For the sort of business they wish to start, people have varied ambitions, objectives, desires, and aspirations. Hard labor is a success factor for some, and having wealth is a success factor for others. Some businesses prioritize social benefit over other considerations.
You can determine if you can survive a company’s work culture by learning about the sort of entrepreneurship it employs. This sort of entrepreneurship impacts the working environment and the entrepreneur’s attributes. If you want to work in a firm that encourages creativity and innovation, for example, applying for a position in imitative or social entrepreneurship would not help you. For you, the perfect workplace would be a company that focuses on technology or entrepreneurialism. The following are examples of different forms of entrepreneurship, according to Gurbaksh Chahal:
- Large company entrepreneurship
Large-scale entrepreneurship may get seen in companies having a finite life cycle, according to Gurbaksh Chahal. These businesses thrive due to their ability to innovate, and it is the best option for advanced experts who understand how to maintain innovation. When you work for a major corporation, you will almost certainly be a member of a C-level executive team. These businesses provide a variety of goods based on their primary offering. Small business entrepreneurship that experiences rapid growth can quickly transform into firm entrepreneurship. When a corporation buys them, this is also a possibility.
- Scalable entrepreneurship
This business begins with a unique concept potential to alter the world. Scalable startup entrepreneurship recognizes a gap in the market and develops a solution from a business strategy through launching it. Typically, venture capitalists grant investment for such businesses based on the novelty of the idea. Individuals hire specialized people because they want to expand quickly and profitably.
- International entrepreneurship
Entrepreneurs who practice international entrepreneurship engage in business outside India’s national borders. That might include establishing a sales office in a different nation or exporting items from India to another country. When demand for products and services declines in the home market and demand increases from the international market, international entrepreneurship is advantageous. International entrepreneurs often sell items in the Indian market until they attain maturity, at which point they sell them in the global market to profit.
- Hustler entrepreneurship
A self-starter motivated by their objectives and desires to achieve business is a hustler entrepreneur. People like this start small and work hard to expand their company. They put in their best efforts instead of spending money or capital to reach their company goals. They do not wait for chances to present themselves; instead, they create them. Hustlers have a never-say-die mentality, a risk appetite, and are always up for a challenge.
- Imitative entrepreneurship
This type of entrepreneurship imitates or copies current company concepts and strives to better them. These businesses duplicate existing products and services on the market, generally through a franchise arrangement. Such business owners are uninterested in innovation but are willing to work on and enhance established systems. Imitative entrepreneurship works by embracing current technology and adapting them to local needs. Fast food restaurants and global conglomerate firms are the best examples of entrepreneurship in action.
