Entrepreneurship

Entrepreneurship

Entrepreneurship is a process of identifying and starting a business venture, sourcing and organizing the required resources and taking risks associated with the venture.

Entrepreneurship has been defined in several ways and is considered as :

·               A theory of evolution of economic activities

·               A continuous process of economic development

·               An ingredient to economic development

·               Essentially a creative activity or an innovative function

·               A risk taking factor which is responsible for an end result

·               Usually understood with reference to individual business

·               Name given to the factor of production which performs the functions of an enterprise

·               Creates awareness among people about economic activity

·               Generates self-employment and additional employment.