Entrepreneurship refers to the process of starting and launching a business and includes the willingness and ability to take on that business risk. As a reward for taking on the risk, the entrepreneur gets to enjoy many profits generated from the enterprise.
Entrepreneurship is a natural phenomenon in business. It is part of business life. It shows that business is healthy when there are entrepreneurial skills and management are adopted for changing and learning. Thus, it will be beneficial for any business organization to understand the definition of entrepreneurship, sources and types of entrepreneurship, and be able to manage entrepreneurship. This is qualitative research based on a literature review to define entrepreneurship, define the sources and types of entrepreneurship, and provide practical guidelines on how to manage entrepreneurship. It is found that several definitions of entrepreneurship are based on sources and types of entrepreneurship such as entrepreneurial skills, innovations, and management.
