Name: Aakriti Beri, Maitri Modi, Deep Singhvi, Krutarth Dalia

Enrolment Number: 312019004, 312019016, 312019008, 312021011

Submitted To: Mr. Sandeep Sharma

Module: Entrepreneurship, GMT209-31

Topic: Classification Based on Behavioral Scientists

Course: BBA-LLB

Batch: 2019-24

Department: School of Law, AURO University, Surat

1. SOCIAL ENTREPRENEURS
A societal business visionary is an individual who seek clever appeal or request that can possibly
tackle local or national area-based issues. These people are ready to take danger and work to make
positive changes in the public eye through their drives. Social entrepreneurs might accept that this
training is a way of associating you to your life's motivation, help other people track down theirs, and
have an effect on the planet.
A social business visionary may likewise try to address irregular characteristics in such accessibility,
the underlying drivers behind such community issues, or the social disgrace related with being an
occupant of such networks. The primary objective of a societal business person isn't to acquire a
benefit or any sort of profit from it. Rather, a social business person looks to execute far reaching
enhancements in the public arena. Be that as it may, a social business person should in any case be
monetarily adroit to prevail in the cause.
For example-
1. URVASHI SAHNI
Discussing the best of societal business people in India, Urvashi Sahni certainly beat the rundown.
She is the founder and CEO of Study Hall Education Foundation also called as SHEF; an association
committed to offering schooling to the most impeded young ladies in India. She has worked with
more than 900 schools and changed the existence of 150,000 young women ladies
(straightforwardly) and 2,70,000 young ladies (by implication) with her program. She was the 'Social
Entrepreneur of The Year' which was granted in 2017 for her sacrificial demonstration of
commitment and energy. 1
2. HARISH HANDE
Harish Hande is another spearheading social entrepreneur of India. He is the CEO and Founder of
Selco, an organization delivering feasible energy source to village areas of the country. This venture
was the 1st agrarian area solar financing program in the country. Till now Selco has offered more
than 120,000 establishments and has in excess of 25 working retail and administration focuses in
Karnataka alone.

2. ACTIVE PARTNER
An association firm or organization has various kinds of partners remembered for it and so one of the
partners who is effectively engaged with the business is active partner. They are those individuals
which take parts in everyday activities of the organization. They add to the capital of the
organization and has limitless obligation for the organization obligations. They are more dynamic
than different partners. They convey day to day business for the benefit of any remaining

1
Anuja Bharech, 8 Amazing Social Entrepreneurs In India who are Changing The Face Of Urban India, available at-
https://digest.myhq.in/social-entrepreneurs-in-india/.
accomplices. This close they go about as a specialist of the relative multitude of different
accomplices. As so active partners are otherwise called Ostensible Partner. Henceforth, when active
partners if wishes to resign from the firm, he should give the public notification for the same and
except if they don’t give a public notification, they will be obligated for every one of the
demonstrations of organization even after retirement.
Key Points of Active Partners
A. Capital commitment contributes equivalent capital management, partakes effectively in everyday
working.
B. Offer in benefit and misfortune shares all benefits or losses.
C. Unlimited Liability
For example-
1. OLA CABS
A multi-national cab aggregator company of India was started in 2010. The founders were Bhavish
Agarwal and Ankit Bhati. It bridges the gap between the cab owners and passengers. Rather than
purchasing and leasing its own vehicles, Ola accomplices with various cab drivers and proprietors
and adds a bit of current innovation to the entire arrangement.2

3. SOLO ENTREPRENEURS
A person who starts and maintains the business freely who plays out all obligations identified with
their business alone are known as solo operator person. They present their own capital in the
business and takes the entire responsibility. If fundamental as solo business venture turns out just for
them as they need to work for themselves, they favor without any assistance dealing with their
business.
It’s important to note that all solo entrepreneurs are entrepreneurs, but all entrepreneurs are not solo
entrepreneurs.
Key Points of Solo Operators
1. They are not just organizer or maker, yet they are exclusively liable for creating and conveying of
items or administration of business.
2. Solopreneurs have a solitary business center they concentrate to fabricate a consistent client base
to keep their business productive however are not looking to grow.
For example-
1. MAMA EARTH
The parent duo turned as entrepreneurs the first Asia’s brand which was certified as MadeSafe. The
mother wanted to make sure that the products she uses for her off springs are safe and naturally made

