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ENTREPRENEURSHIP DEVELOPMENT
(PART III)
Classification of Entrepreneurs
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Clarence Danhof
Innovative Entrepreneur:
These are the ones who invent the new ideas, new products, new production methods or processes. They are always ready to take a risk.. Ratan Tata is said to be an innovative entrepreneur, who launched the Tata Nano car at a considerably low cost.
Imitating Entrepreneurs:
The imitating entrepreneurs are those who immediately copy the new inventions made by the innovative entrepreneurs. These do not make any innovations by themselves; they just imitate the technology, processes, methods pioneered by others.
Fabian Entrepreneurs:
These types of entrepreneurs are skeptical about the changes to be made in the organization. They wait for some time before the innovation becomes well tested by others and do not result in a huge loss due to its failure.
Drone Entrepreneurs:
These entrepreneurs are reluctant to change since they are very conservative and do not want to make any changes in the organization. They do not want to change even if they are suffering the losses.
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Classification Based On Type of Business
Trading Entrepreneur
They are in business for trading purposes, i.e. they buy from manufacturers and sell as wholesalers or retailers to consumers.
They are in business for trading purposes, i.e. they buy from manufacturers and sell as wholesalers or retailers to consumers.
Agricultural Entrepreneurs
They are also called “Agric-entrepreneurs”. They are those enterprisers within the agricultural sector who are engaged in the cultivation, production and marketing of agricultural products.
They are also called “Agric-entrepreneurs”. They are those enterprisers within the agricultural sector who are engaged in the cultivation, production and marketing of agricultural products.
Industrial Entrepreneurs
Basically a manufacturer. Identifies customers need and manufacture products which satisfy their need.
Basically a manufacturer. Identifies customers need and manufacture products which satisfy their need.
Service entrepreneurs
A person who initiate various kinds of service activities
Retail entrepreneurs
One who promotes and operates a retail business
A person who initiate various kinds of service activities
Retail entrepreneurs
One who promotes and operates a retail business
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Classification Based On Type of Technology Used
Technical Entrepreneurs
Those who make use of science and technology in running their businesses, they are innovative entrepreneurs who apply new innovations and technologies in running their businesses.
Non-technical Entrepreneurs
They are no concerned with technical aspects of the products.
Professional entrepreneur
A professional entrepreneur is a person who is interested in establishing a business but does not have interest in managing or operating it once it is established. A professional entrepreneur sells out the running business and starts another venture with the sales proceeds.
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Classification on the basis of motivation
Pure entrepreneur:
A pure entrepreneur is an individual who is motivated by psychological and economic rewards. He undertakes an entrepreneurial activity for his personal satisfaction in work, ego, and status.
Induced Entrepreneur:
He is the person who is induced to take up an entrepreneurial task due to the policy measures of the government that provides assistance, incentives, concessions, and necessary overhead facilities to start the venture.
Motivated entrepreneur:
Motivated by the chanced making and marketing some new product for the use of customers. If the product is developed to saleable stage, the entrepreneur is further motivated by reward in terms of profit.
Spontaneous Entrepreneur:
These entrepreneurs start their business because of their natural talents. Such entrepreneurs have a strong conviction and confidence in their inborn ability
These entrepreneurs start their business because of their natural talents. Such entrepreneurs have a strong conviction and confidence in their inborn ability
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Classification on the basis of Growth
Growth Entrepreneur:
Growth entrepreneurs are those who necessarily take up high growth industry which has substantial growth prospects.
Growth entrepreneurs are those who necessarily take up high growth industry which has substantial growth prospects.
Super Growth Entrepreneurs:
Attempt to bring about super growth of performance in his industry activity
Attempt to bring about super growth of performance in his industry activity
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Classification on the basis of stages of Development:
First-generation entrepreneur:
A first generation entrepreneur is one who starts an industrial unit by innovative skills. He is essentially an innovator, combining different technologies to produce a marketable product or service.
Modern entrepreneur:
They undertake those ventures which suit the current marketing needs.
Classical entrepreneur:
A classical entrepreneur is one who is concerned with the customers and marketing needs through the development of the self-supporting venture
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Classification on the basis of scale of operation
Small Scale Entrepreneurs
An entrepreneur who runs an enterprise that employs between 1-35 people and whose sales volume are low. Aim at a small amount of profit
An entrepreneur who runs an enterprise that employs between 1-35 people and whose sales volume are low. Aim at a small amount of profit
Medium Scale Entrepreneurs
Carries business operations on a medium – scale basis
Carries business operations on a medium – scale basis
Large Scale Entrepreneurs
Carries business operations on a large – scale basis, aim at a high profit
Carries business operations on a large – scale basis, aim at a high profit
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