Student: Faiq Alakbarov (TITI 2001)

Subject: “Fundamentals of Entrepreneurship and İntroduction to Business”

Teacher: Orkhan Karimov
Colloquium Task

Types of business
1. Trading Entrepreneurs
Trading entrepreneurs engaged in the trading of goods in which their main activity is buying,
storing, and reselling merchandise for profit without adding value to these goods. Examples:
Magnit, Walmart, Ikea, Alibaba, Chinavasion, Ebay
2. Industrial Entrepreneurs
The industrial entrepreneurs are those that transform the raw material into consumer goods, to then
be marketed directly or indirectly through different distributors, which finally reach the public.
Examples: Tyson Foods, Pegatron, Mitsubishi Electric, Pfizer
3. Service Entrepreneurs
Service entrepreneurs are those individuals who offer specific services to their target market. Most
of them specialize in one or two fields and they concentrate on clients of a particular class in society.
Examples of service entrepreneurs include; dry cleaners, carwash, and hotel business as: Booking
Holdings, Mercadolibre, Mastercard, Expedia Group, Accor Groups
4. Agriculture Entrepreneurs
Agricultural entrepreneurs are those who focus on the agricultural sector. They are mostly involved
in the production, and distribution of agricultural-related products and services. They produce and
sell fertilizers, seeds and seedlings, agro-chemicals, gardening tools and equipment or offering
extension services. Companies that refer to this category are: Cargill (US firm), Deere & Company,
Monsanto Company, Bayer AG (German Firm)
5. Other Entrepreneurs
To this category we can include health and pharmacy related firms, insurance, and finance
companies. Examples are: Berkshire Hathaway, Prudential Financial, Health Care Service and etc.

Use of Technology
6. Technical Entrepreneurs
A technical entrepreneur is a business person who has got adequate technical knowledge on a certain
field and focuses mainly on production activities. Examples are: Microsoft, Apple, Samsung,
Alphabet, Huawei and etc.
7. Non-technical Entrepreneurs
A non-technical entrepreneur focuses more on the marketing aspects of finished products rather than
actual manufacturing. They are highly skilled in product promotions and they change their
marketing strategies accordingly to meet their target clients seamlessly even in the most dynamic
markets. Examples are: Atlanta Hawks, Starbucks, Elle On Demand, Chick-fil-A.
8. Professional Entrepreneurs
A professional entrepreneur is an individual who is skilled and applies innovative techniques to
establish a business. They are mainly focused on coming up with business ideas and turning them
into reality with the aim of selling them to interested investors. Professional entrepreneurs capitalize
on their innovative skills and they make profits by selling their businesses to other business owners.

Stage of Development
9. Inherited Entrepreneurs
These are individuals who run businesses that they inherited from their families. Most of them were
initially involved in running family businesses and they either inherit them or they expand and open
branches in other regions. As examples we can show these companies: Virgin (Richard Branson),
Peris Hilton (Hilton Hotel).
10. First Generation Entrepreneurs
A first-generation entrepreneur is the first to establish a business of his own. Even if some of these
first generations of entrepreneurs may have come from business-oriented families, they use their
innovative skills to create a new business which is different from the family business. Elon Musk,
Bill Gates, Sam Walton and others.

Area division
11. Rural Entrepreneurs
Rural Entrepreneurship defines the entrepreneurship whose origin lies in the rural areas whereas has
a lot of potentials to undertake various business, industry, agriculture and play a significant role in
the economic growth of the nation.
12. Urban Entrepreneurs
A person who starts his business activity from urban area and whose customers also belong to urban
area can be defined as Urban entrepreneur.
13. Local Entrepreneurs
A person whose business activity is limited up to one city or district can be said as a local
entrepreneur.
14. National Entrepreneurs
A person whose business activity is limited up to national level, may be spread over in more than
one states can be said as a National leveled entrepreneur.
Examples: Bakcell
15. Global Entrepreneurs
It is the whole process of entrepreneurship conducts ad, performs the activities of the business
across the boundaries of the nation. Examples are:

