Ridha Fathima

The word entrepreneur has its origin in the French word entreprendre made

up of two words entre and prendre. Entre implies ‘between,’ and prendre

means, ‘to take’. The combination of the two French terms translates into an

entrepreneur who takes on the risk of a new venture.

So, an entrepreneur means a person or group of persons who are willing to

take the risk of a new venture. An entrepreneur is her/his own boss and

therefore self-employed and independent. She/he assumes the risk of the new

venture and adds value to society.

Entrepreneurs are different from investors and managers. An entrepreneur not

only brings in the idea and passion for the enterprise but also arranges funding

for the venture. An investor, on the other hand, mainly invests money in the

venture. Also, an entrepreneur has a more positive outlook towards the venture

in comparison to investors who are wary of their invested funds

2.2 DEFINITION OF ENTREPRENEUR

Peter F. Drucker in his book, Innovative Entrepreneurs, says, “Entrepreneurs

as innovators. Entrepreneurs search for change and exploit opportunities.”

According to Drucker, “Innovation is the specific tool of entrepreneurs, the

means by which they exploit changes as an opportunity for a different business

or a different service. It is capable of being presented as a discipline, capable

of being learned, capable of being practiced. Entrepreneurs need to search

purposefully for the sources of innovation, the changes and their symptoms

that indicate opportunities for successful innovation. And they need to know

and to apply the principles of successful innovation.