Classification in Terms of Motivation
Pure entrepreneurs are individuals who are
propelled to enter into venture by psychological and economic motives. Their
egos do not permit them to work for somebody else. They nurture desire of
starting a particular venture and earning high profit there from and thus
attaining a social status. They apply their knowledge, skill and insight in
making the venture a great success in order to earn maximum profit out of the
venture. Example Dhirubai Ambani, Jamshadji Tata, T.V. Sundaram Iyengar,
Seshadriji, Birla, Narayanamurthi, Aziz Premji and so on.
An induced entrepreneur is one who is inspired to
take up entrepreneurial activity thanks to entrepreneurship friendly policies
put in place by the Government. In other words, concessions, incentives and
soaps provided by the government drive them to enter into venture. Government
provides a great deal of support in the form of loans, subsidies, nominal rate
of interest, tax breaks, tax holidays, training, import of technology from
abroad, concessions for export oriented item, allotment of sheds, and lands at
subsidised price etc. impel the potential entrepreneurs to start the venture.
Motivated entrepreneurs are those motivated to take
up venture by the desire for self fulfilment. They are motivated to produce and
market product or service by sheer prospect of making huge profit. They are
further motivated to develop the venture to a saleable stage so that he/she can
sell the venture at a super profit to certain entrepreneurs(buyers) who do not
like to take risks in setting up a new venture but desire to buy well developed
venture promising great profit prospects.
These entrepreneurs have natural inclination to
start venture. They are supposed to be bold, optimistic and enterprising
persons. They have passion for meeting the challenges. Their inner urge and
inborn traits drive them to commence their ventures.