Introduction to

Entrepreneurship

Sangam Jadhav
ENTREPRENERUSHIP
Entrepreneurship refers to the functions performed by an
entrepreneur in establishing the enterprise (business)
According to Joseph Schumpeter, “Entrepreneurship is based on
purposeful and systematic innovations. It includes not only the
independent businessmen but also company directors and managers
who actually carry out innovative functions”
EVOLUTION OF ENTREPRENERUSHIP
TYPES / CLASSIFICATION OF
ENTREPRENEURS
1. Innovative Entrepreneur.
2. Imitative Entrepreneurs.
3. Fabian Entrepreneurs.
4. Drone Entrepreneurs.
5. Business Entrepreneurs.
6. Trading Entrepreneurs.
7. Co-Operative Entrepreneurs.
8. Professional Entrepreneurs.
9. Paper Entrepreneurs.
10. Induced Entrepreneurs.
1. Innovative Entrepreneur:
He is the one who introduces new products, new production
methods, discovers new markets and reorganizes the enterprise.

It is important to know that such entrepreneurs can work only when
a certain level of development is already achieved and people look
forward to change and improve.
2. Imitative Entrepreneurs:
These types of entrepreneurs are characterized by readiness to adopt
successful innovations which are innovated by innovative
entrepreneurs.

Imitative entrepreneurs do not innovate ,changes themselves.

They only imitate(reproduce) changes in techniques and technology

innovated by others.
3. Fabian(caution) Entrepreneurs:
These entrepreneurs are characterized by great caution and
skepticism in experimenting any change in their enterprise
They usually do not take any new challenge
They imitate only when it becomes perfectly clear that failure to do
so would not result in a loss of the relative position in the enterprise.
4. Drone Entrepreneurs:
They are characterized by a refusal to adopt any change even at cost
of severely reduction of profit.
They do not adopt to new changes in production techniques or any
other new technological changes ( Bajaj scooter )
Such entrepreneurs may even suffer loss but will not adopt or accept
the change in existing methods.
5. Business Entrepreneurs:
These entrepreneurs convince an idea for a new product or service
and then create a business to commercialize and implement these
ideas into reality.
6. Trading Entrepreneurs:
He is an entrepreneur who undertakes trading activities and he is not
at all concerned with manufacturing activities
He identifies potential markets, stimulates demand for his products
and creates desire amount for his buyers to buy his product
7. Co-Operative Entrepreneurs:
He is a person who demonstrates his innovative skills in an
organization
He co-operates the undertakings and he plans, develops and
manages the corporate bodies
8. Professional Entrepreneurs:
He is a person who is interested in establishment of business but not
interested in managing it
Once it established, he sells out the running business and starts other
ventures with the same and proceeds
9. Paper Entrepreneurs:
Entrepreneurs of this type give advice through newspapers and
magazines and also have a professional degree and knowledge in
particular specialized areas like business, sports, health, legal matters
etc.
Newspapers and magazines may have special columns which are
reserved for above categories
Paper entrepreneurs write articles and answer the questions of public
for which they get remuneration
10. Induced Entrepreneurs:
He is the one who is induced to take up entrepreneur activity due to
change in policy measures of the government that provides
assistance, incentives and other necessary facilities to start the
enterprise
What are the daily usual problems you face?
• Frame the entrepreurship opportunity
Entrepreneurship as a Career
• What leads a person to take up entrepreneurship as a career option?
There can be a number of reasons including displacement from a job,
frustration in the present job, not getting a job of his/her choice, etc.
Sometimes a person realizes much in advance that his/her job is in
jeopardy, as the organization is moving towards closure. At times a
deserving employee getting superseded in promotion is compelled to
quit the job and look for doing something on his own. Some people
object to a system wherein reward is often based on seniority rather
than merit.