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Entrepreneurship

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development
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S. PINTOR, LPT
TOPICS:

• Entrepreneurship & Economic Development

• Types of Entrepreneurship / Entrepreneurship Classification

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 What is Economic
Development?

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 What is Economic Development?
• Economic development is the process by which
emerging economies become advanced economies.
• In other words, the process by which countries with
low living standards become nations with high living
standards.
• Economic development also refers to the process by
which the overall health, well-being, and academic
level the general population improves.
• During the development, there is a population shift
from agriculture to industry, and then to services.
• A longer average life expectancy, for example, is one
of the results of economic development. Improved
productivity, higher literacy rates, and better public
education, are also consequences.
• Put simply; economic development is all about “The process in which an economy grows
improving living standards. or changes and becomes more advanced,
especially when both economic and social
conditions are improved.” (The Cambridge
‘Improved living standards’ refers to higher levels of Dictionary)
education and literacy, workers’ income, health, and lifespans.
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Role of Entrepreneurship in Economic
Development – Fundamentals of
Entrepreneurship

“Entrepreneurship has
been identified as a vital
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process in economic 5
development”
 CONCEPTS OF ENTREPRENEURSHIP

Review:
Entrepreneurship – is a process of creating, launching and
managing business operation.
- the “act” of being an entrepreneur.
Entrepreneur – an individual who, undertakes innovations, finances
and business acumen to transform innovations to
economic goods.

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Role of Entrepreneurship in Economic Development
– Fundamentals of Entrepreneurship
• Entrepreneurs play an influential • Whatever be the form of the
role in the economic growth and economic and political set-up of
standard of living in the country. the country, entrepreneurship is
• Entrepreneurship and economic indispensable for economic
development are intimately development.
related.
• Schumpeter opines, that the
entrepreneurial process is a major
factor in economic development
• the entrepreneur is the key to
economic growth.

7
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 Role of Entrepreneurship in Economic Development (cont.)

Here are some of the important roles an

entrepreneur plays in the economic
development of a country:
1. Promotes Capital Formation:
• Entrepreneurs promote capital formation
by mobilizing the idle savings of the
public. 2. Creates Large- Scale Employment
• They employ their own as well as Opportunities:
borrowed resources for setting up their • Entrepreneurs provide immediate large-
enterprises. scale employment to the unemployed
• Such types of entrepreneurial activities which is a chronic problem of
lead to value addition and creation of underdeveloped nations.
wealth, which is very essential for the
industrial and economic development of
the country.
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 Role of Entrepreneurship in Economic Development (cont.)
• 2. Creates Large- Scale Employment
Opportunities (cont.) :
• With the setting up of more and more
businesses (both on small and large –
scale), as time passes, these
enterprises grow, providing numerous
job opportunities.
• In this way, entrepreneurs play an
effective role in reducing the problem
of unemployment in the country,
which in turn clears the path towards
the economic development of the
nation.
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3. Promotes Balanced Regional
Development:
• Entrepreneurs help to remove
regional disparities through setting up
of industries in less developed and
backward areas.
• The growth of industries and
businesses in these areas lead to a
large number of public benefits like
road transport, health, education,
entertainment, etc.
• Setting up more industries lead to
more development of backward
regions and thereby promotes
balanced regional development. 9
 Role of Entrepreneurship in Economic Development (cont.)
4. Reduces Concentration of Economic
Power:
• Economic power is the natural
outcome of industrial and business
activity.
• Industrial development normally leads
to a concentration of economic power
in the hands of few individuals which
results in the growth of monopolies.
• In order to redress this problem a
large number of entrepreneurs need
to be developed, which will help
reduce the concentration of economic
power amongst the population
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5. Wealth Creation and Distribution:
• It stimulates equitable redistribution
of wealth and income in the interest
of the country to more people and
geographic areas, thus giving larger
sections of the society.
• Entrepreneurial activities also
generate more activities and give a
multiplier effect in the economy.
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 Role of Entrepreneurship in Economic Development (cont.)
6. Increasing Gross National Product
Per Capita Income:
• Entrepreneurs are always on the
lookout for opportunities
• They explore and exploit
opportunities, encourage effective
resource mobilization of capital and
skill, bringing in new products and
services and develop markets for
growth of the economy.
• In this way, they help increase gross
national products as well as per capita
income of the people in a country.
• An increase in gross national product
and per capita income of the people
in a country is a sign of economic
growth.
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 Role of Entrepreneurship in Economic Development (cont.)

