A Definition of Entrepreneurship

Extracted 10JAN2012 from http://www.inc.com/eric-schurenberg/the-best-definition-of-entepreneurship.html

Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.

it comes from Harvard Business School, of all places. It was conceived 37 years ago by HBS professor Howard Stevenson...

The perception of opportunity in the absence of resources helps explain much of what differentiates entrepreneurial leadership from that of corporate administrators: the emphasis on team rather than hierarchy, fast decisions rather than deliberation, and equity rather than cash compensation...

entrepreneurs offer their team members a larger share of a vision for a future payoff, rather than a smaller share of the meager resources at hand.