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Types of Entrepreneurs

The document discusses entrepreneurship and its importance in the economy. It provides definitions of entrepreneurship and different types of entrepreneurs. It also outlines five benefits of entrepreneurship education for students, including preparing them for an uncertain future, encouraging creativity and collaboration, teaching problem identification, developing grit, and making the world a better place.

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9 views

Types of Entrepreneurs

The document discusses entrepreneurship and its importance in the economy. It provides definitions of entrepreneurship and different types of entrepreneurs. It also outlines five benefits of entrepreneurship education for students, including preparing them for an uncertain future, encouraging creativity and collaboration, teaching problem identification, developing grit, and making the world a better place.

Uploaded by

randolf wassig
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Entrepreneurship is an important engine of growth in the

economy. Entrepreneurship is the willingness to take risk and


develop, organize and manage a business venture in a competitive
global marketplace that is constantly evolving.
Businesses are the backbone of the economy.
Entrepreneurs plays an important role in developing the economy
through providing the needed products and services including the
solution to the problem of unemployment.
Entrepreneurs are pioneers, innovators, leaders and
inventors. They are at the forefront of technological and social
movements – in their fields, in their forward thinking, in their
desire to push the envelope. Entrepreneurs need to have a good
understanding of their markets. They find out what customers
want and modify their products in line with market requirements.
The entrepreneur is commonly seen as a business leader and
innovator of new ideas and business processes.
Entrepreneurs are encouraged by the economy because
they can provide a lot of opportunities for the unemployed young
people. It will increase in per capita income, higher standard of
living and increased individual saving, revenue to the
government in the form of income tax, value added tax, export
duties, import duties, and balanced regional development.

Types of Entrepreneurs
1. Innovative entrepreneur - They are those who always make
new things by thinking of new ideas. They have the ability to think
newer, better and more economical ideas.
2. Imitating entrepreneurs - They are those who don’t create new
things but only follow the ideas of other entrepreneurs.
3. Fabian entrepreneurs - They are skeptical about changes to be
made in the organization. They don’t initiate but follow only after
they are satisfied.
4. Drone entrepreneur - They are those who lives on the labor of
others. They are die-hard conservatives even ready to suffer the
loss of business.
5. Social entrepreneurs - They are those who initiate changes and
drive social innovation and transformation in the various fields
such as education, health, human rights, environment and
enterprise development.

Five Benefits of Entrepreneurship Education for


Students

PREPARE STUDENTS FOR AN UNCERTAIN FUTURE.


We live in an age of unprecedented global and
technological transformation. Today's students face an uncertain
future full of complex global, social, and environmental issues.
According to the World Economic Forum's Future of Jobs survey,
half of today's work activities could be automated by 2055,
creating completely new roles, responsibilities, and challenges for
the future workforce. Therefore, we cannot predict exactly what
our students will need to know after they graduate.
Entrepreneurship-focused programs teach students crucial life
skills that will help them navigate this uncertain future. These
skills include problem-solving, teamwork, empathy, as well as
learning to accept failure as a part of the growth process.

LEAVE ROOM FOR CREATIVITY AND COLLABORATION.


As standardized testing has become more common in
public schools, opportunities for students to innovate and
collaborate with others have become more scarce.
Entrepreneurship education encourages creativity, innovation, and
collaboration. These attributes are highly valued by the top
colleges in the world and will serve your child well beyond middle
school and high school.

TEACH PROBLEM IDENTIFICATION.


Students need to learn how to identify problems before
they learn how to solve them. Problem-solving has been taught in
schools for decades — but the same cannot be said for problem
identification. Traditionally, problem-solving is taught by
presenting students with issues that are already clearly defined by
someone else. In the real world, problems can only be solved
when they have been properly identified and described.
Entrepreneurship education teaches children to identify problems
they have never encountered before — a skill that will be very
useful in tomorrow’s world.
DEVELOP GRIT.
In her bestselling book “Grit,” researcher and professor of
psychology at the University of Pennsylvania, Angela Duckworth
states that “grit” may be the single most important factor in a
person’s long term success. Her research shows that grades,
intelligence, and socioeconomic status do not stack up to the
characteristic she defines as “grit.” According to Duckworth, grit
consists of passion and sustained persistence applied toward long-
term achievement. The demanding and uncertain
entrepreneurship journey requires more passion and sustained
persistence than most other activities. This makes an
entrepreneurship-focused program ideal for developing grit in
your students.

MAKE THE WORLD A BETTER PLACE.


Entrepreneurs seek to solve problems, meet needs, and
ease pain points with the help of their products and services. They
are hard-wired to make a difference and make the world a better
place. By participating in entrepreneurship programs, students
don’t just become ready to create their own futures — they
become ready to change the world.

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