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.