Types of Business

Date : 1.April.2020

Sub  : Entrepreneurship

Day  : 4

Time : 7.30am -8.10am 

Period : 1 

Class    : 11

Learning Outcomes

Categories of types of entrepreneurs

• invite students to think and analyse what kind of entrepreneurs will they become
• Role of entrepreneurs in India.

A very good morning students

Thankyou for logging in

I hope those of us who joined our Google meet classes yesterday benefitted from it

Today we are going on to the 2nd topic of the second chapter

We will be learning the TYPES OF BUSINESS

Depending on the nature, size and type of business, entrepreneurs are dividedinto 5 categories

1.    Business Entrepreneurs

2.   Trading Entrepreneurs

3.   Industrial Entrepreneurs

4.   Corporate Entrepreneurs

5.   Agricultural Entrepreneurs

6.   Use of Technology:                                                                                                                      -(i) Technical Entrepreneur                                      (ii) Non - Technical Entrepreneur

7.   Professional Entrepreneurs

8.   Motivation                                                                                                                         (i) Spontaneous Entrepreneurs                                                                                                     (ii) Induced Entrepreneurs                                                                                                         (iii) Motivated Entrepreneurs

The notes for the above Entrepreneurs is given below

Business Entrepreneurs

                Business entrepreneurs are those who develop an idea for a new product or service and then establishes an enterprise to produce products according to their ideas. Most of the entrepreneurs belongs to this category .

Trading Entrepreneurs

                They undertakes trading activities whether domestic or foreign trade . They have to identify the potential market for his products in order to stimulate the demand of products. They use many techniques to promote trading.

Industrial Entrepreneurs

                They essentially manufacture products and offer services, which have an effective demand in the market. They have the ability to convert economic resources and technology into a profitable venture.

Corporate Entrepreneurs

                They are those who through their innovative ideas and skill able to organize , manage and control a corporate undertaking very effectively and efficiently. Usually, they are promoters of the undertaking / corporations , engaged in business, trade or industry.

Agricultural Entrepreneurs

                Those who undertakes agricultural as well as allied activities in the field of agriculture is known as agricultural Entrepreneurs. They engage in raising and marketing of crops, fertilisers and other inputs of agriculture through employment of modern techniques, machines and irrigation.

Technical Entrepreneurs

                The Entrepreneurs who are technical by nature in the sense of having the capability of developing new and improved quality of goods and services out of their own knowledge , skill and specialization are called technical Entrepreneurs. They concentrate more on production than marketing .

Non-Technical Entrepreneurs

                Non-Technical Entrepreneurs are those who mainly concerned with developing alternative marketing and distribution strategies to promote their business. They are not concerned with the technical aspect of the product and services they are dealing with .

Professional Entrepreneurs

                They make  their profession to establish business enterprise with a purpose , to sell them once they are established. He or she is always looking forward to develop alternative projects by selling the running business. He is not interested in managing operations of the business established by him. He or she is very dynamic.

  

Spontaneous Entrepreneurs

                They are otherwise known as pure Entrepreneurs , who are motivated by their desire for self – fulfilment and to achieve or prove their excellence in job performance . They undertake entrepreneurial activities for their personal satisfaction in work , ego, or status. Their strength lies in their creative abilities. They are the natural Entrepreneurs in any society.

Induced Entrepreneurs

                They enter into entrepreneurship because of various governmental supports provided in terms of financial assistance, incentives, concessions, and other facilities to the peoples who want to setup of their Enterprises. 

Motivated Entrepreneurs

                They are motivated by their desire to make use of their technical and professional expertise and skill in performing the job or project they have taken up. They have enough confidence in their abilities . they are highly ambitious and are normally not satisfied by the slow progress in their jobs.

Please go through the video link provided below

https://www.youtube.com/watch?v=k07xq2I3_VI


Your assignment
1.Please go through your e book
2.These entrepreneurs develop an idea for a product ____________
3. Undertake trading activities within or outside the country ___________
4. have the ability to converteconomic resources and technology into profitable venture ________
5. Undertake agricultural and allied activities__________
6. Write down the types of Motivation Entrepreneurs