Understanding Definition of Entrepreneurship

Entrepreneurship is a natural phenomenon in business. It is part of business life. It shows that business is healthy when there are entrepreneurial skills and managements are adopted for changing and learning. Thus, it will be beneficial for any business organization to understand the definition of entrepreneurship, sources and types of entrepreneurship, and be able to manage entrepreneurship. This is qualitative research based on literature review to define entrepreneurship, define the sources and types of entrepreneurship, and to provide practical guidelines on how to manage entrepreneurship. It is found that several definition of entrepreneurship based on sources and types of entrepreneurship such as entrepreneurial skills, innovations, and managements. Previous researches classified entrepreneurship into different terms such as technology, and process of entrepreneurship. Some practical guidelines were also provided, but entrepreneurial skill is a major point.