Indian Streams Research Journal

Volume : III, Issue : XII, January - 2014

ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT

Sunil U. Suryawanshi, None

DOI : 10.9780/22307850, By : Laxmi Book Publication

Abstract :

Economic growth means more output. While economic development implies both more output and changes in the technical and institution arrangements by which it is produced and distributed. Growth may well involve not only more output derived from greater amounts of inputs but also greater efficiency. Entrepreneur has been a major factor in the economic growth. He plays a vital role in the process of economic development and growth. Entrepreneur is one of the most important inputs in the economic development of a country. Entrepreneurial competence makes all the difference in rate of economic growth. Entrepreneur has to play an important role of an agent of change in developing economies, because no development can possible without a change. As an agent of change, the entrepreneur is required to search for the opportunities and areas where changes are necessary and can be expected. He is himself an instrument of change He introduces new ideas, new methods, uses new combinations and brings about the required change himself. Entrepreneur in general and innovative entrepreneur in particular are instrumental in achieving the process of economic growth. Entrepreneur attains the sustained rise in national output. The innovative entrepreneur and their urge for innovations give stimulation to the technological advancement. The new activities, attitudes, ideas and values introduced by entrepreneur are mainly bringing the institutional, attitudinal and ideological adjustment. A wise entrepreneur knows that the opportunity for change is essential for competition and growth in our economy. It can thus be said that no economic development is possible without entrepreneurial development.

Keywords :

• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur
• Economic Development
• Entrepreneur

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References :

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