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jahnavi janu Demos

entrepreneurship

0:00
0:00
23
Category
Television
Language
English
Voice Age
Young Adult
Description
Entrepreneurship has traditionally been defined as the process of designing, launching and running a new business, which typically begins as a small business, such as a startup company, offering a product, process or service for sale or hire. It has been defined 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 businesses have to close, due to a \"...lack of funding, bad business decisions, an economic crisis -- or a combination of all of these\" or due to lack of market demand. In the 2000s, the definition of \"entrepreneurship\" has been expanded to explain how and why some individuals (or teams) identify opportunities, evaluate them as viable, and then decide to exploit them, whereas others do not, and, in turn, how entrepreneurs use these opportunities to develop new products or services, launch new firms or even new industries and create wealth.[