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4.1.5 Kinds of entrepreneurs
We can classify entrepreneurs into the following categories: (i) Innovating Entrepreneur . He is one who introduces something new into the economy or employs a new technique of production, opens a new market, exploits a new source of raw material and reorganizes the whole enterprise. Generally, such entrepreneurs are found in developed economies because of open competition and less government controls. (ii) Imitating Entrepreneur . They lap up the innovations brought by innovating entrepreneurs. They are suited to developing countries which are constrained to take up expensive research. (iii) Fabian Entrepreneurs . Such entrepreneurs are very cautious and skeptical in adopting and implementing any change. They are lazy and shy and lack the will to adopt new methods. (iv) Drone Entrepreneurs . Drone entrepreneurship is characterized by a refusal to adopt and use opportunities to make changes in production. They are laggards as they continue to operate in their traditional way and resist changes. |