ENTREPRENEURSHIP

Detailed explanation-1: -Adoptive or Imitative Entrepreneur: There is a second group of entrepreneurs generally referred as imitative entrepreneurs. The imitative entrepreneurs copy or adopt suitable innovations made by the innovative entrepreneurs. They does not innovate the changes himself.

Detailed explanation-2: -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-3: -Imitative entrepreneurship refers to the process of creating a business by copying or adapting an existing concept or business model. These entrepreneurs take an existing business idea, product, or service and replicate it.

Detailed explanation-4: -Business model innovation: This is when you transform business operations. Ride-sharing platforms, such as Uber or Lyft, are an example of this. They took the taxi and car service companies’ business model and altered it to a peer-to-peer, digitized model.