Developing countries need imitative entrepreneurs rather than innovative entrepreneurs”. analyze and Substantiate your answer with reasons...

Developing countries need imitative entrepreneurs rather than innovative entrepreneurs”. analyze and Substantiate your answer with reasons and examples.

Expert Solution

The imitative entrepreneur imitates the innovations of others by reverse engineering or with it's own innovations in its technology; while an innovating entrepreneur introduces inaugurates new production method for the new product. In my opinion the developing countries need imitative entrepreneurs instead of the innovative entrepreneurs. The main reasons are:

-- The innovator has to bear high cost compared to the imitative entrepreneurs.

-- An innovator can take challenge however the developing countries cannot allow the public in the face of the Black hole thus needs an imitator.

-- An innovator requires the modern technology; while developing countries are not in a position to use digital technology therefore imitative entrepreneurs are more suitable.

-- Discovery of market is not easy in the developing countries thus imitator is preferred. In developed countries it is easy to spread the market of product thus they need an innovator

-- Due to the shortage of funds there are less opportunities in the developing countries for what the individuals do not come forward to become innovator, thus imitative entrepreneurs are more suitable

Rahul Sunny answered 1 year ago

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