Definition of Entrepreneurship

Definition of Entrepreneur and Entrepreneurship

The word “Entrepreneur” has been derived from the fresh word “enterprendre”, which means “to undertake”. It refers to those who take the risk of new enterprises. The process of creating an enterprise is called “entrepreneurship”.

He can be regarded as an individual who acts as a catalyst of change and works towards social goods along with financial gains. He plays a vital role in economic development because of his risk-taking attitude. He has to assume different role during his journey towards success. He has to be a thinker, planner, organiser, worker, manager and a learner at the same time.

  • According to Investopedia.com

An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture.

  • According to Searchcio.techtarget.com

An entrepreneur is an individual who identifies a need in the marketplace and works to fulfill it.