Q3908516

List of Entrepreneurship : Vote for your favorites.

List of Entrepreneurship    : Vote for your favorites.

Entrepreneurship is the process of designing, launching and running a new business, which is more often than not, initially a small business, offering a product, process or service for sale or hire. The people who create these businesses are called entrepreneurs. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit". While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of businesses have to close, due to "lack of funding, bad business decisions, an economic crisis – or a combination of all of these" or due to lack of market demand. In the 2000s, the definition of "entrepreneurship" expanded to explain how and why some individuals (or teams) identify opportunities, evaluate them as viable and then decide to exploit them, whereas others do not and, in turn, how entrepreneurs use these opportunities to develop new products or services, launch new firms or even new industries and create wealth. Recent advances stress the fundamentally uncertain nature of the entrepreneurial process, because although opportunities exist their existence cannot be discovered or identified prior to their actualization into profits. What appears as a real opportunity ex ante might actually be a non-opportunity or one that cannot be actualized by entrepreneurs lacking the necessary business skills, financial or social capital.

An entrepreneur has been defined as, "a person who starts, organizes and manages any enterprise, especially a business, usually with considerable initiative and risk; running a small business with all the risk and reward of any given business process". Entrepreneurs tend to be good at perceiving new business opportunities and they often exhibit positive biases in their perception (i.e., a bias towards finding new possibilities and seeing unmet market needs) and a pro-risk-taking attitude that makes them more likely to exploit the opportunity. An entrepreneur may be in control of a commercial undertaking, directing the factors of production – the human, financial and material resources – that are required to exploit a business opportunity. Entrepreneurs act as managers and oversee the launch and growth of an enterprise. Entrepreneurship is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation. The exploitation of entrepreneurial opportunities may include:

  • developing a business plan
  • hiring the human resources
  • acquiring financial and material resources
  • providing leadership
  • being responsible for both the venture's success or failure
  • risk aversion

Economist Joseph Schumpeter (1883–1950) saw the role of the entrepreneur in the economy as "creative destruction" – launching innovations that simultaneously destroy old industries while ushering in new industries and approaches. For Schumpeter, the changes and "dynamic disequilibrium brought on by the innovating entrepreneur [were] the norm of a healthy economy".

While Entrepreneurial spirit may be characterized as being "by innovation and risk-taking", entrepreneurship is often associated with new, small, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and established firms and in for-profit and not-for-profit organizations, including voluntary-sector groups, charitable organizations and government.

Entrepreneurship may operate within an entrepreneurship ecosystem which often includes:

  • government programs and services that promote entrepreneurship and support entrepreneurs and start-ups
  • non-governmental organizations such as small-business associations and organizations that offer advice and mentoring to entrepreneurs (e.g., through entrepreneurship centers or websites)
  • small-business advocacy organizations that lobby governments for increased support for entrepreneurship programs and more small business-friendly laws and regulations
  • entrepreneurship resources and facilities (e.g., business incubators and seed accelerators)
  • entrepreneurship education and training programs offered by schools, colleges and universities
  • financing (e.g., bank loans, venture capital financing, angel investing and government and private foundation grants)

 Read more...
 
 
 
Votes cast on this list:
Up-Votes: 0
Down-Votes: 0
Views: 3432
 
Best-Votes: 0
Worst-Votes: 0
Total Votes: 0
 
comments powered by Disqus
 

Voting Rules

  • You can vote up or down. Please always consider the context when voting, e.g. a song should be voted up or down with respect to the other songs contained on the album, an actor's performance in comparison with other actors in the same movie, a book with respect to other books by the same author or within the same genre.
  • A vote can be cancelled by simply clicking the opposite vote within 24 hours. You can then vote again on the same item.
  • Each user has one vote per item within a specific list every 24 hours. After 24 hours you can vote again on the same item within the same list.
  • You can vote on as many items as you like within a list or on the same item if it's part of another list. For example, you can vote David Bowie up or down on the list of pop music artists as well as on the list of indie rock artists and on the list of rock music artists. etc.
  • Happy Voting!