Definition of Entrepreneurship by Different Authors: According to Schumpeter ” Entrepreneurship is based on purposeful and systematic innovator. It included not only the independent business but also company directors and managers who actually carry out innovative functions”. Robert K. Lamb (1952) defined “Entrepreneurship is that form of social decision making performed by economic innovators.” Robert C. Ronstadt (1984) defined “Entrepreneurship is the dynamic process of creating incremental wealth.” According to A.H.Cole (1959) “Entrepreneurship is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate, maintain…
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