Importance And Importance Of Entrepreneur

Entrepreneurs use innovation to exploit or create change, such innovation provides opportunity for making profit. They do this by shifting economic resources from an area of lower productivity into an area of higher productivity and greater yield, accepting a high degree of risk and uncertainty in doing so. (Burn, 2011)

Entrepreneurship is the action of taking the initiative to build up, organize and manage a business with the intend to attain profits overcoming the difficulties. The risk carried by the entrepreneurs willing to take advantage and take risk of the market opportunity and find better ways of the present processes to take out the new ventures. The task of the entrepreneur is to effectively and proficiently use the land, labor and capital to take out the business activities, according to the economical definition. Individuals get freedom provided by the entrepreneurship to take their own decision and the capability to plan and manage according to their own wishes but the procedure of doing business is not that simple.

An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. According to Martin (2010) an entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. To have self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. For example, When an almost bankrupt security company was offered to her, Datuk Maznah Hamid and her

Entrepreneurs are hard working, innovative people who enjoy taking risks. They accept their failures and work back up to success. When they fall hard to the ground, they rise back up to the top with another new invention. There are countless of thriving entrepreneurs in the world today. Two of the most well known entrepreneurs are Thomas Edison and Steve Jobs.

According to our book Boon and Kurtz contemporary Business an entrepreneur is defined as “someone who is a risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.” While this definition is adequate for describing the general idea that is an entrepreneur there is a deeper defining characteristics of these barons of business.

Entrepreneurship involves entrepreneurial skills to develop, organize and manage a business venture by focussing on opportunities along with any of its risks in order to make a profit. Entrepreneurship is also an approach to management that can be applied in start-up situations as well as within established businesses. (Business Management: a contemporary compilation)

An entrepreneur is “a person who organizes and manages a business with considerable initiative and risk”. In other definitions an entrepreneur “identifies an opportunity or a gap in a market and evaluates the risk related to the establishment of the business and is prepared to take the associated risk to start the business in the quest for making profit; and has the ability to obtain the resources to establish and grow a business”. Entrepreneurship exceedingly relies on entrepreneurs to start-up, develop and produce companies across the use of their

An entrepreneur is a person who creates new business, taking risks in accomplishing the objectives which they intend to make profits and growth by recognising vital opportunities (Burdus, 2010). They are individuals who innovate, recognise business opportunities, gather and co-ordinate new blends of resources {i.e. production functions) in other to extract the most profits from their innovations in an uncertain environment (Rapheal Amit, 1993) Entrepreneurs are private business owners. They are self-starters and optimistic

It is known that, in the context of the creation for profit-enterprises, entrepreneur is often synonymous with founders. An entrepreneur will face many obstacles, challenges and difficulties in business operation. To be successful, a good entrepreneur will need have some extraordinary abilities. So what is an entrepreneur? The entrepreneur, with his dream and will to found a private kingdom, to conquer adversity, to achieve success for its own sake, and to experience the job of creation, is a heroic figure in economic development. ( Nafziger, Wayne, 1986) A broader definition by say "The entrepreneur shifts economic resources out of lower and into higher productivity and greater yield." ( J.

Entrepreneurship can be defined in many ways, as one man called Merriam-Webster said that “one who organizes, manages and assumes the risks of a business or enterprise. “An Entrepreneur can also define as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk” this definition is recommended by Forbes. In the following report entrepreneurs will be uncovered and dissected also in this report it will also focus on one of the famous entrepreneurs ever to be witnessed Michael dell the founder and current CEO of Dell Incorporation. It will also be discussed in the following report that how do entrepreneurs impact our economy and also it will be discussed the entrepreneurs in South Africa and many more.

            An entrepreneur is a person who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods and who accepts the risks associated with them. (Schaper, Michael.2002) He can be anyone who identifies an opportunity in a market and has a belief that it would succeed in the economy and on that belief he starts exploiting the opportunity. They may create a new organization or may be a part of an existing organization where they revitalize the organization in response to their perceived opportunity. Generally, the word entrepreneur is used to denote a person who starts a

Entrepreneur: An entrepreneur is a person who starts an enterprise. He searches for change and responds to it. A number of definitions have been given of an entrepreneur- The economists view him as a fourth factor of production along with land labour and capital.

Entrepreneurship is an essential part of economic development, and it has been so especially since the industrial revolution. Development is achieved for example through innovation, which the Organisation for Economic Co-operation and Development (OECD, 2005) defines as the ‘implementation of a new or significantly improved product (good or service), or process, a new marketing method or a new organisational method in business practices, workplace organisation or external relations’. Innovative performance is an essential part when determining competitiveness and progress on a societal level. The following chapters will focus solely on innovative and opportunity entrepreneurs, as necessity entrepreneurs and entrepreneurs that imitate others contribute little to none towards economic development.

More than ever before, entrepreneurship is trending. If you log onto any social media platform, you can't scroll for long before running into a small business owner's advertisement for their latest product or service. While there are many people who are starting small businesses, most of them won't experience exponential growth. According to statistics, eight out of ten small businesses fail within the first 18 months. Being an entrepreneur isn't an easy feat and requires a lot of personal mindset development. In order to become a better entrepreneur, take a look at gurus like Shark Tank's Kevin Harrington. He has experienced and seen a lot within his career that showed him the keys to great entrepreneurship. Consider these quotes whenever you feel a pang of discouragement.

What happened in the last decade has made entrepreneurship and even innovation that become an integral part of its, important in countries. When the states began to transfer production to the private sector in the market conditions, private sector tended to be more entrepreneurial. When the increase of knowledge production, distribution and use supported this, entrepreneurship began to come to the fore.