Exploring Diverse Entrepreneurial Ventures: A Case Study Approach

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ENTREPRENEURIAL
VENTURES

Table of Contents
Introduction......................................................................................................................................5
LO1 Explore and illustrate the range of venture types that might be considered entrepreneurial. .5
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship......................................................................................................5
Small business entrepreneurship-...........................................................................................5
Scalable Start up Entrepreneurship........................................................................................6
Large Company Entrepreneurship..........................................................................................6
Social Entrepreneurship-........................................................................................................6
P2 Explore the similarities and differences between entrepreneurial ventures...........................7
Historical Comparison-..........................................................................................................7
Background Comparison-.......................................................................................................7
Financial Comparison-...........................................................................................................8
LO2 Assess the impact of small businesses on the economy..........................................................8
P3 Interpret and assess relevant data and statistics to illustrate how micro and small businesses
impact on the economy...............................................................................................................8
P4 Explain the importance of small businesses and business start-ups to the growth of the
social economy..........................................................................................................................11
M2 Evaluate the differences that small, medium and large businesses make to the
economy, applying relevant data and statistics....................................................................12
LO3 Determine and assess the key aspects of an entrepreneurial mindset...................................13
P5 Determine the characteristic traits and skills of successful entrepreneurs (Alan Sugar) that
differentiate them from other business managers.....................................................................13
Curiosity-..............................................................................................................................13
Impatientness-......................................................................................................................13

Socially activeness...............................................................................................................13
Realizing basic human needs-..............................................................................................13
P6 Assess how aspects of the entrepreneurial personality of Alan Sugar reflect his
entrepreneurial motivation and mindset....................................................................................15
LO4 Examine the different environments that foster or hinder entrepreneurship.........................17
P7 Examine, using scenario 3 (Muhammad Yunus), how background and experience can
hinder or foster entrepreneurship..............................................................................................17
M4 Using scenario 2 (Alan Sugar), Analyse the link between entrepreneurial
characteristics and the influence of personal background and experience to specific
successful entrepreneurs.......................................................................................................19

Introduction
Entrepreneurship is a word defined for starting of something new, generally for businesses,
where the person has some zeal to develop new ideas, enthusiasm to develop ideas while
working on the management as well as taking risks as and when required to make profit for the
organization.
When profit for the organization takes place after generating costs for land, labour as well as
basics amenities then only the business is said to be profitable as well as working for the person,
there may be instances when profit may generate in small amounts but when business grows it
also becomes an vital part of increasing economy of the nation in an global marketplace like
today.

LO1 Explore and illustrate the range of venture types that might be considered
entrepreneurial
P1 Examine different types of entrepreneurial ventures and explain how they relate to the
typology of entrepreneurship.
Clothing has become one of the most important thing for mankind as these reflect the personality
of person and a person is generally judged by the same, two of the clothing companies which
have started in UK and took over whole of the market are Levis and GAP, these are the
companies providing clothing to most people in the country.
Startups generally help in growing national economy while providing new jobs to unemployed as
starting of newer business helps in creating new jobs, it also helps in creating new ideas which
were invented to bring change in world and help mankind in general, it also provide society
making of newer things as the company runs it pays taxes which in turn make it useful to small
scale businesses as well as general people.
Different types of entrepreneurial ventures which are prevailed are as under-
Small business entrepreneurship-
Entrepreneurship which come under small business come under this category, they employ many
of the workers in UK, they are profitable but up till a level at which they can help their families
for a living or provide basic things to them, they are provided loan or help by the person they
know which may include family as well as friends or close persons who have trust on them and
can bear consequences of whatever, come in their way. These include electrician, carpenters or
others.
Scalable Start up Entrepreneurship-
These are the type of entrepreneurship which has revelation to change the world by their ideas and
innovation, their funding comes from a bank or any firm providing the same, they take answers
for the loss as well as profit occurred in the business they have taken funding for so they need to
employee best employees for their work, also they need to scale up when their business grows

and make it compatible accordingly. They can make up a small proportion of businesses due to
threats associated with them as well as huge returns available.
These include Instagram,Facebook etc.
Large Company Entrepreneurship
Companies which are sustaining innovation, making newer products which revolve around their core
product and does marketing of their core product while making innovative ideas which can scale up
their business at the end of the day, as they do all these in accordance with changing technologies and
according to the changing needs of their customers, they can do it either by involving in partnership or
buying the company itself for themselves. Some of the examples include- Google, Microsoft, and
Samsung etc.
Social Entrepreneurship-
These are the entrepreneurship which are started for the society and for their good health, they
intend to solve society problems by reacting to them in general their goal is not to make profit
but to serve the society is their main aim they want to create world a better place by helping
persons, these can be profitable, non profitable or hybrid in nature.
Both of the companies as discussed above which are Levis as well as GAP both have started
from a small level where and grown up to a level which has made it cover in entire nation as well
as started their ventures in distant countries too which is increasing day by day in number and
opening stores around the world.

