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  • Writer's pictureShovik Sarkar

Types of Entrepreneurs according to Clarence Danhof

  1. Innovative- assemble and synthesize information and introduce new combinations of factors of production

2. Imitative or adoptive- adopts successful innovations introduced by other innovators

3. Fabian- timid or cautious, only imitates other innovations if he is certain that failure to do so may damage his business

4. Drone- creates one or two innovations at most, refuses to adopt changes in production even at the risk of reduced returns

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