WHAT IS ENTREPRENEURSHIP? The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nations ability to succeed in an ever changing and increasingly competitive global marketplace. Entrepreneurial mindset refers to a specific state of mind which orientates human conduct towards entrepreneurial activities and outcomes. Individuals with entrepreneurial mindsets are often drawn to opportunities, innovation and new value creation. The Entrepreneurial Process Identifying and evaluating the opportunity; Developing the business plan; Determining and raising the funds needed; Managing the company created; Phases of the Entrepreneurial Process; Observing the development of each phase.
Posted on: Wed, 10 Dec 2014 04:23:42 +0000
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