Types of Entrepreneurs

TYPES OF
ENTREPRENEUR
3G Elearning - Entrepreneurship
TYPES OF ENTREPRENEURS
1. Classification on the Basis of Ownership
2. Classification on the Basis of Personality
Traits and their Style of running the
Business
3. Classification based on type of Business
4. Classification on the Stages of
Development
5. Others
1. CLASSIFICATION ON THE BASIS OF
OWNERSHIP
A. Founder or “Pure Entrepreneurs” –
those individuals who conceptualize a
business plan and then put in efforts to
make the plan a success
ROBERT SY (Jocker’s Food Industry)
CECELIO PEDRO – LAMOIYAN CORP.

B. Second-Generation Operators of
Family-Owned Business – they are
individuals who have inherited the business
from their fathers and forefathers
C. Franchisees – It is a method of doing
business wherein the parent owner
licenses his trademarks and tried and
proves methods of doing business to a
franchisee in exchange for a recurring
payment
D. Owner-Manager – when a person buy

a business from the founder and then
invests his time and resources in it, he is
called the owner-manager.
2. CLASSIFICATION ON THE BASIS OF PERSONALITY TRAITS AND
THEIR STYLE OF RUNNING THE BUSINESS
A. The Achiever – these types of entrepreneurs have personal
desires to excel. The only drive that pushes them is the desire to
achieve something in life, the desire to make a mark in society,
the desire to prove their excellence. They do not need any
external stimulus but are self-driven.
B. The Induced Entrepreneur – are induced by some external

factors to start a business. The external factors could be like:
Government Policies, Unemployment, Family Support,
Facilitating Institutional Support etc.
C. The Idea Generator – These kinds of entrepreneur are highly creative
people who are always in search of innovative ideas for setting up new
business ventures. They enjoy the first and are able to skim higher profits
from the market.
D. The Real Manager – The real managers run the business in a systematic
manner. They analyse business situation, assess the demands of future, both
in terms of opportunities and threats and then take actions based on the
above assessments.
E. The Real Achievers - The real achievers are full of life. They are looking
for the achievement of not even their goals but also of people associated with
themselves like employees, suppliers and distributors.
3. CLASSIFICATION BASED ON THE TYPE OF
BUSINESS
A. Industrial Entrepreneur – is an entrepreneur
who is into manufacturing of a product. He
identifies the needs and wants of customers and
accordingly manufacturers products to satisfy
these needs and wants.
B. Trading Entrepreneurs – is one who

undertakes trading activities and is not concerned
with the manufacturing of products. He identifies
potential markets, stimulates demands and
generates interest among buyers to purchase a
product.
C. Corporate Entrepreneur – is a person
who demonstrates his innovative skill in
organizing and managing a corporate
undertaking which is registered under some
act that given it a separate legal entity.
D. Agricultural Entrepreneur – are those

entrepreneurs who undertake business
related to agricultural activities. Like farm
equipment’s, fertilizers and other inputs of
agriculture.
4. CLASSIFICATION ON THE STAGES OF DEVELOPMENT
A. First Generation Entrepreneur – is one who starts an
industrial unit by means of an innovative skill. He is essentially
an innovator combining different technologies to produce a
marketable product or service.
B. Modern Entrepreneur – is one who undertakes business
to satisfy the contemporary demands of the market. They
undertake those ventures which suit the current socio-cultural
trends.
C. Classical Entrepreneur –a stereo-type entrepreneur
whose aim is to maximize the economic returns at a level
consistent with the survival of the firm, with or without element
of growth.
OTHERS
1. Innovative Entrepreneur – are full of
creative ideas and offer innovative
products to the society. It is because of
these innovative entrepreneurs that many
important changes occur in our society.
2. Imitative Entrepreneurs – Imitative

Entrepreneur adapt a successful
innovation. They are risk-aversive and so
they do not try out new ideas or products.
3. Drone Entrepreneurs – Drone Entrepreneurs
are not open to creativity and change. They do not
like changing the working of organizations with the
changing times. They are characterized by a
refusal to adapt any change even at cost of
severely reduction of profit.
4. Copreneurs – When both husband and wife
together start and run a business venture then
they are called copreneurs.
5. Fabian Entrepreneurs – are characterized by
very great caution and scepticism to experiment
any change in their enterprises. They usually do
not take any new challenge. They imitate only
when it becomes perfectly clear that failure to do
not so would result in a loss of relative position in
the enterprise.
6. Solo Operators – These are the entrepreneurs
who essentially work alone and if needed at all
employ a few employees. In the beginning most of
the entrepreneurs start their enterprises like them.
7. Active Partners – Active Partners are those

entrepreneurs who start or carry on an enterprise as
a joint venture. It is important that all of them actively
participate in the operations of the business.
8. Innovators – Such entrepreneurs with their

competence and creativity innovate new products.
Their basic interest lies in research and innovative
activities.
9. Buyer’s Entrepreneurs – These are the
entrepreneurs who do not like to bear much risk.
They do not take the risk of production but take the
risk of marketing a product i.e. wholesaler and
retailer.
10. Life Timers – These entrepreneurs believe
business as an integral part of their life. These
entrepreneurs actually inherit their family business
i.e. goldsmith potter etc.
11. Challengers – these are the entrepreneurs who
initiate business s because of the challenges it
presents. They believe that ‘No risk, No gain’. When
one challenge seems to be met, they begin to look
for new challenges.
12. Social Entrepreneur – The Social Entrepreneur is
primarily motivated by a deep desire to improve upon, or
fundamentally change, prevailing and detrimental socio-
economic, educational, environmental and health conditions.
Social Entrepreneurs are innovators focus on creating
products and services that solve social needs and problems.
Their goal is to make the world a better place, not to take
market share or to create to wealth for the founders. They
may be nonprofit, for-profit or hybrid.
13. Serial Entrepreneur – The serial entrepreneur
consistently conceptualizes and executes business models
the s/he intends, ultimately, to sell to shareholders, investors,
or other businesses. Serial Entrepreneurs can be seen to
take on relatively high amount of risk, display an ability to
effectively handle the accompanying stress as they are
usually very adaptable to changing conditions, and more
often that not display a pattern of success (despite some
failures) in the long run.

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TYPES OF

ROBERT SY (Jocker’s Food Industry)

CECELIO PEDRO – LAMOIYAN CORP.

D. Owner-Manager – when a person buy

B. The Induced Entrepreneur – are induced by some external

B. Trading Entrepreneurs – is one who

D. Agricultural Entrepreneur – are those

2. Imitative Entrepreneurs – Imitative

7. Active Partners – Active Partners are those

8. Innovators – Such entrepreneurs with their

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