TECHNOPRENEURSHIP

Subject Code: E-07

Title: Technopreneurship
3 Units
3 Hours per week
Instructor: Engr Joselito A. Leonardo
 COURSE DESCRIPTION

This course covers the principles and theories of

technopreneurship.

Students are expected to develop and implement a

feasible business plan
 COURSE OUTLINE
PRELIM
I - What Is Entrepreneurship
 Who is an Entrepreneur?
 Why is entrepreneurship important?
 History of Entrepreneurship
 Types of Entrepreneur
 Functions of an Entrepreneur
 Why people do become Entrepreneurs?
 The Entrepreneurial Process
 Drawbacks of being an Entrepreneur
 26 Different Types of Entrepreneurship with Examples
 WHAT IS ENTREPRENEURSHIP? DEFINITIONS,
HISTORY, TYPES, PROCESS: 

Entrepreneurship can be called a technique for developing a new company by tackling all the
possible risks for making profits. In simple language, it is referred to as a procedure for finding
investment and production chances so that profit or social needs can be fulfilled. This process
has turned out to be a very important process for boosting economic development in a certain
market.
The person who is responsible for completing the entrepreneurship
process is known as an entrepreneur. He/she can be the individual who set
up an organization to enjoy a healthy profit from it. The exact definition
might be a vague task for some people, but the reason can be useful. The
entrepreneur can be a person who has started a manufacturing company or
even a first e-commerce store with an aim to earn money.

There are only possibilities and solutions explored by entrepreneurs where

the average individuals only look for problems while setting up the
business. Understanding the real meaning of entrepreneurship is beneficial
for people who want to give their contribution to the economic world.
 WHY IS ENTREPRENEURSHIP IMPORTANT?
As we already told, the entrepreneur is a problem-solving person who stays focused on developing
a solution. They are talented leaders who work for improving society and giving jobs to others.
Let’s have a look at the reasons that prove entrepreneurship is important below:
• Lowers unemployment
The jobs are created by entrepreneurship that helps others earn well. The entrepreneurs take risks
for giving employment to the society. They continuously focused on growing their business that
directly creates jobs. It helps in lowering the unemployment rate.
• Make Change
There are natural dreams in the ideas of entrepreneurs that can change the concept globally. It can
range from the development of a new product for solving the transport problem or a system that
purifies the air. While checking history, one can see how tremendous sort of things delivered by
entrepreneurs for the world.
• Boost the nation’s economy
As we all know, entrepreneurship can lead to the generation of money that can enhance the
economy of the country. The growth of new markets occurs due to the new ideas or improved
services provided by entrepreneurs.
 WHAT ARE THE MAIN CHARACTERISTICS
OF ENTREPRENEURSHIP?
• Economic Activity
A business is developed and run by the entrepreneurship so there will be involvement of
economic activity in it.
• Innovation
There are new ideas implemented discovered by entrepreneurship. Moreover, the trending
modes of operating a business are evaluated by an entrepreneur consistently.
• Risk Bearing
The main quality of entrepreneurship is the will power to deal with the risks. It takes place due
to the development and implementation of new ideas.
• Profit
The main motive of an entrepreneur is to make a profit with the idea he/she implements. It can
be called the reward of efforts performed by them.
 HISTORY OF ENTREPRENEURSHIP

Do you believe that the entrepreneurs started from around 20, 000 years back? Believe it or
not but the first trading took place in Guinea in 17, 000 BCE to exchange Obsidians for
required goods. 

Agricultural Revolution: About a millennium ago, trade was done by hunters and gatherers to
provide benefits to their tribes. Moreover, during the Agricultural revolution, the
entrepreneurship took a first big shift as the people started doing farming about 12, 000 years
ago and they produce food more than they required to sell the remaining in the market. 
However, there are some other areas of specialization such as Fishing, Cooking, Tool-making,
Shelter-making and Clothes-making. The expertise increased at a high pace and tricks of the
trade was becoming better and better. It was observed that the town and cities grew and there
was an establishment of religious centres, marketplaces and courts. It gave an opportunity of
entrepreneurship to experts in growing their business.
In the early times of entrepreneurship, people would work in the field of Pottery, Carpentry,
Wool-making and Masonry and the innovation increased in all areas. 
The trade expansion: Apart from the Agricultural revolution, the cities started existence
nearby rivers such as the Nile, the Tigris and Euphrates, the Indus, and the Yellow and Yangtze
in 2000BCE. Another important turn took place in Entrepreneurship here as they started trade
between cities and cultures such as the trade of salt, Chinese paper-making, rice, coffee,
lemon, oranges, gunpowder, etc. The trading of weapons became popular at that time and it
was the most successful trade of 2000BCE in the field of entrepreneurship. 

