Who is an entrepreneur?
There are many views of who an entrepreneur is. The Chambers Universal Learners dictionary explains an entrepreneur as
“ a person who starts or organizes a business company especially involving risk”.
According to Drucker, the French economist J. B. Say defined an entrepreneur as
“a person who shifts economic resources out of area of lower and into an area of higher productivity and greater yield”,
Finally, Umo viewed an entrepreneur as “ the person who undertakes to fill gaps in a market by organizing production”. Classical economists views an entrepreneur as one who starts his own new and small business.
From these definitions above, it can be deduced that an entrepreneur is a business manager who may (or may not) start or won the business.
Also, the business may be new or small. They apply the principles of management in organizing the firm to create new products, different products; they change or transmute values, thereby creating new markets and new customers.
They take risk as anyone that engages in any kind of economic activities since the essence of economics activities is commitment of present resources to future expectations (which means uncertainty and risk).
Thank you
Augustus Zekaryah
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Other articles published by the author in this series at https://firstplus-ibs.com.ng that may be of interest are.
- What is entrepreneurship?
- Innovation
- The principle of innovation
- Consulting
- 8 things a consultant can do for you
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About the author- Augustus Zekaryah
Augustus is a management, banking and business computing professional with over 20 years of documented success in the field. Augustus is recognized for the application of software to solving business problems, Software Project Management, Enterprise Architecture Strategy, and Delivery of learning solutions with focus on adaptability, Development and execution of business plans, General management and administration, Operations management and Best practice development. Augustus founded and manages FirstPlus Integrated Business Solutions (http://firstplus-ibs.com.ng) as a Software and Business Consulting outfit that specializes in Software development and integration, E-Learning development, Business and Marketing Planning, Consulting and training.Augustus brings to his work a high level of energy, passion, commitment and humour. He is married with children.
