Adam Smith (1776) defined entrepreneur as "an individual, who forms an organisation for commercial purpose -who is a capitalist." To Adam Smith, "the entrepreneur is a proprietory capitalist, a supplier of capital and at the same time, works as a manager intervening between the labour and capital." Adam Smith treated the entrepreneur as an employer, master, merchant and undertaker but [...]
Entrepreneurship development programme is a programme meant to develop entrepreneurial abilities among the people. The concept of entrepreneurship development programme involves equipping a person with the required skills and knowledge needed for starting and running the enterprise. EDP is an effective way to develop entrepreneurs which can help in accelerating the pace of socio-economic development, balanced regional growth, and exploitation [...]
Everything you need know about the role of entrepreneurship in economic development. The economic development of any economy heavily depends on the accumulation and availability of fundamental resources like land labour, capital and technology. Technology in particular is contributed by the knowledge of the people in the society. The innovativeness of the entrepreneurs often lead to creation of technology paving [...]