Introduction of money in the world of Entrepreneurship: During that time, trading took

place based on the barter system and the invention of money is another key element of
Entrepreneurship. With the development of currency in the form of paper money and coinage,
it facilitated entrepreneurs to do long-distance trade, fair exchange and store value. 
As the marketplaces grew, people started purchasing food, clothes and other things. So, there a
huge development happened because of Entrepreneurship as the small business owners need
financial help and then, there was the establishment of banks and guild system too. 
The beginning of Capitalism: Now, there was a revolution of innovation in Entrepreneurship
as the period gave rise to the paper mill, windmill, mechanical clock, the printing press and the
map. Then, the entrepreneurs started using innovate technologies for the innovation of their
business. But here the theory of mercantilisms introduced and the Entrepreneurs were known
as merchants as well as explorers in 1492. These entrepreneurs of that time were similar to
today’s as they raise capital, took risks and stabilize the economic growth. 
Here, capitalism has begun and the gold and silver were introduced. Moreover, the accounting
advancement of accounting advances by Luca Pacioli which created a standard track record for
the firm’s account. 

Machines and Markets in the 1800s: These years were fueled by “Machines and markets”. It
paved the way to Capitalism and the theory of Mercantilism destroyed in the field of
entrepreneurship. 

The Industrial Revolution: There was another astounding shift in the history of

entrepreneurship as the people started migrating from the small cities to the big cities for large-
scale production in the 18th century. The fundamental changes in Entrepreneurship were the
availability of energy and labour.  
Entrepreneurship after World War 2: As the economies changed over the globe, so
it paved the way for the entrepreneurs to sell their products and services worldwide
through the shipping across the world. During this period, few companies prospered
such as general Electric and aircraft like Lockheed, Holiday Inns and IBM. Japan
became the largest economies in the world. 

Today’s Entrepreneurship: In these days, Entrepreneurship is of paramount

importance around the world and has a great contribution to any nation. The modern
infrastructure and communication have made a new competition in the world of
Entrepreneurship. 
 RELATIONSHIP BETWEEN ENTREPRENEURSHIP AND INNOVATION

Innovation is an element which means to do something new or doing things in new

ways. It also comprises of new methods of production, introduces new products, new
market creations a discovery of new industrial organizations. It has a close relationship
with the Entrepreneurship. A business firm always wants to do something unique to
form some changes in the customer’s need and use innovations in all realms of life.
The innovation in any field of business created a vast competition in the market place.
These two phenomena are very closely related to each other as some sort of entrepreneurial
behaviour is required for innovation. However, the terms are not very similar. Various
functions from idea to innovation and growth are performed by different actors. At the initial
stage, ideas are formed by the researchers and investors but can be only identified by the
entrepreneur of any size of the firm.
 
Moreover, the entrepreneur converts the ideas into innovations and it helps to lower the cost. A
crystal clear relationship between Entrepreneurship and innovation means that the idea of
innovation is implemented by an entrepreneur.

