The word entrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business.
Entrepreneur is a person who habitually creates and innovates to build something of recognized value around perceived opportunities.
The concept of entrepreneurship has a wide range of meanings. On the one extreme an entrepreneur is a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population.
Types of an Entrepreneur:
Ø Innovating Entrepreneur:
He is the one who introduces something new into the economy or employs a new technique of production.
Ø Adoptive or Imitative Entrepreneurs:
They adopt best practices. Imitative entrepreneurs are revolutionary and important.
Ø Fabian Entrepreneurs:
They are lazy and shy and lack the will to adopt new methods. They follow the old traditions and avoid risk taking.
Ø Drone Entrepreneurs:
Against any change in production method even at the cost of losses
Ø Forced Entrepreneurs:
They become entrepreneurs on account of circumstances.
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