Classification of entrepreneurs

1. Innovative : is one who introduce new goods, and better

combination of an enterprise
2. Adoptive Or imitating : are those who imitate the successful
innovations made by other entrepreneurs
3. Fabian : they does not like to bring new change Or to adopt new
method
4. Drone : they follow traditional method of production

Other classification of entrepreneurs

1. Types of business
a) Business entrepreneurs: they have ideas of a new
product or service and start a business to materialise
his ideas
b) Trading entrepreneurs: they undertake a trading
activity and is not concerned with manufacturing
activities
c) Industrial entrepreneurs: they are manufacturers.
They manufacturers the products and satisfy
customers need
d) Corporate entrepreneurs: they plan, develop and
manage a corporate enterprise like a company
e) Agricultural entrepreneurs: they undertake
agricultural activities
f) Retail entrepreneurs: they promote and operate a
retail business
 g) Service entrepreneurs: they provide various types of
service activities with an intension of earning income
in the form of fees, remuneration etc
2. On the basis of the use of technology
a) Technical : they have great skill in production
techniques. He concentrate more on production than
marketing
b) Non technical: they are concerned about developing
alternative marketing strategies to promote the
business
c) Professional : they are dynamic & Interested in
establishing a business enterprise but not interested
to manage and operate
d) High tech : they are come concerned with the
application of high technology in respect of
production of goods
e) Low tech : they does not like high tech technology &
always like to use low technology
3. On the basis of motivation
a) Pure : he undertake the business for his own
satisfaction & for profit
b) Induced : they are the one who get induced by
various incentives, facilities & subsidies. Most of the
entrepreneurs belong to this category
c) Motivated : such entrepreneurs are motivated by the
chance of producing and marketing a new product for
the use of customers
d) Spontaneous : starts a business with the help of his
natural talents
4.On the basis of growth
 a) Growth : they are interested in taking up new
growth and had a bright prospect
b) Super growth : he likes to bring super growth of
performance in his industrial activities

5. On the basis of stages of development

a) First generation : he is a innovator who start the
business by combining different technology
b) Modern : they start the business which suits the
current marketing needs
c) Classical : his main aim is to maximize the profit by
satisfying the customers need
6. On the basis of scale of Operation
a) Small scale : they successfully carry out business in
small scale & earn small profit
b) Medium scale : they carry business in medium scale
that is in between large and small scale
c) Large scale : they start and operate business in large
scale
Difference between entrepreneurs &
intrapreneurs

1. Technopreneurs : they are the entrepreneurs who

is like technology, creative, innovative and
dynamic
2. Cultural entrepreneurs: they are cultural change
agents who organize cultural, financial, social in
 order to generate revenue from these cultural
activities
3. International entrepreneurs: the process of
entrepreneurs conducting business activities
across the national boundaries
4. Ecopreneurship : they are also known as green
entrepreneurship they undertake environmental
responsibility along with the goal of entrepreneur

Importance of women entrepreneurship

Women or a group of women who initiate,
organize and run a business.
Leadership qualities they required:
1. Willingness to face challenge
2. Effort to achieve the objective
3. Aspirations to reach high levels
4. Intelligent
5. Patience
6. Skill in learning new things
7. Desire to guide and lead others
Problems faced by women entrepreneurs
1. Financial problems
2. Over dependence on intermediaries
3. Heavy competition
4. High cost of production
5. Family matters
6. Lack of education
7. Social attitude
8. Make dominated society
 Solutions to the problem of women
eentrepreneurs
1. Financial help by the government
2. Supply of raw materials
3. Education & social change
4. Training
5. Family background
6. Support from the society

Micro, small and medium enterprises ( MSME)

The micro, small and medium enterprises are
playing an important role in the economic
development of a country. They provide huge
employment opportunities to both rural and
urban people. It requires only less capital.
Features of MSME/ role of MSME
1. Small investment
2. Labour intensive
3. Short period for establishment
4. The create economic stability
5. Better use of local resources
6. Reduction of unemployment
7. Self employment opportunities
8. Balanced regional development
9. Increase GDP
10. Environment friendly
Problems of MSME
1. Lack of finance
2. Scarcity of raw materials
3. Problems of marketing
4. Absence of skilled manpower
5. Absence of proper machinery &
equipments
6. Poor project planning
Steps in setting up MSME
1. Selecting the activities
2. Selection of the product
3. Conducting market survey
4. Selection of the form of ownership (
partnership, limited company,
cooperative)
5. Selection of location
6. Selection of technology
7. Ascertain the inputs required ( land,
building, machine, raw materials,
power, water etc)
8. Preparing project report
9. Arrangement of finance
10. Registration