Entrepreneurship: Venture Types, Differences, and Similarities Report

This report provides a comprehensive overview of entrepreneurship, defining the concept and differentiating between entrepreneurs and intrapreneurs. It delves into various types of entrepreneurial ventures, including small businesses, large organizations, and social enterprises, highlighting their unique characteristics and objectives. The report also explores the typology of entrepreneurship, examining lifestyle enterprises and growth firms. Furthermore, it offers a detailed comparison of different ventures, outlining their scales, purposes, and operational approaches. The conclusion summarizes the key takeaways, emphasizing the role of entrepreneurs in translating ideas into reality and the significance of understanding the different venture types. This report serves as a valuable resource for students studying entrepreneurship and business management.

ENTREPRENEURSHIP AND SMALL
BUSINESSES MANAGEMENT

TABLE OF CONTENTS
Introduction
Definition
Difference between entrepreneurs and intrapreneurs
Types of Entrepreneurial Ventures
Typology of Entrepreneurship
Difference and similarities between entrepreneurial venture
Conclusion
Reference

INTRODUCTION
The term entrepreneurs refer to those individuals that
formulate new ideas through inventing or innovating.
Entrepreneur perform their work with different motive such as
to earn profits or welfare of society. In the present scenario,
individuals who establish themselves as an entrepreneur works
as the backbone for a country through offering numerous
benefits to country in form of tax and products that are required
by society.

DEFINITION
• Entrepreneurship is the ability of the entrepreneur to
efficiently run a business by managing various challenges in
order to maximize their profit.
• Enterprise is a word that is used for businesses that are
profitable but they are mostly associated with
entrepreneurship. The people who are successful in their
entrepreneurial ventures are referred as enterprising.

DIFFERENCE BETWEEN
ENTREPRENEURS AND INTRAPRENEURS
Entrepreneur Intrapreneur
An entrepreneur is a person who
take initiative to start a business
bearing most of the risk with an
aim to maximize the
profitability. They are
considered to be the innovator,
sources of new ideas etc.
While intrapreneur is the
employees of the company who
are responsible for developing
various innovative ideas within
the organisation. They can use
the resources and capabilities of
the organisation but cannot reap
the profits or do not have to bear
risk related to the business.

TYPES OF ENTREPRENEURIAL VENTURE
Entrepreneurs are responsible to develop and establish new
business that provides new products and services in the market
for attracting more individuals. Along with this it also leads
entrepreneurs to earn more amount of profits in order to live
their life within a comfortable or luxury manner. All venture
perform its work with a different purpose that is formed by
entrepreneurs.

DIFFERENT TYPES OF VENTURES
Small business- This venture perform its operations with small
number of employees in a limited area. So the capital for
business firm is also limited and they also manage its size at a
small level. For example: Brighstar Financial is a small
business.
Large organisation- This business venture operate its function
and operations at large level mostly within international market.
The main motive of large organisation is to earn huge profits
and to grow its business among overall market. Example: Tesco

CONTINUE
Social organisation- With this type of business management
perform their work with motive of welfare the society. Social
enterprise identifies the gaps within society and then implements
those techniques which generate a bridge between needs of society
and company products in order to improve society conditions.
Moreover, social enterprise work for enhancing the society
standards rather than to earn company profits. For example :
Cancer research is a social organisation.

TYPOLOGY OF ENTREPRENEURSHIP
Entrepreneurs venture implement different typology that leads
management to complete their work in an effective manner.
Some typologies related with business are some as follow:
• Lifestyle enterprise- This types of entrepreneurship are
developed by management to improve living standard of local
individuals which leads organisation to operate their business
effectively in their location.

CONTINUE
Growth firms- This types of organisation are developed to
enhance company revenues and profits. With the implement of
growth typology entrepreneur perform their work by developing
new ideas that increases both productivity and profitability of
business.

Difference and similarities between entrepreneurial
venture
Basis Small business Large business Social enterprise
To meet with needs
of buyers
Small business are
developed to satisfy
need of small
customers.
With large business
buyers needs are
satisfied at huge level.
The main aim of social
enterprise is to fulfil
needs of employees.
To enhance society
standards
This firm provides
opportunities to local for
engage them in
business activities.
Large organisation
performed huge number
of operations so job
opportunities are offered
by individuals to large
individuals.
With designing
organisation services
that improves work
standard of society
social enterprise
improves standard of
society.

CONTINUE
Basis Small business Large business Social enterprise
Scale Small business invest
less amount of money
so it operates their
business at a small
level.
As the name suggest
large organisation
perform their work at
large level to earn
more revenue.
This business start
their operations from
local level that satisfy
needs of society in an
organised manner.
Purpose Purpose of small
business and its
entrepreneurs to lead
there life in
comfortable manner.
Large organisation
work for increasing tis
market size through
performing operations
in different market.
The main motive of
social enterprise is to
increase living standard
of society.

CONCLUSION
From the above information it is concluded that entrepreneur are
those individuals who convert and implement theoretical ideas
into reality. Small, large and social are some types of ventures
that are associated with various typologies of entrepreneurship.
Along with this similarity and difference between all ventures is
also included in this report.

REFERENCE
• Goffee, R. and Scase, R., 2015. The Real World of the Small Business
Owner (Routledge Revivals). Routledge.
• Hall, J. and Wagner, M., 2012. The challenges and opportunities of
sustainable development for entrepreneurship and small business. Journal
of Small Business & Entrepreneurship. 25(4).pp.409-416.
• Islam and et. al., 2011. Effect of entrepreneur and firm characteristics on
the business success of small and medium enterprises (SMEs) in
Bangladesh. International Journal of Business and Management.
6(3).pp.289.