Introduction

• Entrepreneur

  • derived from the French verb enterprendre, which

  means to undertake.

  • This refers to those who undertake the risk of new

  enterprises
• Enterprise

  • created by an entrepreneur and the process of its creation is called entrepreneurship
• Entrepreneurship

  • a process of actions of an entrepreneur who is always in search of something new to exploit new ideas into gainful opportunities by accepting the risk and uncertainty of the enterprise.
• Entrepreneurs

  • innovators, willing to take risks and generate new ideas to create unique and potentially profitable solutions to modern-day problems.
• Entrepreneurship

  • not so much a skill as a habitual state of mind. When entrepreneurship describes activities within a firm or large organization, it is referred to as intrapreneurship. This may include corporate venturing when large entities spin off organizations.
  • employs what Schumpeter called the "gale of creative destruction” to replace wholly or partly inferior innovations across markets and industries This destruction simultaneously creates new products and new business models.
• Entrepreneurial activities can be incremental or disruptive. Incremental innovations are a number of small changes that transform process flows while disruptive innovations are entirely new approaches.