Entrepreneurship Development

ENTREPRENEURSHIP DEVELOPMENT

Entrepreneur
Evolution of concept of enterpriser
* The leger entrepreneur is taken from French language which originally meant to designate an organizer of musical or other entertainments.

* In the early 16th century, it was applied to those who were tenanted on military expedition.

* In 17th century it was lengthened to cover civil engineering activities, such as gimmick and fortification.

* Only in the beginning of 18th century the word was used to refereconomic aspects.

* The evolution of the concept of entrepreneur is considered over more than four centuries.

Entrepreneurs perform the functions of entrepreneurship. They identify new business hazard and rake advantages of it. They take risks. They easily cope with the change. Entrepreneurs are execution oriented individual driven to seek new challenges and accomplishment.

Definitions:
An entrepreneur is a person who is uncertainty bearer, a risk mission agent of production.
- Richard Cantillon
Entrepreneurs are innovator s who uses the process to rive the status quo through new combination of resources and new methods of commerce.




-Joseph Schumpeter

An entrepreneur is a visionary individual who takes risks by starting a new venture through assembling and coordinating miscellaneous resources for the sake of rewards.
Entrepreneurs are:
* A risk bearer
* An innovator
* An organizer


Entrepreneur as a Risk Bearer
Richard Cantillon, an economist was the first who introduced the term entrepreneur and his unique risk bearing function in economies in the early 18th century. He defined entrepreneur as an agent who buys facters of production at certain price and sells them at uncertain price in future. Thus theyre taken as risk bearing agent of production.

Entrepreneur as an organizer

Jean Baptiste Say, an aristocratic industrialist associates entrepreneurs with the functions of...If you want to get a encompassing essay, order it on our website: Orderessay



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