Types of Entrepreneurs

TYPES OF ENTREPRENEURS
1. Based on functional characteristics :
a. Innovative entrepreneur : such entrepreneurs
introduce new goods or new methods of production
or discover new markets or new organise their
enterprise. Entrepreneurs in this groups are
characterized by aggressive assembly of
information for trying new combination of factors.
b. Imitative or adoptive entrepreneur : these people
imitate techniques and technology innovated by
others. Entrepreneurs of this trait are reactive in
nature and are ready to adopt to innovation
happening around.
c. Fabian entrepreneur : accept change only when
they feel threatened that failure to do so would
result in losses. They are imitative by nature
but not determinant and also lack in power.
d. Drone entrepreneur : these are entrepreneur
who refuse to accept to adopt to changes
adopted by the competitors. When competition
increases they are pushed out of the market as
it becomes uneconomical for them to carry
their business further due to financial crisis.
2. Based on development :
a. Prime mover : he is a person who moves in powerful sequence
of development, expansion and diversification of business.
b. Manager : these kind of entrepreneur do not initiate expansion
or innovation but believe in utilizing available resource in
organization and performing assigned activities to them.
c. Minor innovator : these set of entrepreneurs contribute to
economic progress by finding better use for existing resources.
d. Satellite : these are set of suppliers who provide business with
required resources and then move towards productive
enterprise.
e. Local trading : these entrepreneur limit their products or
service to local market.
3. Based on entrepreneur business :
a. Manufacturing : these are set of entrepreneurs who are
into production of products that will be sold in market
using resources and suppliers. E.g. Apparel, textile
products.
b. Whole selling : these are set of entrepreneur who prove
to be supporting hand for producers they sell in goods
produced in production centre to middlemen in market.
c. Retailing : he is kind of entrepreneur one who sells
goods produced by companies directly to consumers.
d. Service : these are set of qualified entrepreneurs who
are specialized in particular field and render service to
customers
4.Based on nine personality types of entrepreneurs
a. Improver : when entrepreneur continuously focuses on
development of business then he tends to improve overall
economy through development in business process.
b. Advisor : these are entrepreneurs who provide high level
assistance to customers in market. Main motto of these
entrepreneur is to provide vale addition information
required by customers.
c. Superstar : he is kind of person who tends to attract
attention through his charismatic features example CEO,
MD of organization.
d. Artist : these kind of entrepreneurs are reserve by nature
but are suitable for the jobs which require creativity such
as web designer.
e. Visionary : visionary entrepreneur are futuristic in nature,
they will have high degree of curiosity to understand
changes happening in world. They prefer taking initiative
and like to be in line with competitive environment.
f. Analyst : analyst entrepreneur is a person one who believes
in analyzing the existing and tries to maintain status quo
and bring improvement.
g. Fireball : entrepreneur running business which is composed
of life, energy, optimism and one who believes in bringing
change by changing mindset of customers. E.g. Aid agency.
h. Hero : these are kind of entrepreneurs who have ability to
lead and run their business through challenges.
i. Healer : these are entrepreneur one who believe harmony in
healing and bring in harmony to business.
5. According to use of technology :
a. Technical entrepreneur : strength of technical
entrepreneur is the technical knowledge of person. He
possesses craftsmen skill in him which he develops to apply
and implements to develop technical aspect of product.
b. Non technical entrepreneur : these entrepreneurs believe in
coming up with new strategies rather then concentrating
technical aspect of the product. His target is not to change
the technology related to the product but rather increase
demand for product with effective strategies by attracting
customers.
c. Professional entrepreneurs : are the one who are interested
in floating a business rather then managing or operating
the same.
6. According to stages of development :
a. First generation entrepreneur : are those who do
not possess any entrepreneurial background. They
start industrial unit by the means of their own
innovative skill.
b. Second generation entrepreneur : are those
entrepreneur who inherit family business firm
and pass it from one generation to other.
c. Classical entrepreneur : is a stereotype
entrepreneur who aims to maximize his economic
returns at every level consistent with the survival
of the unit but with or without element of growth.
7. According to capital ownership :
a. Private entrepreneur : when an individual or
group of people together set up enterprise
collectively bear profit and loss of company, and
adopting latest techniques in business are
known as private entrepreneur.
b. State entrepreneur : refers to trading or
industrial venture undertaken by the state or
the government.
c. Joint entrepreneur : refers to combination of
private and state enterprise running the
business by sharing resources with each other.
 INTRAPRENEUR
Intrapreneur is the person who works within
the organization, utilizes the resources
available within the organization and tries to
accomplish present task in innovative and
creative manner by effective utilization of
available resources.
 CHARACTERISTICS OF INTRAPRENEUR
1. Creates new venture : giving birth to new
business within the existing organization is the
typical characteristics of intrapreneur.
2. Innovates products and services : intrapreneur to
create effectiveness at workplace has to update
organization techniques through implementation
of new technology in company.
3. Innovates process : to sustain in market
company's strategies should be effective to that of
competitors for which intrapreneur should renew
company process at regular interval of time.
4. Proactive : intrapreneur attempt to lead rather
than follow competitors through their proclivity in
terms of advance operations in company.
5. Risk taking : intrapreneur possess risk taking
attitude with regard to investment decision and
strategic actions under uncertain situations.
6. Renews organization : intrapreneur is expected to
transform the organization through renewal of key
ideas.
7. Competitively aggressive : intrapreneur is
expected to come up with new strategies to
stabilize or develop company's brand image in
market.