ENTREPENURESHIP

Wajahat Shaheen
2009-Ag-808
MBA ( R ) Green
Assignment: Entrepreneurship
Topic:
Definitions of Entrepreneurship
Presented to: Mr.Asif Maqbool
University of Agriculture Faisalabad

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ENTREPRENEURSHIP

WIKIPEDIA:
One who undertakes innovations, finance and business acumen in an effort to transform
innovations into economic goods

According to Richard Cantillon:

An entrepreneur is a person who has possession of a new enterprise, venture or idea and
assumes significant accountability for the inherent risks and the outcome. The term is originally
a loanword from French.

SIMPLE DEFINATION:
The art or science of innovation and risk-taking for profit in business; the quality of being an
entrepreneur

CONCISE DEFINITIONS:
 Entrepreneur - someone who organizes a business venture and assumes the risk for it.
 Entrepreneur - a risk taker in the business world. Usually applied to a person who sets
up as a business owner using their own money or an obligation on borrowed money.
 Entrepreneur - Individual or group of individuals who take on the risk of starting a
venture.
 Entrepreneur - A person who engages in the process of entrepreneurship.
 Entrepreneur - An innovator of business enterprise who recognizes opportunities to
introduce a new product, a new process or an improved organization, and who raises
the necessary money, assembles the factors for production and organizes an operation
to exploit the opportunity.
 Entrepreneur - someone who is willing to assume the responsibility, risk and rewards of
starting and operating a business.

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Explanation:
This may result in new organizations or may be part of revitalizing mature organizations in
response to a perceived opportunity. The most obvious form of entrepreneurship is that of
starting new businesses (referred as Startup Company); however, in recent years, the term has
been extended to include social and political forms of entrepreneurial activity. When
entrepreneurship is describing activities within a firm or large organization it is referred to as
intra-preneurship and may include corporate venturing, when large entities spin-off
organizations.
Capacity and willingness to undertake conception, organization, and management of a
productive venture with all attendant risks, while seeking profit as a reward. In economics,
entrepreneurship is regarded as a factor of production together with land, labor, natural
resources, and capital. Entrepreneurial spirit is characterized by innovation and risk-taking, and
an essential component of a nation's ability to succeed in an ever changing and more
competitive global marketplace.

What Is Business Entrepreneurship?

There are many interpretations and definitions of entrepreneurship.
According to intellectuals and business experts, the definition of entrepreneurship is simply the
combining of ideas, hard work, and adjustment to the changing business market. It also entails
meeting market demands, management.
Most importantly, it describes the key directive of any business - innovation.
Innovation is by far the primary factor that governs the very creation of a small business or
entrepreneurship. Innovations can be processes or even products.
One example of a process could be the creation of ideas through the written word. Products can
refer to anything that is created that can be sold, whether it is a new type of glue or even a
service that provides; for example, housecleaning.

Examples of Businesses Started by College Entrepreneurs

 Aquarium service
 Coffee shop
 College marketing, promotions, and consulting firm
 Computer retailer
 Computer sales and repairs
 Driftwood art furniture and accessory company

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 Software Company
 Greeting card Company
 Landscaping company
 Manufacturing and retailing gardening accessories
 Mobile aircraft detailing service
 Motivational speaking company
 Music business
 Online investment newsletter
 PDA communications computer consulting
 Real-estate developer
 Residential and commercial painting company
 Retail clothing store
 Sign manufacturer
 Summer storage service for college students
 Web hosting company
 Web sites where students can list and exchange textbooks
 Web/graphic design
 Workout facility/gym

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