Entrepreneurship refers to all those activities which are to be carried out by a person to establish and to 
run the business enterprises in accordance with the changing social, political and economic 
environments. Entrepreneurship includes activities relating to the anticipation of the consumers likes 
and dislikes, feelings and behaviors, tastes and fashions and the introduction of business ventures to meet 
out all these expectations of the consumers. 
Entrepreneurship is  considered as a ‗new product‘that  would enable businessmen   to develop new form of 
business organization and new business activities catering to the changing needs of the society. The 
liberalization of cultural rigidities are mainly due to this new product ‗entrepreneurship‘Entrepreneurship is 
the abilit y of entrepreneurs to assess the risks and establish businesses which are risky but at the same 
time suits perfectly to thechanging scenarios of theeconomy.