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Classification of Entrepreneurs

By prof D.V. Shirbhate

Principal Vikarmshila PolytechnicDarapur

www.vikramshiladarapur.org

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Classification of Entrepreneurs

Based on Functional Characteristics.

Based on Developmental Angle.

Based on Types of Entrepreneurial Business.

Based on the nine Personality Types ofEntrepreneurs.

Based on Types of Motivation.

Based on Types of Area. Based on Types of Gender.

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Based on Functional Characteristics

Innovating Entrepreneur: One who introducesnew goods, inaugurates new methods ofproduction, discovers new market andreorganizes the enterprise.

Imitative Entrepreneur: One who is ready toadopt successful innovations inaugurated byinnovating entrepreneurs.

Fabian Entrepreneur: One who is very cautious

and skeptical about experimenting any change inthe enterprise.

Drone Entrepreneur: One who refuses to adoptopportunities to make changes in production

even at the cost of severely reduced returns.

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Based on Developmental Angle

Prime Mover: this entrepreneur sets in motion apowerful sequence of development, expansion, anddiversification of business.

Manager: Such an entrepreneur does not initiate

expansion and is content just staying in business. Minor innovator: this entrepreneur contributes to

economic progress by finding better use for existingresources.

Satellite: This entrepreneur assumes a suppliers roleand slowly moves towards a productive enterprise.

Local trading: Such an entrepreneur limits his

enterprise to the local market.

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Based on Types of Entrepreneurial

Business

Manufacturing: an entrepreneur who runs sucha business actually produces the products thatcan be sold using resources and supplies.

Wholesaling: An entrepreneur with such abusiness sells products to the middle man.

Retailing: An entrepreneur with such a businesssells products directly to the people who use or

consume them.

Service: An entrepreneur in this business sellsservices rather than products.

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Based on the nine Personality

Types of Entrepreneurs The Improver: if you operate your business

predominately in the improver mode, you are focused on

using your company as means to improve the world.

The Advisor: This business personality type will provide

an extremely high level of assistance and advice to

customers.

The Superstar: Here the business is centered on the

charisma and high energy of the superstar CEO. The Artist: This business personality is the reserved but a

highly creative type. As an artist type youll tend to build

your business around the unique talents and creativities

that you have.

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Based on the nine Personality

Types of Entrepreneurs

The Visionary: A business built by a visionary willoften be based on the future vision and thoughtsof the founder.

The Analyst: if you run a business as an Analyst,your company focus in on fixing problems in asystematic way. Often the basis for science,engineering or computer firms, analystcompanies excel at problem solving.

The Fireball: A business owned and operated bya fireball is full of life, energy and optimism.

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Based on the nine Personality

Types of Entrepreneurs

The Hero: You have an incredible will and

ability to lead the world and your business

through any challenge.

The Healer: If you are a healer, you provide

nurturing and harmony to your business. You

have an uncanny ability to survive and persist

with an inner calm.

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Based on Types of Motivation

Pure Entrepreneur: Individual who is motivated bypsychological and economic rewards. The basicobjective is to earn profit.

Induced Entrepreneur: One who is induced to takeup entrepreneurship due to government assistance,rewards, concessions etc.

Motivated Entrepreneur: Motivated by the desirefor self-fulfillment & self-actualization.

Spontaneous Entrepreneur: These entrepreneursstart business by their natural talent.

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Based on Types of Area

Urban Entrepreneur: One who has his industrialunit in urban area and has engaged workers

from that area.

Rural Entrepreneur: One who has its industrialset up in rural area and has engaged workers

from the same area.

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Based on Types of Gender

Male Entrepreneur.

Women Entrepreneur.

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Reference

Charantimath P.M., (2008), Entrepreneurship

Development & Small Business Enterprise, Third

Edition, Pearson Education, New Delhi.

&

Other Sources.