Introduction
An entrepreneur is a person, who adds business to society with innovation in mind. The innovative idea benefits the person along with the economy under which they are working. For a successful business intervention, it is also very necessary for the entrepreneurs to follow the factors that would foster their business along with the factors that could hinder their growth in the market. In the presented report, all these factors would be analyzed with relevant statistics and data. The extent of the importance of small businesses on the economy would be described. The new entrepreneurs would also be advised to follow the success factors of famous entrepreneurs like Bill Gates and Oprah Winfrey.
Activity 1
P1 Examining types of entrepreneurial ventures and their relation to the typology of entrepreneurship
There are mainly three types of entrepreneurial ventures. They are entrepreneurship; intrapreneurship and managerial. According to the viewpoints of Morris et al. (2018), in the entrepreneurial venture, the entrepreneurs are solo individuals, who set a start-up business, which is not on the existing market competition. The entrepreneurs take responsibility for all the rewards and risks as well. Since, the business that the entrepreneurs deal with, are innovative and do not exist in the current market, they often times go out of money. However, they are not bothered by the loss and invest their money in other innovations in case of a failure in business. Intrapreneurs are also of the same kind, who provides new ideas working under an organization and “for the organization”. The entrepreneurs are not bothered by the cost and investment because their actions would be the responsibility of the organizations. Managerial entrepreneurs are regular employees in an organization, who focus their efforts on the growth of the company with a team. Thus, the managerial entrepreneurs work with the team and are not blamed if no innovative ideas come from their way as they are initially just simple employees (Cumming et al. 2018.).
Exploration of the differences and similarities between the entrepreneurial ventures
There are various entrepreneurial ventures. Lifestyle entrepreneurship is a way in which the entrepreneurs pay more attention on the lifestyles of people than the business they are doing. For instance, Oprah Winfrey is a lifestyle entrepreneur as she does business with her passion.
Social entrepreneurship involves the entrepreneurs who form techniques that later turned into a business that the other entrepreneurs and businessmen could apply for the growth of their business. The concept of these entrepreneurs helps to develop, implement and fund solutions for social, or cultural issues. Bill Gates, who has been an icon for social and technical development, can be counted as a social entrepreneur.
| Topic | Lifestyle entrepreneurship | Social entrepreneurship |
| Investment | These entrepreneurs do not need any investors because they themselves fund their businesses. | These entrepreneurs need investors as they would need money to expand their business from the beginning of it. |
| Seeking profit | These entrepreneurs do not seek profit because they run their businesses for the sake of passion. | These entrepreneurs acquire for profit because failure in business would result in problems for them to exist in the market. |
The only similarity both the ventures have is that both of them ultimately create positive outcomes for the people.
M1. Investigate a diverse range of entrepreneurial ventures to demonstrate understanding entrepreneurship in both the corporate and public sectors.
There are mainly three types of entrepreneurship. Entrepreneurship is free of any organization. These people work alone and run their businesses out of passion. However, as stated by Dodgson (2018), intrapreneurs work under organizations and come under the category of the corporate sector. Managerial entrepreneurship, on the other hand, can be a part of the public business. They would provide innovative ideas with a team that would require management. Bill Gates is an entrepreneur, who is also an industrialist. He devoted his life to the development of technology and managed a lot of employees under him to run the business (influenced by Johnson, 2018). While, Oprah Winfrey, who is also famous for her talk shows, has no specific profit in mind to gain money. Thus, she does not fall under the criteria of a corporate entrepreneur.
Loading… 
Reload document 
Open in new tab Best Services
Managing time was challenging for me, but I got the solution to my problems when I hired their experts. They are there to write my college projects, and I need not worry about the grades at least.
Best Services
Thanks guys, I’ve been taking their services for the past five months and was never disappointed.
Best Assignment Help Melbourne
I have so far ordered four hospitality and tourism assignments with this website. For two of the assignment they were done very nicely with all proper writing, referencing and citations and I got a good grade distinction for both of them. I am really happy with the outcome of this Australia assignment help service. My third assignment was actually a dissertation proposal and literature review writing assignment for customer relationship management hospitality course and that one needed a little bit modification as suggested by my professor. I immediately reported the feedback to Cheapassignmenthelp.co.uk and these guys provided me 2 times free rework and in the end that assignment also I got a distinction. So all is well and good for me. I normally pay a decent charge to get a decent quality assignment but I am happy with the overall quality of assignment writing, literature review is good and standard journals and references are used by the writers. Overall customer care is also very helpful and makes sure that I am given a good attention to understand my order details and any rework. Its a fast service and I have received most of my work before 2 days deadline also.
I would give you ration 10
This online assignment site has not only impressed me but my parents as well. After my school, my mother had to spare some extra time to help me with my homework’s and projects and because of this she frequently have to take half time from her office. But from the time I interact with the members of this site, all the problems are completely resolved. I can stay at home and learn under the guidance of expert and my mother no more need to take leave from her work. My grades also showed good improvements. So this site have erased our problems and helped me learn in the homely environment.
Complete your assignment with cheapassignmenthelp.co.uk
It has been a long time when I was working on the project given in the college, but still, I failed to complete it in the desired manner. The date of submission was near and I was worried about the work. Then I got to know about this site from different friends. My work was completed before the allotted time and that too in very impressive and effective way. Cheap assignments were appreciated by teachers and all my fellow classmates. It was a great feeling….
RELATED POSTS
Business Performance Information Assignment Help
Business Performance Information Assignment Help
Impact Of Cyber Security On Business
Business Construction Assignment Help
Business Communication Assignment Help
Small Business Management Assignment Help
Unit 1 Business and The Business Environment
Unit 1 Business and The Business Environment
Unit 1 Business and The Business Environment ,This assignment explores the case of H&M. Hennes and Mauritzis the largest fashion retailer in Europe at the present. Like ZARA, fashionable designs, high quality, affordable prices and its distribution system are keys to its success and rapid expansion worldwide. However, fast fashions, the most important factor of ZARA’s success, is not the one to make H&M more thriving in the market
