Entrepreneurship Process and Principles
Entrepreneurship process and principles
Chapter: Introduction to Entrepreneurship process and principles
Definition of entrepreneur
-According to American Heritage Dictionary, “Entrepreneur is a person who organizes, operates and assumes the risk for business venture”
-According to Skinner SJ and Ivancevich JM,” An entrepreneur is a person who takes the risks necessary to organize and manage a business and receives the financial profits and monetary rewards”
-Entrepreneur is a person who organizes and assumes the risk of his or her own venture”.
Meaning and definition of Entrepreneurship
-According to R.M.Hodgehs,-‘Entrepreneurship is the process of organizing, managing and assuming the risk of a business.”
Entrepreneurship is the capacity for innovation, investment, and expansion in new markets, products and techniques.
So entrepreneurship is considered as the act of assuming the risk and task of an entrepreneur, so it is the act of starting a business.
Definition of Intrapreneurship
- The term intrapreneurship refers to entrepreneurial activities that receive organizational sanction and resource commitments for the purpose of innovative results.
Definition of Intrapreneur
-According to Griffin, “Intrapreneur is an extrepreneurial person employed by a corporation and encouraged to be innovative and creative, a person with entrepreneurial characteristics who is employed within a large corporation, moreover, intrapreneurs are usually found in enterprises that encourage experimentation, tolerate failure, recognize success and share the wealth.
Differences between Entrepreneuer and Intrapreneur.
The basic differences are:
Difference Entrepreneur Intrapreneur
1.Dependency An entrepreneur is independent in his operations But an intrapreneur is dependent on the entrepreneur i.e., the owner.
2.Raisingof funds An entrepreneur himself raises funds required for the enterprise. Funds are not raised by the entrepreneur only operate it.
3.Risk Entrepreneur
Chapter: Introduction to Entrepreneurship process and principles
Definition of entrepreneur
-According to American Heritage Dictionary, “Entrepreneur is a person who organizes, operates and assumes the risk for business venture”
-According to Skinner SJ and Ivancevich JM,” An entrepreneur is a person who takes the risks necessary to organize and manage a business and receives the financial profits and monetary rewards”
-Entrepreneur is a person who organizes and assumes the risk of his or her own venture”.
Meaning and definition of Entrepreneurship
-According to R.M.Hodgehs,-‘Entrepreneurship is the process of organizing, managing and assuming the risk of a business.”
Entrepreneurship is the capacity for innovation, investment, and expansion in new markets, products and techniques.
So entrepreneurship is considered as the act of assuming the risk and task of an entrepreneur, so it is the act of starting a business.
Definition of Intrapreneurship
- The term intrapreneurship refers to entrepreneurial activities that receive organizational sanction and resource commitments for the purpose of innovative results.
Definition of Intrapreneur
-According to Griffin, “Intrapreneur is an extrepreneurial person employed by a corporation and encouraged to be innovative and creative, a person with entrepreneurial characteristics who is employed within a large corporation, moreover, intrapreneurs are usually found in enterprises that encourage experimentation, tolerate failure, recognize success and share the wealth.
Differences between Entrepreneuer and Intrapreneur.
The basic differences are:
Difference Entrepreneur Intrapreneur
1.Dependency An entrepreneur is independent in his operations But an intrapreneur is dependent on the entrepreneur i.e., the owner.
2.Raisingof funds An entrepreneur himself raises funds required for the enterprise. Funds are not raised by the entrepreneur only operate it.
3.Risk Entrepreneur
Bibliography: Class lectures