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operates in an environment with reduced bureaucratic obstacles in which government policies support the unique needs of entrepreneurs and tolerate failed ventures; actively encourages and invites financiers to participate in new ventures - although access to money isn’t without barriers for those planning new business ventures
More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, often similar to a small business, or (per Business Dictionary) as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit". [2]
On this definition a political entrepreneur is a business entrepreneur who seeks to gain profit through subsidies, protectionism, government contracts, or other such favorable arrangements with government agents through political influence and lobbying (also referred to as corporate welfare).
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 ]
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]
Venture management is a business management discipline that focuses on being both innovative and challenging in the realm of introducing what could be a completely new product or entering a promising newly emerging market.
To chart the factors that are involved and create synergy between them, new business development draws heavily upon the fields of technology and business networks. The new business development process is to recognize chances and opportunities in a fast changing technological environment. Often uncertainty arises because of new technology and ...
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or ...