Define Entrepreneur I

In the field of business, the people involved in the playoffs are called the entrepreneurs. They are also referred to as businessmen. They own and run their own businesses. In the strictest sense, the definition of what a real entrepreneur is varies.

The only certain thing is that, entrepreneurs are very much involved in today’s American business arena. Tracing history back, it is said that the term entrepreneur has been conceivably recognized as an adamant part of the economic world only in the mid 1970s. The concept has then started to evolve with various meanings depending on the understanding of the society that gives meaning to it.

In an online dictionary as defined by the Webster’s Revised Unabridged Dictionary, in the year 1913, entrepreneur has been defined as the person who makes some products for his own benefit or account. This gives about the idea that the term has successfully evolved way back in the year 1913. Now such definition may quite be blurry.

How can a person be called an entrepreneur when he does nothing with that product aside form creating it? What term will be labeled to a person who takes other people’s products and make a success out of them? Will they be not branded as entrepreneurs too? According to Merriam-Webster dictionary, an entrepreneur is someone who organizes, who manages, and who assumes the risks posed by the business or enterprise world. Now this definition of an entrepreneur is richer in content compared with the first one. Risks—these are literally faced by entrepreneurs as they pursue with any type of investment in the market.