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Definitions and Different Concepts of Entrepreneurship

Entrepreneurship is an employment choice enabled by the ability to consistently identify, and co-ordinate scarce resources to develop opportunity (Dr Beem Beeka)

Entrepreneurship is a process where an individual sees opportunity (possibilities) and has the ability to cope with issues, resistance and intricacies inherent when operating outside established practice (Joseph Schumpeter)

Involves idea origination and execution, sufficient research, time, determination and communicating with teams and external ‘stakeholders like the banks, investors, and corporate partners respectively’[1]

A process by which individuals - either on their own or within organizations - pursue opportunities without regard to the resources they currently control[2]

Entrepreneurship is a way of thinking; a way of thinking that emphasizes opportunities over threats ( Krueger et al. (2000, p. 411)

Entrepreneurship is the subject of enterprise and entrepreneurs, encompassing both the practical and academic knowledge, skills and techniques used in being an entrepreneur (David Rae)

Intrapreneurship

An intrapreneur behaves like an entrepreneur while employed by an organisation they did not start, found or own.

Intrapreneurship is corporate entrepreneurship within existing organisations. Thus, intrapreneurs are often professional and technical individuals, who take initiative, identify ideas, and develop profitable opportunities[3].

Intrapreneurship describes the practice of entrepreneurial attributes within large companies or bureaucratic institutions (Gibb, 1987)

intrapreneurship is corporate entrepreneurship within existing organisations (Deakins, 1996

Public Sector Entrepreneurship

A public sector entrepreneur works toward enabling public policy for greater economic prosperity.

A public sector entrepreneur recognises that effective entrepreneurial activity creates market efficiency, and hence seeks to enable policies that facilitate market efficiency[4].

Social Entrepreneurship

A social entrepreneur combines visionary or pragmatic leadership, innovation, systemic utilises entrepreneurial techniques to deliver social, cultural and environmental solutions.

Social entrepreneurship involves identifying opportunities with social value, often exploited through the creation of organisations with a social purpose[5]

Associative entrepreneurship

is entrepreneurial activity based on mutual values and division of labour between individuals within a group or community (Cato et al., 2008)

Political Entrepreneurship

A political entrepreneur founds a political group or engages in a political party. This person’s political career seeks to create and enable policies that benefit the masses (social benefit).

Technological entrepreneurship

is the process where independent entrepreneurs and corporations create new ventures towards exploiting technological opportunities (Zahra and Hayton, 2004)

Youth entrepreneurship

the practical application of enterprising qualities, such as initiative, innovation, creativity, and risk-taking into the work environment (either in self-employment or employment in small start-up firms), using the appropriate skills necessary for success in that environment and culture (Chigunta, 2002b, p. v).

Entrepreneur

The entrepreneur (whether or not he in fact also doubles as a manager) has a different function. It is his job to locate new ideas and to put them into effect. He must lead, perhaps even inspire; he cannot allow things to get into a rut and for him today's practice is never good enough for tomorrow. In short, he is the Schumpeterian innovator and more. He is the individual who exercises what in the business literature is called ‘Leadership’ (Baumol, 1968)

Nascent entrepreneur

when one or more persons invest time and resources into founding independent start-ups they are called nascent entrepreneurs, Wagner, 2004

Latent entrepreneurs

Those wanting to become self-employed without taking action (Blanchflower et al., 2001)

Self-employed

Individuals who perform some work for profit or family gain, in cash or in kind. Included in this category are employers, own account workers and persons in production of goods/services and household consumption. Similarly, self-employment refers to working for oneself rather than being paid wages, which includes companies that employ others (Scott Shane, 2003

[1] Kuratko, 2009

[2] Stevenson and Jarillo, 1990

[3] Deakins, 1996; Menzel et al., 2007

[4] Inger Boyett, "The public sector entrepreneur ‐ a definition", International Journal of Public Sector Management, 9 (2), 36 - 51

[5] Haugh, 2005

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