× Close
Home » Posts tagged "Entrepreneurship" (Page 2)


What is entrepreneurship?

Entrepreneurship is the creation or extraction of value, identifying opportunities in the market, and acting accordingly with the associated risks. Entrepreneurship goes beyond starting a business and includes values and characteristics other than economic values.

What is entrepreneurship?

Entrepreneurship is the creation or extraction of value, identifying opportunities in the market, and acting accordingly with the associated risks. Entrepreneurship goes beyond starting a business and includes values and characteristics other than economic values.

An entrepreneur is a person who starts a new business, bearing the highest risk. The process of starting a business is known as entrepreneurship. An entrepreneur is often seen as an innovator, a source of newly created value, services, business, or procedures.

Entrepreneurs and new businesses play an important role in the economies of many countries. Entrepreneurs use the skills and initiatives necessary to anticipate new needs. Entrepreneurship that has proven to be successful in managing risk is rewarded with profit, fame, and opportunities to grow the business. But on the contrary, entrepreneurship that fails often leads to great losses. Well-known entrepreneurs are Elon Musk, Bill Gates, Steve Jobs, Warren Buffet, and Henry Ford.

Definition of entrepreneurship

Other definitions of entrepreneurship often refer to the process of designing, starting and managing a new business.

Entrepreneur types

Entrepreneurs, therefore, transform daring or less daring ideas into reality. As a result, they ensure the creation of jobs and contribute to the economy in general. There are different types of entrepreneurs. Each type tends to map out his or her path in a special way. They do so based on personality, abilities, and the environments they happen to be in. Examples of types of entrepreneurs include:

  • Innovators
  • Researchers
  • Buyers / sellers
  • Imitators

Types of entrepreneurship

Entrepreneurship refers to the total process of developing, starting and managing a company. There are different ways to do this. Certain people have different visions and ambitions for their company compared to others. For some entrepreneurs, profit is less important than corporate social responsibility. To some extent, every type of entrepreneur experiences the same challenges and problems. Examples of types or categories of entrepreneurship include:

  • Small Businesses entrepreneurs
  • Large businesses entrepreneurs
  • Social entrepreneurship
  • Innovative entrepreneurs
  • Researcher entrepreneurship

Characteristics of entrepreneurs

Some believe that entrepreneurs are born, not made. However, everybody has some of the characteristics that successful entrepreneurs generally possess.

Generally, entrepreneurs are highly motivated. They invest a lot of time to get the company set up and often invest a lot of money. All of this is done with the knowledge that it can take months or sometimes even years to reap the benefits. Therefore people with a fear of failure or reduced self-confidence generally do not choose this path.

Another characteristic many entrepreneurs share is passion. Even though turnover and paid salaries are also good motivators, entrepreneurs are usually more driven by intrinsic motivation. They transform that passion into a vision of what they want to achieve, what they need in order to do so, and how they will get there.

Successful entrepreneurs also have the ability to translate their vision into a practical representation which attracts staff and investors.

Effective decision-making is also a quality that many entrepreneurs share. Entrepreneurs should not only possess good decision-making skills, they also need to be able to make those decisions quickly.

Social entrepreneurship

This form in which solutions are devised for social, cultural, or environmental issues. This concept applies to a wide range of organisations. They can vary in goals, size, and beliefs. Social entrepreneurship is often related to the voluntary sector and is found in healthcare, poverty reduction, and community development.

Try us for free and get unlimited access to 1.000+ articles!  

Innovation and entrepreneurship

Innovation and entrepreneurship are inextricably linked. Innovation is the tool of entrepreneurs with which change can be achieved. Entrepreneurs purposefully look for sources of innovation and for symptoms that indicate opportunities for successful innovation.

Alexander Graham Bell biography and quotes

March 8th, 2023

Alexander Graham Bell (March 3, 1847 – August 2, 1922) was a Scottish inventor, scientist and engineer. Alexander Graham Bell is credited with inventing and patenting the first telephone. He was president of the Bell Telephone Company in 1877 and…

Jordan Belfort biography and net worth

March 8th, 2023

Jordan Belfort (Jordan Ross Belfort, 1962) is an American author, motivational speaker, and former stockbroker. In 1999, Jordan Belfort pleaded guilty to fraud and crimes related to stock market manipulation and running a boiler room as part of a penny…

Alvin Toffler biography, quotes and books

March 7th, 2023

Alvin Toffler (Alvin Eugene Toffler; 1928 – 2016) was an American author, businessman, and futurologist. This article covers his biography, quotes and books. Alvin Toffler is known for his research on the social effects of modern technologies, including research on…

Shiv Nadar biography and net worth

March 5th, 2023

Shiv Nadar (born July 14, 1945) is an Indian billionaire, entrepreneur, industrialist and philanthropist. He is the founder of Hindustan Computers Limited (HCL). HCL operates all over the world and has a physical presence in over 42 countries. Shiv Nadar

Bill Gates: his biography, net worth and quotes

March 1st, 2023

Bill Gates (1955) is globally known as the second the richest men of the world. He is also an influential public speaker, a technologist, and one of the most successful entrepreneurs of the 20th century. He co-founded Microsoft Corporation and…

Ghanshyam Das Birla Biography and Quotes

February 16th, 2023

Ghanshyam Das Birla (April 10, 1894 – June 11, 1983) was one of the most famous Indian businessmen and a member of the well-known and influential Birla family. Ghanshyam Das Birla, also known as G.D. Birla, is considered the…

Henry Ford Biography, Quotes and Books

February 7th, 2023

Henry Ford (30 July 1863- 1947) was an American influential industrialist who revolutionized the automobile production industry by being the first to utilize economies of scale manufacturing methods. Henry Ford introduced large manufacturing plants and used standardized components. In doing…

Ben Tiggelaar Biography, Quotes and Books

January 29th, 2023

Ben Tiggelaar (Beno Tiggelaar, born 3 January 1969) is a Dutch business administrator, author of management books, speaker and trainer. He is also an independent researcher, consultant and expert in the field of strategy, innovation and behaviour. Ben Tiggelaar is…

Larry Page Biography, Education, Net Worth and Quotes

January 29th, 2023

Larry Page (Lawrence Edward Page; born on March 26, 1973) is an internationally known entrepreneur as he co-founded Google. Larry Page served Alphabet, Google’s holding company, as a chief executive officer and executive chairman until 2019. Today, former CEO of…

Jim Collins Biography, Theories, Quotes and Books

January 26th, 2023

Jim Collins (James C. Collins; January 25, 1958) is a well-known business consultant, inspirational management speaker, and lecturer. Jim Collins particularly lecturers on company sustainability and growth. Collins authored, and co-authored various long-lasting international bestsellers such as ‘Built to Last’,…
© Copyright 2013-2023 | Privacy | Toolshero.nl (Dutch) | Toolshero.es (Spanish)



Join 25.000+ subscribers who get our free updates
on new articles, templates and more!


Sign up below and receive our ‘Business Model You’ template free of charge, to get started with your development right away!





No, close this pop-up

Try Toolshero for free