This document discusses different types of entrepreneurs: innovators see new opportunities and introduce new goods/methods; imitators are willing to adopt successful innovations; Fabians are cautious and skeptical of changes until an innovation proves successful; drones refuse changes and risk losing their market by continuing traditional methods. Entrepreneurship involves risk but can generate economic growth and innovation if introduced when a certain development level is reached and people embrace change.

2. ENTREPRENEUR
• An entrepreneur is an individual who creates a new business, bearing
most of the risks and enjoying most of the rewards. The entrepreneur
is commonly seen as an innovator, a source of new ideas, goods,
services and business/or procedures. Entrepreneurship is high-risk but
also can be high-reward as it serves to generate economic wealth,
growth, and innovation.

3. Innovator
Imitative
Fabian
Drone

4. INNOVATOR OR AGGRESSIVE
• Innovative entrepreneur sees the opportunity for introducing new goods,
introduces new methods of production, discovers new markets and
reorganizes the enterprise.
• It is important to note that such entrepreneurs can work only when a
certain level of development is already achieved and people look forward to
change and improvement.

5. IMITATIVE OR ADOPTIVE
• Adoptive entrepreneurs are characterizes by their willingness or are ready to
adopt successful innovations created by innovative entrepreneurs.
• An imitative entrepreneur helps to transform the system with the available
limited sources. These entrepreneurs face lesser risks and uncertainty that
innovative entrepreneurs.

6. FABIAN
• Fabian entrepreneurs are characterised by great caution and sceptical in
experimenting any change in their enterprises. They do not initiate any
innovations but follow after they are satisfied with its success rate.
• They wait for sometime before the innovation becomes well tested by
others and do not result in a huge loss due to its failure.

7. DRONE
• They are characterised by their refusal to utilize opportunities to make
changes in production. Such entrepreneurs may even suffer loss, but they
do not make changes in production methods.
• They are laggards because they continue their business in the traditional
way and their products lose the marketability.