“An Entrepreneur is an artist whose medium is business“
#According to the type of 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 entrepreneurs are those entrepreneurs who undertake trading activities, they act as a middleman between the manufacturers and customers. they are the Wholesalers, retailers, dealers, 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 undertake agricultural activities.
#According to Motivation
a) Pure Entrepreneur: pure types of entrepreneurs is those entrepreneurs who believe in their own performance. They undertake a business venture for their personal satisfaction.
b) Induced entrepreneur: an Induced Types of an entrepreneur is the person who induced to take up an entrepreneurial activity with a view to avail some benefit from the government.
# According to the use of technology
a) Technical Entrepreneur: Technical Types of entrepreneurs 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 Types of an entrepreneur 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 methods 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:
It requires the commitment of time and exertion.
Includes the creation process.
It requires a presumption of risks.
Includes rewards of being an entrepreneur.
Characteristics/Concept of Successful Entrepreneurship
Passion of business
Knowledge and Skill
- Innovation: Developing is a procedure of making, evolving, testing, changing and reforming. Development is one of the key distinctive qualities of the 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 underway 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
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
I think that an entrepreneur can be both born and made.
See opportunities when others 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