve the success in business enterprise it is essential to be dedicated about
the thing which helps to achieved success. Thus, Nom was born out Steph croft simon's health
issues. She said that diet and nutrition has affected the whole life. She was experience skin
disease at the time of her college days. In that time she has spent major time in order to
production of organic food products. It is vastly improved by diet allergies, intolerance and other
kind of health niggles and this all has need to be improved by diet, refined sugar and nasty
chemicals which all were in rich in nutrients (Stokes, Wilson and Wilson, 2010). She has
experience the several allergies on her skin this has forced her to producing the organic food
products. Thus, it can be said that the family background of entrepreneur plays essential role in
terms to foster and hinder the entrepreneurship activities. Thus, entrepreneur is the person who
works as to process the activities of firm is systematic manner.
The family foundation of a few business visionaries they don't have much cash to fire up their
own particular business. In any case, to begin their business the business people have clear vision
and objectives in their mind and this all is need to be implemented in effective and efficient
manner (Storey, 2016).
In this it can be said that on the level of small the firm is able to perform its business activities
with hard work and dedication. In this some entrepreneurs are need to perform it business
activities systematically (Storey and Greene, 2010). In this way to become successful
entrepreneurs it is not essential to get the education from some good school and college. There
are some entrepreneurs who are schools drop out. In the case of Steph croft simon who is the
founder of Nom Organic food need to have creative approach and talent this both capabilities
will be enough to get the success. In this, here cooking and baking skills are very effective and
the innovation approach to create organic food with taste is one of the factor which leads her to
path of success.
Under, this large amount of time and money will be helpful in order to get the success in
market for longer period. In the initial stage activities of entrepreneurs are relates to making the
core aim of the enterprise so that this all unction will be helpful in order to lead the business
activities in systematically manner (Stokes, Wilson and Wilson, 2010). Thus, one of the core
competences of the entrepreneur is to perform the activities of enterprise in the core and effective
manner. In addition to this, learning abilities of an individual will be helpful in order to achieve
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great success in business enterprise. In this way it can be said that the entrepreneur need to plan
out the all things in systematic manner. This kind of approach will be helpful in order to process
the activities of firm in systematic manner. With help of developing innovative ideas the
enterprise is able to get the success in market.
CONCLUSION
From the above report it has been summarized that entrepreneur plays essential role in
terms to provide effective services to its employees as well he contributes maximum to entity.
Entrepreneur activities plays the essential role in order to earn the large amount of profitability
and productivity. This kind of competitive strategies will be helpful in order to lead the
enterprise activities in appropriate manner. The present report has covered the characteristics,
skills, and those which can develop and process the entrepreneurial activities in systemic
manner. The present report has covered with the various activities of entrepreneur as scope,
development and growth factor and diverse range of entrepreneurial ventures and it is helpful in
order to facilitate the successful activities.
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REFERENCES
Book & Journal
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entrepreneurship research. Entrepreneurship theory and practice. 35(1). pp.83-111.
Grenier, P., 2011. 10. Social entrepreneurship in the UK: from rhetoric to reality?. An
introduction to social entrepreneurship: Voices, preconditions, contexts. P.174.
Haeussler, C. and Colyvas, J.A., 2011. Breaking the ivory tower: Academic entrepreneurship in
the life sciences in UK and Germany. Research Policy. 40(1). pp.41-54.
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(IO) nexus integrates objective and subjective aspects of entrepreneurship. Academy of
Management Review. 38(1). pp.160-163.
Fayolle, A. and Gailly, B., 2015. The impact of entrepreneurship education on entrepreneurial
attitudes and intention: Hysteresis and persistence. Journal of Small Business
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Stokes, D., Wilson, N. and Wilson, N., 2010. Small business management and entrepreneurship.
Cengage Learning EMEA.
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