Classification of Entrepreneurs

By prof D.V. Shirbhate Principal Vikarmshila Polytechnic Darapur www.vikramshiladarapur.org

Classification of Entrepreneurs
Based on Functional Characteristics. Based on Developmental Angle. Based on Types of Entrepreneurial Business. Based on the nine Personality Types of Entrepreneurs. Based on Types of Motivation. Based on Types of Area. Based on Types of Gender.

Based on Functional Characteristics

Innovating Entrepreneur: One who introduces new goods, inaugurates new methods of production, discovers new market and reorganizes the enterprise. Imitative Entrepreneur: One who is ready to adopt successful innovations inaugurated by innovating entrepreneurs. Fabian Entrepreneur: One who is very cautious and skeptical about experimenting any change in the enterprise. Drone Entrepreneur: One who refuses to adopt opportunities to make changes in production even at the cost of severely reduced returns.

Based on Developmental Angle

Prime Mover: this entrepreneur sets in motion a powerful sequence of development, expansion, and diversification of business. Manager: Such an entrepreneur does not initiate expansion and is content just staying in business. Minor innovator: this entrepreneur contributes to economic progress by finding better use for existing resources. Satellite: This entrepreneur assumes a suppliers role and slowly moves towards a productive enterprise. Local trading: Such an entrepreneur limits his enterprise to the local market.

Based on Types of Entrepreneurial Business

Manufacturing: an entrepreneur who runs such a business actually produces the products that can be sold using resources and supplies. Wholesaling: An entrepreneur with such a business sells products to the middle man. Retailing: An entrepreneur with such a business sells products directly to the people who use or consume them. Service: An entrepreneur in this business sells services rather than products.

Based on the nine Personality Types of Entrepreneurs

The Improver: if you operate your business predominately in the improver mode, you are focused on using your company as means to improve the world. The Advisor: This business personality type will provide an extremely high level of assistance and advice to customers. The Superstar: Here the business is centered on the charisma and high energy of the superstar CEO. The Artist: This business personality is the reserved but a highly creative type. As an artist type youll tend to build your business around the unique talents and creativities that you have.

Based on the nine Personality Types of Entrepreneurs

The Visionary: A business built by a visionary will often be based on the future vision and thoughts of the founder. The Analyst: if you run a business as an Analyst, your company focus in on fixing problems in a systematic way. Often the basis for science, engineering or computer firms, analyst companies excel at problem solving. The Fireball: A business owned and operated by a fireball is full of life, energy and optimism.

Based on the nine Personality Types of Entrepreneurs

The Hero: You have an incredible will and ability to lead the world and your business through any challenge. The Healer: If you are a healer, you provide nurturing and harmony to your business. You have an uncanny ability to survive and persist with an inner calm.

Based on Types of Motivation

Pure Entrepreneur: Individual who is motivated by
psychological and economic rewards. The basic objective is to earn profit. Induced Entrepreneur: One who is induced to take up entrepreneurship due to government assistance, rewards, concessions etc. Motivated Entrepreneur: Motivated by the desire for self-fulfillment & self-actualization. Spontaneous Entrepreneur: These entrepreneurs start business by their natural talent.

Based on Types of Area

Urban Entrepreneur: One who has his industrial unit in urban area and has engaged workers from that area. Rural Entrepreneur: One who has its industrial set up in rural area and has engaged workers from the same area.

Based on Types of Gender

Male Entrepreneur. Women Entrepreneur.

Reference
Charantimath P.M., (2008), Entrepreneurship Development & Small Business Enterprise, Third Edition, Pearson Education, New Delhi. & Other Sources.