What Is The Definition of Entrepreneurship?


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Entrepreneurship

 

Definition of Entrepreneurship-

Musscleman & Jackson

“Entrepreneurship is the investing and risking of time , money & efforts to start a business & make it successful.”

              Entrepreneurship may be defined in many ways, but the four key elements involved in it are;

  1. Innovation
  2. Risk taking
  3. Vision
  4. Organizing skill.

All the four elements are inter-related & form a continuous process in business . Entrepreneurial  vision encompasses the relentless persuit for operational excellence, innovative technology & being responsive to the needs of the market place.

 

Risk-taking        Innovation

Vision                                     Operational excellence

Organizing skill

(Key element of entrepreneur)

 

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