ENTREPRENEURSHIP

Detailed explanation-1: -Imitating entrepreneurs: The imitating entrepreneurs are those who immediately copy the new inventions made by the innovative entrepreneurs. These do not make any innovations by themselves; they just imitate the technology, processes, methods pioneered by others.

Detailed explanation-2: -Imitative entrepreneurs need to nevertheless differentiate themselves from existing businesses; otherwise they risk being seen as copycats. Example: The Samwer brothers, Alexander, Marc and Oliver, are famous for cloning companies such as eBay, Airbnb, Facebook, Pinterest, and Groupon.

Detailed explanation-3: -An intrapreneur develops a new idea within the framework of an existing company. They are similar to an entrepreneur in their focus on innovation, but unlike an entrepreneur, they have access to their employer’s resources.

Detailed explanation-4: -While innovative entrepreneurs are creative, imitative entrepreneurs are adoptive. They imitate innovative entrepreneurs because the environment in which they operate is such that it does not permit them to have creative and innovative ideas on their own.