Changing Contours of Entrepreneurship

Abstract

Poverty, hunger, child labour, disease, and illiteracy, are some of the problems which still looms our society. These problems have engulfed the society to such a large extent which is not possible to avoid, if the responsibility rests with few. It has to be shared among government, NGOs, corporations, entrepreneurs and public at large. With such a social mission, some entrepreneurs and corporations these days are working to transform the life around the world and are called social entrepreneurs. Social entrepreneurs have always existed, but now they have grown in numbers. Usually, the concept of social entrepreneurship is confused with philanthropy or non-pro.fit organisations. In practice, it is a broader term and hence, it is important to understand the changing contours of entrepreneurship. Although an emerging field of research, social entrepreneurship is still latent and unrecognised in the state of Karnataka. The broad objective of present study is lo know the nature and extent of social entrepreneurship in Karnataka. The study may act as a source of motivation and guideline for entrepreneurs who wish to work for the welfare of society. 171e word entrepreneur is originated from the French word 'entreprendre', which indicates 'to do something'. While doing something the entrepreneur first understands the problem (need), explore resources and opportunities and use them to find a novel, effective and a long lasting solution. 171e concept of entrepreneurship and the functions of entrepreneur changed in every era as per needs of people. In Aristotelian tradition, concept of entrepreneurship was absolutely different from present day. Trade was considered lo be a 'suspect activity' or causing 'distresses'. Production and consumption of agriculture produce was within household and doing trade outside \i\forld was just limited to amenity goods. The materialistic thinking could not dominate till medieval era. As whole of society was viewed as performing divinely assigned roles, so entrepreneurship, during that time could hardly be expected to feature prominently. Hence, in ancient and medieval world economic conditions were static, trade suppressed and technology entirely unprogressively. With the growth of the modern nation states of France, Spain and England from the late .fifteenth century onwards, rulers began to boost political power to accumulate treasure and pay armies. The condition further improved in the sixteenth and seventeenth centuries. While, in the early 16th century, the word entrepreneur was practical to those who were affianced in military missions, and during the 17th century it got extended to civil engineering activities such as fabrications and construction works. While the first class was independent, the other two were dependent on it. All the exchange and circulation of goods was carried by the entrepreneurs. They buy the produce at certain prices, combined them into a product and resell them at uncertain prices, with the difference being profit or loss. Thus, shopkeepers, drapers and retailers of every kind, pastry cooks, innkeepers, cooper smiths, chimney sweepers, shoemakers, carpenters etc. were all entrepreneurs. Even beggars were also included in this category. Being independent, landowners and princes were excluded from this uncertainty and hence were not considered as entrepreneurs. On the other hand, he analysed the function of entrepreneur independent of any social framework. The human industry, the capital or value, and the land and other natural agents were the three major agents of production according to him. An entrepreneur, among other things possesses judgment, perseverance, and knowledge of the surrounding world along with the knowledge of business.