Entrepreneurship is derived from the word and business entrepreneurship. Wira means fighters, heroes, superior human beings, exemplary, virtuous, brave and noble character. Business is an act of charity, work, and do something.
So entrepreneurs are fighters or heroes who do something, organize, manage and dare to take risks to create new businesses and business opportunities. People who carry out entrepreneurial activities are called entrepreneurs.
The following is the definition and definition of entrepreneurship according to experts:
According to Arif F. Hadipranata, entrepreneurship is a risk taker who is needed to manage and manage business and receive financial or non-monetary benefits.
Kathleen argues that entrepreneurship is the person who regulates, runs, and carries the risks for the work he does in the business world.
Acmad Sanusi, 1994
Entrepreneurship is a value manifested in behavior that is used as a basis for resources, driving forces, goals, tactics, tips, processes, and business results.
Suharto Prawiro, 1997
Entrepreneurship is a value needed to start a business (start-up phase) and business development (venture growth).
Entrepreneurship according to Saidi and Hartati (2008), Entrepreneurship is the process of creating something new in value using research time and effort, bearing financial, physical, and social risks that accompany, receiving monetary rewards generated, as well as satisfaction and personal freedom.
Entrepreneurship is a person who is creative and innovative and able to make it happen to improve the well-being of society and the environment.
Also explained by Suryana (2008) that Entrepreneurship is a discipline that learns about the values, abilities, and behavior of a person in facing life’s challenges to obtain opportunities with various risks they may face.
Joseph Schumpeter (1934)
Entrepreneurs are innovators who implement changes in the market through new combinations. The new combination can be in the form of:
(1) introducing new or new quality products,
(2) introducing a new production method,
(3) opening new markets,
(4) Obtain new sources of supply from new materials or components, or
(5) running a new organization in an industry. Schumpeter relates entrepreneurship to the concept of innovation that is applied in the business context and relates it to a combination of resources.
Israel Kirzner (1979)
Entrepreneurs recognize and act on market opportunities. Entrepreneurship Center at Miami University of Ohio: Entrepreneurship as a process of identifying, developing, and bringing vision into life. This vision can be in the form of innovative ideas, opportunities, better ways of doing things.
Peter F. Drucker (1994) says that the concept of entrepreneurship is the ability to create something new and different. Entrepreneurship is the process of creating something different to produce value by devoting time and effort followed by the use of money, physical, risk and then producing services in the form of money and satisfaction and personal freedom.
Steinhoff and John F. Burgess (1993: 35) suggest that entrepreneurship is a person who organizes, manages and dares to take risks to create new businesses and business opportunities. Essentially the notion of entrepreneurship is a mental attitude, outlook, insight and mindset and pattern of one’s actions towards tasks that are their responsibility and are always customer-oriented.
Penrose (1963) entrepreneurial activities include identification of opportunities in the economic system while according to Harvey Leibenstein (1968, 1979) entrepreneurship includes activities needed to create or implement a company when all markets have not been established or clearly identified, or its production function components not yet fully known.
Richard Cantillon (1775), for example, defines entrepreneurship as self-employment. An entrepreneur buys the current item at a certain price and sells it in the future at an uncertain price. So this definition places more emphasis on how a person faces risk or uncertainty.
There are four subcategories to become entrepreneurs:
Inventor, defines concepts, unique, new, inventions or methodologies
Innovators, apply a new technology or methodology to solve new problems.
Marketers, identify needs in the market and fulfill them with new products or substitute products that are more efficient.
Opportunis, basically a broker, broker, which adjusts between needs with services provided and commissions.
The stages of entrepreneurship
In general, the stages of conducting entrepreneurship:
- Starting stage
The stage where someone who intends to do business prepares everything needed, begins by looking at possible new business opportunities whether opening a new business, making an acquisition, or ‘franchising’. This stage also chooses what type of business to do whether in agriculture, industry, or services.
- Stage of carrying out business
In this stage an entrepreneur manages various aspects related to his business, including aspects: financing, human resources, ownership, organization, leadership which includes how to take risks and make decisions, marketing, and evaluating.
- Stage of maintaining business
The stage where the entrepreneur is based on the results achieved has carried out an analysis of the progress achieved to be followed up in accordance with the conditions faced.
- Stage of developing a business
The stage where if the results obtained are classified as positive or experiencing development or can survive then the expansion of the business becomes one of the options that might be taken.
The definition of Entrepreneurship is taken from various sources, hopefully it can be useful for all colleagues, thank you.