7. Improvement in the Standard of • This enables the people to avail of

Living: better quality goods at lower prices
• An increase in the standard of which results in the improvement
living of the people is a of their standard of living.
characteristic feature of the
economic development of the
country.
• Entrepreneurs play a key role in
increasing the standard of living of
the people by adopting the latest
innovations in the production of a
wide variety of goods and services
in a large scale that too at a lower
cost.
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 Role of Entrepreneurship in Economic Development (cont.)
8. Promotes Country’s Export Trade:
• Entrepreneurs help in promoting a
country’s export trade, which is an
important ingredient of economic
development.
• They produce goods and services
on a large scale for the purpose of
earning huge amounts of foreign
exchange from export in order to
combat the import dues
requirement.
• Hence, import substitution and
export promotion ensure economic
independence and development.
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9. Induces Backward and Forward
Linkages:
• Entrepreneurs like to work in an
environment of change and try
to maximize profits by
innovations.
• When an enterprise is
established in accordance with
the changing technology, it
induces backward and forwards
linkages that stimulate the
process of economic
development in the country.
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 Role of Entrepreneurship in Economic Development (cont.)
10. Facilitates Overall Development:
• Entrepreneurs act as catalytic agents
for change which results in a chain
reaction.
• Once an enterprise is established, the
process of industrialization is set in
motion.
Catalytic agent -in group psychotherapy, refers to
a participant who stimulates an emotional reaction from
fellow participants. Thus, this person actively participates
and facilitates the process of sharing experiences.
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• This unit will generate demand of
various types of units required by it
and there will be so many other units
that require the output of this unit.
• This leads to the overall development
of an area due to an increase in
demand and setting up of more and
more units.
• In this way, the entrepreneurs
multiply their entrepreneurial
activities, thus creating an
environment of enthusiasm and
conveying an impetus for the overall
development of the area.
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Review:
1. Promotes Capital Formation
2. Creates Large- Scale Employment
Opportunities
3. Promotes Balanced Regional Development
4. Reduces Concentration of Economic Power
5. Wealth Creation and Distribution
6. Increasing Gross National Product Per
Capita Income
7. Improvement in the Standard of Living
8. Promotes Country’s Export Trade
9. Induces Backward and Forward Linkages
10. Facilitates Overall Development
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 Types of Entrepreneurship /
Entrepreneurship Classification

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 Types of Entrepreneurship
1. Administrative Entrepreneurship
• Under this category, all the administrative
techniques and functions of entrepreneurial
activity is included.
• It gives a very effective way to manage all the
current as well as future situations of the
business with merits and a competitive edge.
• This is in fact, the traditional Research &
Development management approach.
• It is the joint efforts of both the general
management and scientific-technical
personnel to identify areas for research and
development of new products, techniques, or
the improvement of the existing ones.
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• There are few examples of Administrative
Entrepreneurship that can give an idea
such as management of quality,
redesigning of job, new techniques to do
things and management by consensus.
• All these tasks of this type of
entrepreneurship maximize the
efficiency of an organization and nukes
the achievements of the firm and sustain
in the competitive marketplace.
Examples: The government of
Bangladesh consider old-age pension
scheme as administrative
entrepreneurship.
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 Types of Entrepreneurship (cont.)
2. Opportunistic Entrepreneurship Frank Epperson – Popsicle
• “Hit the iron when it is hot” this proverb
describes this kind of entrepreneurship
and is the best exhibit of the features of
Opportunistic Entrepreneurship.
• New opportunities are also offered by the
changes in the environment but not every
business owner is able to identify the
opportunities and utilize the same in a
timely manner.
• The opportunistic entrepreneurship
describes as identifying, exploiting and
performs the upcoming opportunities in
the first hand.

