CONCEPT OF ENTREPRENEUR

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CONCEPT OF ENTREPRENEUR
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• According to International Labour Organisation
  ( ILO ) entrepreneur are people who have the
  ability to see and evaluate business
  oppurtunities, together the necessary resources
  to take advantage of them, and to initiate
  appropriate action to ensure success.

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Characteristics of Entrepreneur

• Calculated Risks.
• Innovator.
• Organiser.
• Creator.
• Achievement motivated.
• Technically competent.
• Self Confidant.
• Socially Responsible.
• Optimistic.
• Equipped with Capability to Drive.

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• Blessed with Mental Ability.
• Human Relation Ability.
• Communication Ability.
• Decision Making.
• Business Planning.
• Venture Capitalist.
• Visionary.
• Entrepreneurs make significant differences.
• Ability to Spot and Exploit opportunities.
• Courage to face Adversities.
• Leadership.

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Types of Entrepreneurs

• (A) According to Type of Business
• Business Entrepreneur
• Conceive the Idea of New Product.
• Arrangement of Resources.
• Trading Entrepreneur.
• Involves in Trading Activities and not
  Manufacuring.
• Industrial Entrepreneur.
• Sets up an industrial Unit.
• Corporate Entrepreneur.
• Who Plans, Develops and Manages a Corporate
  Body.
• Agricultural Entrepreneur.
• Engaged in agricultural Activities.

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• (B) According to Motivation.
• Pure Entrepreneur.
• Tempted by the monetary rewards or Profits.
• Induced Entrepreneur.
• Attracted by the incentives, subsidies and
  facilities offered by the Government.

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• (C) According to the use of Technology.
• Technical Entrepreneur.
• Posses Craftsman skills which he uses to develop
  and to improve the technical aspect of the
  product.
• Non-Technical Entrepreneur.
• Spends time to develop alternative, strategies of
  marketing and distribution to promote his
  business.
• Professional Entrepreneur.
• He initiates sells the business and float new
  business.

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• (D) According to Stages of Development.
• First Generation Entrepreneur.
• No Entrepreneurial Background.
• Second Generation Entrepreneur.
• Inherited the family business.
• Classical Entrepreneur.
• Survival of the unit with or without an element
  of Growth.

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• (E) According to Danhof.
• Innovative Entrepreneur.
• Putting attractive possibilities into Practice.
• Imitative Entrepreneur.
• Initiate Techniques and Technologies.
• Fabian Entrepreneur.
• Imitate when realise that otherwise they will be
  at Loss.
• Drone Entrepreneur.
• Not ready to make changes into the existing
  Production methods.

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• (F) According to Capital Ownership.
• Private Entrepreneur.
• Individual / Group arranges Finance and Bears
  Risks.
• State Entrepreneur.
• Ventures undertaken by the State or Government.
• Joint Entrepreneur.
• Combination of Private entrepreneur and State
  entrepreneur who joins hands.

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• (G) According to Gender and Age.
• Man Entrepreneur.
• Woman Entrepreneur.
• Young Entrepreneur.
• Old Entrepreneur.
• Middle Aged Entrepreneur.
• (H) According to Area.
• Urban Entrepreneur.
• Rural Entrepreneur.

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• (I) According to Scale.
• Large Scale Industry.
• Medium Scale Industry.
• Small Scale Industry.
• Tiny Scale Industry.
• Functions of Entrepreneur.
• Innovation.
• Risk Taking.
• Decision Maker.
• Organisation and Management.