Schumpeter (1934) stated that entrepreneur is an
individual who possess specific traits of creation of new firms and innovative
activity. An individual with a dream and will to form private kingdom and
dynasty; with a will to conquer, the impulse to fight, to prove superior to
others and to succeed. He further described entrepreneur as an individual with
the joy of creating, of getting things done and exercising one’s own energy and
ingenuity.
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