Question

Types of entrepreneur according to clarence danhof

Answer 1

Answer:

Clarence Danhof classifies entrepreneurs into four types. 1. Innovative: Innovative entrepreneur is one who assembles and synthesis information and introduces new combinations of factors of production. They are characterized by the smell of innovativeness.

2. Imitative/ Adoptive: Imitative entrepreneur is also known as adoptive entrepreneur. He

simply adopts successful innovation introduced by other innovators. These entrepreneurs imitate

the existing entrepreneurs and setup their enterprise in the same manner. Instead of innovating,

they just imitate the technology and methods innovated by others. These entrepreneurs are very

helpful in less developed countries as they contribute significantly in the growth of enterprise

and entrepreneurial culture in these countries. Further by adopting the technology, which is

already tested, they generate ample employment avenues for the youth and therefore they are

treated as agent of economic development.

3. Fabian: The Fabian entrepreneur is timid and cautious. He imitates other innovations only if

he is certain that failure to do so may damage his business. They are very much skeptical in their

approach in adopting or innovating new technology in their enterprise. They are not adaptable to

the changing environment. They love to remain in the existing business with the age -old

techniques of production. They only adopt the new technology when they realize that failure to

adopt will lead to loss or collapse of the enterprise.

4. Drone: These entrepreneurs are conservative or orthodox in outloo k. They never like to get

rid of their traditional business and traditional machinery or systems of the business. They

always feel comfortable with their old fashioned technology of production even though the

environment as well as the society have undergo ne considerable changes. Thus, drone

entrepreneurs refuse to adopt the changes. They are laggards as they continue to operate in their

traditional way and resist changes. His entrepreneurial activity may be restricted to just one or

two innovations. They refuse to adopt changes in production even at the risk of reduced returns.

Explanation:

Answer 2

Answer:

Clarence danhof classified Entrepreneur into four categories:

• Innovative/aggressive.

• Adoptive/Imitative.

• Fabian.

• Drone.

Explanation:

1. Innovative/Aggressive:

• Innovative entrepreneurs are very helpful in their country's growth because the bring transformation in the lifestyle of masses.

• Innovative entrepreneurs sense the opportunity for the introduction of new technology, new market, and new ideas.

2. Adoptive/Imitative:

• Adoptive entrepreneurs are very helpful in developing countries because they contribute to the growth of enterprises.

3. Fabian:

• Fabian entrepreneurs accept change only when they feel threatened that failure will result in losses.

• Fabian entrepreneurs are cautious and timid.

4. Drone:

• Drone Entrepreneurs are conservative they do not like the change they do their traditional business with traditional machinery.

• Drone entrepreneurs are happy to use their old traditional technology of production even when society and technology are undergone considerable changes.