Question

concept of entrepreneurship in about 700 words​

Answer 1

Answer:

Entrepreneurship is the creation or extraction of value.[1][2][3] With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones.

More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often similar to a small business, or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit."[4] The people who create these businesses are often referred to as entrepreneurs.[5][6] 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, government policies, an economic crisis, lack of market demand, or a combination of all of these."[7]

Answer 2

Answer:

An entrepreneur is a person who is devoted to search something new and exploit the novel notions and visions into gainful opportunities by bearing the risk involved in the process. The entrepreneur conceives the idea of an enterprise, lives with it, and finally establishes the enterprise. Entrepreneurship refers to the process of activities undertaken by an entrepreneurs

Jeffry. A. Timmons in ‘New Venture Creation, entrepreneurship for the 21st century’ opines “Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced for the purpose of value creation and capture.”

Explanation:

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