The word Entrepreneurship is derived from the French verb “ENTERPRENDRE”.
The French men who organized and led military expeditions in the early 16th Century
were referred to as Entrepreneurs.
Around 1700A.D. the term Entrepreneur was used for architects and contractors of
DEFINITION OF ENTREPRENEUR
According to Oxford Dictionary
“One who undertakes an enterprise, especially a contractor – acting as
intermediary between capital and labor”
According to Peter .P. Drucker
“Innovation is the specific tool of entrepreneurs, the means by which they exploit
changes as an opportunity for different business or a different service”
CHARACTERISTICS OF AN ENTREPRENEUR
Mental Ability – Entrepreneur must have creative thinking and must be able to
analyze problems and situations. He should be able to anticipate changes.
Business Secrecy – He should guard his business secrets from his competitors.
Clear Objectives – He must have clear objectives as to the exact nature of
business or the nature of goods to be produced.
Human Relations – He must maintain good relation with his customers, employees,
etc. To maintain good relationship he should have emotional stability, personal
relations, tactfulness and consideration.
Communication Ability – He should have good communication skills means both
the sender and the receiver should understand each others message.
Technical Knowledge – He should have sufficient technical knowledge.
PERSONAL CHARACTERISTICS OF AN ENTREPRENEUR
Long term involvement – An entrepreneur must be committed to the project.
Moderate risk taker
High energy level – He should be able to work for long hours, for which his energy
level should be high.
DEFINITION OF ENTREPRENEURSHIP
According to A.H. Cole
“Entrepreneurship is the purposeful activity of an individual or group of associated
individuals, undertaken to initiate, maintain or aggrandize profit by production or
distribution of economic goods or