Entrepreneurship and Small Business: Venture Types and Entrepreneurs

This report provides an overview of entrepreneurship, focusing on different types of ventures, including public and corporate sectors. It defines entrepreneurship as the process of taking actions and risks to gain new ideas and opportunities. The report explores the nature and nurture of entrepreneurs, differentiating between born and self-made individuals and examines how background and experience influence entrepreneurs. Case studies of Elon Musk and Richard Branson are included to illustrate these influences. The report concludes by summarizing the key findings and emphasizes the importance of understanding the various types of ventures and entrepreneurial characteristics for success in the business world. References to books and journals are provided.

Entrepreneurship and
Small Business
Management

Table of Contents
INTRODUCTION................................................................................................................................3
1.0 Types of ventures- .....................................................................................................................3
Three type of Public sector ventures are-........................................................................................3
Three corporate sector ventures ......................................................................................................4
Nature and nurture of entrepreneur- ...............................................................................................4
........................................................................................................................................................5
Explain how background and experience influences entrepreneurs social entrepreneurs...............5
CONCLUSION ...................................................................................................................................6
REFERENCES.....................................................................................................................................7
Books & Journal:.............................................................................................................................7
INTRODUCTION

Entrepreneurship is the process through which actions and risks are taken by entrepreneur to
gain new ideas and opportunity. Typology refers to category of business in which they are divided
such as small, medium & social entrepreneurship. This report includes types of ventures, nature
and nurture of entrepreneur, background and experience impact on entrepreneurs.
1.0 Types of ventures-
Public sector ventures- These are defined as organisation which operate under government
consideration and provide services to society. In such type of venture profit earning is motive but
priority is given to public services (Ndoro, 2019).
Three type of Public sector ventures are-
TESCO- It is multinational corporation headquartered in UK and is the largest supermarket
and retail chain. It is also a considered as public limited company because of which fund are easily
raised from new investors. Shares can be sold and traded in TESCO and shareholder has limited
liability.
Apple- It is another public limited company headquartered in California which deals in
consumer electronics and products. So, being a PLC means firm can trade shares and also
information is shared with everyone in entity. Main motive is to earn profit and deliver quality of
services to end users in market (Garg, 2017).
Facebook- It is social networking site which is situated in United States with number of
subsidiaries like Whats-app, Oculus VR etc. This is considered as public limited company in which
individual investors, funds and many more are involved. In this profit is earned through mostly ads-
advertisement. Other than this they also helps citizen of society to connect with each other from
anywhere in the world.
Corporate sector Ventures- These are those types of ventures who provide help to start-ups
in their business. These type of organisation dear profit and also provide social services to others.
Three corporate sector ventures
Google- It is multinational corporation headquartered in U.S.A and which deals in
technology products as well as services. This is a corporate sector venture because it assists new
start-ups and provides funds to their business.
Virgin Money- It is corporate sector which provide funds to the start-ups and new
enterprise coming into business sector. Also, to create brand awareness firm provide gifts and
benefits through social media so that start-ups are able to get investor easily.

Barclays- It is financial investment bank, headquartered in UK. Company is considered as
corporate sector venture because in firm has invested in Bink which is Start-up Company and is a
payment linked loyalty technology which helps customers to collect cards and points whenever they
made a purchase (Selig, 2016).
Nature and nurture of entrepreneur-
Entrepreneurs are of two types of born and self-made and both are different from each other
and possess skills as well as knowledge accordingly.
Elon Musk Richard Branson
He is self-mad entrepreneur and founder of
many subsidiaries companies like PayPal,
Xcom etc. ( Adamu, 2020).
Sir Richard Branson is born entrepreneur who
founded Virgin and at his early age he sold
magazine and earn profit.
Explain how background and experience influences entrepreneurs social entrepreneurs
Elon Musk
Background- Elon Musk was a nerd in his childhood who grew up in science and
technology foundation family. In schools he was good in physics which motivated him to become
engineer. Also, his IQ level was high comparing with others and this gives a boost in his life to
achieve success. At his early age he taught himself about programming and then after years took
interest in business.
Experience- During his 20’s Elon Musk was genius and sold his start up company to
Compaq computers in millions. After that he became founder of companies like Neura-link, Boring
company and many more. Thus business experience made him more motivated and innovative in
business.
Richard Branson
Background- He is born entrepreneur who wish to become business man from his
childhood. He was born in London and his mother was also a successful entrepreneur this motivates
him to do the business.
Experience- During his twenty’s he sold his student magazine and earned profit. Then later
he founded Virgin Group with money making idea and approach. This business experience helps

him to be the leading entrepreneur in the world (Ndoro, 2019).

CONCLUSION
After a brief analysis of above report it is concluded that in business there are various types
of ventures such as public and corporate ventures. It depends upon the entrepreneur to focus on
which venture. Entrepreneur is both born & self-made and are different in perception, behaviour
etc. Experience and background affects the entrepreneur at broader level and decisions are made
accordingly.

REFERENCES
Books & Journal:
Ndoro, 2019. Practices in operating a small business in a host community: a social capital
perspective of Chinese immigrant entrepreneurship within the South African business
context. International Journal of Entrepreneurship and Small Business, 36(1-2), pp.148-
163.
Garg, 2017. Venture boards: Past insights, future directions, and transition to public firm
boards. Strategic Entrepreneurship Journal, 11(3), pp.326-343.
Selig, 2016, June. The Corporate Entrepreneur: A driving force for strategic renewal and radical
innovation in established companies Linking pin and entrepreneurial leader as success factor
of semi-autonomous teams. In 2016 International Conference on Engineering, Technology
and Innovation/IEEE lnternational Technology Management Conference (ICE/ITMC) (pp.
1-10). IEEE.
Adamu, 2020. Nature or Nurture? Entrepreneurs Twofold Assessment in Corporate
Effectiveness. Entrepreneurs Twofold Assessment in Corporate Effectiveness (January 27,
2020).
Chavez, 2016. The personality characteristics of an entrepreneur and their effects on the
performance of a new business venture.