What does Entrepreneur Means

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The word entrepreneur is derived from the French word “Entreprendre”, which is loosely translated to English as, to mean, to do something or to undertake. Therefore, entrepreneur defined as someone who undertakes a business venture. The first academic to use the word was the economist Richard Cantillon in 1730; Cantillon adds a risk taker element into the definition. The basic definition of an entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk (dictionary.com, 2014). However, Scholars did not come up with a single definition for the word entrepreneur. Dan Martin argues on his online blog about the definition of the word entrepreneur as follows; an entrepreneur is a person who sees an opportunity which others do not fully recognise, to meet unsatisfied demand or to improve the performance of the existing business (Martin, 2010).

The economist Joseph Schumpeter argues that, an entrepreneur is a person who demolishes the existing economic order by bringing in novel products and services, by making new forms of organization, or by exploiting new raw materials (D. Bygrave & Zacharakis, 2010). The economist Jean Baptiste say, used the term Entrepreneur to refer to an individual who create value in an economy by moving resources from areas of low productivity into areas with higher yield and (Dees, 1998).

3. What is it that makes the entrepreneur? And who is an entrepreneur?

John Stanworth, Celia Stanworth, Bill Granger and Stephanie Blyth, tried to define who becomes an entrepreneur from a psychological point of view. In their argument, they grouped the motivation to be an entrepreneur into different psychological groups. In the psychological mo...

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...e.co.uk/: http://www.businesszone.co.uk/blogs/dan-martin/dan-martin-editor039s-blog/what-entrepreneur-brilliant-definition

McGlade, A. (2013, 1 14). The Making of an Entrepreneur. Retrieved from http://www.forbes.com: http://www.forbes.com/sites/alanmcglade/2013/01/14/the-making-of-an-entrepreneur/

Sanworth, J., Stanworth, C., Granger, B., & Blyth, S. (1989). Who Becomes an Entrepreneur? International Small Business Journal, 11.

The Economist. (2009, March 12). The United States of Entrepreneurs. Retrieved from http://www.economist.com: http://www.economist.com/node/13216037

Thornberry, N. E. (2002). Corporate entrepreneurship: teaching managers to be entrepreneurs. Journal of Managment Development, 330-336.

Treanor, S. (2013, july 13). Are entrepreneurs born or can they be taught? Retrieved from http://www.bbc.co.uk: http://www.bbc.co.uk/news/business-23157638

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