Entrepreneurial Ventures: Types, Scope, Development & Management

This report provides an overview of entrepreneurial ventures and small business management, exploring different types such as small business entrepreneurship, large company entrepreneurship, scalable start-up entrepreneurship, and social entrepreneurship. It examines how these ventures relate to the typology of entrepreneurship, including social, serial, and lifestyle entrepreneurs. The report also highlights the similarities and differences between these ventures, focusing on aspects like capital, market share, revenue, and the fulfillment of consumer needs. Furthermore, it discusses the scope, development, and growth of entrepreneurial ventures in both the public and corporate sectors, emphasizing the importance of identifying the correct target market to achieve business objectives. The document concludes that understanding the various types of entrepreneurial ventures is essential for developing and organizing a successful business enterprise.

Entrepreneurship and
Small business
management

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Examine different types of entrepreneurial ventures and explain how they relate in context
with typology of entrepreneurship..............................................................................................3
Explore the similarities as well as differences in terms of entrepreneurial ventures..................5
Diverse range of entrepreneurial ventures to determine entrepreneurship in both public and
corporate sector...........................................................................................................................6
Examine scope, development and growth of entrepreneurial ventures.......................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship refers to an activity which is involved in developing, organising and
managing overall business in context with earning profit. It is mainly the concept of initiating a
small business enterprise in order to provide a product or service without creating any kind of
interruptions. In relation with small business management it is defined as the procedure of
coordinating all phases of a small business whether it is in terms of managing all workers ,
suppliers and even in terms of performing regular tasks(Liguori, El Tarabishy and Passerini,
2021). The below report involves types of ventures which are considered entrepreneurial, impact
of small business on economy, key aspects of an entrepreneurial mindset and different
environments that foster or hinder entrepreneurship. The report is based on Brainlabs. It is a
digital marketing agency as well as PPC technology provider. The clients are offered with paid
search and paid social. The company boost their workers to start their clubs in order to get better
opportunities.
TASK 1
Examine different types of entrepreneurial ventures and explain how they relate in context with
typology of entrepreneurship
Entrepreneurship is defined as an ability to enhance and organise a business firm while
dealing with certain consequences in order to achieve profit. While starting any kind of small
business it is necessary to have an entrepreneurship. In terms of entrepreneurial ventures it refers
to an organisation which leads innovation and opportunism so that they can create economic as
well as effective social value. There are different type of entrepreneurial ventures which are
small business, large company, scalable start-up and social entrepreneurship. It is further been
explained as below:- Small business entrepreneurship:- It refers to the privately owned organisations which
are in the form of partnerships and even as a sole proprietorship. They have less number
of employees as compared to other corporations and at the same time they have less

annual revenue also. It is been examined that almost all of the organisations are small
business entrepreneurship and with respect to this individuals are more interested in
making profit that will fully support their family. Large company entrepreneurship:- It is defined as those organisations which have
strong range of their life cycles. It is basically defined as a new business within the
present organisation(Nene and Abegaz, 2021). In this type of entrepreneurship new
products get produced and developed in order to meet demands of all consumers with the
usage of advanced technology. It is considered as the part of large teams who have C-
level executives. Scalable start-up entrepreneurship:- It refers to a business model which relates to the
concept in which a business firm gets started on the basis of a complete different and
unique idea. It involve right from initiating a plan till its launching period. Before
starting such entrepreneurship it is been considered that their decided vision can change
whole world.
 Social entrepreneurship:- This kind of entrepreneurship is in relation with when new
products are created in order to solve social related issues and their needs. The main
objective behind social entrepreneurship is to make whole world a effective place rather
than focusing on achieving profits.
All entrepreneurial ventures relate to typology of entrepreneurship which is further been
explained as below:- Social entrepreneur:- It refers to the typology in which all humans are inclined in
relation to social benefits and get motivation by helping other and fulfilling their needs.
Through those individuals they get linked by social entrepreneurial venture which is also
been done in order to assure benefits in community. Serial entrepreneur:- It is defined as those entrepreneurs who implements a new
business quickly and involve certain new ideas. Mainly they build up their focus on high
level of innovation(AKBAR, 2021). The reason behind this type of entrepreneur is in
relation with their risk taking that eventually gets converted into failure and it gets linked
with the entrepreneurial venture of scalable start-up.

