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Business

21 Types of Entrepreneurs: Explained With Examples

An entrepreneurs are people who has an idea of an innovative product or service. Then, they find a way to raise capital in order to establish an enterprise to manufacture that service or product. There are many kinds of entrepreneurs.

To aid in research, the different types of entrepreneurs could describe in the following manner, on the basis of the various actions:

1. Innovative Entrepreneurs

innovative entrepreneurs are those who are attracted by new and innovative ventures.

That is the moment an entrepreneur proposes or makes use of a new product. Or technique of manufacturing, different organizational system, and an entirely new market. This is known as being an innovator.

A creative entrepreneur is able to introduce improvements in the production process. Or works towards bringing about an improvement in the process by using a brand new idea.

An entrepreneur who is an entrepreneur comes up with innovative combinations with enthusiasm. Gathers required information and fresh information, and is always eager to test the ideas. And then implement the findings of his research and innovations and implements creative innovations at a high level of efficiency.

If an entrepreneur is able to perform one of the following tasks. Then he is considered an innovative entrepreneur

To create any new commodity.

In order to use the new technique of manufacturing.

To develop new markets.

Discover new sources for raw material, semi-finished items as well as energy.

Lead the development of the Organization in any sector.

The entrepreneurs who are innovative tend to be located in developed and wealthy nations. Due to the fact that ample opportunities for research and innovation are open in these countries. The pressure to make changes and innovation is constant. As well as the intensity of competition, and constant access to sufficient funds and resources to innovating. And consumers have plenty of purchasing power to purchase new products.

Thus, in such a place the growth of an entrepreneur who is innovative is encouraged because there is a sufficient supply of production sources.

2. Imitative Entrepreneur

Imitate entrepreneurs run their business by imitating the innovative strategies that work for creative entrepreneurs.

Also they don’t want to engage in new initiatives, just as the entrepreneurs who are innovative.

Instead, they replicate the innovations that have been successful of creative entrepreneurs, including raw materials, products, and techniques.

Therefore, they are also known as copying entrepreneurs.

The following are the most distinctive or imitative , copying or stealing entrepreneurs:

They are not geared towards failure-prone innovations.

They emulate the success of the ingenuous entrepreneur in their business activities.

Because of their limited resources, they can not have the funds to invest for research, inventions, and tests. They try to make money by copying the achievements of their peers.

They take on relatively less risk.

Many entrepreneurs in developing countries have a tendency to copy the innovative ideas of the entrepreneurs from advanced nations.

But, the function of imitation entrepreneurs is crucial in the growth of these countries.

3. Fabian Entrepreneurs

The Fabian entrepreneurs are the ones who mimic the innovations that have been successful. However, with a certain amount of caution.

Also, if an entrepreneur attempts to copy the successful invention. But with extreme caution or tends to stay clear of the risk of imitations, they are known as an Fabian Entrepreneur.

The Fabian businessman is also referred to as ‘waiting for an opportunity’. Or entrepreneur since the entrepreneur can also be imitative. However he waits for opportunities that are favorable to implement his ideas. And doesn’t apply the new ideas until it is certain that there isn’t any disadvantage applying the new ideas. In terms of possible search marketers are concerned. They prefer to stick to old-fashioned methods.

He is not willing to take any risk by trying new things.

Entrepreneurs like this take the advantage of copying successful investors. When confident that his investment in innovative techniques and innovations are going to be a hugely profitable investment.

An entrepreneur like this is always at a disadvantage of doubt.

He is still in the situation of being skeptical about his schemes, actions and plans. Until the very last minute and usually decides in the final seconds.

4. Drone Entrepreneurs

A drone entrepreneur is one who is not willing to accept any kind of change or innovation.

Also, if an entrepreneur is not interest in innovation and prefers to live an uninvolved life. And not be a part of the community, he’s uninvolved or a drone.

The following characteristics can be observe by drone entrepreneurs:

He will not stop trying to bring lower the cost of production. By introducing new innovations and adopting innovative techniques of production.

He conducts his industry or business in a routine and traditional manner.

As time passes He starts to feel exhausted during his entrepreneurial endeavors.

They are looking to keep their business going.