Dividing by form of Organization

16. Individual Entrepreneurs
When all functions of management and operation of any business are performed only by one single
individual, it is called as individual entrepreneurship. Examples are: Steve Jobs, J.k Rolling and
Mark Zukerberg etc.
17. Group Entrepreneurs
In such entrepreneurship, leadership is transferred from one individual to the organized group of
experts. So, it is called group entrepreneurship. Examples are:
18. Corporate Entrepreneurs
When several people collectively establish Enterprises, bear risks and carry out innovations on the
Cooperative basis, it is known as Cooperative entrepreneurship. Examples are:

According to Gender and Age

19. Men Entrepreneurs
If male gender begins the business venture can be defined as Men entrepreneurs. Examples are:
Mark Zuckerberg as a founder of Facebook, Jeff Bezos as a founder of Amazon, Steve Jobs (Apple).
20. Women Entrepreneurs
If female entrepreneurs initiate the business activities can be said as Women entrepreneurs.
Examples are: Ariana Huffington as a founder of Huffington post, Oprah Gail Winfrey, Anita
Roddick founder of Green Product Pioneer.
21. Young Entrepreneurs
People who started their businesses in early ages can be considered as young entrepreneurs.
Examples are: Charlotte Fortin (Wound Up company), Jack Kim (Benelab Company), Garrett Gee
and etc.
22. Old Entrepreneurs
People who started their businesses above fifty years old can be considered as old entrepreneurs.
Examples are: Cinde Dolphin, Jim Butenschoen and etc.
23. Middle Entrepreneurs
A person begins his business activities in his late thirties or forties can be said as a middle-aged
entrepreneur. Generally, such persons are first generation or situational. Examples are: Tim
Westergren, Pandora Radio, Doris Fisher The Gap, Jan Koum WhatsApp and etc.

According to Growth:
 24. Growth Entrepreneurs
Companies which are able to develop their business at normal expected growth rate can be
considered as Growth entrepreneurs. Examples are: Pandora Media, Rightmove, Dexcom.
25. Super Growth Entrepreneurs
Companies which are able to develop their business at more than normal expected growth rate can
be considered as Super Growth entrepreneurs. Examples are: Amazon, Netflix, Atlanticus Holdings,
Joint corp.
26. Lifestyle Entrepreneurs
A lifestyle business is a business set up and run by its founders primarily with the aim of sustaining
a particular level of income and no more; or to provide a foundation from which to enjoy a
particular lifestyle. Examples are: JP Morgan, FundBase, Block Keeper, Klever and etc.

According to Motivation:
27. Pure Entrepreneurs
Pure entrepreneurs are persons who venture into business after being trigged by eminent economic
and psychological factors. Their desire to undertake entrepreneurial activities is driven by the
passion of making a difference in the society, changing their economic status or standing out among
others.
28. Induced Entrepreneurs
Induced entrepreneurs only undertake their entrepreneurial activities when there are incentives and
subsidies given by the government. Government intervention policies such as financial support and
technical assistance are the main driving factors that motivate these types of entrepreneurs to start
new businesses.
29. Motivated Entrepreneurs
Motivated entrepreneurs are those individuals who venture into business as a result of self-drive in
order to achieve a personal goal/desire. They are motivated by the fact that they want to see a
positive change in their personal life or society.
30. Spontaneous Entrepreneurs
Spontaneous entrepreneurs have self-confidence, resourceful, and they are motivated to start their
own venture or work as a group in order to tap their own talents. Since they have a natural talent,
they can easily succeed in their venture if they learn how to manage associated risks.
31. Accidental Entrepreneurs
Sometimes situation makes an entrepreneur. Those who didn’t plan to start any new venture but
accidently came across with some opportunity and without any prior plan they begin with it.