2 types of entrepreneurship
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TYPES OF ENTREPRENEURSHIP
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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TYPES OF ENTREPRENEURSHIP
• 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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TYPES OF ENTREPRENEURSHIP
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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TYPES OF ENTREPRENEURS
Independent Entrepreneurs
• -pure type of entrepreneur
• -they are independent , own and manage own
company
• -usually exhibit extensive entrepreneurial
characteristics
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TYPES OF ENTREPRENEURS
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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TYPES OF ENTREPRENEURSHIP
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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TYPES OF ENTREPRENEURSHIP
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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