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Introduction

Entrepreneurship is the method of launching, designing and running a new business, which is more frequently than not, initially a business, offering a product, service for sale or hire or process. According to the concept, this assignment will cover the aspects of entrepreneur and entrepreneurship (Carter, 2018). Several types of entrepreneurial organisation will be discovered and their state with categorization of entrepreneur will be evaluated in this report. Moreover, taking the help of statistics and data, outcome of mini and small structure will be assessed on the economy of united kingdom in this report. In this report, characteristic, traits and skills of successful entrepreneur will be analysed and how they reflect on their personality will be assessed in this report. Yet, helping in investigation, this report will aim to assess the experience and background of successful entrepreneur.

Task 1

P.1 Types of entrepreneurial ventures and their relationship with typologies of entrepreneurs

In business or enterprise, the person entrepreneur is playing a role of who organises, assumes and manages the risk of an organisation. Nowadays, in a national economy the entrepreneur is playing an important part of growth and development. Entrepreneurial categorisation like every other typology is a classification scheme. There are several ways of entrepreneur which are determined as female, male, social entrepreneur and serial. There are several small and large business administration who in-corporate their business activities efficiently and effectively. In this report, the entrepreneurial ventures and their relationship with typologies of entrepreneur are given as follows:

Small Business Entrepreneurial Venture: in the small business entrepreneurial ventures determined the small or mini scale industry which is considering to be target minimum range of customers and limited paid up capital. The different types of things are including such as store, book shops, groceries, and electronic shops, etc. in the mini and small scale business are mainly considered to be male and female workers who can do work positively in national economy in efficiently and effectively (Cowling, 2018). Moreover, in united kingdom organisation are highly affected by the national economy of the business ventures is in corpora ting in the nation are medium and small scale organisation. Thus in last, concluded that small and medium scale organisation are very basically for the national economy of the country.

Scalable Start-up Entrepreneurship Ventures: in the market, a kind of entrepreneurial venture is newly emerged. To fulfil the customer choice and provide their needs by effectively quality of goods and services to the customers are motive in nature such as scalable start-up entrepreneurship ventures (Cunningham, 2017). The main aim of scalable business organisation is to determined their growth and development by which we offering several products and services to the users. Different types of entrepreneur dealing with scalable start up organisation are serial entrepreneur. The entrepreneur who is coming continuous in nature is coming with unique ideas to start a new venture. This organisation impact on the national economy of united kingdom effectively as, there are several new start up that incorporating in the country efficiently.

Large Organisation and ventures: as overall study and compare that large organisation are opposite of small ventures. They are targetting a large sector of customers and paid up capital is more. In this having a different type of entrepreneurial ventures whose motive is to earn profit and create more income by supplying goods and services in a large segment of customers efficiently and effectively. For example, Aldi, Tesco are some of large ventures incorporating in united kingdom. Furthermore, in order to sustain the market economy the life cycle of the products is limited and management needs to focus on continuous improvement and innovates a new product. Large scale ventures have to focus on continuous innovation in order to sustain in the competitive environment.

Social Entrepreneurial Ventures: the social entrepreneur are considered to be innovators who focus on creating products and services that solving the problem and the social needs of the users. To make a world better in place the unlike scalable entrepreneur is start ups their goal. Not to take or create market share in wealth for the founders. It may be hybrid, profit, non profit,. Maintaining the  benefits of the company and national economy they offering a goods products and services (Henrekson, 2017). This organisation contribute in increasing the country image and goodwill efficiently and effectively in the nature. Social Entrepreneurial ventures are operated by social entrepreneurs who have motive to serve the societies and communities by providing them services that enhances the welfare of the society.

P.2 Similarities and difference between entrepreneurial ventures

Entrepreneurial ventures are similar and different from each other. There are four types of entrepreneurial ventures which has been discussed above. In this section, the difference and similarities between different types of entrepreneurial ventures will be discussed. In this context, the similarities and difference between different types of ventures are described below:

Similarities

Small Scale enterprises

Large Scale enterprises

·       These ventures are similar to the large scale and scalable entrepreneurial ventures in terms of motives and purposes. The motive of these ventures is to earn profits by providing products and services to target customers.

·       These ventures are similar to large scale organisations in respect of products and services provided by them. They provide products to specific group of customers in order to earn higher profits and revenue.

·       These ventures are similar to small scale organisations in terms of their purpose, goals and objectives. The goal of these organisations is to earn profits and revenue to sustain in competitive environment.

·       These ventures are similar to scalable ventures as they have to work on continuous improvements and innovation to provide customers with unique and upgraded products.

Scalable Enterprises

Social Enterprises

·       Scalable enterprises are similar to social enterprises as they work for common purpose and motives.

·       These enterprises are similar to small scale enterprises in the way of doing business activities and operations.

·       Social enterprises are similar to scalable organisations in terms of innovation and development of services in order to provide quality services to th