Understanding Entrepreneurship Styles

Being an entrepreneur means adopting new styles and accepting emerging changes. There are different types and styles of entrepreneurship. Innovative entrepreneurs explore new markets, technology, production methods and aim at producing distinct goods. On the other hand, imitative or adoptive entrepreneurs follow innovative methods that have already been established and proven to be successful. Another type is Fabians, who wait for someone to adopt a change. They are apprehensive of trying new methods and building confidence in them. There is another type, called the drone type. These people entirely dismiss making a change and follow their old traditions/methods. 

It’s important to understand different orientations before learning about entrepreneurship styles. The first one is people orientation which is to enjoy being around people and receiving their opinions and characteristics. Then some action-oriented individuals are completely focused on a task than the people around them. People who are highly dedicated to one field and study it in depth are categorised as deep skill-oriented ones. The last and most important aspect to discuss is the entrepreneurship style. Those who plan everything, are goal-oriented and work independently, fit the “maker” entrepreneurship style. 

A keen observer with an eye for finding different market opportunities defined the qualities of a true “merchant” entrepreneur. 

Another category of style is “magician”, who is always brimming with new ideas, ready to surprise the consumers and explore new aspects. This one is a “mobiliser” style, adopted by those who are ambitious about creating a social impact and address social issues. 

There’s also the “master” style which is about learning different methods in-depth and displaying great passion. 

Entrepreneurship is an interesting path and while you’re on it you may want to remember the above aspects and realise your behaviours, decisions and actions.

 

Dr. M. Chitra
Associate Professor,
School of Entrepreneurship,
Rishihood University

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