The document defines entrepreneurship and entrepreneurs. It states that an entrepreneur is a person who organizes and operates a business to make a profit. Entrepreneurship refers to the functions performed by entrepreneurs in establishing an enterprise, such as creating something new, organizing, coordinating, undertaking risk, and handling economic uncertainty. The key elements of entrepreneurship are organizing, risk bearing, vision, and innovating. Entrepreneurs take on characteristics like hard work, risk taking, innovating, and decision making under uncertainty. The document also discusses theories of motivation for entrepreneurs and the roles entrepreneurs play in economic development.