Examples: FedEx, Arthur Fry and Lan “Opportunity can come from any source and at any
Hancock etc. time, it’s about how you respond”

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 Types of Entrepreneurship (cont.)
3. Acquisitive Entrepreneurship
• This type of entrepreneurship learns from
other competencies.
• It acquires something new of value, the
competitive environment etc .
• It achieves the competitors technical
capacities. It keeps entrepreneurship
sustainable in a competitive environment.
• The highlighted point is that some failures
never prevent them from learning and
developing new skills but also encourages
them to figure out such new things all the
times.
Examples: Imagesbazaar.com, the founder
Sandeep Maheshwari failed to produce the
master piece in his first year of launch, but
later on he discovered how he can make his a
idea big success.
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ImagesBazaar is an imperative
resource for searching,
purchasing and downloading
creative Indian images and
videos. Images Bazaar is a
collective endeavor of
thousands of passionate
photographers led by Sandeep
Maheshwari, who is a World
Record Holder in creative
photography.
It capture the essence of India for serving it to the
global audience. Some other services offered by
the company ranges from photography,
production, coordination, art direction, location,
casting, make-up to costumes and styling.
First Indian stock photography company to employ
full time creative researchers for studying market
trends and consumer needs. Thousands of leading
brands across the globe use their content for their
advertising, marketing and publishing needs.
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 Types of Entrepreneurship (cont.)

4. Incubative Entrepreneurship
• It generates and nurses new ideas and
ventures within the organization.
• It executes them in a productive
manner and ensures material gain for
the organization.
• It manages it in a productive way and
makes sure the material gain for the
business firm.
• They pursue and help to get
differentiated technologies to promote
creations and innovations Microsoft,
Nokia, etc. always incubates new
varieties types of products and creates
product differentiation in the market.

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 Types of Entrepreneurship (cont.)

5. Imitative Entrepreneurship Example:

• Under an agreement with a franchise, Walton BD. produced many products like
this entrepreneurship imitates or refrigerators, motorbikes and other
copying the operative products and electronic products without being the real
services. creator of those products. Another
example can be China where mobile
• It is a model that assists to spread a technologies is adapted and modified to
new technology across the globe so that take this to new level.
people can utilize it.
• It involves the adoption of current
technologies from across the world and
takes on existing technologies with
some few modifications that suit the
local conditions.

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 Types of Entrepreneurship (cont.)
6. Private Entrepreneurship
• Initiate entrepreneurship under the Examples: Tesla, Disney, different food
private sector is named as Private chains and hospitals all are examples of
Entrepreneurship. private entrepreneurship.
• The government of every nation gives
ample support services via public as
well as private concerns to motivate
non-public initiative in taking the
ventures of Entrepreneurship.
• Moreover, it speeds up the economic
development and maintains a balance
between a layer and mutual
relationship.

