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Types of Entrepreneurs
Types of Entrepreneurs
Types of Entrepreneur
Different types of Entrepreneurs are classified by different academicians and behavioral scientists. Classified based on the differentiation in the behaviour and attitudes, roles, functions, industry and many more relevant characterisations.
Schumpeter
The entrepreneur is the adventurous innovator who acting on his own account, introduces changes that others do not dare to experiment with.
Arthur H. Cole
Distinguishes between empirical, rational and cognitive entrepreneurs. The empirical entrepreneur
hardly introduces anything revolutionary and follows the principle of rule of thumb.
Clarence Danhof
The innovating entrepreneur
Innovators are the people who introduce new product or service or initiate a new system in the economy or the environment.
Focus
An economy which is making a lot of technical advancement.
large number of innovating and adoptive entrepreneurs less number of Fabians and drones.
Characteristics
Innovating entrepreneurs
Aggressive assemblage of information Analysis of results derived from sound combination of factors Sees opportunity for introducing a new technique. Raises funds Face high risk Fabian entrepreneurs
Drone entrepreneurs
very cautious and sceptical shy and lazy Dealings are determined by custom, religion, tradition and past practices. Follow their predecessors
Other Types
Solo Operators
Work alone, if needed employ a few employees.
Active partners
Joint venture-actively participate Partners only provide funds
Inventors
Invent products
Challengers
Look for challenges
Buyers
Buy on going company
Life timers
Integral part of life-family enterprise.