Women Entrepreneur
CHAPTER-1
INTRODUCTION
1.1 MEANING The classic definition of an Entrepreneur is “a person who organizes and manages a business undertaking, assuming the risk for the sake of the profit.” The word 'entrepreneur' is derived from the Old French word 'entreprendre' which was first used by the economic 'theorist' Richard Cantillon in 1755 in an essay where he used this term to describe a person who assumed the risk of buying goods in the belief that they could sell them at a higher price at a later time. So, the term in French was used to describe 'one who undertakes' this particular risk. An Entrepreneur can be anyone of any age who has an idea and builds a business around that idea to provide a product or service to as many people as need it. They see a need and fill it. They are passionate about their idea, product or service. They are visionaries. They tend to see opportunity where others don’t and this often leads them to take risks that most people wouldn’t. Entrepreneurs create wealth and opportunity, not merely for themselves but for everyone around them as well. Entrepreneurs are sometimes born but more often, they are made. In the word of Peter. P. Drucker : “Innovation is the specific tool of entrepreneurs, the means by which they exploit changes as an opportunity for different business or a different service” As per Joseph A. Schumpeter- “Entrepreneur is one who innovates, raises money, and assembles inputs, chooses managers and sets the commercial organization going with his ability to identify them and opportunities which others are not able to identify and is able to fulfill such economic opportunities”. Entrepreneurship and therefore "the entrepreneur", is at the core of what makes an enterprise succeeds, whether you call it an entrepreneurial firm, a small business, a family business, a home-based business, or a new business. So let us see- is setting up one’s business that simple and easy or is there more to it. In
INTRODUCTION
1.1 MEANING The classic definition of an Entrepreneur is “a person who organizes and manages a business undertaking, assuming the risk for the sake of the profit.” The word 'entrepreneur' is derived from the Old French word 'entreprendre' which was first used by the economic 'theorist' Richard Cantillon in 1755 in an essay where he used this term to describe a person who assumed the risk of buying goods in the belief that they could sell them at a higher price at a later time. So, the term in French was used to describe 'one who undertakes' this particular risk. An Entrepreneur can be anyone of any age who has an idea and builds a business around that idea to provide a product or service to as many people as need it. They see a need and fill it. They are passionate about their idea, product or service. They are visionaries. They tend to see opportunity where others don’t and this often leads them to take risks that most people wouldn’t. Entrepreneurs create wealth and opportunity, not merely for themselves but for everyone around them as well. Entrepreneurs are sometimes born but more often, they are made. In the word of Peter. P. Drucker : “Innovation is the specific tool of entrepreneurs, the means by which they exploit changes as an opportunity for different business or a different service” As per Joseph A. Schumpeter- “Entrepreneur is one who innovates, raises money, and assembles inputs, chooses managers and sets the commercial organization going with his ability to identify them and opportunities which others are not able to identify and is able to fulfill such economic opportunities”. Entrepreneurship and therefore "the entrepreneur", is at the core of what makes an enterprise succeeds, whether you call it an entrepreneurial firm, a small business, a family business, a home-based business, or a new business. So let us see- is setting up one’s business that simple and easy or is there more to it. In