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The Concept of an Entrepreneurship

Let’s Improve Performance Appraisal Systems
October 29, 2020

The Concept of an Entrepreneurship


S o this is me with the soccer ball...we were on yet another overseas workshop and while walking along the streets of Madrid that particular evening back in 2013, I signaled my colleague to stop for a brief moment in an attempt to match my skills with perhaps one of Europe’s finest players. The calm lady looking on was a young entrepreneur making some good cash by displaying her impressive freestyle soccer skills to the public. Incidentally, my colleague immediately pulled out his cell began snapping photos of me (I’ve only posted the good one) so that I could look back later to have a good laugh at myself!

But back to the point; unknowing to most persons walking by, this was ‘Entrepreneurship' in motion and possibly the development of a successful business mind. What most self-made millionaires today have in common is that they all began working at building their empires early.

The term ‘Entrepreneur’ is a derived from the French word ‘Entreprendre’ which means 'To Undertake.’ An entrepreneur is one who undertakes to assume, organize and manage business risks. In particular, this term was used to identify any individual who started ventures that stimulated economic growth by offering better and new ways of doing things. However, in recent years, entrepreneurs have done so much more, prompting researchers to look for a broader definition of the term.

Today, an entrepreneur is a developer, an innovator who perceives and seizes opportunities and converts them into marketable and workable ideas; adds value to the ideas through skills, finance, effort and time; assumes prevailing marketplace risks to implement the ideas; and receives the rewards for all the effort. An entrepreneur is an important catalyst for change in business, an independent thinker who thinks different amid a backdrop of common events.

Needless to say at the end of my short soccer session both my colleague - Vinay and me donated handsomely into the basket strategically placed on the sidewalk. On that day the young lady we encountered saw a good return on her time and investment. As for me, I learnt my lesson and saw the true football skills of Europe and it rocks!

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