The Concept of Entrepreneurship; in pursuit of a Universally Acceptable Definition
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Date
2012-11
Authors
Mokaya, Samuel O.
Namusonge, M.
Sikalieh, Damary
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Arts and Commerce
Abstract
Entrepreneurship is a common vocabulary to many people, a topic occupying a prominent position on the research agenda of scholars from variety of backgrounds and disciplines; a subject that has elicited lots of interests from people of different occupations including scholars, educators and policy makers. The innovations and high value products getting into the market each day are results of entrepreneurial efforts,
making entrepreneurship development a major strateg
y for sustainable socio-economic development. The
purpose of this study was to find out a universal m
eaning/definition of entrepreneurship. The study wa
s
secondary, involving detailed analysis of published
materials on the subject matter. According to the
findings, entrepreneurship is the heart of the mode
rn business, a force behind innovative businesses t
hat
characterize the modern economy and a dynamic proce
ss of creating incremental wealth by individuals wh
o
assume. The analysis, there are many definitions of
entrepreneurship as there have many attempts to de
fine
it. However, entrepreneurship is action-oriented, i
nvolving immense creativity and innovativeness.
Entrepreneurship can either be opportunity-based or
necessity-based but whatever the motivation; it is
pursued as a viable career option by people of all
works of live, levels and occupations. It is also e
vident
that there continues to be new thoughts on the subj
ect and it is still an evolving concept with more r
oom for
study, discovery and development. Therefore, effort
s towards a universally accepted definition should
be
encouraged. Entrepreneurship is an evolving concept
ready for a variety of seeds from different discip
lines
hence efforts to refine it in meaning and applicati
on should be encouraged.
Description
Keywords
Entreprendre, Entrepreneurship, entrepreneur, creativity, innovation, risk-taking, creative destruction
Citation
International Journal of Arts and Commerce Vol. 1 No. 6 November 2012