Classification and types of

 

TABLE OF CONTENTS

Meaning and Definition

Introduction

The different classification of business entrepreneurs

Types of Entrepreneurs

The 10 Most Famous Entrepreneurs from India

Conclusion  

1. Meaning The word entrepreneur is derived from the French verb ‘enterprendre’ it means to undertake.

DefinitionAccording to Evans “entrepreneur are person who initiate, organize, managed and control the affairs of a business unit that combines the factors of production to supply goods and services whether business pertains to agriculture, industry trade or profession.”

2. Introduction

Clarence Danhof carried out a study on American agriculture and on the basis of his study classified entrepreneurs into four categories, viz. innovative entrepreneurs, initiative entrepreneurs, Fabian entrepreneur and drone entrepreneur. The other classifications are based on technology, economic activity and market economy.

3. Types of Entrepreneurs

Type of business

Use of Technology

Motivation

Stages in Development

According to Capital Ownership

According to Gender and Age

According to Area

According to Scale

Type of business

Business entrepreneur

Trading entrepreneur

Industrial entrepreneur Corporate entrepreneur  Agricultural entrepreneur

Use of Technology

Technical entrepreneur:

Non technical entrepreneur:

Professional entrepreneur:   

Motivation Pure entrepreneur: Pure entrepreneur is one who may or may not possess an aptitude for entrepreneurship but is tempted by the monetary rewards or profits to be earned from the business venture. He is status-conscious and wants recognition.

Induced entrepreneur: Induced entrepreneur is attracted by the various incentives, subsidies and facilities offered by the government. 'An entrepreneur is not born' —this is no doubt true as every person can be trained to become a good entrepreneur.

  Motivated entrepreneur:   The desire for self fulfillment motivates new entrepreneurs. They come into being because of the possibility of making and marketing some new product for the use of the consumers.

Spontaneous entrepreneur: These entrepreneurs are naturally talented. They are persons with initiative, boldness and confidence in their ability that motivates them to undertake entrepreneurial activity.

Stages in Development

First generation entrepreneur: First generation entrepreneur are those entrepreneurs who do not possess any entrepreneurial background. They start an industrial unit by means of their own innovative skills.

Modern entrepreneur: Second generation entrepreneur are those entrepreneurs who inherit the family business firms and pass it from one generation to another.

Classical entrepreneur:   A classical entrepreneur is a stereotype entrepreneur whose aim is to maximize his economic returns at a level consistent with the survival of the unit but with or without an element of growth.

 

According to Capital Ownership

1. Private entrepreneur  2. State entrepreneur

3. Joint entrepreneur

   

According to Gender and Age

(i) Man entrepreneur

(ii) Woman entrepreneur

(iii) Young entrepreneur

(iv) Old entrepreneur

(v) Middle-aged entrepreneur

According to Area

(i) Urban entrepreneur

(ii) Rural entrepreneur

According to Scale(i) Large scale industry entrepreneur

(ii) Medium scale industry entrepreneur

(iii) Small scale industry entrepreneur

(iv) Tiny industry entrepreneur

4. Types of Entrepreneurs

According to personal traits

According to vocation and career

 

According to personal traits

The serial entrepreneur

The lifestyle entrepreneur

The social entrepreneur

According to vocation and career

The seller

The innovator

The investor

The technical expert

5. The 10 Most Famous Entrepreneurs From

India1. Shiv Nadar 2. Rahul Bajaj

3. Anil Dhirubhai 4. Azim Premji

5. Ekta Kapoor 6. Vijay Mallya

7. Narayana Murthy 8. Sunil Mittal

9. Sabeer Bhatia 10. G.R. Gopinath

3. Anil Dhirubhai Ambani

1. Shiv Nadar

2. Rahul Bajaj

4. Azim Premji

5. Ekta Kapoor

7. Narayana Murthy

6. Vijay Mallya

8. Sunil Mittal

9. Sabeer Bhatia

10. G.R. Gopinath