Define Entrepreneurship

What is entrepreneurs?

"It's sound like Tyrannosaurus or a weird creature from a past century Dinosaurs"!!

Entrepreneurs are individuals who recognise opportunities where others see chaos or confusion. They are aggressive catalysts for change within the marketplace. They have been compared to Olympic athletes challenging themselves to break new barrier, to long-distance runners dealing with the agony of the miles, to symphony orchestra conductors who balance the different skills and sounds into a cohesive whole, or to top-gun pilots who continually push the envelope of speed and daring. Whatever the passion, because they all fit in some way, entrepreneurs are the heroes of today's marketplace. They start companies and create jobs at a breathtaking pace. The challenge the unknown and continuously create the future.

(Kuratko, D.F & Hodgetts, R.M., (2001) Entrepreneurship - A Contemporary Approach. 5th ed. Harcourt College Publishers.)

An entrepreneur is an individual who efficiently and effectively combines the four factors of production. Those factors are land (natural resources), labor (human input into production using available resources), capital (any type of equipment used in production i.e. machinery) and Enterprise (intelligence, knowledge, and creativity.)

Entrepreneurship is often difficult and tricky, as many new ventures fail. Entrepreneur is often synonymous with founder. Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service. Entrepreneurs often have strong beliefs about a market opportunity and organize their resources effectively to accomplish an outcome that changes existing interactions.

Some observers see them as being willing to accept a high level of personal, professional or financial risk to pursue that opportunity, but the emerging evidence indicates they are more passionate experts than gamblers.

Business entrepreneurs are viewed as fundamentally important in the capitalistic society. Some distinguish business entrepreneurs as either "political entrepreneurs" or "market entrepreneurs," while social entrepreneurs' principal objectives include the creation of a social and/or environmental benefit.

Business entrepreneurs who adhere to Cultural Creative values are defined^[who?] as innerpreneurs as their principal objectives include personal development and social change.

(Wikipedia overview)

The word "entrepreneur" is a loanword from French. In French the verb "entreprendre" means "to undertake", with "entre" coming from the Latin word meaning "between", and "prendre" meaning "to take". In French a person who performs a verb, has the ending of the verb changed to "eur", comparable to the "er" ending in English.

Enterprise is similar to and has roots in, the French word "entreprise", which is the past participle of "entreprendre". Entrepreneuse is simply the French feminine counterpart of "entrepreneur".

According to Miller, it is one who is able to begin, sustain, and when necessary, effectively and efficiently dissolve a business entity.

(Wikepedia Etymology)