Explain The Stages of Entrepreneurs

1. First Generation Entrepreneur- He is one who starts an industrial unit by innovative skill. He is essentially an innovator, combining different techniques to produce a marketable product or service.
2. Modern Entrepreneur – He is one who undertakes those ventures which go well along with the changing demand in the market. They undertake those ventures which suit the current marketing needs.
3. Classical Entrepreneur – He is one who is concerned with the customers & marketing needs through the development of a self-supporting venture. He is a stereotype whose aim is to maximize his economic returns at a level consistent with the survival of the firm with or without an element of growth.

* Conclusion –   It should be noted that private entrepreneurship has to harmonise economic opportunities with social & moral responsibility. Harmonised planning of economic & moral values is a long drawn out process, but the goal has to be kept in named constantly.