Who Exactly is an Entrepreneur
I am pretty certain that you must have come across the term 'Entreprneur' many times. But have any of you have actually wondered what does an entrepreneur exactly means? I am sure not many of you know the true definition of an entrepreneur. For the common man, entrepreneur is a person who starts his own business. Though it is not wrong but there is more to it. So let us take a closer look and go in depth and understand the true meaning of an entrepreneur.
Definitions Of An Entrepreneur:
- The Oxford English Dictionary defines entrepreneur as " One who undertakes an enterprise, especially a contractor acting as intermediary between capital and labour."
- According to Richard Cantillon, an entrepreneur is " the agent who buys means of production at certain prices in order to combine them into a product that he is going to sell at prices that are uncertain at the moment at which he commits himself to his costs."
What Does An Entrepreneur Does:
Basically entrepreneur not only create wealth for himself but also for his country and people. The entrepreneur setup factories and provides employment to the people. Government is also benefited by means of taxes and development of the rural areas. A country's progress hugely depends on its entrepreneur. Imagine India without the likes of amazing and highly successful entrepreneurs like Dhirubhai Ambani, Ratan Tata, BIrlas etc.
Without their presence, India would not have reached the place it is now. Combined together, these individuals give employment to thousands and lakhs of people. Our economy would cripple if any of the individual were to close and shut down their business.
An entrepreneur always venture into the unknown. He is risk taking and sees opportunities where no one else can. An entreprneur has the ability to turm a risky business into a profitable one. He acts as a communicator between the product and the market. He creates products that makes life of the consumer easy.
Finally, an entrepreneur is a person who not only start a new businessbut creates wealth for people and self. Also, not everyine can be an entrepreneur and there are certain important entrepreneurial qualities required.
You may also want to read "Qualities Of an Entrepreneur" to see if you have the entrepreneurship qualities natural in you.
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