Types of Entrepreneurs

Marketing Management 3(2+1)

Lesson 25 : What is an entrepreneur

Types of Entrepreneurs

Classification on the basis of:

  1. Type of business
  2. Use of Technology
  3. Motivation
  4. Growth
  5. Stages in Development
  6. Others
  1. Type of business
    • Business entrepreneur: Convert ideas into reality; deal with both manufacturing and trading aspect of business (Small trading and manufacturing business)
    • Trading entrepreneur: Undertakes trading activities; concerned with marketing
      (Domestic and international level)
    • Industrial entrepreneur: Undertakes manufacturing activities only; new product development etc (textile, electronics, etc)
    • Corporate entrepreneur: Interested in management part of organisation; exceptional organising, coordinating skills to manage a corporate undertaking (Ambani, Tata families)
    • Agricultural entrepreneur: Production and marketing of agricultural inputs and outputs (Dairy, horticulture, forestry)

  2. Use of Technology
    • Technical entrepreneur: Production oriented, possesses innovative skills in manufacturing, quality control etc.
    • Non technical entrepreneur: Develops marketing, distribution facilities and strategies
    • Professional entrepreneur: Uses the proceeds from sale of one business to start another one. Brimming with ideas to start new ventures

  3. Motivation
    • Pure entrepreneur: Psychological and economic rewards motivate him
    • Induced entrepreneur: Incentives, concessions, benefits offered by government for entrepreneurs motivates him
    • Motivated entrepreneur: Sense of achievement and fulfillment motivates him
    • Spontaneous entrepreneur: Born entrepreneurs with inborn traits of confidence, vision, initiative

  4. Growth
    • Growth entrepreneur: One who enters a sector with a high growth rate; is a positive thinker
    • Super growth entrepreneur: One who enters a business and shows a quick, steep and upward growth curve

  5. Stages in Development
    • First generation entrepreneur: Innovator, risk taker, among the firsts in family to enter business
    • Modern entrepreneur: Who considers feasibility of business, which can adapt to change and dynamic market
    • Classical entrepreneur: One who gives more importance to consistent returns than to growth; concerned about customer and marketing needs

  6. Others
    • Area- Rural and Urban entrepreneur
    • Gender/Age- Men and Women entrepreneur
    • Scale- Small and Large scale entrepreneur
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Last modified: Saturday, 17 December 2011, 7:46 AM