Entrepreneurship
 DEFINITIONS OF ENTREPRENEURSHIP
• Numerous definitions of the concept of Entrepreneurship are there. Here are some of them as given
below: 
• According to Cunningham and Lischeron (1991), “Entrepreneurship is a series of learning activities
which focus on the central functions of managing a firm”. 
• Stevenson defined Entrepreneurship as, “… the pursuit of opportunity without regard to resources
currently controlled.” 
• As per Peterson (1985), the Entrepreneurship is defined as, ”… the opportunity-seeking style of
management that sparks innovation.”
• “Entrepreneurship is the act of forming a new organization of value.” (Bateman & Snell, 1996)
• According to Stoner, Freeman and Gilbert (1995), “Entrepreneurship is the seemingly discontinuous
process of combining resources to produce goods or services.”
• Entrepreneurship is, “…the creation of a new enterprise. (Bateman and Snell, 1996) 
• According to Dollinger, 1995, “Entrepreneurship is the creation of an innovative economic
organization or network of an organization for gain under conditions of risk and uncertainty.”
 TYPES OF ENTREPRENEUR
Different types of Entrepreneurs emerge based on interaction with the business environment. To the same
token, there are four types of Entrepreneurs such as Innovative, Imitating, Fabian and Drone which will be
discussed below: 
• Innovative Entrepreneur: The entrepreneur who is flooded with something new and wants to use the
same for business purposes. This type of entrepreneur is interested in inventive things and always takes
the first step to invest in a different type of research and development.
• Imitating Entrepreneur: Such type of Entrepreneurs always tries to mimic others and known as “copy
cats”. They observe the system deeply and replication the same in a better manner. Through the
implementation of various existing technologies, they make improvements in the products, procedures
and create something similar but much better as compared to others. It can be like the students will
become better than the master. 
• Fabian: These entrepreneurs adopt any type of technology and changes with utmost care and caution. But
they are shy and show laziness while adopting the technologies. 
• Drone: Such entrepreneurs are opposed to change, so they are considered as “old school”. Moreover,
they always stick to the orthodox methods of production and systems.
 FUNCTIONS OF AN ENTREPRENEUR
Various actions were taken by the Entrepreneur to establish a new firm and what an entrepreneur
does it is called as Entrepreneurship. Here, we will discuss the functions performed by the
entrepreneurship: 
• Entrepreneurial Functions: As an entrepreneur of an organization, the person has to perform
some of the basic functions related to his positions. First and the foremost function is to take
initiative in every activity that has to be done in the business and he is always ready to incur any
sort of risk related to any investment. Moreover, He has to build an organization with all their
efforts and also bring innovation in the business according to the changing demand to meet the
requirements of the customers. An entrepreneur is the only person who can take such decisions on
behalf of the business.  
• Managerial Functions: The entrepreneur is doing multi-tasking and starts to plan for the different
projects of the business. Moving further, he is also an integral part of organizing the business,
staffing, give direction to all the employees, controlling all the attached business work, leading the
subordinates, supervise every co-worker in their working and maintains coordination among the
employees. 
• Promotional functions: After the completion of production processes, an entrepreneur has
to find out the different ways to discover some ideas about the promotion of the goods and
services they provide to the customers. Moreover, he has to assemble all the requirements
related to the products and services. 
• Commercial Functions: Entrepreneur should also take care of all the activities related to the
commercial area of the business. The entrepreneur needs to keep an eye over the functions
associated with the production, marketing, personnel as well as accounting of the business.
• Financial functions: Entrepreneur is the only person who makes investments in the business
whether it is big or small in amount. He needs to plan all the finances of the business and
raise funds according to the requirement of the business as well as expenses in various areas.
However, the utilization of funds is also an essential part of the business which is also done
by the entrepreneur.
 WHY PEOPLE DO BECOME
ENTREPRENEURS?
There are ample numbers of the reason behind the desire to become an entrepreneur rather
than an employee. Becoming an employee is a traditional approach nowadays and as an
entrepreneur, you can decide what you want to do. But with the uncertainty and risk factor, it
comes with the tremendous approach of freedom as well as accountability. 
Here are some of the genuine engenders to become an owner of a business rather than a co-
worker of someone else.
• They like to take risks: It is irrefutable the entrepreneurs love risks! Although there are a lot
of unexpected risks, still they have a passion to deal with all the related risks of the business.
Their whole life is almost based on adventures as well as excitement. Moreover, they get
