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Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones.
Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or environmental issues. [1] This concept may be applied to a wide range of organizations, which vary in size, aims, and beliefs. [2]
Also, entrepreneurship is usually perceived as the cure-all solution for deprivation depletion. Advocates assert that it guides to job design, higher earnings, and lower deprivation prices in the towns within it happens. Others disagree that numerous entrepreneurs are generating low-capacity companies helping regional markets. [13]
A business incubator is an organization that helps startup companies and individual entrepreneurs to develop their businesses by providing a fullscale range of services, starting with management training and office space, and ending with venture capital financing. [1]
The concept has intersections with sociology, anthropology, social psychology and philosophy. [3] The social entrepreneurship literature has largely concentrated on the voluntary, not-for-profit, or "third" sector. In the for-profit context, the social entrepreneur is traditionally perceived as a philanthropic agent or business owner.
Entrepreneurial orientation has become one of the most established and researched constructs in the entrepreneurship literature. [2] [3] [4] A general commonality among past conceptualizations of EO is the inclusion of innovativeness, proactiveness, and risk-taking as core defining aspects or dimensions of the orientation.
A business idea is a concept envisioned by individuals or teams that can be monetized through the delivery of products or services. Serving as the foundation for entrepreneurial ventures, a robust business idea is essential for the development and success of new enterprises.
Ecopreneurship is a term coined to represent the process of principles of entrepreneurship being applied to create businesses that solve environmental problems or operate sustainably. The term began to be widely used in the 1990s, and it is otherwise referred to as "environmental entrepreneurship."