The concept of Entrepreneurship has been illustrated in a diversified ways by different scholars from the different parts of the global arena.
According to Schumpeter (1965). Entrepreneurs are individuals who exploit market opportunities through technical or organizational innovations. In accordance to the views of Hisrich 1990, Entrepreneurship is characterized by the demonstration of entrepreneurship and the ability to organize social and economic mechanisms for resource generation. Bolton and Thompson (2000) have defined Entrepreneurship as the deployment of creativity and innovation to build up something of recognized value around perceived opportunities.
The Management Guru Peter Drucker opines that entrepreneurial role in one of mobilizing and deploying resources. To differentiate the roles of an entrepreneur with that of a manager, he specified that in an entrepreneurial role the resources should be allocated to opportunities, whereas in managerial role the mobilized resources are allocated to solve the problems. Peter Drucker further states that an entrepreneur always makes an attempt to diagnose appropriate socio-economic changes and judiciously exploits those changes as an opportunity. Peter Drucker has also affirmed that after diagnosis of a resource, increasing its value and consumer satisfaction of a resource is and entrepreneurial activity.
