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# Class 11th - Entrepreneurship - Entrepreneurship: Concept and Functions ## Entrepreneur Versus Entrepreneurship The term 'entrepreneur' is often used interchangeably with 'entrepreneurship', but conceptually they are different, yet they are just like the two sides of a coin. Both the terms are c...

# Class 11th - Entrepreneurship - Entrepreneurship: Concept and Functions ## Entrepreneur Versus Entrepreneurship The term 'entrepreneur' is often used interchangeably with 'entrepreneurship', but conceptually they are different, yet they are just like the two sides of a coin. Both the terms are co-related. An entrepreneur is a person who bears the risks, unites various factors of production and carries out creative innovations. He/she is an individual or one of a group of individuals who try to create something new. He/she is always attempting to bring about change in terms of factor proportions, which is known as innovation. On the contrary, entrepreneurship is the set of activities performed by an entrepreneur. It is the process of identifying opportunities in the market place and marshalling the resources required to pursue these opportunities for long-term gains. It is the attempt to create value.