Entrepreneurship is emerging rapidly in the modern global world.
The Entrepreneurship Class Emergence have been classified into three categories: Commercial, Industrial and Innovating Entrepreneurship.
Commercial Entrepreneurship- It is the term used in the French Economy in 18th Century. It was individualistic at that time and now has become collective. It was the first time when a distinction was made between the employers and the entrepreneurs. Taking Risk and Patience were the two qualities which have been observed in entrepreneurs in this Class.
Industrial Entrepreneurship- The role of Entrepreneurship have been changed with changing technology in the market. This nature of entrepreneurial class changed the recognition of entrepreneurs as promoter, coordinator and organisers as well as risk bearers.
Innovating Entrepreneurship- It has put more emphasis on research and development of goods and services for making advancements in the existing. This Entrepreneurial class have focused on customers and markets for making better decisions in the business. It has focused on minimizing the cost and increasing the customer satisfaction, thus increasing the profit.
Mansi Arora BBA V M A New Delhi