Types of Entrepreneur
#According to type of business#
“An Entrepreneur is an artist who’s medium is business“
1.Business Entrepreneur: a Business entrepreneur is that entrepreneur person who discovers an idea to build a business and then build a business to give birth to his idea.
2. Trading Entrepreneur: Trading entrepreneur are those entrepreneurs who undertake trading activities, they act as a middleman between the manufacturers and customer. they are the Wholesalers, retailers, dealer etc.
3. Industrial Entrepreneur: an Industrial entrepreneur is those entrepreneurs who undertake manufacturing activities.
He is a product-oriented man.
4. Corporate Entrepreneur: corporate entrepreneur are those entrepreneurs who organizing and managing a corporate undertaking
It is a form of business organization which is registered under some statute or Act which gives it a separate legal entity.
5. Agricultural Entrepreneurs: Agricultural entrepreneur is those entrepreneurs who undertakes agricultural activities.
#According to Motivation
a) Pure Entrepreneur: a pure entrepreneur is those entrepreneurs who believe in their own performance. They undertake a business venture for their personal satisfaction.
For example, Dhirubhai Ambani of Reliance Group
b) Induced entrepreneur: an Induced entrepreneur is the person who induced to take up an entrepreneurial activity with a view to avail some benefit from government.
# According to use of technology
a) Technical Entrepreneur: Technical Entrepreneur are those people who are extremely task-oriented, They develop new and improved quality goods, They concentrate more on production than on Marketing
b) Non-technical Entrepreneur: They develop marketing techniques and distribution strategies to promote their business, They concentrate more on marketing aspects.
c) Professional Entrepreneur: professional Entrepreneur are those entrepreneurs who start a business unit but do not carry on the business for a long period, They sell out the running business and starts another venture. They focus mainly on the floating of the business
#Stage of Development
a) 1st generation Entrepreneur: They are those who start an industrial unit by means of his own innovative ideas and skills. They are the innovator, they don’t have any history.
b)2nd generation Entrepreneur/Modern entrepreneur: The entrepreneur are those who undertake those businesses which suit the modern marketing needs.
c)Classical Entrepreneur: They are those entrepreneurs who develop a self-supporting venture for the satisfaction of customers.
#Classification by Danhof
a) Innovative Entrepreneur: They are those entrepreneurs who are always interested in introducing innovations, They introduce the new goods, a new method of production etc.
b) Imitative Entrepreneur: They do not innovate the changes themselves they only imitate techniques and technology innovated by others.
c) Fabian Entrepreneur: they neither introduce new changes nor adopt new method innovated by other entrepreneurs, They take up new projects only when it is necessary to do so.
d) Drone Entrepreneur: They would not change the method of production already introduced, They may ever losses but they not ready to make changes in their existing production method.
# According to capital ownership
a) private ownership: When the enterprise is set up by an individual or group of individual privately, by arranging finance, by bearing risk, by adopting the latest techniques in the business
b) State Entrepreneur: It means that the individual venture is undertaken by the state or government itself.
c) Joint Entrepreneur: Combination of Private Entrepreneurs and State Entrepreneurs.
# According to Scale
Micro-Entrepreneur: They invest in plants and machinery not more than Rs 1 crore.
Medium Entrepreneur: These Entrepreneurs are those persons who are engaged in industries which are working on optimum size.
Large Entrepreneur: Where there is a large number of workers, a continuous supply of raw materials etc.
Entrepreneurship is the way toward making something new and expecting the dangers and prizes.
Four-part of entrepreneur today:
Requires commitment of time and exertion.
Includes creation process.
Requires presumption of risks.
Includes rewards of being an entrepreneur.
Characteristics/Concept of Successful Entrepreneurship
- Passion of business
- Knowledge and Skill
- Risk Taking Ability
Importance of Entrepreneurship
- Innovation: Developing is a procedure of making, evolving, testing, changing and reforming. Development is one of the key distinctive qualities of entrepreneurial movement. The enthusiastic drive and exceptional appetite of business people to manufacture new bearings items and forms and to go out on a limb get under way a progression of choices that prompt the advancements that are critical for financial imperativeness. Without these new thoughts, monetary, innovative, and social advancement would be moderate to be sure.
- Job creation
- National Income
- Big organization
- Standard of Living
As the term itself signifies, ED is a program intended to create entrepreneurial capacities among the general population. At the end of the day, it alludes to teaching, improvement, and polishing of entrepreneurial aptitudes into a man expected to build up and effectively run his/her undertaking. Accordingly, the idea of business improvement program includes outfitting a man with the required skill and information required for beginning and running the undertaking. entrepreneurship development course India
successful entrepreneurs stories Entrepreneurship examples#”Types of Entrepreneur”
RATAN TATA-TATA GROUPS
ANAND MAHINDRA-MAHINDRA GROUP
Ritesh Agarwal. He is the man behind the OYO Rooms.
Flipkart founder Sachin Bansal,
Snapdeal’s Kunal Bahl
Conclusion: I think that an entrepreneur can be both born and made.
I See opportunities when other see Impossibility. I Believe Anything Is Possible I Take Risks. I’M Focused. I Hustle I Know That Nothing Is Unrealistic I feel Overwhelming Love Embrace My Childlike Wonder & Curiosity I Take Flying Leaps Into The Unknown I Contribute to Something Bigger Than Myself
I Create> I Learn> I Grow>
I do Believe It’s Never Too Late to Start Living A Dream
I AM AN ENTREPRENEUR