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 Types of Entrepreneurship (cont.)
7. Public Entrepreneurship
• Public Entrepreneurship referred to as
the entrepreneurship that is come under
the government through the various
development agencies.
• All developed and underdeveloped
nations take initiative in venture ideas to
meet the preliminary shortage of private
Entrepreneurs.
• These are different from private
entrepreneurs because they work under
government to solve public and
environment issues.
• also they are not social entrepreneurs
because they are bound to governments
rules and regulations.
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For Examples:
Hyman Rickover submarine and Nancy
Hank, the chair person of national
endowment of arts are the examples of
public entrepreneurs.
8. Individual Entrepreneurship
It is entrepreneurship that is managed
and executed by an individual or a
member of a family with some personal
motives as well as initiatives, thus it is
called as individual Entrepreneurship.
Examples: Steve Jobs, J.k Rolling and Mark
Zukerberg etc.
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 Types of Entrepreneurship (cont.)
9. Mass Entrepreneurship
• The emergence of this category
of entrepreneurship occurs
when there is a presence of a lot
of favorable climate of
encouragement as well as a
motivation among the common
masses and this describes the
Mass Entrepreneurship.
• It leads to increase the small and
large enterprises in a nation.
Examples: Food caterers, beauty
salon and local shops
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10. Small Business Entrepreneurship
• A greater number of businesses in society are
small that employ more than 50% of total non-
government workers in the Philippines.
• The profit in these types of businesses is pretty
less as the main reason behind them (among
employers) is creating a living for their families.
• A small entrepreneur can be the person who
operates a business by hiring local people of
family members. The majority of them funds
their business through friends or family or
business loans.
Examples:
grocery stores, plumbers, confectionary stores,
electricians, house cleaners, consultants, and hair
dressers, among others.
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 Types of Entrepreneurship (cont.)
11. Large Company Entrepreneurship 12. Scalable Startup Entrepreneurship
• grow using innovation.
• create new variants apart from core products they • The majority of people believe that small business
manufacture.
and Scalable Startup Entrepreneurship is same.
• The reasons for disruptive innovations are customization in
the demand of customer, establishment of new technologies • They are pretty different in reality.
and the emergence of new competitors among others.
• In this version of entrepreneurship, the company is
• It results in the creation of completely new products so that started with a vision that changes the universe.
these challenges can tackle successfully.
• The funding in such businesses arises from the
• The large companies do this either by creating disruptive venture capitalists, and that’s why they hire top
products or by acquiring innovative organizations. employees.
• The disruptive innovation becomes pretty difficult to apply in • The main motive in this entrepreneurship is to seek
large organizations.
a scalable and repeatable business structure.
Examples LG, Tata, Microsoft, etc. • After identifying them, they look for further funding
disruptive innovation is an innovation that creates a new market and value network and eventually
so that business can grow.
disrupts an existing market and value network, displacing established market-leading firms, products,
and alliances. • Only a little bit number of businesses is scalable
• Disruptive innovation refers to a new development that dramatically changes the way a structure or
industry functions.
startups due to the involvement of risks.
• The term refers to the use of technology that upsets a structure, as opposed to disruptive technology, which
refers to the technology itself.
•
Examples: e-commerce websites, Facebook, etc.
The Internet is an example of disruptive innovation, in that it turned the business world on its head, forcing
companies to either adapt or lose out. Cryptocurrency, Netflix, Uber, 3D Printers,

