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MODULE 2

TYPES OF ENTREPRENEURSHIP

TYPES OF ENTREPRENEURSHIP

Objectives
•To disseminate and intensify knowledge on the different types of entrepreneurship
and entrepreneurs.

•To differentiate the differences based on entrepreneurial activities as well as the
functions assumed by the entrepreneurs.
•Learning outcomes

•Classify the types of entrepreneurship and entrepreneurs into proper context without
any difficulty.

•Differentiate and articulate the different types of entrepreneurship and
entrepreneurs that exist in the current entrepreneurship literature.

•Explain the differentiating factors based on based on the respective entrepreneurial
activities and functions of the entrepreneurs.


TYPES OF ENTREPRENEURSHIP
• Topics
• Introduction
• Entrepreneurship Versus Entrepreneur
• Types of Entrepreneurship
• Types of Entrepreneurs
• Summary

INTRODUCTION
• Entrepreneurship is a process of identifying
the opportunity, converting the opportunity
into marketable products or services using
creative and innovative means, and through
the process creates value and wealth to the
society.
• Entrepreneurs are individual who undertake
entrepreneurial process

ENTREPRENEURSHIP VERSUS
ENTREPRENEUR

Entrepreneurship refers
to an entrepreneurial
process
Entrepreneur is the
individual that executes
the process.
TYPES OF ENTREPRENEURSHIP

1) Corporate
Entrepreneurship
2) Private or
independent
entrepreneurship
3)
Intrapreneurship
4) Social
entrepreneurship
5) Public Sector
Entrepreneurship
6) Academic
Entrepreneurship
1) Corporate Entrepreneurship

• Refers to the entrepreneurial activities carried
out in large corporations.
• Large companies have to continually expand
and diversify their entrepreneurial activities in
order to sustain their existence by creating
new products or services to their customers.
• Entrepreneurial activities in the corporate
setting can be seen at different stages or
scopes.

2) Private or independent
entrepreneurship

• Refers to entrepreneurship activities of private
or independent firms where the
entrepreneurship process is most prevalent.
• Independent entrepreneurship contributes to
the nation’s economy in terms of providing
jobs and value added initiatives.

3) Intrapreneurship
• Innovative corporate management strategy that
encourages employees within an organization to
create new product ideas.
• Often associated with larger companies that have
taken notice of the rise in entrepreneurial activity
in recent years
• These firms endeavour to create an environment
wherein creative employees can pursue new
ways of doing things and new product ideas
within the context of the corporation

4) Social entrepreneurship

• Refers to the entrepreneurial activities carried
out by social enterprises, NGOs and charitable
organizations.
• Involves recognition of a social problem and the
application of the entrepreneurial approach to
organize, create and manage a venture to achieve
the social objectives or social ROI (return on
investment).
• Eg economic- based social entrepreneurship is
Grahmeen Bank in Bangladesh

5) Public Sector Entrepreneurship

• Refers to entrepreneurial activities carried out
by government-linked companies (GLCs) or
state-owned enterprises.
• These companies were formed as part of the
nation’s privatization programme
• Example: State Economic Corporations
(SEDCs)

6) Academic Entrepreneurship

• Entrepreneurial activities in academic and
research institutions mainly involve research
and development new products, processes,
systems, materials, etc.
• Also known as knowledge entrepreneurship.

TYPES OF ENTREPRENEURS


1) Corporate Entrepreneurs
• who manage large corporations usually public
listed companies
• Either employed or own shares in the
corporation
• Known as ‘intrapreneur’
• Are professionals

TYPES OF ENTREPRENEURS

2) Independent Entrepreneurs
• Pure type of entrepreneur
• They are independent , own and manage own
company
• Usually exhibit extensive entrepreneurial
characteristics

TYPES OF ENTREPRENEURS

3) Social Entrepreneurs
• Exist in social organizations or enterprises
• Known as social leader of agents of
transformation
• Their roles in instilling an entrepreneurial
mind-set to their respective target groups


TYPES OF ENTREPRENEURS

4) Public Entrepreneurs
• Entrepreneurs found in public sector
organizations including government-linked
companies and state-owned enterprises
• Applying entrepreneurship principles in
managing
• Do not own the companies

TYPES OF ENTREPRENEURS

5) Academic Entrepreneurs
• Exist in most institution of higher learning and
research and development organization
• Involved in entrepreneurial activities that lead
to innovation and commercialization of R & D
• Known as knowledge entrepreneurs

OTHER VARIANTS OF ENTREPRENEURS

• Serial Entrepreneurs
– Those who continuously start new ventures and sell off the
venture at a later stage
• Lifestyle Entrepreneurs
– Start new ventures out of their passion rather than solely
for profit
• Nascent Entrepreneurs
– Those aspire to take up entrepreneurship as a career
option
• Necessity Entrepreneurs
– Are involved in entrepreneurial activities not by their own
choice

OTHER VARIANTS OF ENTREPRENEURS

• Technopreneurs
– Entrepreneurial persons who are technology savvy and earn a
fortune using their expertise in the respective technologies
• Intrapreneur
– A person within a large corporation who takes direct responsibility
for turning an idea into a profitable finished product through
assertive risk-taking and innovation
• Agripreneurs
– Involved in entrepreneurial activities in the agriculture sector
• Infopreneurs
– Those who utilize information as commodity for sale
• Edupreneur
– Those involved in setting up educational institutions privately with
the objective to make profit


SUMMARY

• The classification of entrepreneurship
are:
–based on the type of entrepreneurial
activities carried out in specific organization
and
–based on their roles and functions in the
specific type of organization