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The More Popular Definition That Is Thought Of By Society When This Word Is ...

The more popular definition that is thought of by society when this word is mentioned, is of a person who wants to work for themselves. The origin of entrepreneur is French, based on the word ‘entreprendre, which means ‘to undertake'.
Entrepreneurship represents the practice of beginning new companies, and or organizations as usually represented by a new business as a result of new opportunities that have, or are presenting themselves. Such naturally entails elements of risk. The equation of risk in entrepreneurship is represented by the specter of failure, which can be a result of a multitude of business, supply, sales, market condition, financing, timing, competitive, new innovations, cost, locale, and other problems that are all interweaved to result in a complex series of risks that must be examined, explored, decided upon, and dealt with correctly to minimize failure, which does not necessarily translate into success. Stevenson (1983), as previously referred to, describes entrepreneurship represents the pursuit of opportunity beyond the resources you currently control, which he further amplifies with Gumpert (Stevenson and Gumpert, 1985, pp. 85-94) that entrepreneurship represents both the individual as well as the society that he or she is embedded in as he or she identifies an opportunity they desire to pursue and as an entrepreneur they thus must seek the resources from the broader society.
Given all of the research, and studies devoted to entrepreneurship no universal theory has been generated, as various disciplines have their own unique way of viewing entrepreneurship which remains relatively unaffected by the perspectives of other disciplines (Gartner, 2001). All of the foregoing have been engaged in as a part of the purpose of this study, which is to equate attitudes toward risk and entrepreneurship. The three critical words that comprise this examination have extremely broad interpretations as well as context that are dependant upon when, and how they are used. For Drucker (1985, p. 28) entrepreneurship is about risk. But his view does not take the skew of said risk being negative or positive, but rather that risk is inherent with the concept as it, risk, is inherent with business in general, simply that entrepreneurial risk is a different form. Thus, the attitudes concerning risk and entrepreneurship are individual and dependant upon the prevailing social circle, or societal views that can take on any the differing contextual concepts of any of the words in arriving at a mental conceptualization of what these words mean in combination. He describes entrepreneurship as ‘risky' mainly because so few of the so-called entrepreneurs know what they are doing (Drucker, 1985, p. 29). And continues that they lack the methodology (and) violate elementary and well known rules (Drucker, 1985, p. 29).


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