ENTREPRENEURSHIP

  INTRODUCTION TO ENTREPRENEURSHIP 1. DEFINITION OF ENTREPRENEUR The word “entrepreneur” is derived from the French word “entreprendre” which means ‘to undertake or to try’ and was used by Richard Cantillon in 1775. An entrepreneur is an individual who organizes, manages and assumes the risks of a business (Kuratko & Hodgetts, 2001). In French, the term entrepreneur refers to a person who undertakes and operates a new enterprise or venture and assumes accountability for the inherent risks. An entrepreneur is an individual who creates a new business in the face of uncertainty for the purpose of achieving profit and growth by identifying and capitalizing opportunities and assembling the necessary resources to capitalize on the identified opportunities (Zimmerer, Scarborough & Wilson, 2008). Also refers to an individual who establishes a business and manages it to obtain profit and to be successful (Carland, 1984). The word “entrepreneur” was introduced in year 1970 after the ...