Entrepreneurial Ventures: SMEs, Economic Stages & Intrapreneurship

This report discusses the significant role of entrepreneurship, particularly focusing on Small and Medium-sized Enterprises (SMEs), in economic development. It explores the effects of various companies at different economic stages, highlighting the contributions of both multinational corporations and SMEs to their respective industries. The report also contrasts corporate and public intrapreneurship, examining their comparative advantages and differences, particularly in fostering innovation within organizations. Furthermore, it emphasizes the importance of competitiveness and how businesses can outperform rivals by offering greater value to customers. The study concludes that entrepreneurship is vital for the expansion and improvement of both local and global sectors, and that successful entrepreneurs assess market needs, limitations, and strengths to identify potential opportunities. This student-contributed assignment is available on Desklib, a platform offering a range of study tools and resources for students.

Unit 9
Entrepreneurial
Ventures

Table of content:
 Introduction
 Small and medium-sized businesses' (SMEs) effects on the economy
 Effects of various companies at various economic stages
 Comparative Advantages of Corporate and Public Intrapreneurship
 Corporate versus public intrapreneurship differences
 Advantages and Competitiveness
 Conclusion
 References

INTRODUCTION
Entrepreneurs constantly encourage oneself and their
group members to stay engaged in the work at hand and
finish all operations and planned targets in a reasonable
amount of period. This presentation would discuss how
one's temperament could represent their purpose for
starting a business and their attitude and also the various
types of entrepreneurship that are operable in the
market currently.

Small and medium-sized businesses'
(SMEs) effects on the economy
Small and medium-sized firms are of essential relevance to the
development of the industry and the creation of additional
employment. As a consequent result, numerous administrative
entities, academics, scholars, and other individuals often
disagree regarding issues. The issues that SMEs face globally
are comparable. To be sure, different nations have different
perspectives on how SMEs contribute to the growth of the
industry in various ways.

Continue …..
• Small Business have fewer assets than large
organisations, along with a reduced staff and a reduced
annual revenue. Smaller enterprises can be located in a
broad scope of settings, encompassing large towns,
suburbs, and remote locations. Personally owned
companies, partnerships, and sole proprietorships are the
3 commonly prevalent organisational structures for
businesses of this type.

Effects of various companies at various
economic stages
Multinational companies (MNCs) and small and medium-sized
companies (SMCs) both have a role to play in the long-term
sustainability and expansion of their respective industries. By providing
their respective community with the commodities, activities, and
taxation revenue they require, they may do this.

Continue …..
The global economy and corporate sector are
thriving right now. The success of each
company immediately affects the state of the
industry in its entirety. There are 2 basic causes
why businesses are formed.

Comparative Advantages of Corporate and
Public Intrapreneurship
Once all the information is taken into account, the decision which
initially seems to be the finest may not actually be the ideal or
worst option. They are 2 somewhat separate things which might
develop in really various manners. Whenever intrapreneurs decide
to go out on their own, they have had the freedom to run both the
intellectual and administrative aspects of their firms independently.
Most probably won't be capable to handle the pressure of running a
business, though.

Corporate versus public intrapreneurship
differences
The term "intrapreneurship" describes a bottom-up, human-centered
strategy for current companies to produce original concepts.
Whenever employees are offered management roles within the
company and are pushed to come up with, develop, and build around
innovative concepts. This programme intends to consider making it
easier for people to start businesses that have not been previously and
to lessen a few of the difficulties involved in starting one currently.
As a consequence, working as an intrapreneur has many benefits.

Advantages and Competitiveness
A competitiveness advantage is a strategy for individuals to outperform
rivals. Offering clients greater worth for their investment could achieve that.
To encourage customers to return, people must provide them with improved
goods. It's difficult to overstate the significance of smaller firms especially
contrasted to intrapreneurship in large corporations. The study reveals that a
"intrapreneur" is a person who operates within an organisation and therefore
is primarily in charge of developing innovative commercial ideas for that
firm, which highlights the key distinction.

CONCLUSION
From the aforementioned data, it can be inferred that
entrepreneurship plays a significant role in the expansion and
improvement of both the local sector and the worldwide sector.
Additionally, there are a number of company owners who assess the
needs, limitations, and strengths in order to provide them with
prospective prospects from the many markets within which the
company is active.

REFERENCES
Laine, L. and Kibler, E., 2022. The social imaginary of Emancipation in entrepreneurship.
Entrepreneurship Theory and Practice, 46(2), pp.393-420.
Lowe, N.J. and Feldman, M.P., 2017. Institutional life within an entrepreneurial region. Geography
Compass, 11(3), p.e12306.
Mets, T., 2018. Entrepreneurial developments toward a knowledge-based economy in Estonia: The
case of Fits Me–venture-capital-backed startup going global. In Entrepreneurship in Central and
Eastern Europe (pp. 89-111). Routledge.
Ng, P.Y., Wood, B.P. and Bastian, B.L., 2022. Reformulating the empowerment process through
women entrepreneurship in a collective context. International Journal of Entrepreneurial Behavior &
Research, 28(9), pp.154-176.