In one word entrepreneurship is considered the act of assuming the risk and the tasks of an entrepreneur. Authorities while discussing small business & its initiators explained this almost in the same way. A few of such entrepreneurship definition are presented hereunder:
Selected entrepreneurship definitions
According to Kuratko D F and Hodgetts R M “The process of organizing, managing and assuming the risks of a business.”
Koontz & Fulmer said “The ability of a person to see a business opportunity, to get together the capital needed to take advantage of the opportunity, and to start a business, taking the risk of failure in the hope of reaping the rewards of success.”
Nathaniel H Left mention that “Entrepreneurship is the capacity for innovation, investment, and expansion in new markets, products, and techniques.”
An Expert “The act of starting a business.”
The terms entrepreneur and entrepreneurship are interlinked, one can think of the one without the other. The theme or discipline that suggests the explanations is based on the same principles, whether in an introduction to entrepreneurship the terms are used with reference to a large institution or an individual who starts & runs his or her new venture single-handedly.
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