The ability and willingness to undertake the organization and management of production As well as making the usual business decisions, entrepreneurship is often associated with the functions of innovating and bearing risks
entrepreneurship is a process through which individuals and groups pursue opportunity, leverage resources, and initiate change to create value Thus, an entrepreneur is one who creates and manages change by pursuing opportunity, acting with passion for a purpose, living proactively, and leveraging resources to create value
Involves the recognition of opportunities (needs, wants, problems, and challenges) and the use of resources to implement innovative ideas for new, thoughtfully planned ventures
refers to the management skills, or the personal initiative used to combine resources in productive ways It involves taking risks
The process of creating a business enterprise capable of entering new or established markets by deploying resources and people in a unique way to develop a new organization
the art and science for innovations of all things that is concerned for business and riskness
Decision-making input that is concerned with the application of resources and with identifying new possibilities, new products, and new methods of production
refers to the set of skills a person needs in order to successfully start and run a small business These skills include the ability to identify a need in the marketplace and to take risks
Entrepreneurship is the state of being an entrepreneur, or the activities associated with being an entrepreneur
the art of taking something at risk which would be profitable and that is at moderate risk
The process of starting and managing your own business; the skills of people who are willing to risk their time and money to run a business
a factor of production; the productive resources supplied by a profit-seeking decision-maker who decides what economic activities to engage in and how they should be undertaken