1. Innovating Entrepreneurs:
An innovating entrepreneur is one who introduces new goods, inaugurates new method of production, discovers new market 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.
2. Imitative Entrepreneurs:
These are characterized by readiness to adopt successful innovations inaugurated by innovating entrepreneurs. Imitative entrepreneurs do not innovate the changes themselves, they only imitate techniques and technology innovated by others. Such types of entrepreneurs are particularly suitable for the under-developed regions for bringing a mushroom drive of imitation of new combinations of factors of production already available in developed regions.
3. Fabin Entrepreneurs:
Fabin entrepreneurs are characterized by very great caution and skepticism in experimenting any change in their enterprises. They imitate only when it becomes perfectly clear that failure to do so would result in a loss of the relative position in the enterprise.
4. Drone Entrepreneurs:
These are characterized by a refusal to adopt opportunities to make changes in production formulae even at the cost of severely reduced returns relative to other like producers. Such entrepreneurs may even suffer from losses but they are not ready to make changes in their existing production methods.
ENTREPRENEURSHIP IN DEVELOPING COUNTRIES LIKE PAKISTAN.
If we analyze the countries like Pakistan we find that the entrepreneurial activities are more or less confined to business, trade, commerce, road transport , entertainment and fast foods etc. whereas there is a critical shortage of entrepreneurs in the field of manufacturing and industry which are of crucial importance for economic development. As prof. Gustave F. Papanek writes .even if in Pakistan some industrial structure has been set-up. But still it is...