Classification of Entrepreneurs According to Ownership

Classification According to Ownership

1. Private Entrepreneur

Ventures started by individual either singly or collectively at their own risk after mobilising various resources in order to earn profit are called private entrepreneurship.

2. State Entrepreneurship

Trading/industrial ventures started by Government under various formats like company, corporation, departments, board denotes state entrepreneurship.

3. Joint Entrepreneurship

Ventures started and owned by both private individuals and government denote joint ownership.

Key Words

Entrepreneur Spontaneous Innovative Induced Imitative Motivate Fabian Drone

Case kits

• Consider yourself as a young aspiring entrepreneur to create an enterprise that manufactures chocolates. Make a detailed analysis for the success of your enterprise after considering the leading competitors in the market in terms of pricing, variety and quality.

• A started and running a textile showroom business in your area for the past one year. He was not very successful and not in a position to have customers. Design him an appropriate strategy to attract new customers of various age groups.

• Your friend wants to start a business with Rs. 10 lakhs from his ancestral property. Make an analysis for your friend to suggest him suitable business in your locality.

• Identify products which are exclusively utilised by kids under the age group of 1-5 years, 5-10 years,10-15 years.

• Critically examine an industry of your choice based on its current demand and supply of products.

• Imagine yourself as a successful entrepreneur in Chennai city. You have decided to enter into foreign markets. What are all the factors to be considered before entering the international market?

• As an entrepreneur, you have developed an APP for games with the latest technology. Answer the following questions

(i) List down the prospective customers for this APP.

(ii) How will you get more information from your prospective customers?

(iii) How you will update your app when the technology transforms?

(iv) Discuss about the pricing and marketing strategy for the APP?

Case Study – 2

Sri Krishna Integrated Farm

Founder:

Mr. R. Govindaraj,

Sri Krishna Integrated Farm,

Neppathur Village,

Sirkazhi T.K. Nagapattinam.

Products:

Supply of produced items like Cattle Farm, Fish Farm, Rabbit Breeder, Country chicken, Organic Paddy, Organic Fertiliser, Organic Vegetables, Eggs, Milk, Livestock Feed and organic grass seeds, Vellimasal, Hedgelucem and Concentrating maggots for fish and poultry.

Achievements:

i. Giving training to SHG

ii. Supply of Farm Products to Star Hotels and many traders for Breeding Purpose

iii. Supply to other states like Andhrapradesh, Karnataka and Kerala

iv. Above 15 lakhs Turnover

v. Size of Employment

vi. Training to unemployed Youth

vii. To reduce migration

A glimpse of Sri Krishna Integrated Farm