Meaning of Entrepreneurship

An entrepreneur is an individual who conceives the idea of starting a new venture, takes all types of risks, not only to put the product or service into reality but also to make it an extremely demanding one. 

An entrepreneur is a person who looks for business opportunity and starts a new enterprise to make use of that opportunity.”

Entrepreneurship is an attitude of mind to seek opportunities, take calculated risk and drive benefits by starting and running a venture.

Entrepreneurship involves creation of a business idea and converting that idea into reality.

Entrepreneurship comprises of numerous activities involved in the conception, creation and running an enterprise. It is a management skill to mobilize resources such as man, money, machine and material to create an enterprise.

An entrepreneur is one “who —

ENTREPRISE

1.            E-Establishes a startup company.

2.            N-Neutralise and faces risks and uncertainties.

3.            T-Takes decisions to make the product or service a profitable one.

1.            R-Recognizes and utilizes opportunity

4.            E-Ensure to arranges and coordinates resources such as man, money, machine and material.

5.            P-Product or service are made valuable

6.            R-Responsible for the profits or losses of the company.

7.            I-Initiates and innovates a new concept

8.            S-Seek opportunities take calculated risk and drive benefits

9.            E-Entrepreneur get involved in numerous activities as conception, creation and running an enterprise

 

 

Meaning of Entrepreneur

Entrepreneur is an employee of a large organization, who is vested with authority of initiating creativity and innovation in the company’s products, services and projects, redesigning the processes, workflows and systems.

Entrepreneur represents an employee, who promotes innovation within the limits of the organization, while entrepreneur refers to a person who starts his own business with a new idea or concept.

The terms entrepreneur and entrepreneur are frequently used in the business world. Many people use these terms interchangeably because they think that they both contain the same elements.

An entrepreneur is nothing but an entrepreneur who operates within the boundaries of an organization. The entrepreneurs believe in change and do not fear failure. They discover new ideas, look for such opportunities that can benefit the whole organization and take risks, promote innovation to improve the performance and profitability of the organization. The job of an entrepreneur is extremely challenging. They get recognition and reward for the success achieved by them. 

It has now become a trend that large corporations appoint entrepreneur within the organization, to bring operational excellence and gain competitive edge in the market.