Difference Between Entrepreneurship And Entrepreneurship

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As for entrepreneurship and entrepreneur, there neither is a legal framework in place as how to use them, nor is it defined as a legal term. Various authors and institutions tried to tackle that uncertainty by describing entrepreneurship, some of those illustrations are shown in the following paragraphs.
Arcs, & Audretsch (2010: 2-5) provide the reader with an overview of multifarious definitions of entrepreneurship, which can be found in the scientific literature and which are provided by several institutions. For example they refer to the Academy of Management(AM), an international organisation, which operates in over 106 countries and has 18000 members. This organisation defines entrepreneurship very wide. They perceive entrepreneurship in connection with many other fields; two of the many themes the AM deals with are for example the ecological impact and management succession. On the other hand it is important to note the Academy’s entrepreneurship division exclusively handles small businesses, family businesses and new businesses, which means it excludes entrepreneurship in major non-family business.
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They state that it is characterized as a new and dynamic venture, which accounts of various fields. For example entrepreneurship includes the examination of the relationship between entrepreneurship and organisations. It could also be understood as the process of grasping entrepreneurial opportunities or the development of new ventures. Moreover, it compromises the process of making effective use of entrepreneurship. The reader needs to be aware, though, that Arcs, & Audretsch (2010:2) explicitly exclude non-business organisations from their definition of

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