 Lifestyle entrepreneurs:- It refers to those entrepreneurs who start their venture in order
to change their lifestyles and it is linked to both social as well as large scale business
firms as the main objective is not just on receiving profits.
Explore the similarities as well as differences in terms of entrepreneurial ventures
Differences:-
Basis Small business Large company Social business Scalable start-up
Criteria These refer to
those business in
which the main
focus is to make
profit which will
support their
family. In this an
individual runs
and owns their
business.
They have strong
amount of life
cycles and create
those products
which are in
demand.
The focus is on
solving social
problems and
make world a
good and better
place rather than
focusing on
making
profits(Baker,
Kumar and
Pandey, 2021).
It depends on the
perspective of
individual that
their company
can eventually
change whole
world and look
for those things
that are missing.
Features They have low
revenue and small
market area
They have large
number of
employees and
deals in greater
business
communication
The investment is
mainly done in
social technology
and has executive
level support
They have low
customer
acquisition cost.
Similarities:-
Basis Small enterprise Large company Social business Scalable start-up
Fulfilling the
needs
They fulfil needs
which are
necessary by
providing
They work to
satisfy needs of
consumers in
order to get
They work to
satisfy the need of
community in
different
They focus on
increasing market
demands in terms
of enhancing

effective goods
and services
sustainability ways(Bandera,
2021).
profit margins.
Diverse range of entrepreneurial ventures to determine entrepreneurship in both public and
corporate sector
In public and corporate sector it is based on social entrepreneurship and business
entrepreneurship and they are engaged into production of goods and also enhance their profits.
As per the target market they make improvements in their product and expand it in order to
attract large number of customers. Through it they will achieve growth as well as fulfil all
objectives(Cheraghi and Simarasl, 2021). There is a similarity but at the same time difference
also lies as in context with business entrepreneurship the focus is on development of own while
in social entrepreneurship the focus is on improving community.
Examine scope, development and growth of entrepreneurial ventures
In terms of small business enterprise they offer good scope in context with leading
growth for all activities. They get effective opportunity and huge scope in selling products rather
than focusing on its manufacturing. An organisation can develop their entrepreneurial venture in
terms of finding out correct target market where there is the demand of particular product so that
they can achieve growth.
CONCLUSION
From the above report it is been concluded that there are different type of entrepreneurial
ventures in accordance with specific type of business. As in context with small business
management it is necessary to have an entrepreneurship which lead to developing and organising
a business enterprise. It is considered that small business firms have greater level of scope and
high growth which leads them in achieving objectives.

REFERENCES
Books and Journals
AKBAR, Y.R., 2021. THE ROLE OF THE GOVERNMENT IN STRATEGIC
MANAGEMENT AND ORIENTATION OF ENTREPRENEURSHIP TO SMALL
MEDIUM ENTERPRISE BUSINESS PERFORMANCE.Asian Journal of Advances in
Research, pp.27-36.
Baker, H.K., Kumar, S. and Pandey, N., 2021. Thirty years of Small Business Economics: a
bibliometric overview.Small Business Economics,56(1), pp.487-517.
Bandera, C., 2021. Teaching STEM Entrepreneurship With Societal Significance: Building on
the Small Business Innovation Research Program.Entrepreneurship Education and
Pedagogy, p.2515127421994785.
Cheraghi, M. and Simarasl, N., 2021. Age effects on entry into entrepreneurship of the
unemployed, employed and self-employed.International Journal of Entrepreneurship
and Small Business,42(3), pp.259-281.
Liguori, E.W., El Tarabishy, A. and Passerini, K., 2021. Publishing entrepreneurship research:
Strategies for success distilled from a review of over 3,500 submissions.
Nene, G. and Abegaz, M., 2021. The effect of small business entrepreneurship on poverty:
evidence from US rural counties.International Journal of Entrepreneurship and Small
Business,42(3), pp.335-347.