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Entrepreneurship includes the creation or extraction of economic value. [11] [12] [13] It is the act of being an entrepreneur, or the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. [citation needed] Entrepreneurs act as managers and oversee the launch and growth of an enterprise.
J. G. Dees argues that social entrepreneurship is the result and the creation of an especially creative and innovative leader. [10] Social entrepreneurs can include a range of career types and professional backgrounds, ranging from social work and community development to entrepreneurship and environmental science. For this reason, it is ...
Entrepreneurial economics is the field of study that focuses on the study of entrepreneur and entrepreneurship within the economy. The accumulation of factors of production per se does not explain economic development. [1] They are necessary factors of production, but they are not sufficient for economic growth. [2]
Entrepreneurship education focuses on the development of skills or attributes that enable the realization of opportunity, where management education is focused on the best way to operate existing hierarchies. Both approaches share an interest in achieving "profit" in some form (which in non-profit organizations or government can take the form ...
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. [1] [2] While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to go public, startups are new businesses that intend to grow large beyond the solo-founder. [3]
This has also led to an increasing focus on startup ecosystem development. University-based entrepreneurship ecosystem – Entrepreneurship thrives in ecosystems in which multiple stakeholders play key roles. Academic institutions are central in shaping young people’s attitudes, skills and behaviours.
Entrepreneurial finance is the study of value and resource allocation, applied to new ventures.It addresses key questions which challenge all entrepreneurs: how much money can and should be raised; when should it be raised and from whom; what is a reasonable valuation of the startup; and how should funding contracts and exit decisions be structured.
Prof Chris Roebuck notes that in recent examples of applying entrepreneurial leadership to organizations, the link to employee engagement has increasingly become as a key success factor. [17] This has also allowed development of the concept of entrepreneurial support functions, such as Entrepreneurial HR and Entrepreneurial IT, to support the ...