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WELCOME
TO
SKILL INIDA SKILLING
COURSE
MODULE 12: ENTREPRENEURSHIP

MAPPED TO DGT/VSQ/N0102
(VERSION NO. 1)
 Course Handout Template

Course Title : Entrepreneurship

Course Code : Module 12

Duration : 7 Hours (3 Theory+ 4 Practical)

Instructor : Dr. John Philip

May 11, 2024

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 COMPETENCY DISTRIBUTION

Theory 1

Theory 2

Theory 3

Practical 4

Theory1& 2
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Theory 3
Module 12 ENTREPRENEURSHIP
Practical 4 4
 SYLLABUS

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 Explain the types of entrepreneurship and enterprises

Theory-2 Discuss how to identify opportunities for potential business, sources of funding
and associated financial and legal risks with its mitigation plan

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ENTREPRENEURS
HIP
Definition of Entrepreneurship

An entrepreneur is an individual who creates a new business, bearing most of

the risks and enjoying most of the rewards. The process of setting up a business
is known as entrepreneurship.

Entrepreneurship is when an individual who has an idea acts on that idea,

usually to disrupt the current market with a new product or service.
Entrepreneurship usually starts as a small business but the long-term vision is
much greater, to seek high profits and capture market share with an innovative
new idea.

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What are types of entrepreneurship
1. Small businesses entrepreneurship
2. Scalable startup entrepreneurship
3. Intrapreneurship
4. Large company entrepreneurship
5. Imitative entrepreneurship
6. Innovative entrepreneurship
7. Buyer entrepreneurship
8. Researcher entrepreneurship
9. Hustler entrepreneurship
10. Social entrepreneurship

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 What are types of entrepreneurship

1. Small businesses entrepreneurship

This type of entrepreneurship refers to any kind of small business that has been created by one
person, without the goal to expand or franchise. For example, if you were planning to open a nail
salon, a general store or a taco truck your goal would be to launch a single store.

In this type of business, you only make a profit if your company does

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What are types of entrepreneurship

02. Scalable startup entrepreneurship

Rooted in the idea of changing the world, scalable startups focus on how to create a business model that is
both repeatable and scalable (more sales with more resources). From the get go, this style of
entrepreneurship begins with the hope of rapid expansion and big profit returns. Many startups have a
similar ‘garage to riches’ narrative, beginning with a simple idea that is brought to life by the tenacity of
entrepreneurs with the support of investors. Amazon, Google and Apple are all examples of trailblazing
startups that have changed the world.

In order to establish a successful startup, you need to pay attention to the amount of money you have (which
is often supported by venture capital investors) and the human resources behind your business.

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What are types of entrepreneurship

03. Intrapreneurship
Unlike an entrepreneur, who is also the founder, designer and manager of a business, an intrapreneur is a
self-motivated, and action-oriented employee who thinks out of the box and works as an entrepreneur
within a company. Intrapreneurship is a way that companies can support and encourage employees that
have entrepreneurial spirit.

Shutterstock, for example, hosts an annual 24-hour hackathon which lets employees pursue innovative
ideas that will benefit the company. Another example of an intrapreneurial innovation is Facebook’s
‘Like’ button which was also created in a similar hackathon event, which is now an integral part of the
brand.

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What are types of entrepreneurship

04. Large company entrepreneurship

Large company entrepreneurship refers to companies like Disney, Google, Toyota, and Microsoft who
have finite life cycles, as in, they keep innovating and offering consumers new products that are variants
around their core product-line.

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What are types of entrepreneurship

05. Imitative entrepreneurship

Imitation is the best form of flattery, and an imitative entrepreneur (also referred to as an adoptive
entrepreneur) is one who copies what successful innovative entrepreneurs have previously done, most
often with lower financial risks and limited resources.

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What are types of entrepreneurship

06. Innovative entrepreneurship

Innovative entrepreneurs, as the name suggests, are constantly trying to come up with the next big thing. If
you have groundbreaking ideas of how to start a business or specific services and products that can
become business ventures, you might be an innovative entrepreneur.

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What are types of entrepreneurship

07. Buyer entrepreneurship

You’ve probably heard the saying “money makes money”, and for a buyer entrepreneur this definitely
rings true. Instead of figuring out how to raise money for a business, a buyer entrepreneur purchases either
a developing or well-established company and helps them thrive.

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What are types of entrepreneurship

08. Researcher entrepreneurship

Researcher entrepreneurs rely on facts, data and the belief that with the right preparation and knowledge
will be more likely to succeed. If this sounds like you, this is exactly what research entrepreneurship is all
about—a great business idea paired with academic research, and an understanding of how to stretch
limited resources to the max.

Take a look at Nobel Prize winner and physicist, Theodor Hänsch, a researcher entrepreneur who co-
founded MenloSystems, taking his winning optical frequency comb technology and using it to make
products for the market.

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What are types of entrepreneurship

09. Hustler entrepreneurship

Don’t let the name throw you off, a hustler in business refers to a self-starter, a highly motivated person
who is driven to succeed. This type of entrepreneurship style grows directly from the entrepreneur, who
must be confident, fearless and have rigorous work ethic.

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What are types of entrepreneurship

10. Social Entrepreneurship

Social entrepreneurs are innovators whose main goal is to create products and services that both benefit
the world, and make money. Social entrepreneurship relates to nonprofit, for-profit, or hybrid companies
that are committed to social or environmental change. Some examples include educational programs,
microfinance institutions, and companies that provide banking services in undeveloped countries.

Toms shoes was a pioneer of social entrepreneurship, starting in 2006 offering a one-for-one sales model
that gave a pair of shoes to a child in need for every pair of shoes sold. What separates social
entrepreneurship from other types is the measure of success, in that the goal is not focused solely on
financial gain but also on the social impact.

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