ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The example of a Fabian entrepreneur is Tom Anderson and example for drone entrepreneur is are any entrepreneur of industry who still makes “bid” with hand. Fabian entrepreneurs are entrepreneurs who are second generation entrepreneurs, they do not take the risk and will always prefer a stable business.

Detailed explanation-2: -Fabian Entrepreneurs These are entrepreneurs that are very careful in their approaches and cautious in adopting any changes. They are not prone to sudden decisions and try to shy away from any innovations or change that doesn’t fit their narrative.

Detailed explanation-3: -Fabian: The Fabian entrepreneur is timid and cautious. He imitates other innovations only if he is certain that failure to do so may damage business. Drone: His entrepreneurial activity may be restricted to just one or two innovations. He refuses to adopt changes in production even at the risk of reduced returns.

Detailed explanation-4: -Even though Imitators have an extraordinary ability to revolutionize existing ideas, they tend to do things on their own terms and are willing to take risks to make their vision real. Mark Zuckerberg, Co-founder, Chairman, and CEO of Facebook, is an Imitator.