Question

Discuss the nature of functional entrepreneurs.

Answer 1

1. Innovating Entrepreneur: [Mrs. Kiran Mazumdar Shaw – BIOCON Ltd]

• An innovative Entrepreneur is one who is always focused on introducing a new project or introducing something new in the venture already started.
• Their innovation may take the form of Brand New products, upgraded products, Discovering an untapped market, New methods of production, New method of distribution of product, simplification of complex processes, es and so on.

2. Imitative Entrepreneur: [Mr. Kavin Bharti Mittal – Hike Messenger – Imitated Whatsapp]

• An imitative Entrepreneur is one who simply imitates existing – skill – knowledge or Technology already in place in advanced countries.
• He simply re-engineers or re-designs the products developed in advanced countries and produces a version suited to their – local conditions.

3. Fabian Entrepreneur: [Narasus Coffee – KONAR TAMIL GUIDE]

• These Entrepreneurs are said to be conservatives and not easily convinced about plasticizing any change in their organization.
• They do not simply change to the changes happening in the environment.
• But they adapt themselves to the changes only as a last resort when they fear that non-adaptability to changes will inevitably lead to loss or collapse of the enterprise.
• They are of a risk-averse type.
• They would like to follow [customs-Religion-Tradition] in the footsteps of predecessors.

4. Drone Entrepreneur: [Gopal Tooth Powder – Iruttu Kadai Halwa – Thirunelveli]

• Drone Entrepreneurs are those who are totally opposed to changes unfolding in the environment.
• They used to operate in the NICHE Market.
• The only difference between Fabian and Drone is Fabian – adapts to changes eventually as a last resort.
• Drone – never adapts himself to change.