Meaning:
The word entrepreneur derived from the France word “entreprendra” which means to undertake, to pursue opportunities to fulfill needs and wants through innovation to undertake business.
There are few definition of entrepreneur:
“Entrepreneur is a person who organizes operates and assumes the risk for business venture”.
- America Heritage dictionary
“Entrepreneur is the agent who purchased the means of production for combination into marketable product”.
- Richard Cotillion
Characteristics of an Entrepreneur:
An entrepreneur is a person who initiates a business venture. There are some essential features of an entrepreneur which are describe below.
1) Risk taking capability: Every business involves risk. So an entrepreneur must have the risk taking capability, he must be having risk bearing capacity.
2) Creativity and innovation: Of caurse an entrepreneur has an initiator possesses creativity and innovative power. His mind should be innovative and creative so that he can create such an idea to chnage the world.
3) Need for achievement: The entrepreneur has strong desire to achieve the goal of business. He should be motivated to achieve his goals. He is always driven by the needs for achievement.
4) Need for autonomy: An entrepreneur does not like to be under anybody. It is the need for autonomy which drives a person to be an entrepreneur.
5) Internal locus of control: An entrepreneur believes in him his work.
6) External locus of control: he also believes in fate for ultimate result.
7) Self confident: An entrepreneur has confidence in him.
8) Leadership capability: An entrepreneur must have leadership capability to lead workers under him so that he can guide them to the right direction.
An entrepreneur is a person who initiates a business venture. There are some essential features of an entrepreneur which are describe below.
1) Risk taking capability: Every business involves risk. So an entrepreneur must have the risk taking capability, he must be having risk bearing capacity.
2) Creativity and innovation: Of caurse an entrepreneur has an initiator possesses creativity and innovative power. His mind should be innovative and creative so that he can create such an idea to chnage the world.
3) Need for achievement: The entrepreneur has strong desire to achieve the goal of business. He should be motivated to achieve his goals. He is always driven by the needs for achievement.
4) Need for autonomy: An entrepreneur does not like to be under anybody. It is the need for autonomy which drives a person to be an entrepreneur.
5) Internal locus of control: An entrepreneur believes in him his work.
6) External locus of control: he also believes in fate for ultimate result.
7) Self confident: An entrepreneur has confidence in him.
8) Leadership capability: An entrepreneur must have leadership capability to lead workers under him so that he can guide them to the right direction.
9) Decision making capability: The entrepreneur has capability to take quick decision in any kind of environment and pressure.
10) Adaptability: He has the capacity to adapt with any kind of situation that arise in the enterprise.
11) Foresightness: The entrepreneurs have a good foresight to know about future business environment.
12) Others: The other feature are dynamism, ambition, education and training, long term involvement, future orientation.