Definition of entrepreneur and entrepreneurship

Entrepreneur is someone who exercises initiatives by organising a venture to take benefit of an opportunity .

Entrepreneurship:the capacity and willingness to develop,organise and manage a business venture.Traditionally,the term entrepreneur refers to a person who has a business idea and is willing to take a risk to implement it.

The entrepreneurial life cycle repeats itself in businesses of all sizes ,from start-ups in a garage to corporate entrepreneurship activities in global fortune.it starts with an entrepreneur who perceives an opportunity,creat an organisation to pursue it,assembles required resources, implement a practical plan,assumes the risks and rewards,all in a timely manner for all involved.

Entrepreneurs are directly involved in the dynamic,and very complex interrelationships between financial management and business strategy

This is the significant difference that sets entrepreneurial management apart from all business management practices.
In almost all cases, the person making the decisions has personal risk at stake. the worst case scenario for folks"work" is getting fired.the worst case for entrepreneurs is losing their home, personal credit, and lifestyle,as well as the destruction of family relationships

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