📘 Clarence Danhof’s Classification of Entrepreneurs | 📅 1949 | 👤 Clarence Danhof’s
Danhof classified entrepreneurs based on their attitude toward innovation and risk, into four types:
| Type | Attitude Toward Innovation | Risk Tolerance |
|---|---|---|
| 💡 Innovative | Creates innovation | High |
| 🧩 Imitative | Copies innovation | Moderate |
| 🐢 Fabian | Very reluctant to change | Very low |
| 🛑 Drone | Resists change completely | None |
💡 1. Innovative Entrepreneurs
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Willing to introduce new products, technologies, and methods.
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Proactive in creating new markets.
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Typically found in developed economies.
🧩 2. Imitative Entrepreneurs
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Do not innovate but quickly adopt innovations developed by others.
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Active in underdeveloped or developing countries.
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Help spread innovation through imitation.
🐢 3. Fabian Entrepreneurs
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Very cautious and skeptical about change.
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Will adopt innovation only when absolutely necessary or under pressure.
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Prefer stability over risk.
🛑 4. Drone Entrepreneurs
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Resist change entirely, even if it means losses.
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Stick rigidly to traditional methods.
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Eventually become obsolete if the market evolves beyond them.