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Types of entrepreneurship characteristics and tips

Types of entrepreneurship

Entrepreneurship

A types of entrepreneurship: characteristics and tips to start process that involves multiple activities to provide solutions to people’s problems. But each business must focus on a specific activity. And solve a particular need. For this reason, there are types of entrepreneurship. In this article we describe the types of entrepreneurship and what their respective characteristics are.

Types of entrepreneurship

Scalable business

Scalable ventures are companies that start small, but have great growth projections in the short and medium term. These are companies with repeatable and scalable business models from the start. These businesses have the advantage that they can attract the interest of venture capital investors. Investments that are essential to achieve the rapid expansion required by these companies.

Rappa is a tangible example of this type of entrepreneurship. As of 2018, it had received nearly $500 million in investment funds. It recently received a $1 billion equity investment from Japan’s SoftBank group . Thanks to these capital injections, Rappa has been able to scale its business model in each country in which it operates.

Also read: shlomorechnitz.net

Social entrepreneurship

This is one of the types of entrepreneurship that does not have as a priority to gain a market share. Its objective is to solve a problem of society. The priority is to comply with ethical, social and environmental objectives. Is it possible to do business through social entrepreneurship? Of course yes. In fact, the 2018 Foretake Report reveals that “48% of respondents say they adopt lifestyle habits with a positive impact on society or the environment.” In other words, social entrepreneurship has a secure and committed market. Benita Aurora is an example of social entrepreneurship. The company sells cosmetic items, made by hand by women victims of the armed conflict and domestic violence. In addition, it uses natural ingredients in all its products.

Innovative business

These are products and services that arise from a research and development process, the result of which is innovation. This venture has a competitive advantage over the rest. This is so because it guarantees the solution of a specific problem in your market niche. Innovative entrepreneurship generates and encourages creativity and innovation within companies. In fact, it is the source that feeds the Innovation and Development (R&D) departments in corporations.

The creators of Families took advantage of a gap in the health market to innovate with their product. It allows everyone who needs help to take care of themselves to find it in their directory. This marketplace is aimed at professional caregivers of the elderly, the sick and people with disabilities.

Public entrepreneurship

It is the Types of entrepreneurship: characteristics and tips to start governments execute through their development agencies. These have the objective of satisfying a social need or innovating in matters of legal, tax or development regulation. Also included in this category are innovations in the provision of public services.

Sometimes it is confused with social entrepreneurship, which can be by public or private initiative. But public enterprise is exclusive to the government. We have an example in the government of the Dominican Republic. Services such as consultation of traffic tickets and document processing consisted of slow, chaotic processes that encouraged corruption. With *465 and the Dominican Digital portal , the government centralized all these procedures. Now, it facilitates quick and transparent processes for citizens.

Also read: https://www.linkedin.com/in/shlomo-rechnitz

Administrative entrepreneurship

It deals with the improvement of techniques and administrative functions. Total quality management, work redesign or participatory management are some examples of administrative entrepreneurship. The goal is to increase the overall effectiveness of the organization to make it more competitive. Many companies motivate their staff to undertake to innovate in these improvements. But they can also hire an external company. Honduran startup CloudBiz , for example, offers software for inventory storage and processing, accounting, and sales.

It is available through a mobile application. CloudBiz helps entrepreneurs and micro-entrepreneurs to manage their businesses at low cost. According to Caro L. (s/f) there are other types of entrepreneurship : imitative, individual, massive, private and an masse. However, the five mentioned are the main ones, since the others do not have much difference between them. An innovation that solves a market problem can fall into the category of social, private and individual entrepreneurship at the same time.

Social entrepreneurship

This is one of the types of entrepreneurship that does not have as a priority to gain a market share. Its objective is to solve a problem of society. The priority is to comply with ethical, social and environmental objectives. Is it possible to do business through social entrepreneurship? Of course yes. In fact, the 2018 Foretake Report reveals that “48% of respondents say they adopt lifestyle habits with a positive impact on society or the environment.” In other words, social entrepreneurship has a secure and committed market. Benita Aurora is an example of social entrepreneurship. The company sells cosmetic items, made by hand by women victims of the armed conflict and domestic violence. In addition, it uses natural ingredients in all its products.

 

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