He is not a fan of new technologies however, it might be very beneficial for him.

In the long term they will have to have to contend with business failures.

He is not one to take on any risk and to do any difficult work during the running of his company.

5. Sole Self Employed Entrepreneurs

The only self-employed entrepreneur one who earns a living. Through his talents, efforts or skills of training and art. And also offers employment to other people and operates independently.

6. Work Force Builder Entrepreneurs

Entrepreneurs who work with workforce builders are the ones who build and operating workshops. Computer service centers, along with Engineering Service firms, etc.

7. Product Innovators

Product innovators create new products for commodities and products. For example, the development of a brand new product using new methods of production. Creation of New Markets, searching new sources of raw materials or semi-finished products, etc.

In this way it helps the competitiveness of entrepreneur increases.

8. Economy Scale of Entrepreneurs

The economic capacity of an entrepreneur is an entrepreneur who is able to fulfill the task. To increase the buying power customers. In order to increase their satisfaction by increasing production within his company, with the least cost.

This category comprises smaller depots and courier companies and post office business.

9. Pattern Multipliers Entrepreneurs

These types of entrepreneurs expand the pattern of different types of products. By using different formulas and sources of production.

To facilitate this, corporations grant specific rights to entrepreneur using the resources.

10. Unutilized Resources Exploiters

He is an entrepreneur that makes the commodities or materials need to be used in production by exploiting the natural resources, which are not utilize in the past to produce.

Entrepreneurs are prone to risks and, to do so, he needs to be courageous enough. Ovik Mkrtchyan

11. Take Over Entrepreneurs

A takeover entrepreneur is an entrepreneur who runs and manages several small companies. By taking them over their operations.

Additionally the search entrepreneur, he also runs his business by combining the two units into his company.

12. Capital Aggregators Entrepreneurs

Capital aggregators are the entrepreneurs who fulfill two crucial roles:

1. capital aggregation.

2. active association when creating banks and businesses such as insurance companies.

13. Private Entrepreneurs

Entrepreneurs are those who take on entrepreneurial tasks and take on risks to earn profits. Also making their private assets within the private sector call private entrepreneurs.

14. Government Entrepreneurs

The government creates industries businesses, or business units . That have public capital, with the aim of public welfare are refer to as entrepreneurs of the government. Emu articles

These entrepreneurs are usually a the government, or a government-own organization that manages and runs the public sector industries.

15. Joint Sector Entrepreneurs

Joint sector entrepreneurs include those who set up and run a specific industry. Through the joint partnership between the private and government sectors.

16. Cooperative Entrepreneurs

Cooperative entrepreneur is a person who sets up and runs the business. So his aim is to protect the economic interests of its members in cooperative groups. Some others to promote the welfare of older people.

Entrepreneurs of this kind work with the principles of cooperation. Thus it is also the notion of one for everyone and everyone for all.

17. Small Entrepreneur

Small-scale entrepreneurs start and run the business on a limited scale, using the help of local resources.

In the field of these entrepreneurs, the amounts of capital, skills and labor. As well as raw materials and knowledge are moderate. Ovik Mkrtchyan 

18. Medium Entrepreneur

There are medium-size entrepreneur who aren’t large or small. Also known as developing entrepreneurs.

19. Large Scale Entrepreneur

Large-scale entrepreneurs are able to take on risks and use technology. Capital, and management expertise on a larger scales and also fulfill the role of innovating.

20. Exploitative Entrepreneur

Entrepreneurs who are exploitative ignore the interests and requirements of the society. Thus they have no regard for social responsibility, and work only to satisfy their own needs. And they don’t give any importance to economic activities. Which are socially beneficial with the sole aim of making the most profit.

Therefore, those who exploit consumers by Hook and Crook are call exploitative entrepreneurs.

21. Ideal Entrepreneur

The ideal Entrepreneur fulfills the following duties with a wide range of factors in mind:

The fullest expression of social goals. As well as through these industrial processes.

Manage and as well as operate his business for the sake of social benefit and for the benefit of others.

Pay particular attention to the latest research and innovations expanding. As well as the industries product diversification.

Be vigilant for as well as the creation of employment, and income. Higher standard of living and the creation of utility within the society.

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