Types Of Entrepreneurs

Innovative Entrepreneurs

• Focus is on innovative activities
• Capacities include thinking beyond conventional constraints
• Goal is introduction of original ideas to the market
• Driven by a passion to improve goods and services
• Example: Tesla revolutionized the electric vehicle market

Imitative Entrepreneurs

• They run enterprises that copy successful innovations
• They do not focus on innovative activities
• Instead, they replicate successful innovations like products, raw materials, and techniques
• Example: Sam Walton's Walmart improved the discount store model

Fabian Entrepreneurs

• They are cautious in adopting changes
• They prefer traditional methods until change is unavoidable
• They wait for favorable opportunities and proof of no disadvantage before implementing innovations
• Example: John Gokongwei, Jr. (JG Summit Holdings) built a business empire slowly and carefully

Drone Entrepreneurs

• Defined as "an individual who depends on the efforts of all others"
• They reject chances to replicate or take advantage of opportunities
• They reject both innovation and change
• Drone entrepreneurs stick to outdated methods, even if it leads to losing customers
• Example: Kodak was slow to transition from film to digital photography

Sole Self-Employed Entrepreneurs

• They are self-employed through their own efforts, abilities, skills, knowledge, training and art
• They also provide employment to others
• They work independently
• Example: Doctors, engineers, and architects

Workforce Builder Entrepreneurs

• Independently build operate workshops
• Examples include, computer service centers and engineering service firms

Product Innovators

• Focus on new works for products and commodities
• Seek production of new commodities
• They aim to develop the markets
• They seek new sources of raw material or semi-finished products

Economy of Scale Entrepreneurs

• Increasing the purchasing power of consumers to enhance their satisfaction via maximized production at minimum costs
• Example: J & T Express expands delivery network

Pattern Multipliers Entrepreneurs

• They increase the patterns of various types of products using various formulas and sources of production
• Companies provide special rights using various formulas and sources of production

Unutilized Resource Exploiters

• They avail of materials or commodities for production by exploiting unused natural resources
• Example: Alvin D. Lao (D&L Industries) innovates by extracting and refining natural oils from coconuts

Take Over Entrepreneurs

• Manage and operate various small firms by taking them over
• Search entrepreneurs operate business by completely merging these units with their business
• Example: Ramon Ang (San Miguel Corp.) acquired a majority stake in Eagle Cement Corporation for $1.87 billion

Capital Aggregators Entrepreneurs

• Involved in capital aggregations
• Association in setting up banks and insurance companies
• Example: Henry Sy (Founder of BDO) gathered capital and investments to expand BDO Unibank

Private Entrepreneurs

• Undertake entrepreneurial activities
• They take risks with the objective of earning profits
• They make private assets in the private sector
• Example: Edgar Sia (Mang Inasal) grew Mang Inasal

Government Entrepreneurs

• Government establishes industries and business units with public capital for public welfare
• Includes government organizations that operate and manage industries in the public sector
• Example: The Department of Agriculture (National Food Authority) operates NFA

Joint Sector Entrepreneurs

• They are business enterprises owned and operated through partnerships between the government and the private sector
• Ventures combine public sector support with private sector efficiency to achieve economic growth
• Example: Manila Water Company, Inc. is a joint venture with Ayala Corporation

Cooperative Entrepreneurs

• Includes establishing and managing cooperatives
• They are businesses owned and operated by their members for mutual benefit
• They prioritize shared ownership, democratic decision-making, and fair distribution of benefits
• Example: Dr. Edgardo Miciano (Tagum Cooperative, Philippines) provides banking and investment services

Small Entrepreneurs

• They establish and operate businesses on a small scale
• Utilize local sources
• Capital, techniques, labor, raw material and skills levels are moderate
• Example: Sari-Sari Store Owners

Medium Entrepreneurs

• Manage enterprises larger than small businesses but not large corporations
• Businesses typically have moderate capital investment
• They possess larger workforce and expanded market reach
• Example: Goldilocks Bakeshop started as a small bakery

Large Scale Entrepreneurs

• Manage large enterprises with significant capital investment, a large workforce, and extensive market reach
• Operate at a national or international level
• They often compete with multinational corporations
• Example: Henry Sy (SM Group) built a retail and real estate empire

Exploitative Entrepreneurs

• Neglect societal interests and needs
• They are indifferent toward social responsibilities
• They work for their own interests
• Objective to earn maximum profits
• Examples: overpricing during disasters and illegal logging

Ideal Entrepreneurs

• They balance profit with ethical responsibility, innovation, and positive social impact
• Create sustainable, fair, and beneficial businesses
• Their success contributes to economic growth, environmental protection, and community development
• Example: Tony Tan Caktiong (Jollibee Foods Corporation) expanded Jollibee while supporting local farmers