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Entrepreneurial Strategies and Types

The document outlines various types of entrepreneurs, including innovative, imitating, Fabian, drone, and social entrepreneurs, each with distinct characteristics and examples. It also discusses the internal and external elements affecting businesses, such as strengths, weaknesses, opportunities, and threats, as well as career opportunities and challenges for entrepreneurship graduates in roles like marketing, sales, and production management. Overall, it provides a comprehensive overview of entrepreneurial dynamics and career pathways.

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divinagraciajherra
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7 views54 pages

Entrepreneurial Strategies and Types

The document outlines various types of entrepreneurs, including innovative, imitating, Fabian, drone, and social entrepreneurs, each with distinct characteristics and examples. It also discusses the internal and external elements affecting businesses, such as strengths, weaknesses, opportunities, and threats, as well as career opportunities and challenges for entrepreneurship graduates in roles like marketing, sales, and production management. Overall, it provides a comprehensive overview of entrepreneurial dynamics and career pathways.

Uploaded by

divinagraciajherra
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Entrepreneur’s initiative

Organization of capital resources

Development of administrative machinery

Development of entrepreneurial autonomy

Development of SWOT analysis


Internal Elements Answers

unique tastequality ingredie


Strengths
ntsfriendly staff

low profitsno business webs


Weaknesses iteless offerings than compe
titors
External Elements Answer

market boomexpansion of bra


Opportunities nchescan implement a loyalty
program

rising cost of ingredientsnegat


Threats ive reviewsincreasing number
of competitors
SUMMARY
Types of Entrepreneurs
1. Innovative entrepreneurs
- Have the ability to think newer, better and more
economical ideas of business organization and
management.

Ex.
 Introduction of a small car “Nano”- by Ratan Tata
 Organized retailing – by Kishore Biyani
 Making mobile phone- by Amil Ambani
2. Imitating entrepreneurs

- Are people who follow the path shown by innovative


entrepreneurs.
- Development of small shopping complexes is the work of
imitating entrepreneurs.
- All the small car manufacturers now are imitating
entrepreneurs.
3. Fabian entrepreneurs

- These types of entrepreneurs are skeptical about the


changes to be made in the organization.
- They do not initiate any inventions but follow only after
they are satisfied with its success rate.
4. Drone entrepreneurs

- “Drone- is a person who lives on the labor of others”.


- are those individuals who are satisfied with the existing
mode and speed of business activity and show no
inclination in gaining market leadership.
5. Social Entrepreneurs

- Drive social innovation and transformation in various fields


including education, health, human rights, workers’ rights,
environment and enterprise development.
5. Social Entrepreneurs

Ex.
Cecilio Pedro developed multi-flavored toothpaste for
children that came brightly packaged in tubes and boxes
adorned with “ Sesame Street” characters.
Jobs Tasks Challenges
Career Opportunities for entrepreneurship graduates

Marketing manager

They plan, coordinate, and oversee marketing or advertising efforts


across the team or agency, ensuring operations run smoothly .

Challenges

Marketing managers are required to assess consumers,


anticipate the market, and analyze other factors that influence
marketing such as political, environmental, and economic
changes.
Sales manager

Sales managers recruit, hire, and train new members of the sales staff.

Challenges
• Lame sales meetings with poor coaching
• Limited sales training programs
• Lack of discipline
• Not making enough sales calls with team members
• Inadequate metrics or pipeline insights
• No sales formula
• Lack of focus on fun and culture
• Inconsistent recruiting
Store manager

running and monitoring all operations in a store.

Challenges

fierce competition, customer retention, and adapting to market


trends.
Production manager

responsible for coordinating and executing production processes in an


organization. They play an important role in managing and controlling
the resources used to produce goods or services.

Challenges

needs to clearly understand the industry and its trends.


Mid-level management

At big companies, the C-level folks develop ideas, the ground


force does the work, and mid-level management converts the
idea into execution.

Business Consultant
A person who can go to client site, identify problems and fix
them.
Name of Job Designation Business Skills/
Entrepreneur Before started Knowledge
Becoming an Acquired and
Entrepreneur Challenges
Encountered
1.
2.
3.
4.
5.
6.

Common questions

Powered by AI

Mid-level management translates high-level strategies into operational plans and ensures execution, focusing on coordination and resource allocation. In contrast, the ground force implements these plans directly, dealing hands-on with daily operations and troubleshooting immediate issues .

Rising ingredient costs can squeeze profit margins for small businesses, forcing them to increase prices or find alternative suppliers, which may impact customer satisfaction and loyalty. This threat necessitates strategic planning to adjust operations and maintain competitiveness .

Sales managers face challenges like organizing effective sales meetings, providing adequate training, maintaining team discipline, and analyzing pipeline metrics. Overcoming these involves implementing structured training programs, developing comprehensive sales strategies, and fostering a culture of continuous improvement .

Fabian entrepreneurs may adopt new inventions when there is substantial evidence of success and minimal risk involved, or when competitive pressures necessitate change to maintain market position .

A social entrepreneur may target children's products to address specific social needs, such as improving dental hygiene among kids. By using attractive packaging and familiar characters, they can effectively engage children, ensuring the product's educational and health benefits are realized .

Innovative entrepreneurs create new ideas and business models and introduce products, as seen in examples like Ratan Tata's 'Nano' car . Imitating entrepreneurs, on the other hand, follow the path laid by innovative entrepreneurs, adopting already proven business models, such as the small shopping complexes inspired by larger successes .

A business consultant can address client challenges by first conducting a thorough assessment of the business environment and operations. They need to identify specific problems, analyze underlying causes, and develop tailored solutions. Effective communication and collaboration with client teams are crucial to implement changes smoothly .

A marketing manager can analyze market trends by observing consumer behaviors, economic factors, and technological advancements. By understanding these trends, they can develop advertising strategies that align with current and future consumer needs, ensuring campaigns are timely and relevant .

A store manager can address customer retention by ensuring excellent customer service, implementing loyalty programs to reward repeat customers, and consistently adapting to market trends to keep offerings competitive and appealing .

SWOT analysis allows entrepreneurs to understand their internal strengths and weaknesses and external opportunities and threats, helping them make informed strategic decisions. This understanding fosters autonomy by equipping entrepreneurs with insights to navigate their business environment effectively .

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