2
How Ola Became India's Leading Cab Aggregator | Ola Story, November 8 2021, available at-
https://startuptalky.com/startup-story-ola/.
which made them come up with this brand. Also this is the only one organization which crossed the
mark of Rs. 100 Crore in just four years. 3

4. INVENTORS:
Such entrepreneurs with their ability and innovativeness design new products. Their fundamental
interest lies in research and imaginative activities. An inventor entrepreneur is somebody who is
centered exclusively around making and building an item, interaction, or service that can tackle the
issues that somebody may have. While the item or service is intended to address an issue and ought
to possibly have the option to fit onto the market, designers don't for the most part concentrate on
evaluating the market suitability of the that they've concocted. An innovator endeavors to perform
state of the art research that is basically never been done before.
For Example-
1. HENRY FORD
At the turn of the century, cars were viewed as toys for the exceptionally rich. Henry Ford was
determined to evolving, engineer went after building an amazing, yet reasonable and dependable,
efficiently manufactured vehicle. With his imaginative thoughts and reasonableness, the final
product was name as Ford Model T, which was sold for $850 in the year 1908. The organization
couldn't fulfill the need of the vehicle on account of the restricted creation limit. So then, at that
point, Henry zeroed in on developing the mechanical production system process. Throughout the
decade he made vehicle fabricating more productive and less exorbitant with adjustments, for
example, adding computerized transport line and preparing every laborer to perform individual
undertaking. This new development and innovation his organization had a decent ascent. By 1919
with the assistance of his developments he was delivering half of the vehicles created in U.S. with
just expense of $ 350. 4

2. STEVE JOBS
He began NeXT, a PC and programming organization. Around this time, he put $5 million in Pixar,
the liveliness arm of George Lucass film organization. He kept on expanding his venture, until he
controlled the organization. It demonstrated a shrewd choice: Pixar proceeded to foster different
raving success establishments, including Toy Story, Finding Nemo and The Incredibles. His stocks
went up and at last NeXT was bought by Apple and occupations was asked to get back to ambushed
apple and go about as CEO. 5
These were the exemplary instances of designers who changed the world with their developments
and innovativeness.

3
Palak Agarwal, Rs 100 Cr in 4 years: What made Mamaearth India's fastest-growing company, May 10, 2020,
Available at- https://yourstory.com/smbstory/mothers-day-mamaearth-varun-ghazal-alagh-entrepreneur-gurugram/amp
4
9 Iconic Inventors Who Changed the World, Entrepreneur India, available at-
https://www.entrepreneur.com/slideshow/271993
5
ibid
 5. LIFE-TIMERS
These entrepreneurs people accept business as an essential part to their life. Generally, the family
undertaking and organizations which chiefly rely upon exercise of individual ability fall in this kind
or classification of business visionaries. Such type of entrepreneurs has strong motive that their
business is so engraved that it has become a vital part of their life.
For example-
1. Mohammad Saidullah-
An innovators brain ought to be free not bound with circumstances or situations a conviction
that has made up Mohammad Saidullah’s enthusiasm to create multi-utilitarian items like the
land or water capable cycle, the smaller than usual farm hauler, key worked table fan, grain
shaper worked little water siphon and others. He draws motivation for his advancements from
his encounters throughout everyday life.6

6. CHALLENGERS
These are such entrepreneurs who always seeks new challenges in enterprise venture, including
manufacturing, distribution and marketing. Upon achieving their desired challenge, they set new
challenges for them and this tends to the growth of the enterprise.
A small company grows into a big company, its market value increases, growth increases, goodwill
increases because of the recognition of growing challenge and steps taken on it. Access to more
resources, more opportunities, talent flocks and global partners seeking you out leads to the growth
and expansion of one’s company. What happens after you achieve the set goal, will then the stability
help to reach out for further expansion? Becoming rigid and thinking that their record of success
means they need not change can lead company to become complacent. What keeps the company
growing at regular interval of time? The entrepreneurial mindset can guard against the falling of the
company, one must always see oneself as a challenger.
The challengers are the real entrepreneurs as they always come up with new and innovative ideas.7
The challengers are the fastest as big company can be slow and so for growing speed should be kept
as a critical element of business.8
The challengers can change the world; they are the ones who is always asking how the company can
serve the world? They are concerned about the impact of business on humanity.9
Among all the qualities required in a successful entrepreneur one is having a challenger mind. They
have insatiable thirst for knowledge, they have desire to seek and learn in all forms and formats.
They not even challenge and change the way of doing business but also the way of thinking.

