An entrepreneur is who plans, organizes and operates a business and takes the risks involved in the business. He is considered as an individual who is energetic and has a passion to achieve the best out of him. An entrepreneur looks at any provided opportunities and exploits them to his advantage. He aims at ensuring a positive conduct and a maximization of profits in investments made. (Fauchart and Gruber, 2011:16).
A successful entrepreneur is characterized by high managerial skills and the ability to urge for team building among members. The behavior that emerges in the field of entrepreneur is influenced by the social and economic factors. The traits of an entrepreneur are also shaped by the influences in the environment. The behaviors of an entrepreneur will determine the success as well as failure in the entrepreneurial process.
An Enterprise is considered an economic organization which ensures that it is responsible in the process of production, distribution and purchasing the goods and services to the consumers. It is simply a type of organization or an institution which can be a business, a profit making organizations, non-profit organization or governmental agencies. (Deakins and Freel, 2009:25).
An Enterprise has the following characteristics: its risks originate from the organizational goals and objectives, it has a framework that provides a common approach and handling of issues across and within the enterprise, the Enterprise risks are linked to the impact they can cause, and finally, an enterprise is a business approach where an entrepreneur is an individual aimed at exploiting opportunities.
Fauchart, E and Gruber, M. (2011). Darwinians, communitarians, and missionaries: The role of founder identify in entrepreneurship, Academy of Management Journal, 54 (5): 935-957.
Deakins, D.; Freel, M. (2009). Entrepreneurship and Small Firms, 5th Edition. McGraw Hill.