Question

what is entrepreneurship? Explain the perspective of schumpeter on entrepreneurship.

Answer 1

here is your answer.... .. ......... .

Answer 2

Entrepreneurship:

An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or proce

Schumpeter Theory on Brief:

“Schumpeter emphasized the role of the innovator-be-, the innovator, the developer, the promoter, the person who initiatives and recognizes technical improvements and who succeeds in getting them introduced” (Samuelson, 1980). The inventor in business terms is the entrepreneur whose function is entrepreneurship, which is the spring of all business innovations and improvements, and the main source economic development (Samuelson, 1980). Thus, the sequence of economic development is entrepreneur entrepreneurship innovations business and economic development. Innovate or perish is the ‘Schumpeter’s ideology. The reward for entrepreneurship is profit.