Sunday, June 12, 2011

What is enterpreneurship?

"A person who exercises the functions of  i) initiating, co-ordinating, controlling of instituting of major changes in business enterprise and/or ii) bearing those risk its operation which arise from the dynamic nature of society and imperfect knowledge of the future and which can not be converted into certain cost through transfer, calculation or elimination, is an enterpreneur." 
- Dictionary of Social Science.
"A person who assumes the risk of bringing together the means of production, including capital, labor and materials as well as receives his reward in profit from the market value of his product, is an entrepreneur"
- Encyclopedia Britannica.
"An agent who buys the factors of production including, land, labor and capital at a certain price and produces goods or services and sells it at an uncertain price, is an entrepreneur."
- Richard Cantillon
"Enterpreneur is a specilized group of personalities, who bear uncertainty."
- Knight
"He who borrows land, labor and capital together and produces a product with the combination of these three and who has moral qualities, perceiverence and much knowledge about business, and command over sufficient capital, and who has the mentality of earning an uncertain profit, is an enterpreneur."
- M.G.A.Shahneel
Source: Here
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