In the last decade and a half there has been a resurgence of entrepreneurship in higher education. This revival is not from the traditional discipline of economic but from the discipline of business management. The business schools have instituted new courses in entrepreneurship.
While entrepreneur is a person who sets up a business, `Entrepreneurship` is considered as the process or action of setting up of the new venture and the venture so set-up is called the `enterprise`. Entrepreneurship has been considered as the propensity of mind to take a calculated risk with confidence to achieve a predetermined business objective. It is the risk taking ability of an individual coupled with the correct decision-making. Schumpeter described it a process and the entrepreneur as innovators who use the process to shatter the status quo through the combination of resources and new methods of commerce.
While entrepreneur is a person who sets up a business, `Entrepreneurship` is considered as the process or action of setting up of the new venture and the venture so set-up is called the `enterprise`. Entrepreneurship has been considered as the propensity of mind to take a calculated risk with confidence to achieve a predetermined business objective. It is the risk taking ability of an individual coupled with the correct decision-making. Schumpeter described it a process and the entrepreneur as innovators who use the process to shatter the status quo through the combination of resources and new methods of commerce.
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