The word "entrepreneur" is a loanword from French. Baumol et all (1985) said that theentrepreneurship term is a loanword from French and was first defined by the Irish economistRichard Cantillon (1730). In French the verb "entreprendre" means "to undertake," with "entre"
coming from the Latin word meaning "between," and "prendre” means "to take." In French a
person who performs a verb, has the ending of the verb changed to "eur," comparable to the "er"ending in English.Sullivan and Scheffrin (2003) state, that an entrepreneur is a person who has possession of anenterprise, or venture, and assumes significant accountability for the inherent risks and theoutcome. It is an ambitious leader who combines land, labor, and capital to create and marketnew goods or services. Entrepreneur in English is a term applied to the type of personality who iswilling to take upon herself or himself a new venture or enterprise and accepts full responsibilityfor the outcome. Jean-Baptiste Say (1800), a French economist, believed to be coined the wordEntrepreneur first in about at 1800. He said an entrepreneur is "one who undertakes anenterprise, especially a contractor, acting as intermediatory between capital and labor".Osterwalder (2004) proposed business model ontology to understand the way the actor does thebusiness in transferring the value to the customer. On the other side, Kolshorn and Tomecko(1998) develop the model called by Competency based Economies through Formation of Entrepreneur (CEFE).The research question is, can the entrepreneurship model be deployed to the model ontology,similar to the business model?
The Business Model Ontology is a proposition in a design science approach. March and Smith (1995)define that design science is an attempt to create things that serve human purposes, as opposed to naturaland social sciences, which try to understand reality (Au 2001). March and Smith outline a design scienceframework with two category first research outputs cover constructs, models, methods and instantiationsand second research activities comprise building, evaluating, theorizing on and justifying artifacts. Thisrefers to the construction of theories that explain how or why something happens. Such research appliesnatural science methods to artifacts (
). Then, given a generalization or theory we must
thatexplanation. Evidence has to be gathered to test the theory in question. Justification for artifacts generallyfollows the natural science methodologies governing data collection and analysis.
The term ontology has its origin in philosophy and denotes the philosophical discipline that dealswith the nature and the organization of reality (Guarino and Giaretta 1995). Gruber's (1993)define ontology as an explicit specification of a conceptualization.
A model is a set of propositions or statements expressing relationships among constructs. In designactivities, models represent situations as problem and solution statements. A method is a set of steps (analgorithm or guideline) used to perform a task. Methods are based on a set of underlying constructs(language) and a representation (model) of the solution space. An instantiation is the realization of anartifact in its environment. Instantiations operationalize constructs, models and methods.