Fischer

Definition

Entrepreneurship is the activity of setting up a business or businesses, taking on financial risks in the hope of profit. It involves identifying opportunities in the market, creating innovative solutions, and effectively managing resources.

Related terms

Market Opportunity: The identification of a profitable gap in a specific market that can be exploited by offering goods or services.

Innovation:

The process of translating an idea into a good or service that creates value for which customers will pay.

Risk Management:

The practice of identifying potential risks in advance, analyzing them, and taking precautionary steps to reduce or curb risk