Page 1 - Lesson Note 4

ENTREPRENEURSHIP

CLASS- XI

LESSON-4

CH-2: TOPIC – AN ENTREPRENEUR

SUB-TOPIC: - TYPES OF ENTREPRENEURS AND INTRAPRENEURSHIP

1. Types of Entrepreneurs:

(i) Classification of Entrepreneurs Based on Types of Business:
(a) Business Entrepreneurs: These types of entrepreneurs develop
ideas for new products or services and establish an enterprise to

convert the idea into reality.
(b) Trading Entrepreneurs: They undertake trading activities only.

(c) Industrial Entrepreneurs: They convert resources into finished
product. In other words they manufacture products and services.
(d) Agricultural Entrepreneurs: These types of entrepreneurs are

involved in marketing of crops, fertilizers and other agricultural
products.

(ii) Classification of Entrepreneurs Based on Motivation:
(a) Spontaneous Entrepreneurs: They undertake entrepreneurial
activities for their personal satisfaction. They work for their

ambition, status and ego.
(b) Induced Entrepreneurs: They become entrepreneurs because of

government support provided in terms of financial assistance,
incentives, concessions and other facilities.
(c) Motivated Entrepreneurs: These entrepreneurs have confidence on

their abilities. They are motivated to make and market the product
or services by using their technical abilities.

(iii) Other Categories of Entrepreneurs:
(a) First Generation Entrepreneurs: They start business by using their
own innovative skills and expertise.