goosebumps when they succeed in their goal and brainstorm new ideas. Moreover, they are
always looking for high stake projects because they have enough confidence to handle and
execute it well. It does not matter to them whether these projects will make millions of bucks
or it may be a big failure in their life. 
• Have enough guts and experience: After getting years of experience and aware of the
market conditions, they decided not to continue with working for others and it’s time to
grasp something high on life by establishing own business. A strong desire in their heart tells
them that they have guts as well as big purpose in the globe that surpasses the idea of being
an employee. They want to succeed high in their life and strongly want to control their
destiny. 
• Admire other Entrepreneurs: A successful person of any industry can also inspire others to
do something blockbuster in their life. They want to get interact with people who have
already established their business in a very good way and now, they are one of the unbeaten
businessmen. They have a feeling that the next million-dollar idea can come from their mind
and change the lives of millions of people. 
• They get frustrated from bounds: A flexible lifestyle has a lot of hype but the reality is that
Entrepreneurship is not a shortcut that you can start a business and can touch the great
heights of success in the very first run. However, it needs a lot of efforts to get victory in the
field of business and hard work too. Moreover, there is a lot of flexibility in the area of
Entrepreneurship as compared to the monotonous job routine of nine to five job.
• They have inventive ideas: A level of imagination and a dash of insanity is a must for
working as an Entrepreneur. They are out of those people who can change the world by their
creative and imaginative ideas as they distinctively see the world as not as it is. They do
have genius ideas like Wright Brothers, Steve Jobs, Bill Gates and others. All these
personalities have a knack in their mind to change the world with a new advancement and
make some unique developments.
• Wants freedom at all: The level of freedom everyone wants is a normal fact but the
freedom that the Entrepreneur is seeking for is full freedom to do anything. Moreover, if you
want freedom from work, then Entrepreneurship is not your cup of tea. The person who
wants creative freedom can go for this field as it means to do something on your own
professional and not being free all the time for fun. 
• Financial Success: Everyone needs a better life flooded with luxurious things and this can
easily be achieved by becoming an entrepreneur. However, it is hard to get to that level of
financial success in a couple of days but it is a motivational factor that can easily push up
anyone to indulge in business. They can achieve their success and financial security too.
 THE ENTREPRENEURIAL PROCESS
The stages of entrepreneurial development are not easy to understand and happen to begin a business
firm. There is a difference between the person who just says things that are needed to happen for
starting a business and others who did the same. So, a huge distinction between the action of a
person and what a person thinks about. One step at a time can be developed in the entrepreneurial
stages while some continue with the existing lifestyle. 
The person who has an entrepreneurial culture, as well as spirit, can think to take a step ahead to get
closer to the goal. Although it is a long-term procedure the results are though fruitful. Here are some
of the stages for the entrepreneurial process.
• Idea Generation: The entrepreneur tries to find out why the particular service is not available and
how to make improvements in certain things by generating income to pay for the expenses.
Thousands of ideas arise and it will create a lot of opportunities to fulfill the needs of the market. It
is required to search for information and market analysis to look for the chances of success. A
number of people generate ideas to start a business but when it comes to implementing all the
ideas, they take their step back. It is not easy to commence business by just getting ideas as it takes
a lot of potentials.
• Decision Making and Business Planning: The decision to start a project is a crucial point
in the process of entrepreneurial. The two factors to land all the ideas for an entrepreneur are
activeness and motivation. Ask what material is needed and where to take all these as it is
vital to get the information about the project. The development of a proper plan can be done
to have a guide with you all the time.
• Project Creation: When the entrepreneur decided to obtain resources, then the project is
conducted. Finance is one of the major problems that creates hurdle in the commencement of
the business. The initial step of investment and operating all the ideas is a stress buster for
the entrepreneur as it is the beginning of the company. 
• Management and Control: Within the first few months, the company can see whether they
increase, decrease or maintain stability in sales. The main motive of an entrepreneur is to
maximize the revenue instead of concentrating on the infrastructure of the office. It is
troublesome to manage the entire business but as time goes on, it becomes easy for the
owner to manage the business as well as resources. 

