Entrepreneurship

Entrepreneurship it was originally meant to designate an organized of musical or other entertainments. In economics; an entrepreneur is an economic leader who possesses the ability to recognize opportunities for successful introduction of new commodities, new techniques, and new sources of supply, and to assemble the necessary plant and equipment, management, and labor force and organize them into a running concern. Whatever be the form of economic and political set-up of the country, entrepreneurship is essential for economics development. In a socialist state, the state is the entrepreneur. So is the case in underdevelopment countries where private entrepreneurship is shy in undertaking the risks associated with new ventures. But in advanced capitalist’s societies, private entrepreneurs have played the crucial role in economic development...