Introduction

Entrepreneurship is a course where students learn how to build a business with the motive of earning a profit without forgetting the need to practice strategic values and actions to become more successful in future. While a the job scope of a manager is far more narrow, entrepreneurs can build a business by merely a small opportunity and be in the running to earn millions. This course provides an overview of essential entrepreneurial concepts in a broad and more diversified context. In this course as well, students will learn basic theories and ways to create a successful business using the concepts learned.

Edward Lazear

            An entrepreneur can also be further defined as an individual who, rather than working as an employee, runs a small business, and assumes all the risk and rewards forwarded from a given business venture, idea, or goods or services offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes. Entrepreneurs play a key role in any economy. These are people who have the skills and initiative necessary to take good new market ideas to market and make the right decisions to make the idea profitable. The reward for the risks taken is the potential economic profits the entrepreneur could earn. To become an entrepreneur, we must have the traits that are highly needed and applied to operate the business by the entrepreneurs. Some of the traits are networked, open risk taker, observant, visionary, failure is an option, open culture, outcome oriented, team oriented and proactive. ( Edward P. Lazear , 2005 )