Abstract

Entrepreneurship should not be associated only with a certain organizational unit, form, ownership structure or phase of the company's life cycle, because it is present wherever there is an initiative to introduce innovations and take risks as new challenges and opportunities. This paper presents the historical development of entrepreneurship, the meaning of the term and different theoretical approaches, depending on the period of observation, as well as the authors who dealt with entrepreneurship. In order to fully understand the concept of entrepreneurship as a business activity, the postulates of classical economic schools and contemporary thoughts on entrepreneurship are pointed out. The ways of performing entrepreneurial activity, then and now, are also presented. It is concluded that entrepreneurship has long been a new sector of the modern economy, a new economic category that leads to the creation and application of new strategies in business and the marketing of new products and services to existing or new markets.

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