Well, the entrepreneurial process ends here but it is no longer an entrepreneur and now, he or
she becomes a full businessman or businesswoman.
A Model of the Entrepreneurial Process
 DRAWBACKS OF BEING AN
ENTREPRENEUR
Every concept of business has two-fold effects as similar to Entrepreneurship. It has many plus
points related to the life of a person however, it also has some drawbacks that a person can
face sometimes. The choice of entrepreneurship is not all about your working schedules,
freedom to fun anytime and anywhere makes fun at work and creating your destiny. However,
it has also some minus points that can somehow de-motivate anyone to enter into this field in
the future.

• Sense of Responsibility: It is not only the responsibility of the entire business is in your
hands but also the paycheck too. When it comes to match and find differences between the
expenses and revenues, then everything is the responsibility of the owner only. You never
pay salary to the employees with low or unstable income and it makes you frustrated. Even,
you can pay easily, still, there is a kind of headache on mind every time. 
• Risk: The well-known fact is that business is nothing without risk. Whenever you
make an investment in any project or products or services, then there is always some
risk attached to it whether it is low or high but it is. Moreover, all your savings, time
as well as efforts are on the risk for the business only. 
• Loads of work: As we all know, an entrepreneur is an innovator, and a hustler too. It
takes too much effort to start with a new business and achieve great heights of
success. At the beginning of the business, you have to do all the work as you can
trust yourself or you don’t have that much budget to appoint a special person. It is a
tough task for a single person to handle all the grunt work and sometimes it seems
like exhausting. 
• Competition: In the business sector, the sharks are everywhere, especially the huge
and well-known firms. It becomes sometimes difficult to differentiate your business
from other industries. Moreover, it is required to plan something innovative and
unique in the business, so that it can grasp the attention of the customers at the first
look. 
• Working Schedule: The firm is yours and you are the only owner who is responsible for
the failure as well as the achievement of the business. So, the working schedule of an
entrepreneur is always not predictable. It is necessary to work for longer hours and late
nights at the beginning of the company. 
• Maximize Stress: An entrepreneur preoccupied with a lot of worries all the time. The
stress is about the uniqueness and how to succeed in their business with greater
profitability.
• Other limitations: Being an Entrepreneur is a daunting task as it requires a number of
sleepless late nights and lonely weekends to get success in this field. It becomes a
challenge for a person and is very opposite to reality.
Overall, Entrepreneurship is a double-edged weapon, with pros and cons at the same time.
But it is up to a person how it takes the concept. Be passionate about what you want to do
and not a single list of cons will stop you from doing so.
 WHAT IS THE ORIGIN OF ENTREPRENEURSHIP?
Have you ever thought when the entrepreneurship came into existence? There are tons of
meanings created over a certain period of time. Many think that the concept of
entrepreneurship invented in the modern world, but that’s not the reality. In this post, we
will talk about the origin and history of entrepreneurship in detail. Let’s check out the
complete post so read until the end.

When it all Started?

The first entrepreneurship came into existence about more than 20,000 years ago. Some of
you may be surprised to see this fact. However, the first known case tracts back to 17,000
BCE that took place in New Guinea. Here, the locals exchanged obsidian with things like
skins, food, and tools.
Such business continued for many millennia to come. During that time, the ancient tribes
exchange goods from various parts of certain areas for attaining a benefit for their tribe.
 
 EARLY REVOLUTION
The first great revolution took place in entrepreneurship during the 12,000 years ago in the
form of agricultural revolution. At that time, the individuals started to trade plants & animals
with others with foods. It becomes a fundamental shift in human history. As a result, the
human begins to create villages and towns near the fertile lands. The need for spending time
on hunting gets eliminated.

Moreover, the process becomes efficient with only some farmers staying involved in the food
production process, whereas the rest of people target other things. It makes individuals getting
specialized in a variety of professions. They were the earliest entrepreneurs in the history of
humanity. Some of the best areas of specialization at that time were fishing, tool-making,
clothes-making, and tool-making. After some years, the variety of specialist’s increases by the
addition of new areas likes carpentry, masonry, pottery, and many more.
Real Expansion from 2,000 BCE

 With the invention of cities globally, international trade started that resulted in making entrepreneurs wealthy.
Some popular trades at that time are mentioned below:
• Trade of salt from some African countries to nations fall under the Roman Empire.
• Trading of technologies like paper making from China to other parts of the world.
• Trade of lemons, oranges, and coffee by Arabians to European countries.
• Exchange of gunpowder from China to other nations of this world.
•  
Invention of Money
The invention of money resulted in development of entrepreneurship to a different level. The barter system
gets replaced with the exchange of money for goods. It resulted in providing a way to the entrepreneurs for
storing value. On top of that, the long-distance get facilitated with the money.

