Entrepreneurship is the creation or extraction of economic value. It involves designing, launching, and running a new business, which may include risks beyond what is normally encountered in starting a business. Entrepreneurs are individuals who create new businesses, bearing most of the risks and enjoying most of the rewards. They take an idea or product and create a business, with the long-term vision of seeking high profits and capturing market share with an innovative new idea.
Entrepreneurship requires a combination of skills, including business acumen, financial and operational knowledge, and a drive for innovation. Entrepreneurs must be able to balance an understanding of how business works with a willingness to take risks and pursue new opportunities. They are often seen as visionaries or innovators who are able to take their careers into their own hands and lead them in the direction they want.
In summary, entrepreneurship is the process of creating, managing, and scaling a business by taking calculated risks and being innovative. It involves combining resources, skills, and vision to bring forth new products, services, or solutions that meet market demands and create value.