P2 Explore the similarities and differences between entrepreneurial ventures.
Points of similarities as well as differences between Levis as well as GAP on the following basis
is as under-
Historical Comparison-
Levis as well as GAP both were founded in San Francisco, levis founded in 1873 has come very
far as they struggled much to get a brand name for themselves their stores were set on fire but
they patent the way they made their denims . After building a perfect cowboy image for their
brand their sale was never less in number and started growing day by day in general.
Gap was also founded and integrated in California as well in year 1969, which was filled with
Levis jeans and their unique technique was also incorporated by them which could be replaced
by their own made jeans in some time, they meant to reference the generation gap prevailed in
the society which was prevailed in the society, they release their iconic tagline which was “fall
into the gap” which was most advertized jingle for that time.
Background Comparison-
Levis was started selling reportedly in about 55,000 retail locations, out of which 2,300 are
retails which are dedicated to their brand specifically; they sell in about110 countries, which are
categorized into distinct geographic regions.
They are dedicated to sell casual clothing for men as well as women, in both their specified retail
shops as well as shops which have collaborated with them.
Whereas Gap, Inc.’s brands include retail shops which are 3,263 in number which are located in
39 different countries, it is known to be the casual brand for men and women and children too.
Financial Comparison-
According to the annual reports Levis as well as GAP generated net revenues of $4,800,000,000
and $14,549,000,000 respectively, whereas income generated were $138,000,000 and
$833,000,000 however gross margin present is 48 for Levis and 36.2 for GAP.
After the review of both of the clothing brands it can be seen that Levis as well as GAP are not
only competitive directly but they are competitive on the physical as well as financial level, both

have headquarters in San Francisco, California. Both of them have made up in the collection of
in stores by offering various varieties while giving their customers best of the quality they can.

M1 Investigate a diverse range of entrepreneurial ventures to demonstrate an
understanding of entrepreneurship in both the public and corporate sector
Public as well as Corporate sector entrepreneurship are different in nature, defining Public sector
entrepreneurship is defined as circulation of public policy initiatives which are innovative and
have newest concept ,which generate higher economic revenues, it not only increases
effectiveness of knowledge but producing innovation throughout the economy. One of the
example of public sector entrepreneurship is BBC which is British Broadcasting
Corporation ,which is world most historical national headquarters having largest number of
employees in it.
Whereas corporate entrepreneurships are the basic building blocks of innovation as well as
growth of the system which are needed to support the growth of the nation. One of the best
examples which have served UK in every kind marks the name of David and Simon Reuben who
are the top most entrepreneurs of UK who owns most of the part of the real estate in the country.

LO2 Assess the impact of small businesses on the economy
P3 Interpret and assess relevant data and statistics to illustrate how micro and small
businesses impact on the economy.
Importance of micro and small businesses have been there in all the times as these businesses can
contribute in the employment at most of the times while making an asset for the country within,
small business generally start with exchanging of goods with friends as well neighbors in
starting ,its benefits have been seen in rural and backward areas while serving to a limited
population only ,in big cities small business may offer more varied products as well as unique
products to people giving them special services to engage them with their products effectively.
As small business have zeal to develop and move ahead by giving their services to all while
maintaining their quality becomes key role in doing so, so there is need to contribute for the
country for them so that they could give their services to more people and serve them.
Some of the relevant data providing facts that small businesses have higher effect to the nation are
as shown below-

Figure 1 Bar graph showing impact of small businesses in UK
The bar graph as shown above gives the idea about how small businesses have a impact on the
UK people and how they have taken all over the market due to their services as well as providing
quality of products to the nation.
There are some more relevant data as shown-
Figure 2 pie chart giving functionality of small businesses
This pie chart shows how small businesses provide greater of the quality by providing an
improved efficiency, more of the functionality, ability to modernize as well as reduced cost in
general.

P4 Explain the importance of small businesses and business start-ups to the growth of the
social economy.
Started from selling products to neighbors and local members nearby there is start of growth of a
business and employing a corporate relation while maintaining a quality of product they are
going to provide they all are the key factors for the growth of the economy socially, they can
serve a small population but can start with a good response is the key factor which must be
employed in general. Developing themselves to serve in big cities is seen as a milestone while
rooted to their quality, these small inventories not only not only provide varied products but also
plays a key role in providing employment to people looking for employment in small firms as
they would not be having factors which would employee them in bigger firms easily.
Growth of small businesses in UK is increasing day by day as they are in a great number in UK
they are the one which marks most part of the nation and making more and more jobs for the
unemployed people, they intent to employee local workers as it might appear easiest solution to
reduce cost while providing the quality of product they want to give to their former
consumers ,they provide employment to people who are not employed by the big firms as they
might not be having key skills which would be required by them.
Small business have a ability to quickly adapt to changes as they could easily respond to the
changing environment and technology as they have not applied bigger funds so they could
change it quickly by taking a amount of risks they can bear, the loyalty of small firms remains
intact as consumers are loyal to them even at the time of crises, they are loyal even at the tough
times which can be supported afterwards. So these were the importance of small businesses as
well as startups which mark the growth of social economy.