very much essential as it influences the economic prosperity and growth of a country. This enables the organization to create a strong free market economy. The entrepreneurs aim to provide assistance in the identification of effective opportunities for the organization. These opportunities help the organization to create innovative and effective services for the society. The present study focuses on the different types of entrepreneurial venture and how they create an impact on the economy. Moreover, the study focuses on the impact of small business on the economy along with assessing the mindset of the entrepreneur that hinders or fosters entrepreneurship.
Large organizations deal with this type of entrepreneurial activities. For maintaining and developing the business operations, large organizations expand their entrepreneurial activities. This activity includes producing new products or services that help in attracting and retaining more customers. The corporate entrepreneurs mainly focus on the organization culture and process for creating a suitable and friendly working environment. This enables them to handle risks efficiently along with gaining more future opportunities.
According to Blackburn (2016), this is an innovative strategy which is used in encouraging the employees of the organization for delivering innovative products and services. After the employee ideas are approved by the high-level organizational management, the organization focuses on financing in the development and research field. This entrepreneurship helps the organization by enhancing the workplace activities.
This consists of the entrepreneurial activities that are all carried out by the government. These type of public sector entrepreneurial organizations aims to offer good services to the people of the nation. Generally, they act as a corporate entrepreneurial venture with the same sort of corporate entrepreneurial principles which helps them to manage the business efficiently.
It consists of the entrepreneurial activities that are mainly performed by the social organizations like NGOs, non-profit organizations and many more. The process assists in identifying various social issues which are mainly performed by the community and the implementation of entrepreneurial activities enable the organization in creating, finding, and managing various ventures.
These entrepreneurial activities are mainly performed by the research and academic institutions. It aims with innovation in enabling the organization to move towards the intellectual property rights. This type of entrepreneurship only exists in research and development enterprises.
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