The term entrepreneur refers to individuals who are in favour to make their potential careers running businesses themselves rather than getting hired at another company or organisation.
Entrepreneur is a representative who buys factor of production at certain prices to develop it into a product to sell it at uncertain prices in the future. Thus entrepreneurs are risk bearer of the organization.
Uncertainty in prices is a risk that cannot be insured against and is incalculable.
Entrepreneurs as an Innovator utilizes inventions and discoveries to make a new product or services.
An entrepreneur needs to have an enormous self-belief in his abilities and faith in the practicability of his business idea.
Isha Chaubey BBA V M(A) TIAS, New Delhi India
