Entrepreneurship is derived from the French
It is the process of forming a new
loanword entrepreneur, which comes from a
verb meaning to undertake. Understanding
entrepreneurship necessitates an equal
understanding of the qualities of an
entrepreneur, provided that the two concepts
condition each other. However, there is no
consensus on how should be defined despite
the considerable attention it has received from
various perspectives.
1. Definitions of entrepreneurship from
various authors (Misra & Kumar, 2000 as
cited in Rusu et al., 2012)
a. It is an activity dedicated to initiation,
maintenance, and development of a
profit-oriented business (Cole, 1968).
b. It is an innovation that presupposes the
endowment of the existing resources
with the capacity of producing wealth
(Drucker, 1985).
c. It is the creation of new organizations
(Gartner, 1985).
d. It is the process of creating something
different, with value, by allotting the
necessary time and effort, presupposing
the taking of financial, social, and
physical risks, and obtaining monetary
rewards and personal satisfaction
(Hisrich & Peters, 1989).
e. It is following an opportunity
irrespective of the existing resources
(Stevenson et al., 1989).
f. It is a process of discovery and a process
of acting on an opportunity of lack of
balance (Kaish & Gilad, 1991).
g. It is a set of behaviors that initiate and
manage the re-allotment of economic
resources and whose purpose is the
creation of value by these means
(Herron & Robinson, 1993).
h. It is the discovery of opportunities and
the subsequent creation of new
economic activity, often via the creation
of a new organization (Reynolds, 2005
as cited in Cuervo et al., 2008).
i.
organization or restructuring an
organization, which has already been in
existence (Rusu et al., 2012).
2. The modifier entrepreneurial
Entrepreneurial, when taken as a
modifier, may mean two things. First, it is
the taking of financial risks in the hope of
profit or simply enterprising. Second, it is
associated to someone who looks into
opportunities and takes risks. Hence,
entrepreneurial is central to the concepts
entrepreneurship and entrepreneur.
True enough, entrepreneurship can be
understood in the titles entrepreneurial
factor, entrepreneurial function,
entrepreneurial behavior, entrepreneurial
initiative, and entrepreneurial spirit (Cuervo
et al., 2008).
Entrepreneurial factor is referred to as a
new factor concerning production that must
be explained through remuneration of
income for the entrepreneur alongside the
shortage of people with entrepreneurial
capabilities.
The discovery and exploitation of
opportunities, simply the creation of
enterprise, is the entrepreneurial function.
Entrepreneurial behavior is marked with
the qualities of being innovative, risk-taker,
and proactive.
However, entrepreneurial initiative
involves the act of innovating and risk-
taking.
Entrepreneurial spirit, moreover, is
concerned with the exploration, search, and
innovation of business opportunities.
3. Definitions of entrepreneur from various
authors (Misra & Kumar, 2000 as cited in
Rusu et al., 2012)
a. A person who makes new combinations
causing discontinuity. The realization of
new combinations may include a new
 product or a quality of a product, a new
method of production, finding a new
source of raw materials or
reorganization of the industry
(Schumpeter, 1934).
b. A person who buys at a price that is
certain and sells at a price that is
uncertain (Hoselitz, 1960).
c. An entrepreneur is a person who owns
all the necessary resources to produce
and launch on the market a product,
which responds to a market deficiency
(Leibenstein, 1968).
d. A person who perceives the existence of
profit opportunities and initiates some
actions to complete the unsatisfactory
current needs (Kirzner, 1985).
e. A person who perceives an opportunity
and creates an organization to follow it
(Bygrave and Hofer, 1991).
3.1. Characteristics of an entrepreneur
(Karlsson, Friis, & Paulsson, 2004 as cited
in Rusu et al., 2012)
a. Agent of change
b. Carrier of uncertainties
c. Innovator
d. Resources distributor
3.2. Entrepreneurs vis-à-vis managers and
capitalists (Cuervo et al., 2008)
An entrepreneur discovers and exploits
opportunities, and initiates and motivates
the process of change. A capitalist is a
capital owner: a controlling or a passive
shareholder. A manager administrates
and manages resources. Furthermore, an
entrepreneur accepts risks as opposed to
capitalists and managers who exhibit
aversion to risk-taking.
4. English language teaching enterprise
English is instrumental to global
discourse, particularly in the field of
business. Hence, English language teaching
has received considerable attention across
countries where the language is used in
second or foreign language contexts.
I envision to start up a small enterprise
that specializes in creating materials, both
in print and in digital form, about teaching
English as a second language and foreign
language based on bodies of research both
in The digital form will be made available
through an online journal managed by me
and my colleagues.
Taking risks and exploring new
opportunities, the enterprise will have
created international linkages. This means
that our journal will be indexed in
recognized international journals dealing
with the discipline, and scholarly
collaborations with international authors
are plausible.
Synergizing the approach to English
language teaching in the country, the
enterprise will have been able to provide
the needs of the Department of Education
and other private institutions for seminar
workshops and trainings at that. The
enterprise is credible and trusted enough
because of its pedagogically-informed
studies from premiere academicians in the
country and contact with some of the
international scholars in the field.
References
Cuervo, Á., Ribeiro, D., Roig, S. (2008).
Entrepreneurship: Concepts, theory,
and perspectives. Retrieved from
http://www.uv.es/bcjauveg/docs/Libr
oCuervoRibeiroRoigIntroduction.pdf
Ruso, S., Isac, F., Cureteanu, R., & Csorba, L.
(2012). Entrepreneurship and
entrepreneur: A review of literature
concepts. African Journal of Business
Management, 6(10), 3570-3575).
Retrieved from
http://www.academicjournals.org/AJB
M