Introduction to Entrepreneurship Notes, Definition of Entrepreneurship, Meaning of Entrepreneurship, Distinguish Between Entrepreneur and Entrepreneurship, Entrepreneurial Skills, Factors Affecting Entrepreneurial Growth, Types of Entrepreneurs. Introduction to Entrepreneurship Definition: One who undertakes an enterprise, especially a contractor - acting as an intermediary between capital and labour. Entrepreneurship involves not only the process that leaf's to the setting up of a business entity but also the expansion and development of an ongoing concern. The study of entrepreneurship is concerned with entrepreneurial behaviour, the dynamics of business set up and expansion and development. The Evolution of Entrepreneurship Theory Adam smith (1776): An entrepreneur is a person who acts as an agent in transforming demand into supply. JB Says (