Glossary of Business Terms - Entrepreneurship |
Entrepreneurship
: Entrepreneurship refers to
an individual or group of individuals who
start a new business or organization or
revitalize an existing business or organization.
These include businesses or projects for
profit as well as non-profit organizations.
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In general,
entrepreneurship is considered difficult
since the founder or founders of the business
oftentimes take on multiple roles and risks
in order to make their venture succeed.
While an entrepreneurship may consist of
a single person taking and building a business
as a part-time project, other entrepreneurial
ventures involve starting businesses in
order to see them grow and eventually hire
on employees and personnel. Many of these
larger-scale entrepreneurship ventures look
for venture capital or investors who can
help grow their businesses.
Individuals who take part in entrepreneurial
ventures are considered entrepreneurs. Many
entrepreneurs will analyze the market prior
to investing in their project. Although
any new business comes with risk, some entrepreneurship
ventures are new and unique ideas that have
never been tested on the local or global
market. These kinds of new businesses have
considerable risk associated with them and
require a lot of investigation into the
consumer base prior to launch. Examples
of such entrepreneurial ventures are Yahoo
and Google who took risks and opened up
a previously closed and unknown market on
the Internet. Since no online market existed
before they began, Yahoo and Google were
considered pioneers of largely uncharted
consumer territories.
Also called : Entrepreneurial or
Entrepreneur
More Entrepreneur Information : Famous
Entrepreneurs, CEOs
or Billionaires.
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