4.(Cole, 1959)Activity to initiate and develop a profit-oriented business.5.(McClelland, 1961)Moderate risk.6.(Shapero, 1975)Kind of behavior: (1) initiative, (2) organizing and re- of social economic mechanisms turning resources and situations to practical account, (3) acceptance of risk failure.7.(Casson, 1982) Decisions and judgements about coordination of scarce resources.8.(Ronstadt, 1984) Dynamic process of incremental wealth – individuals assuming major risks; equity, time, commitment, providing value to product or service by securing and allocating skills and resources.9.(Drucker, 1985) Behavior rather than trait. Lies in concept and theory rather than intuition.10.(Gartner, 1985) Creation of new organizations.11.(Hisrich & Brush, 1985) Process of creating new with value devoting time and effort. Accompanying financial, psychic, social risks and uncertainties, resulting rewards of monetary and personal satisfaction.12.(Stevenson & Grousebeck, 1989) Pursuit of opportunity without resources currently controlled.13.(Hart, Stevenson, & Dial, 1995) … But constrained with the founders’ previous choices and industry-related experience.14.(Shane, 2003) Discovery, evaluation, and exploitation of opportunity introducing new goods and services, ways of organizing markets.