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Questions and Answers
Which type of entrepreneur brings in fundamentally new products or services and creates new business segments around them?
Which type of entrepreneur brings in fundamentally new products or services and creates new business segments around them?
- Opportunity Entrepreneurs
- Replicative Entrepreneurs
- Necessity Entrepreneurs
- Innovative Entrepreneurs (correct)
What is an example of a fundamentally new product or service that created a new industry?
What is an example of a fundamentally new product or service that created a new industry?
- Search engine (correct)
- Documentation management system
- Electronic commerce
Which company pioneered electronic commerce?
Which company pioneered electronic commerce?
- Hotmail
- Amazon (correct)
- Adobe
Which type of entrepreneur is driven by the need to start a business due to lack of other options?
Which type of entrepreneur is driven by the need to start a business due to lack of other options?
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What type of entrepreneur brings in products or services that are already successful in other markets?
What type of entrepreneur brings in products or services that are already successful in other markets?
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Study Notes
Types of Entrepreneurs
- Innovative Entrepreneurs: Introduce fundamentally new products or services, creating entirely new business segments.
- Example: The smartphone, which revolutionized communication and led to the establishment of various new markets, such as app development and digital services.
Pioneers in E-commerce
- Amazon: Recognized as the company that pioneered electronic commerce, transforming online shopping and retail logistics.
Necessity-driven Entrepreneurs
- Necessity Entrepreneurs: Begin their businesses out of necessity, often due to a lack of employment options or economic circumstances. Their ventures are typically driven by the need for income.
Imitative Entrepreneurs
- Imitative Entrepreneurs: Focus on bringing products or services that have proven successful in other markets to new geographical areas or demographics, adapting them to local tastes.
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