Everything you need to know about the concept of entrepreneurship. The word entrepreneur is borrowed from the French language. It is derived from 'entreprendre' meaning to 'undertake'. Thus, entrepreneur is an 'undertaker' in the literal sense of the word. Its usage in French language can be traced much before the emergence of activities generally associated with entrepreneurs today. Entrepreneurship is [...]
Everything you need to know about the difference between entrepreneur and intrapreneur. The term 'entrepreneur' needs to be differentiated from the word 'intrapreneur'. An intrapreneur perceives and exploits business opportunities within an existing enterprise. He generally serves as the chief executive of a semi-autonomous product division or subsidiary. Big companies encourage their key executives having good ideas to work like [...]
Everything you need to know about the steps involved in the entrepreneurial process. Entrepreneurship is the pursuit of market opportunities to produce innovative goods and services. Once the enterprise gets established, the entrepreneurial process becomes effectively a recurring progress of opportunities. It becomes the process of allocating scarce resources judiciously to pursue the value-adding opportunities. The steps involved in the [...]