what do you know about entrepreneurship?

Answer 1

In practice, entrepreneurship can be:
* starting your own business
* inventing something new
* a spirit of creative thinking and innovation that embraces an entire organization.
* Entrepreneurs take many paths to many business objectives.

Take a look at this list of entrepreneurship definitions. Note that innovation is part of most of these definitions. Some mention starting a business, but entrepreneurship can be simply a way of thinking and taking action.

Definitions of Entrepreneurship
"An entrepreneur is a person who is willing to take risks in order to obtain positive results." (Cornell student, 2001)
"An entrepreneur is one who organizes, manages, and assumes the risks of a business or enterprise." (Cornell student, 2001)
"Entrepreneurship is being a dare devil businessperson by assuming risks, thinking differently, and distributing resources so as to shake up the market." (Cornell student, 2001)
"An entrepreneur is a person who has the vision and the drive to overtake and make a project happen." (Cornell student, 2001)
The role of entrepreneurship is "to assemble and deploy resources in new combinations that disrupt the otherwise static nature of the market." Schumpeter (1934)
"Entrepreneurs innovate. Innovation is the specific instrument of entrepreneurship. It is the act that endows resources with a new capacity to create wealth. Innovation, indeed, creates a resource." (Drucker, 1985).
"Perceived opportunities are contrived from the entrepreneur’s assessment of the ‘waste’ in existing resource combinations." Kirzner (1973)
"Entrepreneurship is the process of acquiring, assembling, and deploying resources in the pursuit of perceived opportunities for long-term gain." Bowman & Upton, 1991)
"Entrepreneurship is the discovery of new combinations of resources under uncertain situations that generate entrepreneurial rent as reward for risk taking." (Rumelt, 1987)
"A firm-creating entrepreneur creates and perhaps operates a new business firm, while an innovating entrepreneur transforms inventions and ideas into economically viable entities." (Baumol, 1991)

Entrepreneurship describes a specific approach to business development and ownership, and it can also be a way of thinking that focuses on innovation-an innovative product or service, an innovative production process, innovative marketing strategies, or an overall approach to business.

Click on the link for a fuller explanation of What is Entrepreneurship?

Answer 2

In my adventure as a black entrepreneur, I observed maximum folk of my kin take the government activity path, on an analogous time as I consistently had the itch to pursue a self-made profession. i became privileged to attend MIT, a school that fosters a fashion of existence of countless entrepreneurial endeavors from one among those categories. instructions and accelerators hosted by utilising the college gave me the backside expertise to run a agency and remarkable pursue a challenge. It became an remarkable learning probability and had a important impact on helping me launch the startup I run now. regardless of if, I consistently discovered that i became a minority interior the entrepreneurial circles i became a factor of. I’ve discovered that accelerators are somewhat important in offering a extra in intensity preparation, somewhat while run by utilising experienced entrepreneurs. the international Founders’ skills Accelerator (GFSA) software director is invoice Aulet, famed educator, author and entrepreneur; the HAX accelerator is controlled by utilising Duncan Turner, entrepreneur and previous IDEO dressmaker. regardless of if, in the two cohorts, there have been very few minorities. In GFSA, there have been 4 blacks out of roughly 50 founders; in HAX there weren’t any represented between the 15 agencies. This exceeded off in spite of the international selection efforts that have been put in place by utilising the two businesses for prevalent minority and state-specific populations.