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Entrepreneurship: Home

Objective: Entrepreneurship is an important component in the process of economic development. The purpose of this course is to analyse the theories of entrepreneurship and to go for case studies of successful entrepreneurs.


Entrepreneurship is the process of designing, launching and running a new business, i.e. a startup company offering a product, process or service. It has been defined as the "...capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit." The entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.  Rather than working as an employee, [an entrepreneur] runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.  Entrepreneurs perceive new business opportunities and they often exhibit positive biases in their perception (i.e., a bias towards finding new possibilities and unmet market needs) and a pro-risk-taking attitude that makes them more likely to exploit the opportunity. Entrepreneurial spirit is characterized by innovation and risk-taking.


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Muhammad Arif Raza
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Riphah International University
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