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 Types of Entrepreneurship (cont.)
13. Social Entrepreneurship
• In this type of entrepreneurship, people in business are the innovators who
target on development of products and services, so that social requirements
and problems can be solved.
• Unlike scalable startup entrepreneurship, the main motive of entrepreneurs in
this case is improving the world.
• While businessmen aim to define, compete or create a market with the goal of
earning in mind, the social entrepreneur looks at his community, sees the
challenges, and commits to their improvement.
• These social enterprises range from a variety of industries and beneficiaries
such as infants and mothers, employment assistance, and the environment.
• What is more impressive is that these small companies are assisting and
committing to causes right at their own country, helping their own countrymen
while earning revenue.
• To become an effective social entrepreneur is all about being Richard Branson
and Mother Teresa all at the same time as further described by the Schwab
Foundation, an institution established in 1998 under the Swiss Federal
Government with 260 social entrepreneurs in its community that continues to
grow with its annual selection of new members under a fine-toothed selection
process.
• Social entrepreneurship was fueled by the unprecedented advances in
economy, which were not parallel to the progress in the social standing of
people. Because of this, there was a big gap between rich and poor, and the
number of marginalized rose exponentially in number. While most turned its
checks, a few took it as an opportunity to make a difference.
• To further understand and imbibe what social entrepreneurship is all about, it’s
worth looking at its history through its most popular proponents, the people
who looked and saw the reality of social injustice and did something about it:
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TYPES OF SOCIAL ENTERPRISES
There are many kinds of social enterprises and these can be classified
succinctly into these three:
1. Leverage non-profit: uses funds in innovative ways to be able to fulfil a
need. Usually, these enterprises have a more traditional way of
tackling the issues they take up.
2. Hybrid non-profit: uses profit to be able to support its causes and
operations. Funding comes from market or government failures aside
from grants and support from the private sector.
3. Social business venture: uses set-up businesses in line with the
enterprise to support its operations. This mostly happens to social
enterprises due to lack of funds and/or support. Dr. Maria Montessori
Premier Examples
• Dr. Maria Montessori- who revolutionized early childhood education –
Montessori schools
• Florence Nightingale - opened the first nursing school and provided
modern nursing practices that are still being followed today.
• William Lever - William Lever’s social mission is all about the whole
idea that cleanliness can be achieved by every person. He started with
his Sunlight Soap that comes pre-cut and added palm oils so that it will
be quick to lather. The one in the market at that time was cut from a
big batch at a store and was harder to use. He also started a six-hour
workweek for employees, a far cry from the conditions in other
factories in the manufacturing business, so that they can also focus on
their exercise routine and further care for their health. Today, Lever
Bros. is the multinational Unilever who has William Lever’s mission at the
core of its business practices.
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 Social Entrepreneurship (cont.)
1. Gawad Kalinga: Sustainable way of
getting the poor out of poverty
Two words have been used to describe
Gawad Kalinga’s Tony Meloto over the
years: insane and visionary. His idea was
perceived by many in the beginning as
utopian as his main objective was to
eradicate poverty by 2024 in the
Philippines and his path to this goal is by
creating sustainable villages.
To make this happen, his social enterprise
model consists of the local government,
volunteers, and companies coming
together to create sustainable
communities. Instead of just setting up
housing, he made sure that every
community has a means to earn and
conduct business to prevent them from
returning to squatter living and violence.
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Today, Gawad Kalinga has created 3,000
villages and counting and has put up the
Center for Social Innovation, a Silicon
Valley-like lab that seeks to create more
social entrepreneurs. One such success
story that it has created to espouse its
message is its Human Heart Nature
business, which is pro-poor and pro-
environment. It creates a line of
cosmetics that are natural and organic
with ingredients coming from farms
tended to by the people living in Gawad
Kalinga villages.
Because of its so-called radical optimism,
Gawad Kalinga is a sought-after partner
by corporations for their corporate social
responsibility programs and countries in
Europe for partnerships.
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 Social Entrepreneurship (cont.)
2. SafePoint Trust. It is controlled by Marc
Koska and involved in the world of
redesigning medical tools.
• Additionally, they introduce the low-cost
non-reusable syringes for clinics that lack
money globally.
• Since its foundation, this firm has delivered
more than 4 billion safe injections in more
than 50 nations around the globe.
3. Ashoka.org, a not-for-profit
organization registered in the US and
whose name was derived from a social
welfare leader who was a unifying force in
India during the 3rd century BC, further
expounds on social entrepreneurs as
change agents who have new approaches
and creative solutions to society’s
problems.

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 Types of Entrepreneurship (cont.)
14. Intrapreneurship
• This term was coined by Gifford Pinchot in the
year 1973.
• It is based related to the fostering the activities
of entrepreneurs in a large organization by
making improvements in the products and
branding them to increase the profitability.
• The valuable asset for an organization
considered as innovation and dedicated efforts
by the intrapreneur.
• The four elements of Intrapreneurship are:
- the right structure
- suitable manpower
- reward and
- collaboration for a bright future.
• This entrepreneurship is very significant in this
changing world of competitiveness in the Intrapreneurship is the act of behaving like an entrepreneur while working within a large
marketplace. organization. (wiki)

Examples: Google, Intel, 3M and so on.

