What is Entrepreneurship?
An entrepreneur is someone that creates or expands a business or venture. Entrepreneurs can be owners or employees within an organization that work to do this. As business owners, entrepreneurs take on the risk of success or failure. Important entrepreneurial skill areas include business administration, finance, computer science, and specific knowledge, such as industrial engineering, if you plan to start a business that requires technical know-how.
Entrepreneurs are people that create new business and work to expand existing businesses with new ideas, products, services, etc. While many new businesses come from creative ideas, some successful models remake existing firms. Entrepreneurs can create productive arrangements of business and technology and leverage business connections. Business development requires leadership skills and the ability to realize a vision through tools like marketing, analytics, and negotiation.
Business ownership can be a rewarding experience. However, the same ideal, enthusiasm, and drive can work in existing corporate settings as it does in startups. The modern corporation often behaves as an entrepreneur and develops new ventures and enterprises by leveraging corporate resources.