Entrepreneurship does not emerge spontaneously –
Entrepreneurship does not appear instinctively. Rather it is the result of an energetic procedure of interaction between the person and the environment. The term entrepreneur, first of all, appeared in the French Language. In the early 16th century, it was applied to a person engaged in a military expedition. To was extended to cover the construction and civil engineering activities in the 17th century. It was the only in the 18th century that the word was used to refer to economic activities. Richard Cantillon, a French banker applied the word entrepreneur to mean a person who bears uncertainty and risk.
Economic development essentially means a process of upward change. It can be defined as a process of an upward change. It can define a process whereby the real per capita income of the country increases over a long period of time. Concept Entrepreneurship is the tendency of a person to organize the business of his own and it runs a profitable, using the quality of leadership, decisions making and managerial calibre etc. The term entrepreneurship is often used interchangeably with entrepreneurship. But conceptually they are different.
In a way entrepreneur precedes entrepreneurship. Entrepreneurship is an abstraction and entrepreneurs are a tangible person. Well designed and controlled research studies on entrepreneurship are very few. Entrepreneurship is an abstraction and entrepreneurs are tangible persons. Well Designed and controlled research studies on entrepreneurship are very few. Entrepreneurship is a role played by or the task performed byte entrepreneur. The central task of the entrepreneur is to take the moderate risk and invest the money to earn a profit by the exploiting an opportunity. For this he must posse’s farsightedness to perceive an opportunity so that he can exploit it well in time. Entrepreneurship can be defined as the propensity of mind to take a calculated risk with confidence to achieve a predetermined business or industrial objectives.
The word ‘entrepreneurship’ typically means to undertake. Recently in the west, the entrepreneurship is mainly an attribute of an efficient manager. But the success achieved by entrepreneurs in developing countries demolishes the contention that an entrepreneur is a rare animal and an elusive character. Incidentally, entrepreneurship has engaged the attention of sociologist, psychologists and economist. Sociologist analysis the characteristics of entrepreneurs in terms of caste, family, social status etc. Psychologists analysis the attribute on the basis of their personality, traits such a need of achievement, affiliation and power, risk taking, decision making, creativity and leadership etc. the economist analyses them on the bases of occupational background, access to capital, business to technical experience.