2 types of entrepreneurship

MODULE 2

TYPES OF ENTREPRENEURSHIP

16/6/2015 nadzir ahmad

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Objectives

To disseminate and intensify knowledge on the different types of entrepreneurship and entrepreneurs.

To differentiate the differences based on entrepreneurial activities as well as the functions assumed by the entrepreneurs.

Learning outcomes

Classify the types of entrepreneurship and entrepreneurs into proper context without any difficulty.

Differentiate and articulate the different types of entrepreneurship and entrepreneurs that exist in the current entrepreneurship literature.

Explain the differentiating factors based on based on the respective entrepreneurial activities and functions of the entrepreneurs.


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• Topics

• Introduction

• Entrepreneurship Versus Entrepreneur

• Types of Entrepreneurship

• Types of Entrepreneurs

• Summary


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INTRODUCTION

• Entrepreneurship is a process of identifying

the opportunity, converting the opportunity into

marketable products or services using creative

and innovative means, and through the process

creates value and wealth to the society.

• Entrepreneurs are individual who undertake

entrepreneurial process


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ENTREPRENEURSHIP VERSUS ENTREPRENEUR

Entrepreneurship refers to an entrepreneurial

process

Entrepreneur is the individual that executes

the process.


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Corporate Entrepreneurship

Private or independent entrepreneurship

Intrapreneurship

Social entrepreneurship

Public Sector Entrepreneurship

Academic Entrepreneurship


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CORPORATE ENTREPRENEURSHIP

• Refers to the entrepreneurial activities carried out

in large corporations. Large companies have to

continually expand and diversify their

entrepreneurial activities in order to sustain their

existence by creating new products or services to

their customers.

• Entrepreneurial activities in the corporate setting

can be seen at different stages or scopes.


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PRIVATE OR INDEPENDENT

ENTREPRENEURSHIP

Refers to entrepreneurship activities of private

or independent firms where the

entrepreneurship process is most prevalent.

Independent entrepreneurship contributes to

the nation’s economy in terms of providing jobs

and value added initiatives.


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INTRAPRENEURSHIP

• Innovative corporate management strategy that encourages employees within an organization to create new product ideas.

• Often associated with larger companies that have taken notice of the rise in entrepreneurial activity in recent years;these firms endeavour to create an environment wherein creativeemployees can pursue new ways of doing things and new product ideas within the context of the corporation


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SOCIAL ENTREPRENEURSHIP

• Refers to the entrepreneurial activities carried out by social enterprises, NGOs and charitable organizations.

• Involves recognition of a social problem and the application of the entrepreneurial approach to organize, create and manage a venture to achieve the social objectives or social ROI (return on investment).

• Eg economic- based social entrepreneurship is Grahmeen Bank in Bangladesh


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PUBLIC SECTOR ENTREPRENEURSHIP

• Refers to entrepreneurial activities carried out

by government-linked companies (GLCs) or

state-owned enterprises.

• These companies were formed as part of the

nation’s privatization programme

• Example: State Economic Corporations (SEDCs)


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ACADEMIC ENTREPRENEURSHIP

• Entrepreneurial activities in academic and

research institutions mainly involve research

and development new products, processes,

systems, materials, etc. with the objectives that

these innovations will lead to intellectual

property rights and commercialisation

• Also known as knowledge entrepreneurship.


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TYPES OF ENTREPRENEURS

Corporate Entrepreneurs

• who manage large corporations usually public

listed companies

• Either employed or own shares in the

corporation

• known as ‘intrapreneur’

• are professionals


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Independent Entrepreneurs

• -pure type of entrepreneur

• -they are independent , own and manage own

company

• -usually exhibit extensive entrepreneurial

characteristics


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Social Entrepreneurs

• exist in social organizations or enterprises

• known as social leader of agents of

transformation

• their roles in instilling an entrepreneurial mind-

set to their respective target groups


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Public Entrepreneurs

• Entrepreneurs found in public sector

organizations including government-linked

companies and state-owned enterprises

• Applying entrepreneurship principles in

managing

• Do not own the companies


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Academic Entrepreneurs

• Exist in most institution of higher learning and

research and development organization

• Involved in entrepreneurial activities that lead

to innovation and commercialization of R & D

• Known as knowledge entrepreneurs


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OTHER VARIANTS OF ENTREPRENEURS

• Serial Entrepreneurs-those who continuously start

new ventures and sell off the venture at a later

stage

• Lifestyle Entrepreneurs-start new ventures out of

their passion rather than solely for profit

• Nascent Entrepreneurs-those aspire to take up

entrepreneurship as a career option

• Necessity Entrepreneurs-are involved in

entrepreneurial activities not by their own choice


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OTHER VARIANTS OF ENTREPRENEURS

• Technopreneurs-entrepreneurial persons who are technology savvy and earn a fortune using their expertise in the respective technologies

• Intrapreneur-a person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product through assertive risk-taking and innovation

• Agripreneurs-involved in entrepreneurial activities in the agriculture sector

• Infopreneurs-those who utilize information as commodity for sale

• Edupreneur-those involved in setting up educational institutions privately with the objective to make profit


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SUMMARY

• The classification of entrepreneurship are:-

• based on the type of entrepreneurial activities

carried out in specific organization and

• based on their roles and functions in the

specific type of organization


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2 types of entrepreneurship

Business