Defining entrepreneurship : operational considerations

Abstract

The phenomenon of entrepreneurship is intertwined with a complex set of overlapping constructs and perspectives. Consequently, entrepreneurship literature is cluttered with a large number of definitions that emphasise the multifaceted nature of the phenomenon. The various definitions to entrepreneurship emphasise a wide range of activities such as creation, founding, managing and adapting a venture. This paper evaluates previously constructed definitions to identify four main approaches of entrepreneurship conceptualization. The suggested four approaches have been “evolved” through the analysis of historic development of the entrepreneurship phenomenon. Each of these approaches provides valuable insight into policy-making and educational programmes by targeting at different entrepreneurial realities.