MODULE-II
Entrepreneur is a person who foresees the
opportunity and tries to exploit it by introducing a
new product, a new method of production, a new
market.
TYPES OF ENTREPRENEUR
ON THE BASIS OF INNOVATION
Innovative Entrepreneur
Imitative Entrepreneur
Fabian Entrepreneur
Drone Entrepreneur
INNOVATIVE ENTREPRENEUR
▪ An innovative entrepreneur is visionary and seeks new opportunities to create and
develop groundbreaking ideas, products, or services. They are known for their ability
to think creatively, take calculated risks, and disrupt traditional business models.
▪ Examples of innovative entrepreneurs include Elon Musk, the CEO of Tesla and
SpaceX, who revolutionized the electric vehicle and space exploration industries, and
Mark Zuckerberg, the co-founder of Facebook, who transformed how people connect
and communicate globally.
2. IMITATIVE ENTREPRENEUR
▪ An imitative entrepreneur is an individual who focuses on replicating existing business
ideas, products, or services with minor modifications or adaptations.
▪ They are skilled at identifying and duplicating successful business models in different
markets or contexts.
▪ While imitative entrepreneurs may lack novelty, they can still succeed by capitalizing on
proven concepts.
▪ Example: Franchise owners who replicate established brand concepts and operate
multiple outlets.
FABIAN ENTREPRENEUR DRONE ENTREPRENEUR
▪ A Fabian entrepreneur is different from
the risk-takers because he is afraid of ▪ These individuals resist embracing new
taking risk and bringing innovation opportunities and fail to capitalize on
them.
▪ These kinds of entrepreneurs are mostly
the ones who have owned the business ▪ They adhere to conventional methods
directly from their ancestors and haven't and are unwilling to adapt their
done much to make the business stand on production processes, even if it results in
firm grounds. losses.
▪ A small business owner who gradually ▪ Their resistance to change earns them
expands their operations, carefully the label of “laggards.”
considering market trends and customer
feedback.
ON THE BASIS OF BUSINESS TYPE
TRADING ENTREPRENEUR
CORPORATE AGRICULTURE
ENTREPRENEUR ENTREPRENEUR
INDUSTRIAL ENTREPRENEUR
TRADING ENTREPRENEUR
▪ Trading entrepreneurs are involved in buying and selling goods or services. They
operate in the realm of trade and play a crucial role in connecting producers and
consumers.
▪ Jeff Bezos, the founder of Amazon, started as a trading entrepreneur by establishing an
online bookstore. His venture eventually grew into a global e-commerce platform that
offers a wide range of products and services.
INDUSTRIAL ENTREPRENEUR CORPORATE ENTREPRENEUR
▪ Industrial entrepreneurs are involved in ▪ Corporate entrapreneurs exhibit
manufacturing and industrial sectors. entrepreneurial characteristics within
They set up factories, developed existing organizations. They drive
production processes, and produced innovation, develop new products or
goods on a large scale. services, and identify growth
opportunities for the company.
▪ Elon Musk, the CEO of Tesla and SpaceX,
is an industrial entrepreneur who has ▪ Google’s “20% time” policy allows
significantly contributed to the electric employees to work on personal
vehicle and space exploration industries. projects, fostering a culture of
He has built advanced manufacturing corporate entrepreneurship. This
facilities and developed innovative initiative has led to the creation of
technologies. products like Gmail and Google News
AGRICULTURE ENTREPRENEUR
▪ Agricultural entrepreneurs are involved in agricultural activities, including farming,
livestock production, and agribusiness.
▪ They focus on optimizing agricultural practices and finding innovative solutions to
meet the needs of the farming industry.
▪ Example: Joel Salatin, a sustainable farmer and advocate for regenerative
agriculture, is an agricultural entrepreneur known for his innovative farming
methods. He has developed practices that prioritize soil health and animal welfare.
ON THE BASIS OF
TECHNOLOGY
1. TECHNICAL ENTREPRENEUR
▪ Technical entrepreneurs possess specialized technical knowledge or skills in a
specific field or industry. They leverage their expertise to develop innovative
products, services, or solutions.
▪ Example: Bill Gates, the co-founder of Microsoft, is a technical entrepreneur
with a deep understanding of computer programming and software
development. He used his technical expertise to revolutionize the personal
computer industry.
2. NON TECHNICAL ENTREPRENEUR
▪ Non-technical entrepreneurs may not possess specialized technical knowledge
but excel in other areas such as business management, marketing, finance, or
leadership.
▪ They focus on identifying market opportunities, building teams, and creating
successful businesses.
▪ Example: Oprah Winfrey is a non-technical entrepreneur who built a media
empire. While she did not have a technical background, she excelled in media
production, hosting talk shows, and connecting with audiences, which led to
her success in various ventures, including television, film, and publishing.
