Types and Functions of an Entrepreneur.ppt

8/19/2019 Types and Functions of an Entrepreneur.ppt

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Types and Functions of

an Entrepreneur

By- Anurag Chawla

029130113

BBA !1


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Concept of Entrepreneurship

The word "entrepreneur# is deri$ed fro% the

French $er& enterprendre' which %eans (to

underta)e*+

Entrepreneur is a person always in search of

so%ething new and eploits such ideas intogainful opportunities &y accepting the ris) and

uncertainty with the enterprise+


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Types of Entrepreneur

1. Innovative entrepreneurs:

These entrepreneurs ha$e the a&ility to thin) newer' &etter and %ore

econo%ical ideas of &usiness organisation and %anage%ent+ They are

the &usiness leaders and contri&utors to the econo%ic de$elop%ent of a

country+

2. Imitating Entrepreneur: These entrepreneurs are people who follow the path shown &y

inno$ati$e entrepreneurs+ They i%itate inno$ati$e entrepreneurs

&ecause the en$iron%ent in which they operate is such that it does not

per%it the% to ha$e creati$e and inno$ati$e ideas on their own+


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3. Fabian entrepreneurs:

The dictionary %eaning of the ter% (fa&ian* is (a person see)ing $ictory

&y delay rather than &y a decisi$e &attle*+ Fa&ian entrepreneurs are

those indi$iduals who do not show initiati$e in $isualising and

i%ple%enting new ideas and inno$ations wait for so%e de$elop%entwhich would %oti$ate the% to initiate unless there is an i%%inent

threat to their $ery eistence+

4. Drone entrepreneurs:

The dictionary %eaning of the ter% (drone* is (a person who li$es on

the la&or of others*+ .rone entrepreneurs are those indi$iduals who are

satisfied with the eisting %ode and speed of &usiness acti$ity and show

no inclination in gaining %ar)et leadership+ /n other words' drone

entrepreneurs are die-hard conser$ati$es and e$en ready to suffer the

loss of &usiness+


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5. Social Entrepreneur:

ocial entrepreneurs dri$e social inno$ation and

transfor%ation in $arious fields including education'

health' hu%an rights' wor)ers* rights' en$iron%ent and

enterprise de$elop%ent+


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Functions of an Entrepreneur

1. Innovation:

An entrepreneur is &asically an inno$ator who tries to de$elop

new technology' products' %ar)ets' etc+

2. Assumption o !is":

An entrepreneur' &y definition' is ris) ta)er and not ris)shir)er+ e is always prepared for assu%ing losses that %ay arise

on account of new ideas and proects underta)en &y hi%+


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3. !esearc#:

An entrepreneur is a practical drea%er and does a lot of

ground-wor) &efore ta)ing a leap in his $entures+ /n other

words' an entrepreneur finalies an idea only after

considering a $ariety of options' and then choosing the &estalternati$e+

4. Development o $anagement S"ills:

The wor) of an entrepreneur in$ol$es the use of

%anagerial s)ills which he de$elops while planning'

organiing' staffing' directing' controlling and coordinating

the acti$ities of &usiness+


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5. %vercoming !esistance to ange:

4ew inno$ations are generally opposed &y people

&ecause it %a)es the% change their eisting

&eha$ior patterns+ An entrepreneur always first tries

new ideas at his le$el+

'. &atal(st o Economic Development:

An entrepreneur plays an i%portant role in

accelerating the pace of econo%ic de$elop%ent of a

country &y disco$ering new uses of a$aila&leresources and %ai%iing their utiliation+

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Types and Functions of an Entrepreneur.ppt