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[kcooke101]

Who and what is an Entrepreneur?

We often hear people talk about entrepreneur’s and so on, but when it comes to mind is an entrepreneur a person who has started his or her own business. It is also the case that when we hear the term entrepreneur, we often associate it with a person who has or is starting their own enterprise or in other words, striking it on their own. This is most definitely the case as the formal definition of Entrepreneurship is that it is the procedure of starting a business or an association or for social needs or preferably to earn a profit. We have used the phrase for profit or for social needs to indicate and separate the commercial entrepreneurship from social and charitable entrepreneurship. After giving that brief definition of entrepreneurship, it is now time to define who an entrepreneur is and what he or she does.

An entrepreneur is someone who elaborates a business model, acquires the necessary equipments,physical and human capital to begin a new venture, and operationalizes it and is responsible for its success or failure.The entrepreneur is most definitely seen as an innovator, a source of new ideas, goods, services, and business/or other procedures. The entrepreneur always tries to create a firm to realize their idea at hand, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services in order to make a profit.

Entrepreneurs play a significant role in any economy, by using their skills and initiative necessary to anticipate needs and bring brilliant new ideas to the market. Entrepreneurship that proves to be successful in taking on the risks and challenges of creating a startup plan is rewarded with profits, success,fame, and continued growth and opportunities throughout their business ventures. Entrepreneurship that fails results in losses and less popularity in the markets for those involved.

[kcooke101]

Types of Entrepreneurship

As it realates to Entrepreneurship you have four types but they are all different and they create many different businesses on a global scale.

Small Business Entrepreneurship

Small business entrepreneurship is an idea of establishing a business without turning it into a massive conglomerate or in other sense opening many chains. A single restaurant with only one designated location, with only one shopping store or a wholesale shop to sell your handmade goods these would have all been an example of small business entrepreneurship.

These owners/individuals usually take part in investing their own money and succeed if their business make a substantial amount of profit, which they live off of. They don't have any outside investors and will only take a loan if it helps continue the business.

Scalable Startup

This refers to companies that start with a special idea; just like Google. The hopes are to evolve with a unique product or service and proceed growing the company, continuously moving up as time moves on. These types of companies frequently require investors and large scale amounts of capital to continue to grow their idea and reach multiple markets worldwide.

Large Company

This type of entrepreneurship is a new established business division created within an existing company. The company that already exist may be well placed to branch out in other divisions or it may be well placed to start getting involved in new technology.

CEOs of these organizations either foresee a new market for the company or for individuals within the company create brilliant ideas that they bring to senior management to begin the process.

Social Entrepreneurship

The main goal of social entrepreneurship is to develop a benefit to society and humankind. They mostly focus on assisting communities or the environment through their products and services. They don’t seek profits but rather by helping the people and the world around them.

[kcooke101]

Who and what is an Entrepreneur?

We often hear people talk about entrepreneur’s and so on, but when it comes to mind is an entrepreneur a person who has started his or her own business. It is also the case that when we hear the term entrepreneur, we often associate it with a person who has or is starting their own enterprise or in other words, striking it on their own. This is most definitely the case as the formal definition of Entrepreneurship is that it is the procedure of starting a business or an association or for social needs or preferably to earn a profit. We have used the phrase for profit or for social needs to indicate and separate the commercial entrepreneurship from social and charitable entrepreneurship. After giving that brief definition of entrepreneurship, it is now time to define who an entrepreneur is and what he or she does.

An entrepreneur is someone who elaborates a business model, acquires the necessary equipments,physical and human capital to begin a new venture, and operationalizes it and is responsible for its success or failure.The entrepreneur is most definitely seen as an innovator, a source of new ideas, goods, services, and business/or other procedures. The entrepreneur always tries to create a firm to realize their idea at hand, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services in order to make a profit.

Entrepreneurs play a significant role in any economy, by using their skills and initiative necessary to anticipate needs and bring brilliant new ideas to the market. Entrepreneurship that proves to be successful in taking on the risks and challenges of creating a startup plan is rewarded with profits, success,fame, and continued growth and opportunities throughout their business ventures. Entrepreneurship that fails results in losses and less popularity in the markets for those involved.