Entrepreneurship

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Entrepreneurship is the creation or extraction of economic value through identification and commercialization of opportunities to deliver products or services, a process that typically requires considerable innovation, initiative, and risk-taking to establish and grow an enterprise. The term entrepreneur (French: [ɑ̃tʁəpʁənœʁ]) refers to an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a formal business, as well as any other unconventional modes of profit creation, are considered to be entrepreneurship. The entrepreneur is often seen as an innovator, a source of new ideas, goods, services, and business procedures; however, the central focus of entrepreneurship remains the pursuit of profit. Narrower definitions of entrepreneurship include the process of designing, launching, and operating a new business, often similar to a small business, or (per Business Dictionary) as the "capacity...

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