6
The Amphibious Bicycle and Other Technological Contributions, National Innovation Foundation – India, available at-
https://nif.org.in/innovation/amphibious_bicycle/297.
7
Hiroshi Mikitani, Why you should always be a challenger, World Economic Forum, 2015.
8
ibid
9
ibid
 7. BUYERS
There’s just minute difference between buyer entrepreneurs and investors. Such type of
entrepreneurs has had a business before and they could have sold it successfully or got their wealth
from some other means. They buy businesses which have a proven track record with a motive to
improve it. They’re more active in growing their investment, they always maintain and plays an
active part in that business. Buying into already established business helps to focus on expanding the
brand and networking and also built-in market share and customer base.
The main focus of buyers is to acquire a business that already has a solid foundation rather than
building from the scrap.
There are six types of buyers which are as follows:
i. Strategic buyers: one of the most likely buyers of a company is another company. The
businesses which pursue growth through acquisition are often referred to as strategic buyers.
ii. Private equity: it is investment vehicles for institutional investors. They are mainly looking
for maximize the profitability of business.
iii. Family office: in this type of instead of investment of groups of high net-worth individuals,
family offices invest the money of single wealthy family.
iv. Holding company: their sole purpose is to own the other companies. They do not directly do
the business and instead generate their revenue from the dividends and earnings of the stock
owned by them.
v. Search fund: it consists of an individual, backed by a team of investors who are looking to
buy a business and take over the operations.
vi. Employees of the company: an employee-stock-ownership plan will gradually transfer the
company’s equity into retirement packages, in leveraged ESOP the employees can debt to
buy the owner out of a portion. It provides employees with valuable measures of input and
control.

8. SERIAL ENTREPRENEURS
A serial entrepreneur is one who begins with few organizations in a steady progression manner rather
than starting with one endeavour and keeping fixed on it for a long time like a more regular business
person. Serial business person might sell their organizations after they come to a specific degree of
development in that particular organization. They might hold possession while appointing everyday
administrative obligations to some other person. Or on the other hand, if the business is failing to
meet expectations, they might shut it down and continue on to the following business plan that they
have.
It's normal for individuals to begin organizations, experience disappointment and afterward attempt
once more. Serial entrepreneurs are for the most part considered an alternate sort in view of their
history of beginning various fruitful undertakings. There is no standard number of organizations that
somebody needs to begin to be viewed as a serial business person, yet three might be a base. Nor
does all organizations of that particular entrepreneur need to succeed or create benefits. Nonetheless,
a great many people viewed as serial business visionaries have no less than several important
victories.
For example-
1. MUKESH BANSAL
He is the founder of a well know online shopping site and India's best web-based design retailer,
Myntra and offered the same to Flipkart in the year 2014 which was then the biggest online business
exchange for an amount of almost Rs. 2,000 crores approximately in the country's start-up
environment. Bansal fabricated a solid brand of Myntra, yet additionally a fruitful private named
business that keeps on driving Flipkart's fashion deals, and is probably going to be a basic gear-tooth
in the wheel in the Walmart-Flipkart period. Bansal, as best fashioned business visionaries,
continued on to another thought, and a new test in the year 2016. He came up with Cure.fit which
was a start-up for wellbeing and wellness, in Bengaluru and plans to introduce it to around 15 urban
areas by 2020. Cure.fit ventured into the psychological health space with Mind.fit in the year 2017,
and into the QSR space with Eat.fit in October 2018.10

9. FAMILY ENTREPRENEURS
Family entrepreneurs as the name proposes, is the business which is effectively possessed, worked
and oversaw by at least two individuals from one single family. The business person might be
connected by blood, marriage or other factors. These family-owned businesses assume a critical part
in the overall economy. Without a doubt it is the most seasoned enduring monetary framework, that
has a generous commitment in the nation's Gross National Product [GNP], also in providing
employment to varied nature of people and exports of the country.
For example –
1.RELIANCE INDUSTRIES
A multi billionaire Indian Company founded by Dhirubhai Ambani. It is amongst one of the largest
family runed business and now they are planning and equipping up for their third-generation family
members.

Sohini Mitter, Eat, Sleep, Start up, Repeat: here are India’s top serial entrepreneurs in recent years, November 13,
10

2018, available at- https://yourstory.com/2018/11/eat-sleep-start-repeat-indias-top-serial-entrepreneurs-recent-years/amp.