Unravelling the true meaning of Entrepreneurship

By J. Aditya, Asst.Professor of WSB

There is a common misconception that business ownership is equivalent to Entrepreneurship. This is conventional wisdom. For instance, a man launching a fast food restaurant is certainly holding a stake and taking a certain amount of risk. But is he creating a new consumer demand or fulfilling the unmet needs of a consumer? It is apparent that he is relying on the popularity of eating out. Therefore, there are pertinent questions to be addressed in order to evaluate whether one is an Entrepreneur. Let us name an imaginary business owner as Adam and assess whether he is an entrepreneur through the following questions :

Read More