OTHER
CATEGORIES OF
ENTREPRENEUR
1. FIRST-GENERATION ENTREPRENEUR
▪ A first-generation entrepreneur is an individual who starts a business or venture
from scratch without any family background in entrepreneurship.
▪ They often face unique challenges as they build everything from the ground up.
These entrepreneurs rely on their ideas, skills, and resources to establish
successful enterprises.
▪ Example: First-generation entrepreneur is Jeff Bezos, the founder of Amazon,
who started the company as an online bookstore and grew it into one of the
world’s largest e-commerce and technology corporations.
2. SECOND-GENERATION ENTREPRENEUR
▪ A second-generation entrepreneur takes over an existing family business or
venture that their parents or another family member originally established.
▪ They inherit an established foundation and have the advantage of learning
from the experiences and knowledge of the previous generation.
▪ Second-generation entrepreneurs often face the challenge of balancing the
preservation of the family legacy with the need for innovation and growth.
SOCIAL ENTREPRENEUR
• Social entrepreneur is interested in starting a business for the greater social good and
not just the pursuit of profits.
• Social entrepreneurs may seek to produce environmentally-friendly products, serve an
underserved community, or focus on philanthropic activities.
• Anshu Gupta, founder of Goonj in India, exemplifies social entrepreneurship by
repurposing urban surplus for rural needs, addressing clothing scarcity and boosting
dignity among the underprivileged. His innovative model recycles waste, bridges urban-
rural gaps, and showcases the power of combining compassion with innovation for
sustainable development.
• Social entrepreneurship can operate as a non-profit, for-profit, or hybrid business,
depending on your preferred business model and the funding availability.
• Social entrepreneurs design their thinking around the 6 P's of launching an idea: people,
problem, plan, prioritize, prototype, and pursue.
COMMUNITY SOCIAL ENTREPRENEUR Non-Profit Social Entrepreneur
▪ The first type is a community social ▪ Nonprofit social entrepreneurs focus on
entrepreneur. These leaders see a need the organization’s social, not
in a specific location and step in to financial, impact. In this case, social
address it. Usually, these entrepreneurs entrepreneurs start nonprofits
are individuals or smaller organizations organization to answer a need in their
that work directly community or a larger cause.
with community members. ▪ Instead of making significant amounts
▪ Community social entrepreneurs focus with their organization, they’ll reinvest
on long-term solutions that can take the profits into the business to ensure its
more time, but their efforts will usually long-term success.
last past their involvement.
SOCIAL ENTREPRENEUR IN INDIA
[Link] Name of Social Entrepreneur Description
1. Saalumarada Thimmakka This environmentalist is known for planting and
nurturing thousands of trees.
2. Ria Sharma Crusader against acid attacks, founder of the NGO
Make Love Not Scars.
3. Urvashi Sahni Social entrepreneur focusing on education and
women’s empowerment.
4. Chetna Sinha (Mann Deshi Bank) Founder of Mann Deshi Bank, empowering rural
women through financial inclusion.
WOMEN
ENTREPRENEURS
▪ Women Entrepreneurs means the women or a group of women
who initiate, organize and operate a business enterprise.
▪ An enterprise owned and controlled by woman having a minimum
financial interest of 51% of the capital.
TOP 10 WOMEN
ENTREPRENEUR
[Link]
/top-10-successful-women-entrepreneurs-in-india-28312/
▪ Women entrepreneurs can be broadly categorized into five
categories:-
1) Affluent entrepreneurs – These are daughters and wives of
wealthy businessmen. These women have the financial aid and
the necessary resources to start a new enterprise and take
business risks.
2) Pull factors – These are educated women living in urban areas
with or without work experience who take the risk of a new
enterprise with the help of financial institutions and
commercial banks. These women take up a new business as a
challenge in order to be financially independent.
3) Push factors – These women take up some business activity in
order to overcome financial difficulties. Generally widows and
single women manage an existing family business or develop a
new business due to difficult family situations.
4) Rural entrepreneurs – These women belong to rural areas and
choose a business suiting their resources and knowledge.
Business carried out involves low investment, minimum risk and
does not require any special skills.
[Link]
entrepreneurs-in-india/
5) Self-employed entrepreneurs – They are uneducated women
who fall below the poverty line. They choose tiny and small
enterprise which are convenient to manage and adequate for the
sustenance of her family.
STUDENTPRENEURSHIP
▪ Student entrepreneurship refers to the practice of students starting and running their own
businesses while still pursuing their education.
▪ It is a growing trend that allows students to gain hands-on experience in the business world and
develop valuable skills such as leadership, problem-solving, and innovation.
▪ Student entrepreneurship can take many forms, from launching a small side hustle to creating a
full-fledged startup.
▪ It is a way for students to turn their passions and ideas into tangible businesses, while also creating
opportunities for themselves and others.