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The Sweaty Startup by Nick Huber on Apple Podcasts
Download past episodes or subscribe to future episodes of The Sweaty Startup by Nick Huber for free.
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Entrepreneurship     2 weeks ago
Innovation library
Innovation Library Welcome to the library of Innovation.
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Entrepreneurship     1 month ago

Entrepreneurship on Social Media

Entrepreneurship Summary

Process of designing, launching and running a new business

Entrepreneurship

Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs.Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit". While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, an economic crisis, lack of market demand—or a combination of all of these.A broader definition of the term is sometimes used, especially in the field of economics. In this usage, an Entrepreneur is an entity which has the ability to find and act upon opportunities to translate inventions or technology into new products: "The entrepreneur is able to recognize the commercial potential of the invention and organize the capital, talent, and other resources that turn an invention into a commercially viable innovation." In this sense, the term "Entrepreneurship" also captures innovative activities on the part of established firms, in addition to similar activities on the part of new businesses.

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