CLASSIFICATION, TYPES AND

QUALITIES OF ENTREPRENEURS

CLASSIFICATION OF ENTREPRENEUR

ON THE BASIS OF TYPE OF BUSINESS

1. Business entrepreneurs:-who start business units after developing

ideas for new products/services.

2. Trading entrepreneurs :-who undertake buying & selling of goods,

but not engage in manufacturing.

3. Corporate entrepreneurs:-who establish and manage corporate form

of organization which have separate legal existence.

4. Agricultural entrepreneurs:- who undertake activities like raising

and marketing of crops, fertilizers and other allied activities.

ON THE BASIS OF STAGES OF DEVELOPMENT

1. First generation entrepreneurs:-who do not possess any

entrepreneurial background. They start by their own innovative skills.

2. Second generation entrepreneurs:-who inherit the family business

and pass to next generation.

3. Classical entrepreneurs:-who aims to maximize his economic returns

at a level consistent with the survival of the unit with or without an

element of growth.

ON THE BASIS OF MOTIVATION

1. Pure entrepreneurs:-who are basically motivated to

become entrepreneurs for their personal satisfaction, ego

etc.

2. Induced entrepreneurs:- who are induced to take up

entrepreneurial role by the assistance and policy of

government including incentives, subsidies etc.

ON THE BASIS OF TECHNOLOGY

1. Technical entrepreneurs:- who are task oriented and

craftsman type. They prefer doing to thinking.

2. Non-technical entrepreneurs:- who are not concerned

with technical side, but rather with marketing and

promotion.

3. Professional entrepreneurs:- who start a business unit,

but later sell the running business and start a new unit

later.

ON THE BASIS OF CAPITAL OWNERSHIP

1. Private entrepreneurs:- individual or group set up

enterprise, arrange finance, share risk etc.

2. State entrepreneurs:- means the trading or industrial

venture undertaken by the state or the government itself.

3. Joint entrepreneurs:- the combination of private and

government entrepreneurs.

OTHER CLASSIFICATIONS

ON THE BASIS OF GENDER AND AGE

1. Man entrepreneurs.

2. Women entrepreneurs.

3. Young entrepreneurs

4. Old entrepreneurs

5. Middle-aged entrepreneurs

ACCORDING TO AREA

1. Urban entrepreneurs

2. Rural entrepreneurs

ACCORDING TO SCALE

1. Large scale entrepreneurs

2. Medium scale entrepreneurs

3. Small scale entrepreneurs

4. Tiny scale entrepreneurs

OTHERS

1. Spiritual Entrepreneur

2. Social entrepreneurs

3. Edupreneurs

TYPES OF ENTREPRENEURS

Self-Employed

Team Builders

Inventors

Pattern Multipliers

Economy of Scale Operators

Acquirers

Speculators

Internal Entrepreneurs

QUALITIES OF AN ENTREPRENEURS

Non-Conformist

Risk-taken

Flexible

Hard-working

Goal-setter

Enthusiastic

Optimistic

Resourceful

Independent

Hard working

Strong leader

PASSION FOR WORK

Sense of optimism

Sense of purpose

Sense of challenge

Sense of ownership whatever you do

Entrepreneurial success is a highly collaborative

process

KEY INGREDIENTS FOR

ENTREPRENEURSHIP

Personal characteristics

Technical know-how

Marketable Idea

Contacts for Assistance

Financial Resources

Potential customers

Supportive Life-style

Personal Motivation

Leadership Experience

CREATIVITY

A new way of thinking about everything

Openness to change

Willing to try new things

Persistence in seeking possibilities

Open to brainstorming ideas

Dedication to doing it better

Thinking about what you see and hear

CONCLUSION

It is often said that economy is the effect for which entrepreneurship is the cause". The development of economy is

usually associated with its industrial development. An

entrepreneur is a person who organises the factors of

productions-land, labour and capital, and establish a business

venture and carries out the operations in the business in a

profitable manner.