Assignment on Entrepreneurship

There are different types of entrepreneurial ventures that are explained in detail.

Entrepreneurial

It can be noted that an entrepreneur is such a person that is involved in starting their own business through its innovative idea. He has a restricted number of sources and also able to bear high-quality risks. The product or services for the business plan must be innovative that must be solving the problem of the world. On the other hand, it will not be associated with the existing business. Due to this, these entrepreneurial ventures are involved in high-returns, but it contains a high amount of risk. He is that person that will never care about the money problem and also able to put his money at stake by spending money on uncertain projects.

Intrapreneurship

This is also like an entrepreneur, but in this type, there are different managers involved. In that type, all individuals that are participating in the entrepreneurial activity are involved in solving the problem of the company and the people that are related to the organization by taking the risk. In that case, all benefits will be given to the whole company, and also risk is taken by the company on behalf of these people. It can be noted that an intrapreneur is involved in focusing on such problems and issues that are related to the company. All of these specific issues in the company can be overcome with the special kind of skills that will help the organization to increase productivity.

Moreover, it can be seen that an intrapreneur person has the ability to move through some innovative stages in a proper way for stabilizing the position of the company in the market. The next thing is that they love freedom and also wanted to work for the benefit of the organization. Furthermore, they are also able to develop different workflow charts that can easily visualize the challenges and competitions that are faced by the company and also how the company is able to mitigate with the complete swing.

Managerial of Entrepreneurship

This is another one of the most important entrepreneurial ventures in which the individual is involved in properly managing the people to carry out the work. These are the pain individual in the organization that has complete authority to apply any change in the organization. It can be seen that if there is a requirement of any change in the organization, then the managers of the company work for it. In managerial entrepreneurship, the quality of risk is extremely minimum. The main reason is that the company is paying for the change, and the individual has to take the initiative and make a proper plan for applying any change. But it is their duty how they will divide that change properly for the company. Moreover, these persons are also responsible for the whole day activities, and they are also working in the organization to apply that change in an efficient way for its betterment. They are also working on increasing the efficiency of the workers and also how they can easily relate one thing to the other.

Similarities and differences between entrepreneurship ventures

There are some similarities and differences that are present between the different entrepreneurship ventures. Moreover, two different types of entrepreneurship are related to each other. The first one is a lifestyle, and the second one is related to social entrepreneurship.

Social entrepreneurship

In this type of entrepreneurship, the entrepreneurs are involved in working with the company. On behalf of the company, they are introducing new techniques that will overcome the main issues and problems of the companies. This concept may be varied from one organization to the other, and it is dependent on the size and nature of the company. In this entrepreneurship, the companies are supporting the entrepreneurs by investing in them and guiding them about the issues in a proper way.

Lifestyle entrepreneurship

In that particular type, the individual is involved in creating his own business for earning profit and also wanted to alter its lifestyle. In other words, the entrepreneur is involved in starting his business to gain profit by expanding it. This can be explained with a simple example that one individual is an entrepreneur, and he is working with an extreme passion for improving his lifestyle.

On the other hand, the similarities and differences can be explained through the help of a table

 Diverse range of entrepreneurial ventures

It can be seen that Pakistan is considered as a developing country. Due to this, it will be extremely difficult for the entrepreneur to run a business correctly without any risk. Therefore, there is a need to investigate a diverse range of entrepreneurial ventures for understanding the rate of entrepreneurship in different important sectors of Pakistan. The rate is extremely important. Through this, there will be a chance for new entrepreneurs to run their business in this country.

There are three main stages of entrepreneurial ventures.

Entrepreneurial

It can be noted that an entrepreneur is such a person that is involved in starting their own business through its innovative idea. He has a restricted number of sources and also able to bear high-quality risks. The product or services for the business plan must be innovative that must be solving the problem of the world. As it can be noted that Pakistan is a developing country due to this, their economy is not stable. This shows that there will be a high-quality risk for the new entrant in the market. Therefore, there are many people with extraordinary innovative skills are unable to become an entrepreneur because of failure. But some people who belong to the big background are applying their opportunities by opening a new business and solving important problems for the people.

Intrapreneurship

This is also like an entrepreneur, but in this type, there are different managers involved. In that type, all individuals that are participating in the entrepreneurial activity are involved in solving the problem of the company and the people that are related to the organization by taking the risk. In that case, all benefits will be given to the whole company, and also risk is taken by the company on behalf of these people. In Pakistan, there is some support for the intrapreneurs that can easily solve important issues of the company through their best ideas. The companies are supporting intrapreneurs. There are many entrepreneurs in Pakistan moving towards the intrapreneurs field. The main reason is that they wanted to take minimum risks. This is the reason why they seek for the organization or investor that will support him for running their business.

Managerial

This type of entrepreneurial venture is not common in Pakistan. The main reason is that they are not working on taking their initiative to apply any change in the organization. This is another one of the most important entrepreneurial ventures in which the individual is involved in properly managing the people to carry out the work. These are the pain individual in the organization that has complete authority to apply any change in the organization. It can be seen that if there is a requirement of any change in the organization, then the managers of the company work for it. The companies of Pakistan that may belong to the public or private sectors are following the rules and regulations of other big countries for their benefits. They are just working off their change strategies, and also the manager is handling according to their organizational structure. There are about a few companies in the private sector that are working on organizational change according to their demand.

Analysis of complexities of different types of business structures in Pakistan

It can be noted that there are about three main types of business structures in Pakistan. All of these types are struggling with different types of complexities and difficulties. The main reason is that this country is not economically strong like the developed countries in the world. This is the reason why the rate of a sole proprietorship is extremely limited in that country.

On the other hand, there are also quite low companies that moving forward through a partnership. The next thing is that there are some multinational companies that are involved in opening their business in that company to gain a high quality of profit. But the main thing is that their resources are too low. This is because the government has put different income taxes and other corporate taxes due to this, the complexities are increased. On the other side, there are different organizations that contain complex operations, and also it will become extremely difficult for them to manage it in a proper way.