The entrepreneur is an individual who introduces something new in the economy- a new production method, a new product, a new source of raw material, a new market etc.Â Â Â Â Â Â Â -(Joseph Schumpeter,1934) An entrepreneur is the one who always searches for change, responds to it and exploits it as an opportunity. Innovation is a specific tool by which he exploits change as an opportunity, for a business or service. Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â – Peter Drucker (innovation and Entrepreneurship, 1986) A true entrepreneur is the one who is endowed with more than average capacity in the task of organizing and coordinating the various other factors of production.
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Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â – (Francis Walker, 1897) The literature review is diverged in two- Starters and Acquires. “There will come a time when big opportunities will be presented to you, and you’ve got to be in a position to take advantage of them.” – Sam Walton, founder of Wal-Mart Inc. “Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage.” – Niccolo Machiavelli “The entrepreneur is our visionary, the creator in each of us. We’re born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is developed, nurtured, and given space to flourish or is squelched, thwarted, without air or stimulation, and dies.” – Michael Gerber The economist J. B. Say from French will shift the resources of economy out of the lower area and will send to the higher productive area with a greater yield. The definition is not revealing about the entrepreneur. And it has been created 200 years back, there has been a confusion about the definitions on entrepreneurship and entrepreneur. According to the United States, entrepreneur is the person who owns a small business. By these entrepreneur or the entrepreneurship will be represented by a small business.
Startup companies can be anything which can include a simple company. Startup company is that which looks forward for the growth, and the companies that are technology oriented. People who plan to invest in the newer companies are identified by the profile, scalability, and the risks involved. This means that these involve the low level bootstrapping costs, risk in a high level, and a high potential return. Startup that are successful will need less investment for parameters like capital,
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