Entrepreneurship-Definition Definition No.

1: The word entrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise. (Source: Merriam-Webster Dictionary) Definition No.2: The concept of entrepreneurship has a wide range of meanings. On the one extreme an entrepreneur is a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population. On the other extreme of definitions, anyone who wants to work for himself or herself is considered to be an entrepreneur. (Source: http://www.quickmba.com/entre/definition/) Definition No.3: Entrepreneurship is more than simply starting a business. The definition of entrepreneurship is a process through which individuals identify opportunities, allocate resources, and create value. This creation of value is often through the identification of unmet needs or through the identification of opportunities for change. Entrepreneurs see problems as opportunities, then take action to identify the solutions to those problems and the customers who will pay to have those problems solved. (Source: http://www.gregwatson.com/entrepreneurship-definition) Definition No.4: Entrepreneurship is defined as the capacity and willingness to undertake conception, organization, and management of a productive venture with all attendant risks, while seeking profit as a reward. (Source: http://www.businessdictionary.com/definition/entrepreneurship.html#ixzz1n2BRvglb)

Definition No.5: In economics, entrepreneurship is regarded as a factor of production together with land, labor, natural resources, and capital. Entrepreneurial spirit is characterized by innovation and risktaking, and an essential component of a nation's ability to succeed in an ever changing and more competitive global marketplace. (Source: http://www.businessdictionary.com/definition/entrepreneurship.html#ixzz1n2BRvglb) Definition No.6: Corporate entrepreneurship refers to the process whereby the firms engage in diversification through internal development. Such diversification requires new resource combinations to extend the firm's activities in areas unrelated, or marginally related, to its current domain of competence and corresponding opportunity set. Corporate entrepreneurship is an organizational process for transforming individual ideas into collective actions through the management of uncertainties. (Source: http://www.answers.com/topic/entrepreneurship-1#ixzz1n30TCr00) Definition No 7: Entrepreneurship refers to qualities and actions of individuals that involve taking the risks of venturing in to new and unknown areas of work. It generally involves creating or setting up new enterprises that engage in kind of activities that are significantly different in some way from those of other enterprises around it. (Source: http://www.enotes.com/business/q-and-a/what-business-entrepreneurship-72887)

Qualities of Entrepreneur
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An Entrepreneur is an independent and creative person who is willing to take initiative to start a new business and take the responsibility of associated risks. He is a hard working, self directed individual who follows his ideas with high level of energy and Determination. He is a very flexible person and responds to criticism positively.
Entrepreneurs are disciplined and can hold them self accountable. He learns from his mistakes and dont make it twice. He is very optimistic and believes in himself.Entrepreneurs know the art of effectively communicating their ideas, through their speech, they motivate people to follow his ideas. They are good leaders and can lead a team to complete a common goal. Entrepreneurs like to be in control Entrepreneurs they love what they do.

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Responsible Hard Worker Risk Taker Creative Flexible Follows through with ideas Personable Optimistic Perceptive Self-confident Determined High degree of energy Innovative Independent Ability to anticipate needs Effective communicator Responsive to criticism Able to take the lead Learn from mistakes Self-directed