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Interscience Management Review

Abstract

An Entrepreneur is and individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes Today’s entrepreneur, a person, who has initiative in investment and decision to the enterprise; seeking all resource of factor of production, resources of Management, Behavior, cultural, Economical and Political factor for establishing, innovation and founded enterprise, having assumption of risk, profit and future growth. Entrepreneurship has rightly been identified with the individual, as success of enterprise depends upon imagination, vision, innovativeness and risk taking. The production is possible due to the cooperation of the various factors of production, popularly known as land, labour, capital, market management and of course entrepreneurship. Basic objective in developing entrepreneurship and multiplying them in the society has been to enable the society to generate productive human resource, mobilize and sustain the same in subsequent process of development. The government at the national and state level in India has been keen on promoting entrepreneurship. A well designed value chain is necessary for and enterprise to reap the benefits of market advantage and this should be modified to suit the demands of modern enterprise.

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