intrapreneur is an employee who is tasked with developing an innovative idea within a
company and can draw on its resources to do so. (dictionary.com)

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 Types of Entrepreneurship (cont.)
15. Technopreneurship
• It is a blend of two words, technology and
Entrepreneurship.
• It a kind of entrepreneurship in the intensive
technology context and the process of amalgamating
the entrepreneurial skills and technology where the
technology is used as an essential part.
• It is a sort of new breed of entrepreneurship and
needs an entrepreneur who is creative, techno-savvy,
passionate as well as the ability to calculate
associated risk in advance.
• IT plays an important role and gives benefits such as • Sometimes, cultural entrepreneurs lie on media tools
generate employment, the best utilization of
resources, growth of technology and creates capital.
Examples: Microsoft, Apple, Facebook, Twitter,
Instagram, etc.
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16. Cultural Entrepreneurship
• These entrepreneurs’ changes culturally who organize
cultural, financial, social as well as human capital to make
a profit out of it.
• They produce products that are culturally good and
generating a lot of opportunities for economy, society
and culture.
• These firms are coming from micro, small to large
enterprises.
• Such entrepreneurship works in cultural professions such
as artists, writers, musicians, dancers, advertisers,
bloggers, architects and so on.
• The motive of such firms is the betterment of society by
leverage the business.
like Twitter and Kickstarter to change the ideas, belief
and behavior of the people through communication and
influence.
• Examples: Singers, Musicians, Artists and Writers.
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 Types of Entrepreneurship (cont.)
17. International Entrepreneurship
• It is the whole process of entrepreneurship conducts
ad, performs the activities of the business across the
boundaries of the nation.
• It involves various activities such as opening new
branches of a business firm in new locations,
exporting the products to other countries and get a
license to sell as well as promote the products across
the nations.
• The highlighted purpose of this entrepreneurship is
to fulfill and satisfy the needs and wants of the target
audiences.
• This entrepreneurship gets the benefit when the
demand for products increases internationally but the
need for the same product is domestically not
required or decreasing.
• It is very significant in different aspects such as lower
the cost of manufacturing, increase in sales and profit,
Globalization, cheap labors, developing the habit of
Customer relation Management and utilizes the talent
to a great extent along with the managerial
competencies.
• Examples: Google, Apple and McDonalds etc.
18. Ecopreneurship
• It is also named as “Green entrepreneurship”.
• It involves the perspectives that signify corporation
with the environment by working on their goals as
well as profitability.
• This term gained popularity in the year 1990s and
termed as “Environmental entrepreneurship”.
• Last but not least, this entrepreneurship is
concerned with the problems of the environment
while focusing on the operations of the business
firm and its profit margin.
• It has three main concepts such:
-Eco-innovation, -Eco-opportunity and -Eco-
commitment.
Examples: Body Shop and Ben and Jerry’s,
Patagoina, Clif Bars and Grow Green Happiness etc.
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 Types of Entrepreneurship (cont.)
19. Agripreneurship
• In addition to this, it also includes
floriculture, horticulture, sericulture, animal
• A formidable role has been played by husbandry, biotechnology and so on.
agriculture in the growth of the economy and
its development too.
• Basically, it is a type of farming business
includes the profitability, use of digital
• When a business owner started to make technologies to improve farming, farm
developments in the field of agriculture, then it management, and innovative solutions and
is known as Agripreneurship. reduce the wastage of crops.

