Entrepreneurship pertains to new businesses which are designed to address particular opportunities. Entrepreneurship is also defined as the process of determining, assessing and utilizing opportunities. Webster defined an entrepreneur as “one who undertakes to start and conduct an enterprise or business, usually assuming full control and risk."
Since a number of new businesses fail, an essential part of entrepreneurship then is taking risks. Entrepreneurship does not deal with calculated risks. Risks cannot be insured nor minimized. And entrepreneurship deals with these risks by creating solutions to problems.
The vision of an entrepreneur is what drives the entrepreneurship. It also takes a lot of hard work and determination to create an entrepreneurship.
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