Friday 9 December 2011
Definition of an entrepreneur
Definition of an entrepreneur
An entrepreneur is one who takes risk and bears uncertainity . Any one who undertakes the task of combining capital and labour
is an entrepreneur. He organises and manages a business unit assuming the risk for profit.
According to J.B. Say "An entrepreneur is one who brings together the factors of production and combined them into a product.
He made a clear distinction between a capitalist and an entrepreneur. capitalist only a financier.
Entrepreneur is the co-ordinator and organiser of a business enterprise.
According to Joseph. A schumpeter " entrepreneur is a person who introduces,innovate changes in an economy.
They are essentially motivated and talented class of people and key figures in development.They foresee the potentially profitable
opportunity and tries to exploit it. Innovation involves problem-solving and it may occur in any of the various forms viz introduction of new product,
an improvement,introduction of new methods f production, opening of new markets, comquest of new source of supply of raw-materials,
carrying out new forms of organisations,changes in management style etc.
Francis A. Walker defines an entrepreneurs as a person who is endowed with above average ability for organising and co organating the various other factors of production.
He is a pioneer and captain of the industry.
The more combentent the entrepreneur , the more will be the profit as his reward.
Peter .F. Drucker in his book "Innovative entrepreneur " defined entrepreneur as " one who always searches for change,respond to it as an opportunity."
Thus different writers have defined entrepreneur in different ways. Genarally there is no accepted definition or model of what the entrepreneur is or does.
An entrepreneur is one who takes risk and bears uncertainity . Any one who undertakes the task of combining capital and labour
is an entrepreneur. He organises and manages a business unit assuming the risk for profit.
According to J.B. Say "An entrepreneur is one who brings together the factors of production and combined them into a product.
He made a clear distinction between a capitalist and an entrepreneur. capitalist only a financier.
Entrepreneur is the co-ordinator and organiser of a business enterprise.
According to Joseph. A schumpeter " entrepreneur is a person who introduces,innovate changes in an economy.
They are essentially motivated and talented class of people and key figures in development.They foresee the potentially profitable
opportunity and tries to exploit it. Innovation involves problem-solving and it may occur in any of the various forms viz introduction of new product,
an improvement,introduction of new methods f production, opening of new markets, comquest of new source of supply of raw-materials,
carrying out new forms of organisations,changes in management style etc.
Francis A. Walker defines an entrepreneurs as a person who is endowed with above average ability for organising and co organating the various other factors of production.
He is a pioneer and captain of the industry.
The more combentent the entrepreneur , the more will be the profit as his reward.
Peter .F. Drucker in his book "Innovative entrepreneur " defined entrepreneur as " one who always searches for change,respond to it as an opportunity."
Thus different writers have defined entrepreneur in different ways. Genarally there is no accepted definition or model of what the entrepreneur is or does.
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