• It is like a simple business and includes all the Examples:

operations of a business firm such as Calata Group of Companies, Spin Farming,
manufacturing, production and distribution of Rantachook, Herbal Processing Units, Plant Clinics
farm supplies. are also the examples of agripreneurship

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 Types of Entrepreneurship (cont.)
20. Transpreneurship
• When the people from various groups of
gender such as transgender and Hijra, comes
up with some small scale businesses to fulfil
their day to day needs, then it is widely
known as Transpreneruship.
• It is associated with the third class of
gender where people are not only beggars
or sex workers, but they get their bread and
butter from doing any small scale business.
• For example: A fair was organized by “Anam
Prem” in Mumbai where thirty-five stalls
were there and most of the shopkeepers
belong to transgender started their stalls of
different products such as food, artificial
jewelry, artificial flowers and so on.
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21. Commercial Entrepreneurship
• This type of entrepreneurship associated
with the profitability only and emphasized
the opportunities and not on the resources.
• It uses the available resources lies between
the hierarchies as well as handles the
network on behalf of the entity.
• It is viewed as profit-based
entrepreneurship as all the operations held
by taking profit as a major motive.
• This concept was coined about 250 years
ago and focuses on the economy.
• Examples: Any organization that works for
profit like tiktok, Facebook, snapchat and
not for society issues.
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 Types of Entrepreneurship (cont.)
22. E- Entrepreneurship
• This is also known as E-Entrepreneurship
or Cyberpreneurship.
• In this world of full of technology, the
sea of opportunities is there where
individual, organizations as well as social
and nations can use their mobile phone
and computer again and again to access
the online services.
• The influence and outreach of the
internet are already known by every
business and there is less presence of
brick and mortar businesses.
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• Every business owner tries to shift to
online business and get a reward from
technology.
• The term “Entrepreneurship”
indicates analyzing and identifying the
bunch of resources and converts the
same to online venture business.
• This sort of entrepreneur is also
known as SENs (Self Employed
Entrepreneurs).
Examples: Amazon, Ebay and Etsy etc.
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 Types of Entrepreneurship (cont.)
23. Domestic Entrepreneurship 24. Trading Entrepreneurship

• When a business owner produces goods and • These are a kind of mediator between the
provides services within the boundaries of a manufacturer of a product and its customers or
nation, then it is known as Domestic retailers or wholesalers.
Entrepreneurship.
• They follow all the rules and regulations related
to the business established by the government • All the activities related to the trading of an
of the country to grow their business organization are done through such type of
domestically. entrepreneurs. It serves as middlemen for
• It complies with the policies of the government, dealers, wholesalers, manufacturers and the
highly convenient, culturally sensitive, adapts customers.
the technologies, better understand the local
system, more opportunities for growth and risk
as well as reward. Examples:
Paul Tudon Jones, Nick Leeson and John Key etc.
For Examples:
House Cleaning, Dog Walking and Freelance
writing etc.

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 Types of Entrepreneurship (cont.)
25. State Entrepreneurship
• When a business firm is managed and
operated wholly by the state or the
government of the state, then it is
defined as “State Entrepreneurship”.
• All the trading, as well as industrial
ventures, are fully undertaken by the
state only and not a single
entrepreneur is there.
• Examples: MCWD, Any Business that
is based on state like Investpunjab in
India.
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26. Joint Entrepreneurship
• It is a collaboration of private and
public entrepreneurship.
• When a business enterprise is partly
owned, controlled and managed by
a private entrepreneur and the
government, then it is named as
Joint Entrepreneurship.
• Examples: PAG-IBIG, VECO, Smart
Phone development by Nokia and
Microsoft.
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https://www.economicsdiscussion.net/entrepreneurship/types-of-entrepreneurship/31780
https://101entrepreneurship.org/different-types-of-entrepreneurship-with-examples/
https://www.managementnote.com/role-of-entrepreneurship-in-economic-development/
https://www.talk-business.co.uk/2018/06/28/7-opportunistic-entrepreneurs-who-made-the-most-
of-their-luck/
https://www.businesspundit.com/10-accidental-discoveries-that-generated-great-wealth/
https://www.thebalancesmb.com/what-is-a-business-incubator-4842230
https://www.cleverism.com/ultimate-guide-social-entrepreneurship/
https://allthatsinteresting.com/accidental-inventions#14
https://www.investopedia.com/terms/d/disruptive-innovation.asp
https://smallbusiness.chron.com/examples-scalable-business-model-25576.html

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