ENTREP TYPES OF ENTREPRENEUR Module 4

TYPES OF ENTREPRENEUR
1. What are the various ways of classifying entrepreneurs?

Innovating Entrepreneurs, Imitating Entrepreneurs, Fabian
Entrepreneurs, and Drone Entrepreneurs are the four types of entrepreneurs.
Entrepreneurs that are naturally aggressive and have creativity in their
DNA are considered innovative. Such entrepreneurs produce new goods,
technology, and other advances in a mature economy. Such entrepreneurs
are capable of enhancing current products and technology through the
development of new and improved commodities and technologies.
Entrepreneurs who imitate others and follow in their footsteps are just
mimics. One of them is the adoption of new technology and methods. In a
smart economy, they do not create, but rather imitate existing technologies.
These businesspeople foresee changes and new inventions in the
industrialized world and bring them to the underdeveloped world. These
entrepreneurs not only adapt to changing conditions, but they also change
and adjust to them.
Entrepreneurial Fabians are the type of entrepreneurs includes those
who do not adopt new trends, technology, or inventions and do not abandon
old practices, traditions, or beliefs. They are neither mimics nor innovators;
they are simply those who proceed with the conditions they find themselves
in and employ solely traditional manufacturing techniques. Such
entrepreneurs are slackers who don't want to take chances.
Drone Entrepreneurs are those who live in impoverished nations and
aren't interested in copying new technology or accepting existing technology
in a developed economy. Such entrepreneurs suffer losses because they
continue to use the technologies that are causing them to lose money.
2. Distinguish between a portfolio entrepreneur and a social entrepreneur.
Portfolio entrepreneurs are those who own a minority or majority
stake in two or more distinct businesses that they started, bought, or
inherited. Portfolio entrepreneurs are a type of habitual entrepreneur that is
involved in many businesses at once. By their very nature, these
entrepreneurs have more experience than their less experienced peers, and
studying them should assist to enhance entrepreneurial expertise.
A social entrepreneur is someone who seeks for new applications with
the potential to tackle community-based issues. These people are prepared to
take the risk and put out the effort to make a good difference in society via
their projects.At its most basic level, social entrepreneurship is just doing
business for a good reason. Altruistic entrepreneurship is a term that has
been used to describe this type of business. They don't define success just in
terms of profit; for social entrepreneurs, success includes improving the
world in whichever way they define it.
The core of a social business is the social entrepreneur. In this context,
personal leadership refers to a social entrepreneur's capacity to advance the
social goal, advocate for the cause, and conduct business in a people-
centered manner while also achieving and maintaining financial viability.
3. Who is an entrepreneur? Explain the various types of entrepreneurs.

An entrepreneur is someone who establishes a business and takes on
the most of the risks while reaping the majority of the rewards. The
entrepreneur is usually depicted as a forerunner, bringing new ideas, goods,
services, and/or business procedures to market. An entrepreneur is a person
who starts a new firm and usually invests his or her own money.
Entrepreneurs like as Bill Gates, Steve Jobs, Mark Zuckerberg, Pierre
Omidyar, Arianna Huffington, and Caterina Fake are well-known.
Entrepreneurs may be classified into three categories: creators,
builders, and operators. The Creator is enthralled with a certain product or
concept, possesses a smart and creative mind that is always whirling with
new ideas, frequently has ideas for several various sorts of businesses, and
may find it difficult to focus on just one project at a time. The Builder is
takes a good concept or product and turns it into a business. Has the capacity
to expand the company – frequently a strong seller – motivates people to
contribute to the firm's success, enjoys the excitement of the chase and
seeing the firm expand. The Operator puts systems and procedures in place
to get the firm organized, is generally detail-oriented while looking for ways
to improve the organization. Keeps everything on track and focused on long-
term growth goals.
4. “An entrepreneur is a catalytic agent in economic development.” Explain the

role and significance of an entrepreneur in developing economy with
reference to above statement.
The entrepreneur is a catalyst for change. He produces money, which
leads to more job possibilities and the growth of other aspects of the
economy. As a result, they play an important part in a country's economic
growth.Entrepreneurs play a critical role in a country's economic and
educational growth. If we look at the "economic history" of today's
industrialized nations, such as the United States, Russia, and Japan, we can
see that the economy is a consequence, and the entrepreneur is the cause,
because of their role in bringing innovations, "the entrepreneurs are the
important players in" economic progress, according to Schumpeter.
Entrepreneurs may have a significant impact not just on a country's
industrial sector, but also on its agricultural and agriculture sectors. The
entrepreneur is a catalyst for change. He produces money, which opens up
job possibilities and encourages the growth of other economic sectors.
5. “The entrepreneur is more than a manager. He is an innovator and promoter
as well”. Explain this statement and describe the various types of
entrepreneur.
The key distinction between an entrepreneur and a manager is their
organizational job. An entrepreneur is the company's owner, whereas a
manager is a company's employee. Entrepreneurs are risk takers who put
their business at risk financially.The entrepreneur is frequently portrayed as
an innovator, a provider of novel ideas, products, services, and/or business
processes. Entrepreneurs are critical to any economy because they have the
ability and initiative to foresee requirements and bring brilliant new ideas to
market.

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TYPES OF ENTREPRENEUR

1. What are the various ways of classifying entrepreneurs?

3. Who is an entrepreneur? Explain the various types of entrepreneurs.

4. “An entrepreneur is a catalytic agent in economic development.” Explain the

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