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Assignment4 Enterpreneur

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30 views2 pages

Assignment4 Enterpreneur

Uploaded by

Muhammad Afzaal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Assignment # 4

Explain different types of entrepreneurial ventures and relate them with the
typology of Entrepreneurship.

There can be found so many kinds of an entrepreneurial venture, as like small business
entrepreneurship, large company entrepreneurship, survival entrepreneurship, scalable start-up
entrepreneurship, researcher entrepreneurship etcetera. Following are the different types of
entrepreneurial ventures and the typologies they relate to:

1. Small business entrepreneurship relates to an entrepreneurial typology called Solo self-


employed entrepreneurs.
2. Scalable startup entrepreneurship relates to an entrepreneurial typology called craftsman
entrepreneur.
3. Large company entrepreneurship relates to an entrepreneurial typology called opportunist
entrepreneur.
4. Social entrepreneurship relates to entrepreneurial typologies called Social Bricoleurs,
Social constructionists and social engineers.

1. Small Business Entrepreneurship

This venture includes those people who build, establish and run their own business. Such
entrepreneurs run a business on a smaller scale with low capital investment and other
resources. An example includes retailers, grocery stores, dressers and many more. This
venture relates to an entrepreneurial typology called Solo self-employed entrepreneurs.
According to this typology which was proposed by an author named Vesper, entrepreneurs
are engaged in an independent business build on their own. And who is not in any kind of
employment with other organizations.

2. Scalable startup Entrepreneurship

This is a type of venture that requires innovation and creative ideas to establish a business
model to attract venture capitalists and other biggest investors. Such startups enter into the
well-established market and grab new opportunities to grow rapidly. This venture relates to
an entrepreneurial typology called craftsman entrepreneur. According to this typology which
was proposed by Author Smith in 1967, the entrepreneur considers works as a craft. Such a
person creates something unique and thinks out of the box to establish something not only
big and huge but different from anything. So Scalable startup entrepreneurship is related to
this typology in which the idea is to bring something unique in the marketplace.
3. Large Company Entrepreneurship

These companies focus on capturing the large market by introducing the best technologies
and produce goods according to the customers' tastes and preferences. When there is any
change or fluctuation happen in the market or governmental structure of a particular nation,
these big organizations need to redesign or launch a completely new product in the market.
This venture relates to an entrepreneurial typology called opportunist entrepreneurs.
According to this typology which was proposed by Author Smith in 1967, the entrepreneur
wants to grab the opportunity which is favorable for the business as soon as possible. This is
done concerning the changing environment and market conditions so that more profits can be
earned. Such a person makes strategies according to the dynamic environment and captures
every possible opportunity to gain a first-mover advantage.

4. Social Entrepreneurship

These ventures are established with a sole purpose of solving the problem of society or to
serve them in the best possible way. The purpose is not to earn a profit or fill the reserves
with monies but to build trust among society by serving them. Bricoleurs know entering into
a situation and find the solution to the problem with the limited resources available. Social
constructionists do believe that the trend in society related to gender, class, and race is
socially framed by the people but not is reality. They construct knowledge in society with
human interaction. Social engineers plan and implement the strategies to bring a change in
society. Hence all these three typologies are related to social entrepreneurship.

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