He is the major economic function who envisages new opportunities, new lines of production, new products and who can coordinate effectively. The spontaneity and continuity of the process would depend on the kind of people that can be prompted and groomed in the entrepreneurial career.
Finally, mapping the entrepreneurial processes has emerged to shape these opportunities Gaglio, As society grew and the process of business occupation depended and the value work tended towards change and the various occupational role interchanged with non-role group and sub-groups.
England flourished and India had to pay for that.
Sharma and Chrisman identified two clusters of thought on the meaning of entrepreneurship. Psychologists on the other hand attempt to isolate entrepreneurs from general population on various personality trials such as need for achievement, creativity, propensity to take risk, independence leadership etc.
After the Second World War entrepreneurship received new meaning for attaining economic development within the shortest possible time. To process of entrepreneurship therefore passed through the potential roots of the society and all those who accepted entrepreneurial role had the cultural heritage of trade and business.
As entrepreneur by implication is one who ventures out, who prefers change as a means of growth and it the process is prepared to take a calculated risk while taking risks he is aware of the possibilities, success as well as the consequence of failure.
Occupational pursuits opted by the individual under the caste system received different meaning of value attached to entrepreneurship.