The word 'entrepreneur' is derived from the french word 'entreprende'. It means to 'to undertake'.
In 18th centuary, Richard Cantilon an Irishman, living in France firstly used the term entrepreneur
Webster's Dictionary defines the term entrepreneur as " a person who organizes and manages a business undertaking, assuming the risk for the sake of profit."
Peter F. Drucker states that an entrepreneur is the one who always searches for changes, responds to it and exploits it as an opportunity. He further states that innovation is the specific tool of entrepreneur, the means by which he expliots change as an opportunity for a different business or services.
The New Encyclopedia Britannica describes an entrepreneur as an individual who bears the risk of operating a business in the face of uncertanity about future conditions.
Joseph A. Schumpeter states that entrepreneur is a person who introduces innovative changes in an enterprise.