ENTREPRENEURSHIP

Detailed explanation-1: -Classical entrepreneur is one who starts his own venture as a family business. They are called life timers. They engage in business as a matter of routine.

Detailed explanation-2: -Family Businesses Definition: A business actively owned and/or managed by more than one member of the same family. If you own a family business, you probably worry even more than the average entrepreneur about ensuring that your company not only survives, but also thrives to nurture the next generation.

Detailed explanation-3: -The dictionary lists speculator, tycoon, magnate, mogul, hustler, and wheeler and dealer as synonyms for entrepreneur.

Detailed explanation-4: -A classical entrepreneur is one who is concerned with the customers and marketing needs through the development of a self-supporting venture. He is a stereotype entrepreneur whose aim is to maximise his economic returns at a level consistent with the survival of the firm with or without an element of growth.