Description

Meaning of Entrepreneurship, Entrepreneur, Enterprise

Entrepreneurship (PROCESS): Entrepreneurship is the process of identifying opportunities in the marketplace and arranging for resources to explain the identified opportunity to harness long-term gains.

Entrepreneur (PERSON): An entrepreneur is a person who is a catalytic agent in converting a situation into an opportunity and setting up a business in the process.

In the words of Peter F Drucker Entrepreneur is one who always searches for an opportunity.

Enterprise (OUTCOME): The outcome of the Entrepreneurship process is called Enterprise. It provides goods and services, creates jobs, contributes to national income, and exports, and also contributes to the overall economic development.