INTRODUCTION TO TECHNOPRENEURSHIP Flashcards
What is the famous quote by Dhirubhai Ambani?
IF YOU DON’T BUILD YOUR DREAM,
SOMEONE ELSE WILL HIRE YOU TO
HELP THEM BUILD THEIRS
A person who
takes the initiative
to launch and run
an innovative
business or
endeavor
ENTREPRENEUR
The traits of an entrepreneur includes
their _________ , _________ and ____________ to build and run a company with the intention of turning a profit.
willingness to take chances, think
outside the box, allocate resources
Through the introduction of new goods,
services, or business models, they
frequiently play a critical role in
promoting economic development and
the creation of jobs
ENTREPRENEUR
5 TYPES OF ENTREPRENEUR
INNOVATORS
HUSTLERS
IMITATORS
RESEARCHERS
BUYERS
___________ are the types of entrepreneurs
who comes up with completely new ideas
and turn them into viable businesses
Innovators
Advantages of Being an Innovative Entrepreneur:
Get all the glory for the success of the
business (and take all the arrows)
Create the rules
Face minimal competition during the
initial days
Disadvantages of Being an Innovative
Entrepreneur:
Often lack proven success, high risk of
failure
Financial Challenges
High Pressure and Stress
Regulatory and Legal Challenges
_________- often start small and think about
effort - as opposed to raising capital to
grow their businesses. These types of
entrepreneurs focus in starting small
with the goal of becoming bigger in the
future.
Hustlers
____________ are the types of entrepreneurs
who copy certain business ideas and
improve upon them. They are always
looking for ways to make a particular
product better so as to gain an upper
hand in the market.
Imitators
______________usually believe
in starting a business that has high
chances of succeeding because they have
put in detailed work to understand to
understand all aspects
Research entrepreneurs
____________ entrepreneurs will
identify a business and
assess its viability,
proceed to acquire it and find the most suitable person to run and grow it.
Buyer
