lecture 3
Lecture 3
CLASSIFICATION OF ENTREPRENEURS
I. According to the Type of Business
Entrepreneurs are found in various types of business coronations of varying size. We may broadly classify them as follows:
Business Entrepreneur:
Business entrepreneurs are individuals who conceive an idea for a new product or service and-then creates a business to materialize their idea into reality. They tap both production and marketing’ resources in their search to develop a new business opportunity. They may set up a
.big establishment or a small business unit. They are called small business entrepreneurs when found in
small business units such as printing press, textile processing house, advertising
agency; readymade garments, or confectionery. In a majority of cases, entrepreneurs are found in small trading and manufacturing business and entrepreneurship flourishes when the size of the business is small.
Trading Entrepreneur:
Trading entrepreneur is one who undertakes trading activities and is not concerned with the manufacturing work. He identifies potential markets, stimulates demand for his product line and creates a desire and interest among buyers to go in for his product. He is engaged in both domestic and overseas trade. Britain, due to geographical limitations, has developed trade through trading entrepreneurs. These entrepreneurs demonstrate their ability in pushing many ideas ahead to promote their business.
Industrial Entrepreneur:
Industrial entrepreneur is essentially a manufacturer, who identifies the potential needs of customers and tailors a product or service to meet the marketing needs. He is a productoriented man who starts in an industrial unit because of the possibility of making some new product. The entrepreneur has the ability to convert economic resources and technology into a considerably profitable venture. He is found in industrial units as the electronic industry, textile units, machine tools or videocassette tape factory
CLASSIFICATION OF ENTREPRENEURS
I. According to the Type of Business
Entrepreneurs are found in various types of business coronations of varying size. We may broadly classify them as follows:
Business Entrepreneur:
Business entrepreneurs are individuals who conceive an idea for a new product or service and-then creates a business to materialize their idea into reality. They tap both production and marketing’ resources in their search to develop a new business opportunity. They may set up a
.big establishment or a small business unit. They are called small business entrepreneurs when found in
small business units such as printing press, textile processing house, advertising
agency; readymade garments, or confectionery. In a majority of cases, entrepreneurs are found in small trading and manufacturing business and entrepreneurship flourishes when the size of the business is small.
Trading Entrepreneur:
Trading entrepreneur is one who undertakes trading activities and is not concerned with the manufacturing work. He identifies potential markets, stimulates demand for his product line and creates a desire and interest among buyers to go in for his product. He is engaged in both domestic and overseas trade. Britain, due to geographical limitations, has developed trade through trading entrepreneurs. These entrepreneurs demonstrate their ability in pushing many ideas ahead to promote their business.
Industrial Entrepreneur:
Industrial entrepreneur is essentially a manufacturer, who identifies the potential needs of customers and tailors a product or service to meet the marketing needs. He is a productoriented man who starts in an industrial unit because of the possibility of making some new product. The entrepreneur has the ability to convert economic resources and technology into a considerably profitable venture. He is found in industrial units as the electronic industry, textile units, machine tools or videocassette tape factory