Types of Entrepreneurship with Examples
Types of Entrepreneurship with Examples
To make an entrepreneur’s ventures to be successful, an entrepreneur needs to be innovative and creative. Since the economy and technology emerge over time, they must keep up with it to survive against their competitors and earn profit. Here are the 11 classifications of entrepreneurs.
Different Types of Entrepreneurs
Trading Entrepreneurship
Trading entrepreneurs are the middlemen of the procurement processes. They trade or sell finished products from the manufacturer to the customers.
Trading Entrepreneurship example:
Car dealers like Quincy Auto Mart Inc. and D.B. Wright Motors Inc. is a good example of trading entrepreneurship since they procure cars from the manufacturers and sell them as a dealer or a retailer.
Manufacturing Entrepreneurship
Manufacturing entrepreneurs create products. They are innovative and creative to create something new or to fill the gaps in the economic market. They use raw materials to create a finished product that is ready to sell on the market.
Manufacturing Entrepreneurship example:
Gardenia Bakeries Philippines is considered manufacturing entrepreneurship since they convert raw materials like bread flour and vegetable shortening into bread.
Technical Entrepreneurship
Technical Entrepreneurs use sciences and technology to production methods or products.
Technical Entrepreneurship example:
The business of Elon Musk entitled “Tesla Motors” is a concrete example of technical entrepreneurship since the company is famous for electric sports cars.
Non-Technical Entrepreneurship
Non-Technical Entrepreneurs are those whose forte is not focused on science and technology but more on discovering techniques and alternative methods, and other marketing activities to make their business successful and profitable.
Non-Technical Entrepreneurship examples:
The forte of A non-technical entrepreneur named Mandy El-Sayegh is about creating a business that sells artistic paintings. She doesn’t science and technology to manufacture her paintings.
State Entrepreneurship
State Entrepreneurs are people who trade industrial aspects related to the government.
State Entrepreneurship example:
A state-based business like Investpunjab in India is an example of state entrepreneurship that is undertaken by the government.
Joint Entrepreneurship
Joint Entrepreneurs are formed by joining private matters or ownerships with governmental activities.
Joint Entrepreneurship example:
Smart Phone development by Nokia and Microsoft is considered joint entrepreneurship since it is a partnership between the government and the private entrepreneurs.
Innovating Entrepreneurship
Innovating Entrepreneurs are the inventors who create new products or services for the market.
Innovating Entrepreneurship example:
Author Jump by Mr. Jay Magpantay is an example of innovative entrepreneurship because he only took his business to the next level when a certain development is already achieved.
Imitative Entrepreneurship
Imitative Entrepreneurs imitate techniques and products that already exist in the market.
Imitative Entrepreneurship example:
Walton BD is considered an imitative Entrepreneur since he produced many products like refrigerators, motorbikes, and other electronic products without being the real creator of those products.
Fabian Entrepreneurship
Fabian Entrepreneurs are wise because they test the business first if it can survive the economy before they hold the business to unleash its potential.
Fabian Entrepreneurship example:
An example of a Fabian entrepreneur is Tom Anderson who is a second-generation entrepreneur and does not want to take the risk. He prefers a stable business. Another example is Kongo Gumi, a 40th generation Fabian Entrepreneur in Osaka, Japan.
Drone Entrepreneurship
Drone Entrepreneurs are into the vintage kind of marketing because they don’t like to change something significant to their business. Most of them only offer the same products or services from the day they started the company up to the present time.
Drone Entrepreneurship example:
Borancchini’s Bakery is an example of drone entrepreneurship since it cannot adapt to changes and like to follow old-fashioned business practices.
