Peter Drucker (1993) first spoke about the entrepreneur as someone who seeks to minimize opportunities to himself. In his book the innovator and entrepreneurship he defines what people perceive as the entrepreneur as someone who starts his own small business. But he contradicts it by saying that an entrepreneur can be found anywhere not just in small businesses as most people believe. More still he says an entrepreneur is always searching for a change, responds to it and exploits it as an opportunity. This definition shows that entrepreneurship is a process.

According to A.H Cole ‘’Entrepreneurship is the purposeful activity of an individual or group of associated individuals, undertaken to initiate, maintain or aggrandize profit by production or distribution of economic goods or services’’

According to William Diamond, Entrepreneurship involves the willingness to assume risks in undertaking an economic activity particularly a new one……it may involve an innovation but not necessarily so. It always involves risk taking and decision-making, although neither risk nor decision making may be of great significance.’’

According to Peter P Drucker, ‘Entrepreneurship is neither a science nor an art. It is a practice. It has a knowledge base. Knowledge in entrepreneurship is a means to an end; that is, by the practice.

Benjamin Higgins has defined entrepreneurship as ‘’Entrepreneurship means the function of foreseeing investment and production opportunity, organizing an enterprise to undertake a new production process, raising capital, hiring labor, arranging for the supply of raw materials and selecting top managers for the day to day operation of an enterprise

 According to B.C Tandon, “entrepreneurship means the function of creating something new, organizing, coordinating, and undertaking risk involved.’’

According to Jeffery A. Timmons ‘’Entrepreneurship is the ability to create and build something practically from nothing .Fundamentally a human creative activity is finding personal energy by initiating, building and achieving an Enterprise and organization rather than by just watching, analyzing, or describing one. It requires the ability to take calculated risk and to reduce the chances of failure.’’

According to Schumpeter, ‘Entrepreneurship is based on purposeful and systematic innovation. It includes not only the independent businessman but also company directors and managers who actually carry out innovative functions.’’

The endless possibilities of what an entrepreneur can do make it impossible to define accurately an entrepreneur.

However it is important to understand entrepreneurship as the process of creating an opportunity and pursuing it regardless of the resources currently available. OR

Entrepreneurship is a process of identifying viable business opportunities and implementing them through innovativeness and creativity.