What is the meaning of term entrepreneurship, Business Management

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What is the meaning of term Entrepreneurship?

Meaning of Entrepreneurship:

Entrepreneurship refers to a process of action an entrepreneur undertakes to establish his enterprise. It is a creative and innovative response to the environment. In other words entrepreneurship can be defined as an ability to discover, create or invent opportunities and exploit them to the benefit of the society, which in turn brings prosperity to the innovator and his organization.

Concept of Entrepreneurship:

Concept of entrepreneurship can be demonstrated with the help of given diagram:

2431_Concept of Entrepreneurship.png


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