Entrepreneur and entrepreneurship are the buzzwords in different circles and economic literature. Nevertheless, these concepts have been discussed over two centuries by many authorities. But still controversies continue to surface these concepts. The primary objective of this article is to resolve such state and to arrive at a conclusive consensus on these concepts through a critical review of previous studies, thereby arriving at an exhaustive definition by having a creative blending of ideas much aired on the subject, which is reflective of the overall face of the concepts though not with all-inclusive elements but without sacrificing any of those features considered conceded by earlier authorities. It is believed that this article will surely clarify in depth the concepts with conclusive definitions that skull out the vital characteristics of a successful entrepreneur and of entrepreneurship thereupon, from the process elements of entrepreneurs.

Keywords : Concept, Critical-Review, Entrepreneur, Entrepreneurship.