FOUNDATIONS OF ENTREPRENEURSHIP DEVELOPMENT

Entrepreneurship is one of the driving forces of the modern global economy. It is a primary source of job creation, prosperity, and economic competitiveness. Economy, if it is to remain competitive, needs more entrepreneurial people. In particular, it needs the creativity of people of the economy. Entrepreneurship, in its widest sense, is any enterprise or effort that adds value to the lives of the people on whom, it has an impact. Change that adds value to peoples¿ lives, lies at the heart of entrepreneurship. Entrepreneurship is popularly understood as the setting up new business ventures. In this context, the emphasis is on business start-ups and on identifying and helping those with the determination so as to develop the competencies to set up and manage a business enterprise. Entrepreneurial people are innovative problem solvers. Everything all around us in some way has its roots in entrepreneurship. Products, systems, and ideas are all part of an entrepreneurial ecosystem. No society can exist without entrepreneurship. Every society depends on entrepreneurs. The subject of entrepreneurship requires understanding of the specific conditions faced by entrepreneurs.