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Top 10 Types of Entrepreneurs — Explained! Article shared by : Entrepreneurs are classified into different types based on different classifications as mentioned below: Based on the Type of Business: 1. Trading Entrepreneur: As the name itself suggests, the trading entrepreneur undertake the trading activities.
They procure the finished products from the manufacturers and sell these to the customers directly or through a retailer. These serve as the middlemen as wholesalers, dealers, and retailers between the manufacturers and customers.
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Manufacturing Entrepreneur: The manufacturing entrepreneurs manufacture products. In other words, the manufacturing entrepreneurs convert raw materials into finished products.
By Marshall Hargrave Updated Jul 20, America is known as a melting pot of nationalities and cultures, and it has quickly become one of the most innovative nations to date. With driven natural-born citizens and immigrants, America is one of the most successful countries in terms of entrepreneurship. From older companies such as Standard Oil, Ford Motor Company, and Carnegie Steel Company, to more contemporary companies such as Facebook and Google, American entrepreneurs have reshaped how the world operates. The following are the top five most successful American entrepreneurs in terms of world impact.
They cover a wide spectrum of agricultural activities like cultivation, marketing of agricultural produce, irrigation, mechanization, and technology. Based on the Use of Technology: 1. Expectedly, they use new and innovative methods of production in their enterprises.
Non-Technical Entrepreneur: Based on the use of technology, the entrepreneurs who are not technical entrepreneurs are non-technical entrepreneurs. The forte of their enterprises is not science and technology. They are concerned with the use of alternative and imitative methods of marketing and distribution strategies to make their business survive and thrive in the competitive market.
Based on Ownership: 1. Women Entrepreneurs: Women entrepreneurs are defined as the enterprises owned and controlled by a woman or women having a minimum financial interest of 51 per cent of the capital and giving at least 51 per cent of employment generated in the enterprises to women.
Based on the Size of Enterprise: 1. Small-Scale Entrepreneur: An entrepreneur who has made investment in plant and machinery up to Rs 1. Large-Scale entrepreneur: The entrepreneur who has made investment in plant and machinery more than Rs 5.
Last Updated September 9th Top 5 Richest Traders in the World You may already know that the foreign exchange market, also known as forex, is where currencies are being traded on a daily basis by people from all corners of the world. Considering the volume and size of the forex market, no wonder it keeps attracting and welcoming new traders who are interested in mastering it and earning extra profits.
Innovating Entrepreneurs: Innovating entrepreneurs are one who introduce new goods, inaugurate new method of production, discover new market and reorganise the enterprise. It is important to note that such entrepreneurs can work only when a certain level of development is already achieved, and people look forward to change and improvement.
Imitative Entrepreneurs: These are characterised by readiness to adopt successful innovations inaugurated by innovating entrepreneurs.
Imitative entrepreneurs do not innovate the changes themselves, they only imitate techniques and technology innovated by others. Such types of entrepreneurs are particularly suitable for the underdeveloped regions for bringing a mushroom drive of imitation of new combinations of factors of production already available in developed regions. Fabian Entrepreneurs: Fabian entrepreneurs are characterised by very great caution famous businessmen about trading skepticism in experimenting any change in their famous businessmen about trading.
They imitate only when it becomes perfectly clear that failure to do so would result in a loss of the relative position in the enterprise.
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Such entrepreneurs may even suffer from losses but they are daly trades binary options trading ready to make changes in their existing production methods. Following are some more types of entrepreneurs listed by some other behavioural scientists: 1.
Solo Operators: These are the entrepreneurs who essentially work alone and, if needed at all, employ a few employees. In the beginning, most of the entrepreneurs start their enterprises like them.
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It is important that all of them actively participate in the operations of the business. Inventors: Such entrepreneurs with their competence and inventiveness invent new products. Their basic interest lies in research and innovative activities. Challengers: These are the entrepreneurs who plunge into industry because of the challenges it presents.
When one challenge seems to be met, they begin to look for new challenges. Buyers: These are those entrepreneurs who do not like to bear much risk.
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Hence, in order to reduce risk involved in setting up a new enterprise, they like to buy the ongoing one. Life-Timers: These entrepreneurs take business as an integral part to their life.