Entrepreneur. Introduction of Entrepreneur. An entrepreneur is one who always searches for change, responds to it and exploits it as an opportunity .(Peter Drucker ) An entrepreneur in any given economy is an individual who introduces something new in the economy .(Joseph Schumpeter)
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The third type of entrepreneur is Fabian Entrepreneurs. Such type of entrepreneurs are very shy and lazy by nature. They are very cautious people. They do not venture to take risks. They are rigid and fundamental in their approach. Usually, they are second generation entrepreneurs in a family business enterprise. They follow the footsteps of their successors. They imitate only when they are very clear that failure to do so would result in a loss of the relative position in the enterprise.
Stage 1: Identification and evaluation of the business opportunity.
Stage 2 : Development of the business plan.
Stage 3 : Determination of the what resources required.
Stage 4 : Creation and actual management of the enterprise.