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Types of Entrepreneurs

There are several types of entrepreneurs described in the document. Innovating entrepreneurs introduce new products and methods, while imitative entrepreneurs adapt existing innovations. Fabian entrepreneurs are cautious and skeptical of changes, while drone entrepreneurs resist modifications. Wealth creation entrepreneurs aim for large markets and profits, and lifestyle entrepreneurs prioritize flexibility over vast profits. Social entrepreneurs address social problems through entrepreneurship. Entrepreneurship development programs aim to enhance motivation, knowledge and skills to assist in venture development. Institutions provide training and education to promote entrepreneurship. Performance is judged based on factors like financial results, capacity utilization, and employment.

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7K views

Types of Entrepreneurs

There are several types of entrepreneurs described in the document. Innovating entrepreneurs introduce new products and methods, while imitative entrepreneurs adapt existing innovations. Fabian entrepreneurs are cautious and skeptical of changes, while drone entrepreneurs resist modifications. Wealth creation entrepreneurs aim for large markets and profits, and lifestyle entrepreneurs prioritize flexibility over vast profits. Social entrepreneurs address social problems through entrepreneurship. Entrepreneurship development programs aim to enhance motivation, knowledge and skills to assist in venture development. Institutions provide training and education to promote entrepreneurship. Performance is judged based on factors like financial results, capacity utilization, and employment.

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Types of Entrepreneurs

Innovating Entrepreneurs
• One who introduces new goods, inaugurates
new method of production, discovers new
market and reorganizes the enterprise.
• Such entrepreneurs can work only when a
certain level of development is already
achieved.
• Belong to developed countries.
Imitative Entrepreneurs
• Ready to adapt successful innovations done by
innovating entrepreneurs.
• Do not innovate the changes themselves.
• Mainly belong to underdeveloped countries.
Fabian Entrepreneur
• A Fabian Entrepreneur is one who is very
cautious in taking the decisions, very skeptical,
and takes calculative steps.
• They imitate only in situations where it
becomes necessary to do so.
• Are lazy and shy
• Lack the will to adopt to new methods of
production.
Drone Entrepreneur
•  Drone Entrepreneurs suffer losses, as they
refuse to make any modifications in the
existing production methods.
• They struggle to exist, not to grow.
• They are laggards as they continue to operate
in their traditional way and resist changes.
The Wealth Creation Entrepreneur
• Creates a business with the ultimate goal of
reaching the largest available market whilst
making the highest profit. 
• build businesses like Google, Microsoft, Sony,
Apple, Facebook and so on.
• These entrepreneurs generally make the Forbes
list of wealthiest people in the world over and
over again.
• These guys are good for any country.
The Lifestyle Entrepreneur
• This individual creates a business around their
passions but their primary goal is not vast
profits but rather a rich and flexible lifestyle.
• They just want to be able to live their life doing
what they love and being able to support
themselves and their family as well.
• The business allows them to work extremely
flexible hours, travel the world and afford a life
that you associate with millionaires.
The Social Entrepreneur
• A social entrepreneur is someone who recognizes a
social problem and uses entrepreneurial principles
to organize, create, and manage a venture to
make social change.
• a social entrepreneur assesses success in terms of
the impact on society as well as in profit and return.
• They often operate through non-profits or charities.
• social entrepreneurs act as the change agents for
society,
Social Entrepreneur

Muhammad Yunus 
According to Motivation
• Pure entrepreneur: Motivated by psychological and
economic rewards. Undertakes an activity for his
personal satisfaction in work, ego or status.
• Induced Entrepreneur: Induced due to policy measures
of the Government.
• Motivated Entrepreneur: they come into being
because of the possibility of making and marketing
some new products for the use of consumers.
• Spontaneous Entrepreneur: have a strong conviction
and confidence in their ability. Start their business out
of their natural talents.
According to stages of Development
• First Generations Entrepreneur: An innovator, starts
an industrial unit by means of an innovative skill.
• Modern Entrepreneur: undertakes those ventures
which go well along with the changing demand in
the market.
• Classical Entrepreneur: stereotype entrepreneur,
aims to maximise his economic returns at a level
consistent with the survival of the firm with or
without an element of growth.
Women Entrepreneurs
• The Government of India has defined women
entrepreneurs based on women participation in
equity and employment of a business enterprise.
• Accordingly, a woman enterprise is defined as an
enterprise owned and controlled by a woman
having a minimum financial interest of 51% of
the capital and giving at least 51% of the
employment generated in the enterprise to a
woman.
Problems faced by Women
• Lack of need achievement, economic
independence and autonomy.
• Absence of risk-bearing capacity
• Lack of education skills
• Male dominating society
• Lack of business information and experience
• Heavily involved in family problems
• Social stigma attached to certain vocations
Entrepreneurship Development Programmes
(EDP)
• Entrepreneurs are not necessarily born, they can be
developed through training and education.
• Entrepreneurship development is the process of :
1. enhancing the motivation, knowledge and skills
of potential entrepreneurs.
2. arousing and reforming the entrepreneurial
behaviour in their day-to-day activities and
3. assisting them in developing their own ventures.
Phases
• Pre training Phase
• Development Phase
• Post Training Phase
Institutions Promoting ED
• The National Institute for Entrepreneurship and
Small Business Development (NIESBUD), New
Delhi
• Entrepreneurship Development Institute of India
(EDI), Ahmedabad.
• National Alliance of Young Entreprenuers (NAYE)
• Indian Investment Centre (IIC)
• Technical Consultancy Organisations (TCOs)
• Commercial Banks
Judging Entrepreneurial Performance
• Gestation Period
• Financial Results
• Capacity Utilization
• Expansion and Diversification
• Value added by Manufacture
• Others like employment generated, R & D
activity, Import Substitution, rural
development.

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