Entrepreneurship

First used in 1723, the term entrepreneur implies qualities of leadership, initiative and innovation in business. Robert Reich has called team building, leadership and management ability is essential for the entrepreneurs. Richard Cantillon and Adam Smith found out that entrepreneur is one of the factor in microeconomics. In the 20^th century. Entrepreneurship was studied by Joseph Schumpeter in the 1930s but the term entrepreneurship was coined around 1920 itself. Initially, Richard Cantillon (1680-1734) considered the entrepreneur to be a risk taker who deliberately allocates resources to exploit oppurtunities in order to maximize the financial return.

In recent years, entrepreneurship has been extended from its origins in business to include social and political activity. Entrepreneurship within an existing firm of large organization has been referred to as intrapreneurship and may include corporate ventures where large entities spin off subsidiary organizations. Meanwhile, entrepreneurs are leaders who willing to take risk and extra initiative to make something successful, taking advantage of market oppurtunities by planning, organizing and employing resources often by innovating new or improving existing products. More recently, the term entrepreneurship has been extended to include as a specific mindset resulting in entrepreneurial initiatives for an example in the form of social entrepreneurship, political entrepreneurship and knowledge entrepreneurship.

From the beginning till now, there are a lot of entrepreneurs which has been successful in the career such as Bill Gates, Oprah Winfrey, Thomas Edison, Mark Zuckerberg, Steve Jobs, Laksmi Mital and many more. This entrepreneurs has many experiences and challenges in their life. Not only that, they had many entrepreneurial traits which make them more quality and stable in their business field. It makes their products make people,s life very easier with the advancement of technology. For an example, handphone. It make people to contact each other anywhere and anytime with a low cost.