What is an entrepreneur?
The businessman or entrepreneur is a person who holds the strategic control over an economic enterprise, making decisions related to setting production targets, establish the most appropriate means to achieve these aims and organize the administration.
(Remember there are more entrepreneur definition you will find when search for the term, but all those definition of entrepreneur meaning are same as I already mentioned above.) Lets take a deep insight then I will get the real idea about what is entrepreneurship and you will give us a definition of entrepreneur in the form of your speech.
Not every entrepreneur is an entrepreneur (define if you are), as the former may have inherited or purchased a business or be a senior employee in charge of administration. The notion of entrepreneur is more associated with the idea of taking a risk, while the employer is related more to the decision making process.
Origin of the term: Entrepreneur Definition
The word comes from the French medieval times, where it was designated “entrepeneur” the individual that will utilize the factors of production (the work of the servants, materials and resources feudal lord or king) and take the risk to build buildings or arms.
Forms of entrepreneurship vary throughout history, as they are giving economic transformation processes. During the initial stages of the industrial age, the employer was the founder and owner of the company, assuming all risks of production. Subsequently, economic accumulation allowed several entrepreneurs hold joint control of a company or an owner hires a contractor to run your business. In addition, economic globalization has led to the emergence of international companies managed in many cases by major shareholders of the same.
The concept of ‘entrepreneur’ in the News
It is called so today, more specifically to the person making binding decisions on the production of goods or services by an enterprise for sale in the market and the consequent profit manner. The employer may also (but not necessarily) be the owner of the company and the owner of capital, and the charge to take the risks of innovation and investment.
What makes an entrepreneur?
The employer may consist either of a natural person as a legal subject, and can carry out their work both individually and collectively. The concept of entrepreneur is directly linked to the company: an entrepreneur acts as a personification of the company, not only wield his legal representation but because in many cases their own and for being common that the company takes its name.
The activity of an entrepreneur occurs both inside and outside the company, understood as an economic unit. Inside, it is responsible for the administrative organization of the joint between capital and labor to meet production targets and to establish what type of resource management and staff are the most convenient. Outside, it is responsible for establishing relationships with other companies, to link up with other organizations and institutions (such as the State) and acting as spokesman for the company to society.
Classification of entrepreneurs
One can distinguish three kinds of entrepreneurs, depending on how they relate to the operations of the company. The sole proprietor is the self-employed without employees in charge (or very few), which concentrates power company, usually small. The key partner is the employer who takes active when making business decisions, when the rest of the partners provides the capital role. The member of a group entrepreneur is less autonomous and more responsible for providing support and financial and management consulting (which usually happens in companies with many shareholders).
The businessman orentrepreneur is a person who holds the strategic control over aneconomic enterprise, making decisions related to setting productiontargets, establish the most appropriate means to achieve these aims andorganize the administration.
Now the time to comment below, and let us know if you have anything to say about “entrepreneur definition”, surely we will glad to hear from you.
Any question on Entrepreneur Definition? Please just comment or contact us.