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28445639 Chapter 1 Entrepreneur

28445639 Chapter 1 Entrepreneur

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Published by: PRIYANK on Apr 02, 2011
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11/08/2012

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CHAPTER 1ENTREPRENEUR
THE ULTIMATE MEASURE OF A MANIS NOT WHERE HE STANDSIN MOMENTS OF COMFORT AND CONVENIENCEBUT WHERE HE STANDSAT TIMES OF CHALLENGE AND CONTROVERSY.
- Martin Luther King.The words entrepreneur, intrapreneur and entrepreneurship have acquired specialsignificance in the context of economic growth in a rapidly changing socio-economic and socio-cultural climates, particularly in industry, both in developedand developing countries. Entrepreneurial development is a complex phenomenon.Productive activity undertaken by him and constant endeavor to sustain andimprove it are the outward expression of this process of development of hispersonality.
INTRODUCTION 
The word 'entrepreneur' is derived from the Old French word 'entreprendre' whichwas first used by the economic 'theorist' Richard Cantillon in 1755 in an essaywhere he used this term to describe a person who assumed the risk of buying goods in the belief that they could sell them at a higher price at a later time. So,the term in French was used to describe 'one who undertakes' this particular risk.Journalists have also been quick to place that tag on many of the colourful corporate high flyers who have made incredible wealth in the world of business,
 
many at the expense of others and sometimes, if not outside their country'sgoverning laws, then quite possibly outside their moral ones. I believe that entrepreneurs and these business people are two different species who operate inthe same sphere, but do so with a completely different mindset.
Also Known As:
Often used as a synonym for a business person.
Common Misspellings:
Entrpreneur, Entraprenur, Entreprenuer.
WHO IS AN ENTREPRENEUR?
Entrepreneur Is A Person Who Brings In Change Through Innovation For TheMaximum Social Good.An entrepreneur is a person with a dream, originality and daring, who acts as theboss, who decides as to how the commercial organization shall run, who co-ordinates all activities or other factors of production, who anticipates the futuretrend of demand and prices of products.An entrepreneur is one of the important segments of economic growth. Basicallyhe is a person responsible for setting up a business or an enterprise. Infact, he isone who has the initiative, skill for innovation and who looks for highachievements. He is a catalytic agent of change and works for the good of people.He puts up new green-field projects that create wealth, open up many employment opportunities and leads to the growth of other sectors.The entrepreneur displays courage to take risk of putting his money into an idea,courage to face the competition and courage to take a leap into unknown futureand create new enterprises/ business. This creative process is the life blood of thestrong enterprise that leads to the growth and contributes to the national development.
 
The entrepreneur will always work towards the creation and enhancement of entrepreneurial society. The best entrepreneur in any developing country is not theone who uses much capital but an individual who knows how to organize theemployment and training of his employees.A classic example is that of Mr. Dhirubhai Ambani because he had all the dynamicqualities of a successful entrepreneur, as a result of which today, he was the owner of the largest private company in India. All decisions which he had taken to growwere instinct and no one had taught him to take decisions.We can define entrepreneur as one who innovates, raises money, assembles inputs,choose managers and sets the organization going with his ability to identify them.
MEANING 
An entrepreneur is an individual who accepts financial risks and undertakesnew financial ventures. The word derives from the French "entre" (to enter)and "prendre" (to take), and in a general sense applies to any personstarting a new project or trying a new opportunity
An
entrepreneur 
is a person who has possession of anewenterprise,ventureor ideaand assumes significant accountability for  the inherent risks and the outcome.
Entrepreneur inEnglishis a term applied to the type of personality who iswilling to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome.
The word entrepreneur is often synonymous with founder.
Someone who assumes the financial risk of the initiation, operation and management of a business

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