Chapter 5 Flashcards
Is the capacity and willingness to develop, organize, and manage a business venture along with any of its risks in order to make a profit.
Entrepreneurship
It tries to identify the needs of the marketplace and to meet those needs by supplying a service or product.
Entrepreneurship
the concept of an entrepreneur is further refined when principles and terms from the business, managerial, and personal perspectives are considered.
According to Hisrich et al. (2008),
an entrepreneur is one who brings resources, labor, materials, and other assets into combinations that make their value greater than before.
To a psychologist, such person is typically driven by certain forces, the need to obtain or attain something, to experiment, to accomplish, or perhaps to escape the authority of others.
To a businessman, an entrepreneur appears as a threat, an aggressive competitor whereas to another business, as well as finds better ways to utilize resources, reduce waste, and produce jobs that others are glad to get.
To an economist
such person is typically driven by certain forces, the need to obtain or attain something, to experiment, to accomplish, or perhaps to escape the authority of others.
To a businessman, an entrepreneur appears as a threat, an aggressive competitor whereas to another business, as well as finds better ways to utilize resources, reduce waste, and produce jobs that others are glad to get.
To a psychologist,
an entrepreneur appears as a threat, an aggressive competitor whereas to another business, as well as finds better ways to utilize resources, reduce waste, and produce jobs that others are glad to get.
To a businessman
is the dynamic process of creating incremental wealth
Entrepreneurship
is the process of creating something new with votue by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risk, and receiving the resulting rewards of monetary and personal satisfaction and independence.
Entrepreneurship
