A Basic Understanding of Entrepreneurship Looking to understand
the definition of entrepreneurship can be difficult. This
difficulty lies in the way in which the definition of
entrepreneurship is used. The information on this page is here
to help eliminate that difficulty. The idea of entrepreneurship
has a broad range of meaning. On the one side of the discussion
an entrepreneur is an individual of incredibly high aptitude who
invokes change, possessing traits observed in only a minuscule
portion of the population. On the other extreme of the
definition, anyone who desires to work for himself or herself is
considered to be an entrepreneur. The word entrepreneur
originates from the French word, entreprendre, which implies “to
undertake.” In a business context, it means to begin a business.
The Merriam-Webster Dictionary presents the description of an
entrepreneur as one who organizes, manages, and assumes the
risks of a business or enterprise. Schumpeter’s Opinion of
Entrepreneurship Austrian economist Joseph