Agentrep week2-11

• Entrepreneurship is a dynamic process of innovation and the establishment of new opportunity for the creation of new venture
• The small business owner entrepreneur is self-employed and is different from an innovator and entrepreneur
• The real entrepreneur is an individual with the greatest drive for expansion and growth and has propensity to make a difference in terms of their achievements in profit and exploitation of the resources for growth and business expansion
• Agripreneur


  An individual who starts, organises and manages a business venture focusing on the agricultural sector
• Value chain


  A set of connected actors that work together to add value to a product and increase efficiency and competitiveness, while linking producers to processors and markets
• Supplier


  A company or a business that supplies goods or services to another business, in this case a farming operation or an agripreneurship
• Entrepreneurship


  The capacity to take risks, develop, organize and manage a new business venture in order to make a profit
• Agripreneurship


  Entrepreneurship that relates to the marketing and production of various agricultural products, as well as agricultural inputs
• Agricultural inputs


  Products or resources that farmers use in farm production, e.g. seed, fertilisers and agrochemicals
• Entrepreneurs can change the way we live and work. If successful, their revolutions may improve our standard of living
• Entrepreneurship capital exerts a positive impact on a region's economic output
• Regions with a higher level of entrepreneurship capital show higher levels of output and productivity, while those lacking entrepreneurship capital have a tendency to generate lower levels of output and productivity
• Entrepreneurs can be classified on various basis such as stage of economic development, functions and characteristics
• Entrepreneurs with higher levels of entrepreneurship capital

  • Show higher levels of output and productivity
  • Those lacking entrepreneurship capital have a tendency to generate lower levels of output and productivity
• Types of entrepreneurs


  • Innovating
  • Imitative
  • Fabian
  • Drone
• Innovating entrepreneurs


  Characterized by aggressive assemblage of information and the analysis of results deriving from novel combination of factors of production<|>Generally aggressive in experimentation and exhibited shrewdness in putting attractive possibilities into practice<|>Have creative and innovative ideas of starting a new business<|>See the opportunity for introducing a new technique or a new product or a new market<|>May raise money to launch an enterprise, assemble the various factors, and choose top executives and the set the organization going
• Imitative entrepreneurs


  Copy or adopt suitable innovations made by the innovative entrepreneurs<|>Do not innovate the changes themselves, they only imitate technology innovated by others
• Fabian entrepreneurs


  Shy and lazy by nature<|>Neither have the will to introduce new changes nor the desire to adopt new methods of production innovated by the most entrepreneurs<|>Follow the set procedures, customs, traditions and religions<|>Not much interested in taking risk and try to follow the footsteps of their predecessors
• Drone entrepreneurs


  Refuse to copy or use opportunities that come on their way<|>Conventional in their approach and stick to their set practices products, production methods and ideas<|>Struggle to survive not to grow<|>May be termed as Laggards<|>In such cases the organization loses market, their operations become uneconomical and they may be pushed out of the market
• Types of entrepreneurs based on type of business

  • Business entrepreneurs
  • Trading entrepreneurs
  • Industrial entrepreneurs
  • Corporate entrepreneurs
  • Agricultural entrepreneurs
• Business entrepreneurs


  Conceive an idea for a new product or service and then create a business to materialize their idea into reality<|>Tap the entire factor of production to develop a new business opportunity<|>May set up a big enterprise or a small scale business
• Trading entrepreneurs


  Undertake trading activities and are not concerned with the manufacturing work<|>Identify potentiality of their product in markets, stimulate demand for their product line among buyers<|>May go for both domestic and overseas trade
• Industrial entrepreneurs


  Essentially a manufacturer who identifies the needs of customers and creates products or services to serve them<|>Product-oriented who starts through an industrial unit to create a product like electronic industry, textile unit, machine tools
• Corporate entrepreneurs


  Use their innovative skill in organizing and managing a corporate undertaking<|>A corporate undertaking is a form of business organization which is registered under some statute or Act<|>Plan, develop and manage a corporate body
• Agricultural entrepreneurs


  Undertake agricultural activities through mechanization, irrigation and application of technologies to produce the crop<|>Cover a broad spectrum of the agricultural sector and include agriculture and allied occupations
• Types of entrepreneurs based on use of technology

  • Technical entrepreneurs
  • Non-technical entrepreneurs
  • Professional entrepreneurs
• Technical entrepreneurs


  Technically qualified persons who have entered the field of business to commercially exploit their inventions and discoveries<|>Their main asset is technical expertise<|>Raise the necessary capital and employ experts in financial, legal- marketing and other areas of business<|>Their success depends upon how they start production and on the acceptance of their products in the market
• Non-technical entrepreneurs


  Not concerned with the technical aspects of the product or service in which they deal<|>Concerned only with developing alternative marketing and promotional strategies for their product or service
• Professional entrepreneurs


  Interested in establishing a business but do not have interest in managing it after establishment<|>Sell out the existing business on good returns and start another business with a new idea<|>Dynamic and conceive new ideas to develop alternative projects
• Types of entrepreneurs based on motivation

  • Pure entrepreneurs
  • Induced entrepreneurs
  • Motivated entrepreneurs
• Pure entrepreneurs


  Motivated by psychological, economical, ethical considerations<|>Undertake an entrepreneurial activity for their personal satisfaction in work, ego or status
• Induced entrepreneurs


  Induced to take up an entrepreneurial task due to the policy reforms of the government that provides assistance, incentives, concessions and other facilities to start a venture<|>Most of the small scale entrepreneurs belong to this category and enter business due to financial, technical and several other facilities provided to them by the various agency of Govt. to promote entrepreneurship
• Motivated entrepreneurs


  Motivated by the desire for self-fulfillment<|>Come into being because of the possibility of making and marketing some new products for the use of consumers<|>Motivated through reward like profit
• Types of entrepreneurs based on growth

  • Growth entrepreneurs
  • Super-growth entrepreneurs
• Growth entrepreneurs


  Take up a high growth industry and choose an industry which has sustained growth prospects<|>Have both the desire and ability to grow as fast as large as possible
• Super-growth entrepreneurs


  Have shown enormous growth of performance in their venture<|>Growth performance is identified by the high turnover of sales, liquidity of funds, and profitability
• Types of entrepreneurs based on entrepreneurial activity

  • Novice entrepreneurs
  • Serial entrepreneurs
  • Portfolio entrepreneurs
• Novice entrepreneurs


  Someone who has started their first entrepreneurial venture<|>Have no prior business ownership experience as a business founder, inheritor of a business, or a purchaser of a business
• Serial entrepreneurs


  Devoted to one venture at a time but ultimately start many<|>The process of starting that excites the starter<|>Once the business is established, may lose interest and think of selling and moving on
• Portfolio entrepreneurs


  Retain an original business and build a portfolio of additional businesses through inheriting, establishing, or purchasing them<|>Start and run a number of businesses<|>May be a strategy of spreading risk or it may be that the entrepreneur is simultaneously excited by a variety of opportunities