Define entrepreneurship. Its meaning seems to have clouded through the years. Is it a skill? A state of being? A cult? We’re seeing “entrepreneurship” taught in universities, used in contests for student entrepreneurs, even MTV was recently recruiting for a pilot based on Young Entrepreneurs.
Yet, entrepreneurship is not a culture unto itself. French economist Jean-Baptiste Say, coined the word as “one who undertakes an enterprise, especially a contractor, acting as intermediary between capital and labour.” In 1983, Howard Stevenson evolved the definition to “Entrepreneurship is the process by which individuals pursue opportunities without regard to the resources they currently control.”
Either way, entrepreneurship is inherently linked to risk, but then who is the enterpreneur in a start-up, the person with the idea or the person who funds the idea? It depends on who is taking the real risk. We’ve lost touch with the aspect of risk. It’s not enough to simply have an idea or be creative.
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