Classification of Entrepreneur

Classification of Entrepreneur – Innovating Entrepreneurs, Imitating Entrepreneurs, Fabian Entrepreneurs and Drone Entrepreneurs

The economic development of an economy depends upon the nature of entrepreneur. An entrepreneur should be innovative, skillful enough to help in the real development of an economy. When the question arises for the development of an economy the entrepreneur should be potent enough to help the development in a healthy way.

When the entrepreneur is shy and humble the environment is underdeveloped and it is developed only when he is strong, skillful and innovative. In a study of American Agriculture, Clarence Danhot has made classification of entrepreneurs according of limit.

The entrepreneur can be classified as:

1. Innovating Entrepreneurs

2. Imitating Entrepreneurs

3. Fabian Entrepreneurs, and

4. Drone Entrepreneurs.

Type # 1. Innovative Entrepreneurs:

Such entrepreneurs are aggressive in nature and they include innovation in their nature. Such entrepreneurs produce new product technologies etc. in a developed economy. Such entrepreneurs are capable of providing new and better technologies and products to an existing product and technology.

Type # 2. Imitating Entrepreneurs:

Such entrepreneurs are mere imitators. They include adoption of changes in technology and techniques. They do not but only imitate into the existing technologies of a developed economy. Such entrepreneur look forward the changes and the new innovations of a developed economy and adopt them in a developing economy. Such entrepreneurs not only adapt but also change and adjust themselves as per the changing situations.

Type #  3. Fabian Entrepreneurs:

This category of entrepreneurs include such groups of persons which neither accept the new trends, technologies and innovations nor leave the old customs, traditions and beliefs. They are neither imitators nor innovators, they are just the ones who proceed in with the situations they are in and use only traditional methods of production. Such entrepreneur are lazy and not interested in bearing risks.

Type #  4. Drone Entrepreneurs:

Such entrepreneurs exist in underdeveloped countries and refer to the category of persons who are neither interested in imitating the new technologies nor in the acceptance of already existing technologies in a developed economy. Such entrepreneurs bear losses as they keep on sticking to those technologies which are responsible for their losses.