UK College BTEC HND Business: Entrepreneurial Ventures Report

This report delves into the realm of entrepreneurship and small business management, examining the core concepts of launching and operating new businesses. It explores various types of entrepreneurial ventures, including public, private, and voluntary ventures, analyzing their distinct characteristics and operational strategies. The report further investigates the differences an...Read More

Entrepreneurship and Small
Business Management

TABLE OF CONTENT
• INTRODUCTION
• TYPES OF ENTREPRENEUR VENTURES
• Difference and Similarities Between Entrepreneurial Ventures
• CONCLUSION
• REFERENCES

INTRODUCTION
• Entrepreneurship is a process which includes
launching, designing and running a new business in
market which is initially a small business. The
people who create these business are known as
entrepreneurs.
• There are a lot of risk factors which the
entrepreneurs have to take for there businesses to
work in market.

Types of entrepreneur ventures
Entrepreneur ventures are small business firms which have ability to increase their business
potential by innovating and upgrading products and services. Entrepreneurial ventures have
the capability to take risks to achieve their objectives. The stages are public, private and
voluntary.
Public Venture
Public venture get the capital from the public in exchange for giving out shares to
them so that the company can achieve their objectives. There has to a transparency in
organization so that there is a better functioning in this type of venture.

CONTINUE..
Private Venture
Private ventures are those ventures who have limited shareholders for the functioning of organization.
They gain their own capital and have a owner or two. Transparency in this factor has to be between the
shareholder and the employees in organization and they are listed in the stock exchange market. Example of
this venture is Greenergy which has a limited shareholders so that they can have effective decision making.
Voluntary Venture
These ventures are a non-profit organizations in market which works for the benefit of people and
they do not focus on getting a profit in market. The capital for these ventures is not fixed and they have a lot
of shareholders in organization.

Typology of entrepreneurship ventures
Enterprise is an attribute which is basic in the person as it
causes the business to develop and there are different kind of
business enterprise adventures which have started to earn a lot
of profit in market.
Lifestyle ventures
This venture is focused on the quality of products
and services as their belief is to increase the living standards
of customers. Using the resources is not done well in this
venture and the managerial aspect is not focused which is a
great drawback for this venture for the future growth for
themselves is large entrepreneur venture.

CONTINUE..
Speculative ventures
Speculative ventures shows the investors and competition in market that there innovation and
ideas have a potential to grow in market and get a lot of profitability in the future. There are
speculators who will analyse this factor and purchase such ideas by entrepreneurs and make profits
from it is a large entrepreneur venture.
Managed growth ventures
In this venture the focus is not just on gaining profit but also motivate the investors, gaining the
growth in market and the profit is invested in research and development department so that they can
increase the sales of products in market. They even focus on developing human resource to increase
productivity is a medium entrepreneur venture.

Different and similarities between entrepreneurial
ventures
Managerial focus
Social enterprise
• Limited employees are present in this venture so making a strategy for this aspect is not important
since they have a short term vision for this business.
Public enterprise
• Focus of this venture is on the productivity so managerial functions are made by the enterprises
themselves.
Private enterprise
• They focus on hierarchy of managerial delegation to divide their workload to increase the
productivity of the enterprise.

CONTINUE…
Annual Growth Rate
Social enterprise
• Annual rate in this venture is medium as they focus on making the profit but not on the products and
services which they are providing to customers.
Public enterprise
• Depending on the strategies and planning this venture will have a good or bad annual rate for themselves.
Private enterprise
• There is use of proper strategy and planning in this venture so there is a high growth of annual growth.
There is efficiency in human resources which is increasing the productivity in this venture which is
another reason why this venture has a high growth in their annual rate.

CONTINUE…
Technology Investment
Social enterprise
• Very little technology is used in this venture because the capital investment is not present. Since the focus
is only on getting profit and short term goals so investment in technology is not a focus of this venture.
Public enterprise
• To increase the current efficiency they focus on the technological aspect in business. This is done in this
venture so that they do not have to hire more employees and the outcomes of this venture is better.
Private enterprise
• Technology is up to date and the investment in technology is high which is making the efficiency in this
venture better and this industry has made a strong base for themselves in market and loyal customers as
well.

CONTINUE…
• Time Horizon
Social enterprise
• To survive the competition in market they focus on productivity to increase their sales.
Public enterprise
• To have a long stability in market they focus on making the customers get the best of products and
services from this type of venture by increasing the quality of them.
Private enterprise
• There is a lot of investment which this venture has done in market and in business therefore they
take the best method to make the customers satisfied with the services and products of the company.
The work load is also distributed so that the productivity in this venture can increase so that the
demands of customers can be met.

SIMILARITIES
Similarities
• Profitability- All ventures in market have authority to make decisions for themselves
according to size of the venture so that they can get the maximum profit from it.
• Outcome- Objectives have to be met by all the ventures in market so that they can get the
maximum outcome from it. They all are motivated enough to get a good base for themselves in
market and customers.
• Strategies and planning- There is a need of having a planning for themselves in market so that
they can function in market better, be it for short run or long run, but they are going to follow a
strategy or plan for themselves.

CONCLUSION
From the above study it can be concluded that there are a lot of risk factors
which an entrepreneur has to take to make their businesses function in market
so that they can make the most. There are a lot of strategies and planning which
has to be done in company so that they can make a base for themselves faster
and get changes in companies so that they can achieve their objectives.

REFERENCES
• Bylund, P.L. and McCaffrey, M., 2017. A theory of entrepreneurship and institutional
uncertainty. Journal of Business Venturing, 32(5). pp.461-475.
• Chowdhury, F., Desai, S. and Audretsch, D.B., 2018. Entrepreneurship: An Overview.
In Corruption, Entrepreneurship, and Social Welfare (pp. 23-37). Springer, Cham.
• Dana, L.P., 2018. ENTREPRENEURSHIP & SMALL BUSINESS.
• Durkin, C. and Gunn, R. eds., 2016. Social entrepreneurship: A skills approach.
Policy Press.
• Hamdan, A and et.al., 2019, September. Entrepreneurship and Economic Growth:
Literature Review. In International Conference on Innovation and
Entrepreneurship (pp. 350-XXIV). Academic Conferences International Limited.
• Hoppe, M., 2016. Policy and entrepreneurship education. Small Business
Economics. 46(1). pp.13-29.