Entrepreneurial Ventures: Scope, Development, Growth in Business

This essay provides an overview of entrepreneurship and small business management, defining an entrepreneur and exploring different forms of entrepreneurial ventures, including serial entrepreneurs and intrapreneurs. It discusses the process of generating innovative products and services, highlighting entrepreneurial ventures such as survival firms, lifestyle firms, and social enterprises. The essay also examines the typology of entrepreneurship, differentiating between scalable and large business entrepreneurship. It contrasts small, large, scalable, and social entrepreneurial ventures based on size, objectives, capital, and social impact. Furthermore, the essay investigates the diverse range of entrepreneurial ventures across public and corporate sectors and critically examines the scope, development, and growth of entrepreneurial activities in a dynamic environment. The conclusion emphasizes the importance of entrepreneurs in developing and expanding businesses, both existing and new. Access more solved assignments and study resources on Desklib.

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Introduction
 An entrepreneur is a person who creates a new business, bears the risk
involved in establishing the new business and enjoys the most of the
rewards.
 He is a individual who combine the capital and land , labour to produces
goods and services in the firm. Entrepreneurship is a process for
developing the new product and services thought the establishment of the
new venture.

Different forms of entrepreneurial ventures
 Entrepreneur is a person who develops creative ideas and then implement
it effectively with an aim to gain profits. They take high risk and bear all
the losses in order to turn up their idea into business. There are various
types of entrepreneurs which is defined below:
 Serial Entrepreneur: These entrepreneurs mainly emphasise on
generating unique ideas with an aim to develop high competition within
the market. They manage operations and activities at their own on
continuous basis.
 Entrepreneur: They are the subordinates who work in an organisation
and establish new thoughts & ideas. They utilize overall resources of
companies in order to perform business functions effectively.

Continue…
 Entrepreneurship is basically a process of generating products and
development of process which is unique & creative in the market.
 Along with this, it is an act of converting thoughts into business which
generates profit and declines level of risk.

Entrepreneurial Venture
 Survival Firms: These are those enterprises who is working to remain in
the market and get stability by enhancing their business operations and
performance.
 Lifestyle Firm: In these enterprise, an entrepreneur get opportunities to
organise business activities and functions which leads to earning of high
profit of firms.
 Social enterprise: This enterprises develops creative goods and services in
order to uplift the standard level of society and to solve their problems.

Typology of entrepreneurship
 Scalable Entrepreneurship: Herein, an entrepreneur establish a company
with an aim that its idea changes the world. They hire talented and
effective employees who perform business activities appropriately.
 Large business Entrepreneurship: This companies offer new and
innovative product in the market that assist them to attract large audiences
and earns high profits. They analyse the requirements of customers first
and uses advanced technologies in their processes.

Differences between small, large, scalable
and social entrepreneur
Basis Small size Large size Social Scalable
Meaning Under this situations,
entrepreneurial ventures
operates at small levels.
Here entrepreneur ventures
performance their activities at
the large levels in the
organisation.
Here social entrepreneurial
venture conduct its business
functions for the benefits of
the society.
Scalable entrepreneur ventures
performance their business
activities at a particular
locations.
Objects The aim of the organisation is
to earn the profits in lieu of
conducting the operation's in
the company.
The focus is to expand the
business operations at the
large scale to gain high profits
in the organisation.
Here entrepreneur aim main is
to satisfy the society by
providing them goods and
services.
The main objectives is to
increase the profits at the large
levels.
Capital Under this situation,
entrepreneur needs lesser
amount of capital to conduct
the operation activities.
Here entrepreneur needs larger
amount of the capital to have
proper working capital in the
organisation.
Here funds are collected from
the society which are used for
the betterment of the society.
Their is no such requirement
of the capital to start the
business.

Investigate a diverse range of entrepreneurial
ventures
 The range of entrepreneurial ventures is diverse in their type depending
upon the purpose of the business and various investments are done in the
business for the smooth functioning of the activities.
 These diverse is the public and corporates sectors.

Critically examine the scope, development and
growth of entrepreneurial
 Under the dynamic environment, every business has different scope of
performing their duties and earning profits in the organisation.
 As the current market keeps on changing which impose new challenges
for the growth of the business in the target marketplace.

Conclusion
 From the above discussion, it can be concluded that there are various
entrepreneurial ventures as well as associated typologies.
 Further it is discussed that entrepreneur is a individual who takes risk in
developing and expanding the existing bushiness as well as opening of
new business in the market.

References
 Andersson, S. and Evers, N., 2015. International opportunity recognition
in international new ventures—a dynamic managerial capabilities
perspective. Journal of International Entrepreneurship. 13(3). pp.260-276.
 Brown, R and et.al., , 2018. Working the crowd: Improvisational
entrepreneurship and equity crowdfunding in nascent entrepreneurial
ventures. International Small Business Journal. 36(2). pp.169-193.
 DeTienne, D. R., McKelvie, A. and Chandler, G.N., 2015. Making sense
of entrepreneurial exit strategies: A typology and test. Journal of Business
Venturing. 30(2). pp.255-272.