An integrated view of entrepreneurship

Abstract

The terms 'entrepreneur' and 'entrepreneurship' have generated considerable debate in recent years. However, there is considerable conceptual confusion about these terms which helps neither entrepreneurial research nor the programmes for entrepreneurial development. The paper seeks to clarify this confusion of concepts by examining the historical evolution of the term and the changes in its conceptual meaning. Based on this analysis the author presents a schema for understanding the process of entrepreneurship. The author concludes that although entrepreneurship must remain confined to the economic sphere it cannot be comprehended without reference to factors other than the economic alone.