ENTREPRENEURSHIP

Detailed explanation-1: -FABIAN: These entrepreneurs are conservative or orthodox in outlook. They never like to get rid of their traditional business and traditional machinery or systems of the business.

Detailed explanation-2: -Drone Entrepreneurs These are entrepreneurs who do not like a change. They are considered as ‘old school’. They want to do business in their own traditional or orthodox methods of production and systems. Such people attach pride and tradition to even outdated methods of doing business.

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: -The main difference between Fabian and drone entrepreneurs lies in the fact that while Fabian entrepreneur adopts to changes eventually as a last resort, drone entrepreneur never adopts himself or herself to change.