The Concept of Entrepreneurship; in pursuit of a Universally Acceptable Definition

A journal article by Dr. Damary Sikalieh, a lecturer at the Chandaria School of Business in USIU-AfricaEntrepreneurship is a common vocabulary to many people, a topic occupying a prominent position on the research agenda of scholars from variety of backgrounds and disciplines; a subject that has elicited lots of interests from people of different occupations including scholars, educators and policy makers. The innovations and high value products getting into the market each day are results of entrepreneurial efforts, making entrepreneurship development a major strategy for sustainable socio-economic development. The purpose of this study was to find out a universal meaning/definition of entrepreneurship. The study was secondary, involving detailed analysis of published materials on the subject matter. According to the findings, entrepreneurship is the heart of the modern business, a force behind innovative businesses that characterize the modern economy and a dynamic process of creating incremental wealth by individuals who assume. The analysis, there are many definitions of entrepreneurship as there have many attempts to define it. However, entrepreneurship is action-oriented, involving immense creativity and innovativeness. Entrepreneurship can either be opportunity-based or necessity-based but whatever the motivation; it is pursued as a viable career option by people of all works of live, levels and occupations. It is also evident that there continues to be new thoughts on the subject and it is still an evolving concept with more room for study, discovery and development. Therefore, efforts towards a universally accepted definition should be encouraged. Entrepreneurship is an evolving concept ready for a variety of seeds from different disciplines hence efforts to refine it in meaning and application should be encouraged