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Entrepreneur

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Topic updated on 02/12/2019 12:12pm

There is a wide range of definitions of “entrepreneurs”.

Examples:

 “An entrepreneur is one who organizes, manages and assumes the risks of a business or enterprise”

The Merrian Webster Dictionary
 “An entrepreneurs is the person who destroys the existing economic orders by introducing new products and services by creating new forms of organization or by exploring new row materials”

Joseph Schumpeter
Some reasons for being an entrepreneur are given below

• Tending to self creations

Example: • Creation of new products and services
• Parents and family members are engaged in business fields and other family members following it too.
• Social and economic background suitable for the entrepreneurs

Example: • Social background valued by the entrepreneurs

• Government incentives

By the experiences received from employment

Activities done as a hobby have been converted to a business

Example:
• Raring of wet pets
• Education and practice gained about various professions and other fields
• As a result of finding the solution to social problems
Example:
• Producing compost to reduce garbage.
• Presenting solution to the menace of flies and mosquitos.
• Construction of hearth of different types as a solution to the fuel crisis.

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