Industrial Age
It began all the way in the 18th century and continued until now. The businesses get boosted with the
availability of energy production and labor. The age of new ideas started here and is continuing till date. Now,
the entrepreneurship has become the heart of the economy. We believe the role of entrepreneurship will stay
the same for many centuries to come.
 26 DIFFERENT TYPES OF
ENTREPRENEURSHIP WITH EXAMPLES
Entrepreneurship is very significant and also an innovative procedure that has a wide range of
activities offering new things to society as well as civilization. Due to all the different activities,
Entrepreneurship is divided into various types and we will discuss below. So here are 26 different
types of entrepreneurship with examples that are discussed below. Let’s begin.
1. Administrative Entrepreneurship
Under this category, all the administrative techniques and functions of entrepreneurial activity is
included. It gives a very effective way to manage all the current as well as future situations that
avail the business with merits and a competitive edge.
There are few examples of Administrative Entrepreneurship that can give an idea such as
management of quality, redesigning of job, new techniques to do things and management by
consensus. All these tasks of this type of entrepreneurship maximize the efficiency of an
organization and nukes the achievements of the firm and sustain in the competitive marketplace.
Examples: The government of Bangladesh consider old-age pension scheme as administrative
entrepreneurship.
2. Opportunistic Entrepreneurship
“Hit the iron when it is hot” this proverb describes this kind of entrepreneurship and is the best
exhibit of the features of Opportunistic Entrepreneurship. New opportunities are also offered by the
changes in the environment but not every business owner is able to identify the opportunities and
utilize the same in a timely manner. The opportunistic entrepreneurship describes as identifying,
exploiting and performs the upcoming opportunities in the first hand.
Examples: FedEx, Arthur Fry and Lan Hancock etc.
3. Acquisitive Entrepreneurship
This type of entrepreneurship learns from the collection of demonstrable features and skills that
allows as well as improves the efficiency of the business and other related competencies is known
as Acquisitive Entrepreneurship. It equips something that is of new value, the competitive
environment and accomplishes the capacities technically. It helps to survive the business in this
world of competition. The highlighted point is that some failures never prevent them from learning
and developing new skills but also encourages them to figure out such new things all the times.
Examples: Imagesbazaar.com is an example of Acquisitive entrepreneurship, the founder Sandeep
Maheshwari failed to produce the master piece in his first year of lauch, but later on he discovered
how he can make his a idea big success.
4. Incubative Entrepreneurship
The generation of new sort of ideas and ventures within the premises of the organization is
involved in this category of Entrepreneurship. It manages it in a productive way and makes
sure the material gain for the business firm.
To exemplify, some of the tech companies like Microsoft and Nokia always discover and
promote new technologies in a wide range of products and forms differentiation among all the
categories of the products in the marketplace.
5. Imitative Entrepreneurship
Under an agreement with a franchise, this entrepreneurship imitates or copying the operative
products and services. It is a model that assists to spread a new technology across the globe so
that people can utilize it. It involves the adoption of current technologies from across the world
and takes on existing technologies with some few modifications that suit the local conditions.
Example: Walton BD. produced many products like refrigerators, motorbikes and other
electronic products without being the real creator of those products. Another example can be
China where mobile technologies is adapted and modified to take this to new level.
6. Private Entrepreneurship
Initiate entrepreneurship under the private sector is named as Private Entrepreneurship. The
government of every nation gives ample support services via public as well as private concerns
to motivate non-public initiative in taking the ventures of Entrepreneurship. Moreover, it
speeds up the economic development and maintains a balance between a layer and mutual
relationship.
Examples: Tesla, Disney, different food chains and hospitals all are examples of private
entrepreneurship.
7. Public Entrepreneurship
Public Entrepreneurship referred to as the entrepreneurship that is come under the government
through the various development agencies. All developed and underdeveloped nations take
initiative in venture ideas to meet the preliminary shortage of private Entrepreneurs. These are
different from private entrepreneurs because they work under government to solve public and
environment issues. Also they are not social entrepreneurs because they are bound to
governments rules and regulations.
For Examples: Hyman Rickover submarine and Nancy Hank, the chair person of national
endowment of arts are the examples of public entrepreneurs.
8. Individual Entrepreneurship
It is entrepreneurship that is managed and executed by an individual or a member of a family with
some personal motives as well as initiatives, thus it is called as individual Entrepreneurship.
Examples: Steve Jobs, J.k Rolling and Mark Zukerberg etc.
9. Mass Entrepreneurship
The emergence of this category of entrepreneurship occurs when there is a presence of a lot of
