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Range of Business Ventures Accessible to Entrepreneurs

University: ITCM College London

  • Unit No: 9
  • Level: Undergraduate/College
  • Pages: 17 / Words 4231
  • Paper Type: Assignment
  • Course Code: TNA67
  • Downloads: 2319
Organization Selected : ENSOFT Ltd

INTRODUCTION

An entrepreneur is a person who is the proprietor of a new undertaking, venture or thought and is accountable for the inherent risks and the outcome (Ribeiro-Soriano 2017). Entrepreneurship is the enactment of being a businessperson, which can be characterized as one who undertakes to introduce, plan for finance and business insights. This report is focused on ENSOFT LTD. which is a Small sector administration and is located in United Kingdom. It provides different cutting-edge software that runs in the core of the internet, to keep the world connected. This written report is supported on exploring the range of business ventures accessible to entrepreneurs. Further, it assesses the impact of small business endeavour on the economy. Moreover, it will assess the entrepreneurial mentality and examine antithetic surround that foster and hinder entrepreneurship.

TASK 1

P.1 Different types of an entrepreneurial venture and link with typology's

Entrepreneurship: The activity to setting up the business, talking on financial risk in the hope of profit. Entrepreneurship is one of the fewest originative plans of attack towards the business and enterprise activeness to organize, carry off and lead grouping within the organization towards the organizational end (Linton, Solomon and et.al,. 2017). It is also essential effective entrepreneurship will bring forth affirmative occurrence and betterment for the scheme.

Entrepreneur: A businessperson supply risk capital or a risk-taker, monitor and controller the business concern activities. The enterpriser is usually the sole proprietor and partner or the one who owns the bulk of shares in an incorporated venture. In addition, entrepreneurs should have during the commercial activity, in order to bring command and harmony to the chaos, this affect all the risk that are concealed in the commercial enterprise and marketing human action. One of the most crucial part that businessperson is used creativeness and innovations, which is turned part the growth rate in the marketplace (Mahadea, D 2018). There are some different kinds of entrepreneur venture are as follows :-

  • Life style entrepreneurship :- In life cycle entrepreneurship speculation is give direct impact of internal state of affairs of organisation. In this context, acquire growth as well as sustainability through synthesizing new services and merchandise, and also through with the business concern of the persisting products and services respectively. Life style entrepreneur does not seek investor as they operate their own business with their own medium of exchange.
  • Scalable business start-up venture : The undertaking that have a global dynamical modification entire small sector business concern. This type of businessperson venturer focus more on the quality and creative aspects of small sector business (Mamabolo, M.A and et.al,. 2017). The main aim of such business is indicated the financial investment and the venture capital of fund.
  • Social entrepreneurship: In social entrepreneurship is to evolve the production and employment for betterment, progress of people and societal system. The entrepreneur of this firm is focus on produce and instrumentation product and services that would be lead to effective social group. This will give direct impinging on betterment of the people.

There are some typologies of entrepreneurship are as follows :

  • Individual Entrepreneurship : Individual Entrepreneurship is autonomous and initiative act of citizen of commonwealth and primary aim is to obtain net financial gain, based on the geographical area of individuals themselves and carried out on position of individuals, for their hazard and under their property obligation.
  • Corporate Entrepreneurship : It is a cognitive process used to formulated new business, commodity or employment inside of an existing arrangement to make over value and bring forth new revenue (Laukkanen, M and et.al,. 2018). In this context of use, invention and development one of the most of the essence part for new evolution of small sector commercial enterprise.

P.2 Similarities and differences between entrepreneurial ventures

The similarities and difference between entrepreneurial venture are as follows :

Topic

Social entrepreneurial venture

Life style venture

Investment

Social entrepreneurial activity is seek to the investors, because, businessperson is dilated business concern form the first network and need investor to commit money.

Life style entrepreneur does not seek investor as they causal agent their investment.

Exit strategy

Social entrepreneur is always has an exit plan of action.

Life style entrepreneur is does not have any exist plan and run small sector business with passion.

Location

Social businessperson is limited in object (Amato, C and et.al,. 2017).

In life style entrepreneur does not set any physical object, as they focusing on all single part of business concern.

Profit seeking

In this context, social entrepreneur is always focused into profit.

Lifestyle entrepreneur does not run after profit as they ruin their business.

Donation

Social entrepreneur is donated some part of profit to poor people, when they will be rich.

Life style entrepreneur does not believe such kind of activity in small sector business.

Organisation goal

Social entrepreneur focus to-words organization goal.

Life style entrepreneurship does not concentration as smartly social entrepr

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