Types of Entrepreneurs

Choose a study mode

Play Quiz

Study Flashcards

Spaced Repetition

Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What type of entrepreneur introduces new goods or methods of production?

Innovative entrepreneur (correct)
Imitative entrepreneur
Drone entrepreneur
Fabian entrepreneur

Which type of entrepreneur imitates techniques and technology innovated by others?

Innovative entrepreneur
Drone entrepreneur
Imitative entrepreneur (correct)
Fabian entrepreneur

What type of entrepreneur accepts change only when feeling threatened by potential losses?

Drone entrepreneur
Imitative entrepreneur
Innovative entrepreneur
Fabian entrepreneur (correct)

Which type of entrepreneur refuses to adopt changes made by competitors?

Drone entrepreneur (A) Signup and view all the answers

Which type of entrepreneur is characterized by aggressive assembly of information for trying new combinations of factors?

Innovative entrepreneur (D) Signup and view all the answers

Explain the characteristics of an innovative entrepreneur.

Innovative entrepreneurs introduce new goods or new methods of production, discover new markets, and aggressively assemble information for trying new combinations of factors. Signup and view all the answers

Describe the behavior of an imitative or adoptive entrepreneur.

Imitative or adoptive entrepreneurs imitate techniques and technology innovated by others, and are reactive in nature, ready to adopt to innovation happening around. Signup and view all the answers

What is a Fabian entrepreneur and how do they respond to change?

Fabian entrepreneurs accept change only when they feel threatened that failure to do so would result in losses. They are imitative by nature but not determinant and also lack in power. Signup and view all the answers

What are the characteristics of a drone entrepreneur?

Drone entrepreneurs refuse to accept to adopt to changes adopted by the competitors, and when competition increases, they are pushed out of the market as it becomes uneconomical for them to carry their business. Signup and view all the answers

Based on functional characteristics, how do entrepreneurs differ in their approach to innovation and change?

Entrepreneurs differ in their approach to innovation and change based on whether they are innovative, imitative or adoptive, Fabian, or drone entrepreneurs. Signup and view all the answers

Flashcards are hidden until you start studying