favourable climate of encouragement as well as a motivation among the common masses and this
describes the Mass Entrepreneurship. It leads to increase the small and large enterprises in a nation.
Examples: Food caterers, beauty salon and local shops
10. Small Business Entrepreneurship
A greater number of businesses in society are small that employ more than 50% of total non-
government workers in the United States. The profit in these types of businesses is pretty less as the
main reason behind them among employers is creating a living for their families.
Some premier examples of Small Business Entrepreneurship are grocery stores, plumbers,
confectionary stores, electricians, house cleaners, consultants, and hair dressers, among others. A
small entrepreneur can be the person who operates a business by hiring local people of family
members. The majority of them funds their business through friends or family or business loans.
Examples: Mint.com, core power, ozone coffee and Birchbox.
11. Large Company Entrepreneurship
There are finite life cycles found in large companies as the majority of them grow using
innovation. It let them create new variants apart from core products they manufacture.  The
reasons for disruptive innovations are customization in the demand of customer, establishment of
new technologies and the emergence of new competitors among others.
It results in the creation of completely new products so that these challenges can tackle
successfully. The large companies do this either by creating disruptive products or by acquiring
innovative organizations. The disruptive innovation becomes pretty difficult to apply in large
organizations.
Some Examples  of Large Company Entrepreneurship are LG, Tata, Microsoft, etc.
12. Scalable Startup Entrepreneurship
The majority of people believe that small business and Scalable Startup Entrepreneurship is same.
However, they are pretty different in reality. In this version of entrepreneurship, the company is
started with a vision that changes the universe. The funding in such businesses arises from the
venture capitalists, and that’s why there are top employees hired by them.
The main motive in this entrepreneurship is to seek a scalable and repeatable business structure.
After identifying them, they look for further funding so that business can grow. Only a little bit
number of businesses is scalable startups due to the involvement of risks.
Examples:  e-commerce websites, Facebook, etc.
13. Social Entrepreneurship
In this type of entrepreneurship, people in business are the innovators who target on development
of products and services, so that social requirements and problems can be solved. Unlike scalable
startup entrepreneurship, the main motive of entrepreneurs in this case is improving the world.
One of the Premier Examples about Social Entrepreneurship is SafePoint Trust. It is controlled
by Marc Koska and involved in the world of redesigning medical tools. Additionally, they
introduce the low-cost non-reusable syringes for clinics that lack money globally. Since its
foundation, this firm has delivered more than 4 billion safe injections in more than 50 nations
around the globe.
14. Intrapreneurship
This term was coined by Gifford Pinchot in the year 1973. It is based related to the fostering the
activities of entrepreneurs in a large organization by making improvements in the products and
branding them to increase the profitability. The valuable asset for an organization considered as
innovation and dedicated efforts by the intrapreneur.
The four elements of Intrapreneurship are the right structure, suitable manpower, reward and
collaboration for a bright future. This entrepreneurship is very significant in this changing world of
competitiveness in the marketplace.
For instance, some of the examples of this type of entrepreneurship are Google, Intel, 3M and so on.
15. Technopreneurship
It is a blend of two words, technology and Entrepreneurship. It a kind of entrepreneurship in the
intensive technology context and the process of amalgamating the entrepreneurial skills and
technology where the technology is used as an essential part. It is a sort of new breed of
entrepreneurship and needs an entrepreneur who is creative, techno-savvy, passionate as well as the
ability to calculate associated risk in advance.
The most Popular Examples of technopreneurship are Microsoft, Apple, Facebook, Twitter,
Instagram and so on. IT plays an important role and gives benefits such as generate employment, the
best utilization of resources, growth of technology and creates capital.
16. Cultural Entrepreneurship
These entrepreneurs’ changes culturally who organize cultural, financial, social as well as human capital to make
a profit out of it. They produce products that are culturally good and generating a lot of opportunities for
economy, society and culture. These firms are coming frommicro, small to large enterprises.
Such entrepreneurship works in cultural professions such as artists, writers, musicians, dancers, advertisers,
bloggers, architects and so on. The motive of such firms is the betterment of society by leverage the business.
Sometimes, cultural entrepreneurs lie on media tools like Twitter and Kickstarter to change the ideas, belief and
behaviour of the people through communication and influence.
Examples: Singers, Musicians, Artists and Writers.
17. International Entrepreneurship
It is the whole process of entrepreneurship conducts ad, performs the activities of the business across the
boundaries of the nation. It involves various activities such as opening new branches of a business firm in new
locations, exporting the products to other countries and get a license to sell as well as promote the products across
