Download as doc, pdf, txt or read online from scribd. The creation of a countrys wealth and dynamism depends upon the competitive ness of its firms and this, in turn, relies fundamentally on the capabilities of its en trepreneurs and managers. Concept, characteristics and implications for teacher education article pdf available march 2015 with 43,679 reads how we measure reads. Pdf the article provides a historic description of how the. The concept broken down is made up of an entrepreneur, a person, who commits to a process of action, known as entrepreneurship, which they then use to realize their goal or their enterprise.
A read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. So in this article, researchers provide various definitions of entrepreneurship, entrepreneurship and entrepreneurial activity background and theoretical basics of the issue entrepreneurship which has an important role in development and wealth creation is considered as a. Concepts and characteristics of entrepreneurship broadly speaking, entrepreneurship refers to a person working for himself or herself. First, it sees entrepreneurship as a distinctive approach to managing. The purpose of this study was to find out a universal meaningdefinition of entrepreneurship. The meaning of entrepreneurship entrepreneurship is defined as an activity that involves the discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organising, markets, processes and raw materials through organising efforts that previously had not. An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture. These solutions include services and products for profit or as a nonprofit initiative. And because this definition paints a picture of a selfish man, thus, the narrower concepts were developed, highlighting certain characteristics of entrepreneurship.
In todays times, social entrepreneurship is a revolution across the world. Risk bearing the acceptance of uncommonly high risk from the potential losses or failure of a business unit performance intention the intent to realise high levels of growth andor profit through a business unit. The essence of the modern firm lies in the specialization of functions. Social entrepreneurship meaning, definition, and concept. People from different walks of life are creating and implementing effective, innovative, and sustainable solutions to battle social and environmental challenges. Concept of entrepreneurship and entrepreneurs traits and. Despite the fact that defining entrepreneurship has occupied the scholars for years, yet there is lack of consensus on its exact meaning. The concept of entrepreneurship international journal of arts and.
In this way, the venture capital industry financially supports entrepreneurial activity for economic growth and governs and nurtures the growth of the smes. So, does stevensons definition of entrepreneurship matter, in practical terms. The concept of entrepreneurship was first established in the 1700s, and the meaning has evolved ever since. Pdf this chapter deals with the concept and theories of. Pdf the entrepreneurship concept a short introduction. The article provides a historic description of how the entrepreneurship concept has developed and now through political initiatives is closing in on higher education. Definitions of the concept and constructs of study in the field have depended on the researchers conceptualisation of what constitutes entrepreneurship and as a result there are variations in the study focus and measurement of entrepreneurship. This refers to those who undertake the risk of new enterprises. Entrepreneurship is a concept that has been around for hundreds of years and has experienced many evolution in its meaning. Due to the fact that there is no market for opportunities, the entrepreneur must exploit them, meaning that he or she must develop his or her capabilities to.
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