Entrepreneurship &

Skill Development

Dr. Fahad Khan

Types of Entrepreneurship
Entrepreneurs are people who
establish a venture around
innovation to change the world.
Entrepreneurs are innovators
capable of taking risks and possess
specific skill sets like
communication, leadership,
business management and
technical skills.
Types of
Entrepreneurship
 Entrepreneurship is establishing,
developing, organising and
managing a business venture
while bearing the risks to generate
profits. As there are different
businesses, there are also many
types of entrepreneurship.
Types of Entrepreneurship
 1. Small business entrepreneurship
 Small businesses represent an overwhelming majority of Indian
entrepreneurial ventures. People who establish small business
entrepreneurship make profits to support their families and live a
modest lifestyle.
 As small businesses are small and lack the innovative factor, they
fail to attract venture capital for smooth running. These people
usually fund their ventures themselves or take up loans from
friends and family members. The employees are usually local
people or family members.
 Example: Local hairdressers, grocery shops, milk booths,
plumbers, carpenters and small boutiques are part of the small
business entrepreneurship.
Types of Entrepreneurship
 2. Large company entrepreneurship
 Large company entrepreneurship refers to companies like Disney,
Google, Toyota, and Microsoft who have finite life cycles, as in, they
keep innovating and offering consumers new products that are
variants around their core product-line.
 A distinguishing feature of this type of entrepreneurship is that it is
not starting a new business, rather creating new products or
subsidiaries within an existing company, or acquiring smaller
businesses (like when Facebook bought Instagram and WhatsApp).
More specifically, these divisions are focused on reaching new
markets, expanding the customer base and growing the business.
 Another component of large company entrepreneurship is a
commitment to building company culture, ensuring that as a company
expands all employees are a part of the growth.
Types of Entrepreneurship
 3. Scalable startup entrepreneurship
 This type of entrepreneurship starts with a unique idea
that can bring a change. From creating a business plan
to launching it, scalable startup entrepreneurship
recognises what is missing in the market and creates a
solution. Such business usually receives funding from
venture capitalists who provide funding based on the
uniqueness of the idea. They hire specialised
employees because they seek rapid expansion and high
returns.
 Eg. Google, Facebook, Uber etc.
Types of Entrepreneurship
 4. International entrepreneurship
 In international entrepreneurship, entrepreneurs conduct
business activities across the Indian national boundaries.
This could either be opening a sales office in another
country or exporting goods from India to a foreign country.
 International entrepreneurship is beneficial when the
demand for goods and services is declining in the domestic
market and the demand arises from the international
market. Usually, international entrepreneurs sell products
in the Indian market until they reach the maturity stage
and then sell them in the foreign market to earn profits.
Types of Entrepreneurship
 5. Social entrepreneurship
 Social entrepreneurship is a type of entrepreneurship in which entrepreneurs
recognise a social problem and tailor their activities to create social value.
Such entrepreneurs develop services, solutions or products to solve critical
social issues and bring about social change. This social change could be
related to environment conservation, animal rights protection or philanthropic
activities for the underserved community. The motivating factor of social
entrepreneurship is achieving social benefits. Working in a social enterprise
means prioritising transformative social change while ensuring financial
sustainability.
 These organisations use ethical practices such as corporate social
responsibility to facilitate success. Instead of making profits and earning
wealth for the owners, social entrepreneurship aims to make the world a
better place to live.
 Non-profit organisations are the best social enterprise examples.
Types of Entrepreneurship
 6. Environmental entrepreneurship
 It is also known as ecopreneurship and green entrepreneurship.
Profit generation and a concern for the environment drive the
primary goal of such businesses. An ecopreneur adopts highly
environmentally responsible business values and practices.
They also try to replace the existing product or services with
products that are environmentally safe to use. In short,
environmental entrepreneurship prioritises the business
impact on people and the environment besides profits.
 Impact blogging and publishing an audiobook examples of
environmental entrepreneurship as they protect the
environment by not cutting trees.
Types of Entrepreneurship
 7. Technopreneurship
 Technopreneurship is what you get on uniting technology with
entrepreneurship. It is also known as technology entrepreneurship. A
technopreneur merges entrepreneurial talent and skills with the
technical prowess to develop a business that thrives on the intensive
use of technology.
 Technopreneurs undertake calculated risks that have chances of
earning profits. In short, these are entrepreneurs who have the ability
to revolutionise the prevailing economic conditions and introduce
breakthrough products for the customers. The foundation of the
products and services of such a business is technology. Such a
business prefers to employ creative and technology-savvy people who
are passionate about bringing technological change.
Types of Entrepreneurship
 8. Hustler entrepreneurship
 A hustler entrepreneur is a self-starter motivated by
their goals and aspirations to succeed in
entrepreneurship. Such people start small and work
hard to grow their business. Instead of using money or
capital to achieve their business goals, they put in their
best efforts. They never wait for opportunities to come
because they create opportunities. Hustlers do not have
a give-up attitude, have a big risk-taking appetite and
are always ready to face challenges.
Types of Entrepreneurship
 9. Innovative entrepreneurship
 The foundation of innovative entrepreneurship is
inventions and new ideas. These entrepreneurs can think
about novel ways of doing business and have the
potential to turn a new idea into a successful venture.
They are business leaders and contribute significantly to
the economy. Moreover, such companies strive to make
life better by providing products, solutions and services
which other companies have not. Innovative
entrepreneurship is ambitious and requires significant
investment to turn a new idea into a breakthrough service
or product.
Types of Entrepreneurship
 10. Imitative entrepreneurship
 This entrepreneurship mimics or imitates existing business ideas
and works hard to improve them. Such companies imitate
already functioning products and services in the market, usually
under a franchise agreement. Such entrepreneurs have no
interest in innovation, though they are ready to work on and
improve the existing processes. Imitative entrepreneurship
works by adopting current technologies worldwide and
modifying their existing technologies to suit the local conditions.
 Fast food companies and multinational conglomerate
companies are the best examples of enterprises running on
imitative entrepreneurship.
Thank you