Question

There are three characteristics that distinguish the entrepreneurial venture from the small business. In light of these three characteristics, critically discuss how the principal objectives are directed to bring about profitability and growth.

Answer 1

The three characteristics that distinguish the entrepreneurial venture from the small business are innovation, scalability, and risk-taking. In terms of profitability and growth, the principal objectives of an entrepreneurial venture are directed towards maximizing profits by identifying and exploiting market opportunities and scaling the business model.

Step-by-step explanation:

The three characteristics that distinguish the entrepreneurial venture from the small business are innovation, scalability, and risk-taking.

In terms of profitability and growth, the principal objectives of an entrepreneurial venture are directed towards maximizing profits by identifying and exploiting market opportunities and scaling the business model. Entrepreneurial ventures typically seek rapid growth and expansion by attracting investors, leveraging technology, and implementing efficient business strategies.