P2 Explore the similarities and differences between entrepreneurial ventures.

Private (independent) Corporate entrepreneur Public sector entrepreneur

entrepreneur
Objectives Have the freedom to exploit Bureaucracy often appears Usually not be bound by
the market and seize when they corporate with some profit, an individual will
beneficial opportunities for others, so corporate types automatically rely on the
the business, always in an require the freedom and strength and values they
independent position and flexibility of project create, they always have a
oriented in detail, with high implementation in order to specific purpose for the
demand for achievements minimize the complexity implementation of their
between working parties, have activities and thereby
specific goal orientations and maintain and expand add to
be able motivated in the course increase the value that the
of business but will be limited by public sector wants to
corporate criteria or rules. achieve.
Focus On the external environment, On innovative activities and On creating value for citizens
competitive environment and orientations; concentrate on the
technological advancement internal and external
environment
Innovation Use innovation to create where all creativity is best The innovation of this kind is
value and seizing that allowed and encouraged in the a combination of taking risks
opportunity without regard application and invention of and having tendencies to
to either resources modern and modern create other opportunities,
technologies doing and implementing
things in a context that
complicates politics and
organization trash is more
convenient.

Table 2: Differences between private, corporate and public sector entrepreneur

Table 2 are the differences in types of entrepreneurial ventures and which have a common
characteristic of innovation and innovation in entrepreneurship. In addition to innovation,
creating innovation in our businesses is another point to create differentiated success.
Innovation is a support arm for entrepreneurs, helping them to explore changes as an
opportunity to have different businesses or services in the market. Innovation has seven
sources of opportunity, namely the unexpected, the incongruity, innovation based on process
need, changes in industry or market structure, demographics, changes in perception, and new
knowledge.