Entrepreneurship: A Trait of Modern World - Prerna Foundation
Entrepreneurship. Google describes the term as the activity of setting up a business or businesses, taking financial risks in the hope of earning profit. Wikipedia terms it as the process of designing, launching and running a new business, which is often initially a small business. To be reliable, the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit seems to be an accurate definition of what entrepreneurship entails. It defines the act of being an entrepreneur, or "the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. It 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. To give a broader definition of entrepreneurship, one could say that it "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". Entrepreneurs create something new, something different—they change or transmute values.