In the previous article, I highlighted on the principal idea behind entrepreneurship. In particular, we looked at what entrepreneurship ia all about having looked at some key words which is often associated with entrepreneurship. Having defined what entrepreneurship is, who is an entrepreneur? And what are the characteristic features if an entrepreneur.

An entrepreneur is a person (man or woman) who efficiently and effectively combines resources (4 factors of production) and who seeks through the harnessing of these resources, to solve problems in the society. Another point about an entrepreneur is that he is often the person who takes full responsibility for the outcome of his venture. So the entrepreneur is someone who identifies opportunities and who believes in the opportunities discovered so strongly that he or she is prepared to undertake the task (business) of finding the resources to create solutions for the problems and who is solely responsible for the success or failure of the assignment.

Entrepreneurs often have a strong belief about a market opportunity and organises their resources effectively to accomplish an outcome that changes existing interactions. This is the fundamental premise on which entrepreneurship is built. From this point, entrepreneurs create value by offering products or services which helps alleviate problems.