Entrepreneurial Ventures: Unit 9, Entrepreneurship, UKCBC 2020

This essay provides a comprehensive overview of different types of entrepreneurial ventures, focusing on private, public, and social enterprises. It details the characteristics, goals, structures, and employee numbers associated with each type, highlighting their similarities and differences. The essay also investigates the role of both private and public sectors in the development of entrepreneurial models in the UK, emphasizing innovation and economic growth. Examples are provided to illustrate the concepts, and the analysis is framed within the context of entrepreneurship and small business management, particularly relevant for students studying BTEC HND in Business at UKCBC. This document is available on Desklib, a platform offering a range of study tools and resources for students.

ENTREPRENEURSHIP
AND SMALL BUSINESS
MANAGEMENT

Different types of entrepreneurial ventures and explain
how they relate to the typology of entrepreneurship
 An entrepreneurship is a kind of a process in which a new business is designed,
launched and run by an Entrepreneur by using skills, characteristics, resources and
taking huge risk so that they can run their own successful business.
 Entrepreneur is quite different from intrapreneur. Intrapreneur is an employee of an
organization and is paid to work within an organization for business success and prefers
to take least amount of risk whereas Entrepreneur is a person who runs a new business
by taking a considerable amount of risk.
 There are various kinds of typologies of entrepreneurship, such as: female, serial,
lifestyle entrepreneurship and many more.

Conclusion…
There are majorly three main types of entrepreneurial ventures. These three main
types of entrepreneurial ventures and their relationship with entrepreneurship typology
have been explained below:
 Private entrepreneurship:
 It is a simplest form of an enterprise. It is controlled, owned and managed by a single
individual or group of individually personally with a single motive for generating revenue and
profit (Yusup, Rusmana and Rejeki, 2019).
 Private entrepreneurship is mostly started as a sole proprietorship which does not involve
much legal procedure. These types of enterprises mostly start from a micro enterprise but with
continuous innovations or innovative ideas it can convert micro scale organization to a large
size enterprise.
 It can be related to serial and female entrepreneurship topology. This is majorly because today
most of the women focus upon starting their own business in order to become independent
and run their own enterprise.
 According to a statistic more than 30 percent private enterprise are run by female serial and
female entrepreneurs. It can also be linked to lifestyle topology as well because this type of
topology do not require a physical location and can work online as well. For example:
Richard Brandon.

Conclusion…
 Public entrepreneurship:
 It is about doing what it takes to get the right outcome. These enterprises focus upon
involving innovations of those who combine public and private resources in pursuit of their
social objectives.
 This entrepreneurship came into picture because of all the challenges that were faced for
public services and increasing complexities of the society (Septyanto, Anom and Dewanto,
2019).
 These types of enterprises are majorly managed and controlled by government or by
partnership within government of a country.
 This type of entrepreneurship can be linked serial entrepreneurship as in order to provides
products and services to public they need to think of new ideas and implement them within
the organization so that organization can not only provide products and services to public as
per their needs and requirements but can also generate revenue which can further contribute in
overall economy of a country. For example: State economic corporation.

Conclusion…
 Social entrepreneurship:
 These types of enterprises are controlled by private individuals in order to resolve social
problems and deliver products and services to people in order to create a better world.
 These types of enterprises can be both profitable and non-profitable or can be hybrid as well.
 It can be linked to lifestyle typology as in this entrepreneur do not require a physical location
and only focus upon doing work. It can also be related to social typology as well.
 For example: Bill Drayton.

Similarities and differences between
entrepreneurial ventures
Similarities:
All types of entrepreneurial ventures have some differences as well as similarities. Some of
the most common similarities between entrepreneurial ventures are as follows:
 Number of employees within a private and social enterprise completely depends upon
the type of size of the organization (Mokhtar, 2017).
 Main focus of both large and social enterprise is to focus upon making products and
services available to people.

Conclusion…
Differences:
 All the three types of entrepreneurial ventures differ from each other on the basis of
goal, structure and number of employees working for an organization. Main goal and
focus of all the three types of ventures is completely different.
 Different between three types of ventures has been explained.

Continue…
Private Public Social
Goal The main goal of such type of
organization is to achieve
growth, enhance business,
increase revenue and
profitability of the business. It is
one of the main and common
goal of private organizations and
specific goals of organization
complexly depends upon type of
organization.
Main goal of such type of
organizations completely
depends upon the type of
organization sector in which
they are dealing but majorly
there are two main goals of
such type of organizations.
their main goal is to service
people and make products
and services easily available
to people and also to work
upon enhancing overall
economy of a country.
These types of organizations
can be of any type and size
but their main goal is to
product high quality products
and services to the people by
focusing upon reducing
hinderance for people for
buying products and services
required by them.

Conclusion…
Structure Such type of organization does
not have a particular type of
structure but most probability
these types of organization do
have sole proprietorship.
Overall organizational
structure of such type of
organization are quite complex
and depends upon the type and
size of organizations but most
commonly these types of
organizations do have
partnership structure
(Mokhtar, 2017).
Most of the organizations that
do come in this category have
a specific type of structure
and are basically trustee-
based organization.
Employees Number of employees of such
type of organizations majorly
varies from upon their size of the
organization.
Number of employees within a
public organization also depends
upon size of the organization but
are more than 1000.
Number of employees of such
type of organizations majorly
varies from upon their size of
the organization.

Investigate the diverse range of entrepreneurial venture
to demonstrate an understanding in public as well as
private sector
 In UK, both private and public sector is responsible for development of entrepreneurial
model which fully consider as grown model. In order to lead the economic growth and
development.
 Furthermore, it also focused on the socio-economic development and other
achievement of country. Government always support for private organization which
contributing to development of entrepreneurial venture.
 In order to maintain the better effective approach which carried out sustain economic
growth, size the potential opportunities. Furthermore, private as well as public sector
including innovation in term of services and manufacture item on the basis of customer
demands.
 Both kind of enterprises are mainly focused on the expansion and also wanted to reach
out the maximum people. Afterwards, it also motivating and fulfilling the objective of
business.

Conclusion…
 For Example- An entrepreneur venture and its own public sector, the organization
consider as an adherent line of item.
 In order to sell market share in the stock marketplace. There are wide range of
entrepreneurial venture in term of diverse, identify such kind of business purpose and
investment is done.
 In some cases, it can be divided the public as well as corporate sector.

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