Management

Urge
Skill
Vision
Growth
Innovation
Risk
Enterprise
Meaning of Entrepreneur : An Entrepreneur is a person who perceives a need and then
brings together manpower, material and capital required to meet that need. In other
words an entrepreneur is an individual or team that identifies the opportunity, gathers the
necessary resources, creates and ultimately responsible for selling and the
performance of an organization.
An entrepreneur is a person who is able to express and execute the urge, skill,
motivation and innovative ability to establish a business or industry of his own, either alone
or in collaboration with his friends. His motive is to earn profit through the production or
distribution of goods or services. Adventurism, willingness to face risks, innovative urge and
creative power are the inborn qualities of entrepreneurship. Entrepreneurship can also be
explained as a process of executing a work in a new and better way.


Organization





















Diagram : Basics of An Entrepreneur


Definition of Entrepreneur:
According to Harbison
"An entrepreneur is not an innovation but an organization builder or one who has the
skill to build an organization and who must be able to harness the new ideas of different
innovators to the best of the organization."
According to Peter F. Drucker
Entrepreneur as one who always searches for change, responds to it and exploits it as
an opportunity. Innovation is the specific tool of entrepreneurs, the means by which
they exploit change as an opportunity for a different business or service



Meaning of Entrepreneurship: Entrepreneurship refers to a process of action an
entrepreneur undertakes to establish his enterprise. It is a creative and innovative response
to the environment. In other words entrepreneurship can be defined as an ability to discover,
create or invent opportunities and exploit them to the benefit of the society, which in turn
brings prosperity to the innovator and his organization.







Definition :
B. Higgins, in his book "The economic Development" has said. "Entrepreneurship is meant
the function of seeking investment and production opportunity, organizing an enterprise to
undertake a new production process, raising capital, hiring labour, arranging the supply of
raw materials, finding site, introducing a new technique and commodities, discovering new
sources of raw materials and selecting top managers of day to day operations of the
enterprise."




Jkedi
An entrepreneur is a person who:
Identifies a need or problem that can be a viable business opportunity
Takes the risk to produce a solution so as to address or seize the
need, problem or opportunity
Delivers the solution by selling
Enterprise Entrepreneur Entrepreneurship
Object Person Process of Action
In doing so creates wealth and employment for self and others