Entrepreneurship & Small Business Management: Venture Typology

This essay explores different types of entrepreneurial ventures, including small businesses, scalable startups, large company businesses, and social entrepreneurship, and their relationship to the typology of entrepreneurs. It differentiates between these ventures based on their definition, characteristics, roles, and objectives. The essay also identifies similarities among these ventures, emphasizing their shared focus on customer satisfaction and innovation. The conclusion highlights the importance of entrepreneurship for economic growth and job creation. Desklib provides students with access to similar assignments and study tools.

Entrepreneurship and
Small business
management
(Task-1)

Content
 Introduction
 Different types of entrepreneurial venture
 Typology of the Entrepreneur
 Differences among various entrepreneurial venture
 Similarities among various entrepreneurial ventures
 Conclusion
 References

Introduction
Entrepreneurship is a practice which
help in establishing new businesses,
which generally happens in those
industry which has a large scope of
growth and development. Such
venture are initiated by the
entrepreneurs who brings new and
innovative ideas which offers creative
product and services to the customers.

Different type of entrepreneurial venture and
how they are related to typology of the
entrepreneurship
Entrepreneurship is related with the process of developing, launching
and managing the businesses which involve various risks with the
aim of earning profits. With the help of this they brings new ideas
into reality which helps them to take the competitive advantage and
can contribute to the economy.

Different types of entrepreneurial venture
Small Business Entrepreneurship:
Most of the businesses are started
as a small businesses in which the
funds invested are less and has a
few employees. Such businesses
includes consultants, travel agents,
grocery stores, plumbers,
carpenters etc.

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Scalable Starts-ups Entrepreneurship:
The scalable starts-ups are those who
has believe that their idea can change
the world and this helps them to
attract funds from various venture
capitalists. To ensure success they hire
talented staff which can help them to
achieve their goals and objectives.

Typology of the Entrepreneur
Survival Ventures: Survival ventures are those which helps the
entrepreneurs to earn their survival for their family. Such businesses
are not necessarily be registered and they may need not to have any
specific finance requirement. All the small businesses fall under this
typology as their aim is to earn their survival.

Differences among various entrepreneurial
venture
Basis Small business Scalable Starts-ups
businesses
Large company Social
entrepreneurship
Definition They are small business
in which the requirement
of the investment is low.
These are the businesses
which operates with the
help of various
strategies, policies and
model with various
innovative ideas.
Such businesses are
those which focusses on
various innovative and
creative products but
with the change in the
need and wants of the
customers.
In these
entrepreneurship venture
the focus is on the
products which can
resolves various social
needs.
Characteristics In these businesses, their
is no requirement of the
registration and the
requirement of the
investments are low.
The focus of these
business are on the
expansion by attracting
various venture
capitalist in a shorter
span of time.
These businesses react
on the basis of the
changes in the needs and
wants of the target
market.
Such businesses operate
with the support of the
government for example
the government provides
them various resources
etc.

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Basis Small business Scalable Starts-ups
businesses
Large company Social
entrepreneurship
Roles Their role is to utilise the
limited resources
efficiently.
The role of these businesses
is to determine various
model which can be
scalable and repeatable.
Their role is to provide the
better quality and
appropriate goods to the
consumers as per their
demands.
The role of social
entrepreneurship is to make
the people aware about
various healthy and safe
products.
Objectives Their aim is to earn their
livings.
The objectives of these
businesses is to attract more
investors so that they can
get adequate funds on time
without any delay.
Their main aim is to satisfy
the customers by adopting
various advance technology
which helps in improving
the quality and reducing the
cost of the products and the
services.
The objective of such
entrepreneurship ventures is
the welfare of the society.

Similarities among various entrepreneurial
ventures
The focus of all the ventures is to satisfy the needs, wants and
preference of the customers in order to ensure the survival of the
organisation.
All the types of entrepreneurship ventures are established with some or
the other innovation which help them in attracting the customers.
These organisation helps in introducing various innovative product and
services which help the organisation to maximise their profits and
the satisfaction of the customers.

Conclusion
It is concluded from the above discussion that it is important for an
economy to promote the entrepreneurship as they contribute a lot to
the economy in terms of creation of various job opportunities and in
uplifting the standard of living of the people. The small businesses
and the start-up's which are established by the entrepreneurs
contributes to the society. Different types of entrepreneurial
ventures are established which helps them to achieve various
objectives.

References
Dupuis, A., 2018. Entrepreneurship: New perspectives in a global age.
Routledge.
Burns, P. and Dewhurst, J. eds., 2016. Small business and
entrepreneurship. Macmillan International Higher Education.
Hjorth, D., Holt, R. and Steyaert, C., 2015. Entrepreneurship and
process studies. International Small Business Journal. 33(6).
pp.599-611.