ABSTRACT
A few examples of entrepreneurial ideas that have changed our lives in significant ways include automobiles, supermarkets, mobile phones and personal computers. The entrepreneur is defined by his or her ability to continuously search for change, respond to the change, and exploit it as an opportunity. Effectively, entrepreneurship is the means by which innovation in the form of new products, services or organising patterns is identified, developed and brought into being. Entrepreneurs as compared to their traditional management counterparts are skilled in seeing opportunities for change where others may only see problems, a lack of resources or abilities. Entrepreneurial opportunities are recognised by virtue of the entrepreneur’s knowledge, expertise and beliefs about existing products, services or market need. Entrepreneurs bring diverse stakeholders together to capitalise upon an identified opportunity for a new product or service. The key ingredients of successful entrepreneurial activity include ideas, people and money.
