The term 'entrepreneurship' was derived from the 17th century French word "entreprendre". The term
refers to individuals who were undertakers, ie, who undertook the risk of new enterprise.In fact,
entrepreneurs in the ancient times were solidiers of fortune,adventures,builders and merchants.
The term "entrepreneur" was first introduced by the French economist Richard cantillon in 1755.
But the concept gained prominence from 1800, due to the work of French Economist J.B Say used the
term to describe some one who shifts economic resources of an area of lower productivity into one of higher
productivity and greater yield.
Adam smith viewed the entrepreneur as a person who undertook the formation of an organisation for commercial purposes.
He therefore , ascribed to the entrepreneur the role of industrialist.
In his view , entrepreneurs reacted to economic change, thereby becoming the economic agents who transformed demand into supply.
In the 19th century , entrepreneurs were gives new name -captain of Industry.
They were risk takers the decision -makers and the individuals who aspired to wealth and were subject to losses.
It was they who gathered managed resources to create new ventures.Over time the meaning of entrepreneur changed
from captain of Industry to an individual who made profit at the expense of other member of the society
refers to individuals who were undertakers, ie, who undertook the risk of new enterprise.In fact,
entrepreneurs in the ancient times were solidiers of fortune,adventures,builders and merchants.
The term "entrepreneur" was first introduced by the French economist Richard cantillon in 1755.
But the concept gained prominence from 1800, due to the work of French Economist J.B Say used the
term to describe some one who shifts economic resources of an area of lower productivity into one of higher
productivity and greater yield.
Adam smith viewed the entrepreneur as a person who undertook the formation of an organisation for commercial purposes.
He therefore , ascribed to the entrepreneur the role of industrialist.
In his view , entrepreneurs reacted to economic change, thereby becoming the economic agents who transformed demand into supply.
In the 19th century , entrepreneurs were gives new name -captain of Industry.
They were risk takers the decision -makers and the individuals who aspired to wealth and were subject to losses.
It was they who gathered managed resources to create new ventures.Over time the meaning of entrepreneur changed
from captain of Industry to an individual who made profit at the expense of other member of the society
