The Concept of an Entrepreneur

Many authors have different conceptions about entrepreneur. For an instance, Richard Cantillon, an Irish-French economist believed that entrepreneur is someone who instigates a transformation. He is the mastermind of all sorts of buy and sell activities in business. Cantillon stated that the entrepreneur is the one who purchases a raw material at a known price in order to sell it at an unknown price. (Kaur and Bains, 2013)
Another concept of entrepreneur came from a man who is an entrepreneur himself and came from a family of entrepreneurs, Jean-Baptiste Say. He said that entrepreneurs have the characteristics of being an innovator. He explained that entrepreneur is the one who could do new things, who can turn something useless to functional, and a person who can do original and exemplary things. Joseph Alois Schumpeter, somehow agree with this concept of Say about entrepreneur. He even say that Say is the first person who made a clear concept and definition of an entrepreneur. Schumpeter pointed out that entrepreneurs are the experts of innovation. Although he aligned his concept of entrepreneur with Say’s concept, he, however, postulated that “the essence of entrepreneur lies in the perception and exploitation of new opportunities” (Filion, 2008). Schumpeter also said that entrepreneurs are the people that the economy needs in order to be revitalized. Schumpeter made the concept of entrepreneur more complex and complete.
It is very hard to define and go beyond the definition of entrepreneur. But with the help of some concepts and definition from the other sources and authors, we can therefore conclude that entrepreneurs are the one who has the ability to conceive original ideas and implement them. They were innovators and at the same time risk takers. Entrepreneurs are dreamers and thinkers who do and they are the doers who get results. They always put their ideas and words into actions.
Entrepreneur is the person who engages in a set of activities that he designed himself. But those activities were not just ordinary activities for these activities are recognized as the activities that help the entrepreneurs to create something out of entrepreneurial opportunities. In general, entrepreneurs are instigators, implementers and developers of their own ideas in order to make profit using limited number of resources that they can use. “Their motivation is to innovate or introduce something new while minimizing the risk.” (Filion, 2008) Upon reading and understanding the different definitions and concepts of entrepreneurs, other comprehensive and easy to understand definitions were derived below.

1. Entrepreneur is an innovative performing artist who distinguishes entrepreneurial activities, creates dangerous decisions that are often characterized as innovated, and acts in order to convert his vision into reality.

2. Entrepreneur is an instinctive and tireless performer who often make unsafe decisions that usually helps him to make innovative things. He also have the ability to transform something useless to something fresh, unique and original.

3.Entrepreneur is a person who is creative and resourceful. He uses these abilities of him to create new things out of his risky decisions. His ideas are implemented in order to contribute things that are very useful in the field of business.


References:
  • Kaur, H and Bains, A. (2013). Understanding the concept of entrepreneurship. Journal of Business Management & Social Sciences Research (JBMSSR), 2(11), 31-33. doi: 2319-5614. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.403.3169&rep=rep1&type=pdf
  • Filion, L.J. (2008). Defining the entrepreneur: Complexity and multi-dimensional systems, some  refections. Montreal, Canada: HEC Montreal. 


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