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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.
An entrepreneur is a person who sets up a business or multiple businesses (serial entrepreneur). Entrepreneurship may be defined as the creation or extraction of economic value. It is generally thought to embrace risks beyond what is normally encountered in starting a business. Its motivation can include other values than simply economic ones.
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]
An entrepreneur develops new products or ideas, typically taking on more risks than most small business owners There are various types of entrepreneurs, including innovators, opportunists ...
The term entrepreneur is derived from the French word entreprendre, i.e. to undertake. The French economist Jean-Baptiste Say first coined the term in 1803 and defined an entrepreneur as an individual who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield".
Using wiki models or crowdsourcing approaches, for example, a social entrepreneur organization can get hundreds of people from across a country (or from multiple countries) to collaborate on joint online projects (e.g., developing a business plan or a marketing strategy for a social entrepreneurship venture).
The main difference between an internal entrepreneur (intrapreneur) and an entrepreneur is the environment, which represents the sphere in which they work. An entrepreneur's aim in general terms is to create a successful organisation, while an internal entrepreneur on the other hand has to find solutions to existing problems within the company ...
A social entrepreneur is an entrepreneur who works to increase social capital by founding social ventures, including charities, for-profit businesses with social causes, and other non-government organizations. These types of activities are distinct from work of non-operating foundations and philanthropists who provide funding and other support ...