the nations. The highlighted purpose of this entrepreneurship is to fulfill and satisfy the needs and wants of the
target audiences.
This entrepreneurship gets the benefit when the demand for products increases internationally but the need for the
same product is domestically not required or decreasing. It is very significant in different aspects such as lower
the cost of manufacturing, increase in sales and profit, Globalization, cheap labours, developing the habit of
Customer relation Management and utilizes the talent to a great extent along with the managerial competencies.
Examples: Google, Apple and Mcdonalds etc.
18. Ecopreneurship
It is also named as “Green entrepreneurship”. It involves the perspectives that signify corporation with
the environment by working on their goals as well as profitability. This term gained popularity in the
year 1990s and termed as “Environmental entrepreneurship”.
Last but not least, this entrepreneurship is concerned with the problems of the environment while
focusing on the operations of the business firm and its profit margin. It has three main concepts such as
Eco-innovation, Eco-opportunity and Eco-commitment.
Examples: Body Shop and Ben and Jerry’s, Patagoina, Clif Bars and Grow Green Happiness etc.
19. Agripreneurship
A formidable role has been played by agriculture in the growth of the economy and its development too.
When a business owner started to make developments in the field of agriculture, then it is known as
Agripreneurship. It is like a simple business and includes all the operations of a business firm such as
manufacturing, production and distribution of farm supplies.
In addition to this, it also includes floriculture, horticulture, sericulture, animal husbandry, biotechnology
and so on. Basically, it is a type of farming business includes the profitability, use of digital technologies
to improve farming, farm management, and innovative solutions and reduce the wastage of crops.
Examples: Spin Farming, Rantachook, Herbal Processing Units, Plant Clinics are also the examples of
agripreneurship.
20. Transpreneurship
When the people from various groups of gender such as transgender and Hijra, comes up with
some small scale businesses to fulfil their day to day needs, then it is widely known as
Transpreneruship. It is associated with the third class of gender where people are not only
beggars or sex workers, but they get their bread and butter from doing any small scale
business.
For example: A fair was organized by “Anam Prem” in Mumbai where thirty-five stalls were
there and most of the shopkeepers belong to transgender started their stalls of different
products such as food, artificial jewellery, artificial flowers and so on.
21. Commercial Entrepreneurship
This type of entrepreneurship associated with the profitability only and emphasized the
opportunities and not on the resources. It uses the available resources lies between the
hierarchies as well as handles the network on behalf of the entity. It is viewed as profit-based
entrepreneurship as all the operations held by taking profit as a major motive. This concept
was coined about 250 years ago and focuses on the economy.
Examples: Any organization that works for profit like tiktok, facebook, snapchat  and not for
society issues.
22. E- Entrepreneurship
This is also known as E-Entrepreneurship or Cyberpreneurship. In this world of full of technology, the
sea of opportunities is there where individual, organizations as well as social and nations can use their
mobile phone and computer again and again to access the online services. The influence and outreach
of the internet are already known by every business and there is less presence of brick and mortar
businesses.
Every business owner tries to shift to online business and get a reward from technology. The term
“Entrepreneurship” indicates analyzing and identifying the bunch of resources and converts the same to
online venture business. This sort of entrepreneur is also known as SENs (Self Employed
Entrepreneurs).
Examples: Amazon, Ebay and Etsy etc.
23. Domestic Entrepreneurship
When a business owner produces goods and provides services within the boundaries of a nation, then it
is known as Domestic Entrepreneurship. They follow all the rules and regulations related to the
business established by the government of the country to grow their business domestically. It complies
with the policies of the government, highly convenient, culturally sensitive, adapts the technologies,
better understand the local system, more opportunities for growth and risk as well as reward.
For Examples: House Cleaning, Dog Walking and Freelance writing etc.
24. Trading Entrepreneurship
These are a kind of mediator between the manufacturer of a product and its customers or
retailers or wholesalers. All the activities related to the trading of an organization are done
through such type of entrepreneurs. It serves as middlemen for dealers, wholesalers,
manufacturers and the customers.
Examples: Paul Tudon Jones, Nick Leeson and John Key etc.
25. State Entrepreneurship
When a business firm is managed and operated wholly by the state or the government of the
state, then it is defined as “State Entrepreneurship”. All the trading, as well as industrial
ventures, are fully undertaken by the state only and not a single entrepreneur is there.
Examples: Any Business that is based on state like Investpunjab in India.
26. Joint Entrepreneurship
It is a collaboration of private and public entrepreneurship. When a business enterprise if partly
owned, controlled and managed by a private entrepreneur and the government, then it is named
as Joint Entrepreneurship.
• Examples: Smart Phone development by Nokia and Microsoft
END OF PRELIM