Introduction to entrepreneurship/BMAN111/Nature/Define

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Before we can start exploring entrepreneurship, let's define what an entrepreneur is. An entrepreneur can be defined as:

  • A person who starts, organizes, and manages any enterprise, especially a business, usually with considerable initiative and risk. [1]
  • Someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.[2]
  • A person who sets up a business or businesses, taking on financial risks in the hope of profit.[3]
  • A person who is willing and able to convert a new idea or invention into a successful innovation.[4]

In a nutshell, we can see that entrepreneurs

  • start businesses
  • take financial risks, and
  • are innovative
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Required reading

Readings are really important for your learning. They are a key part of any OERu course, so do make time to read any of the suggested articles, in a comfortable space, maybe with paper and a pen, in case you want to make notes.


  1. "Introduction to Entrpreneurship". Lumen Boundless Management, n.d.
  2. Principles of Entrepreneurship: "What is Entrepreneurship?" Saylor, 20 May 2015.
  3. Getting Started as an Entrepreneur: "Entrepreneurship Is..." Saylor, 2 November 2017.



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Discussion

From the readings, which definition of entrepreneurship is most meaningful for you? Why?

WEnote

Post your comment(s) below, and then look on the course feed page to see what others have posted.

If you prefer, you can create a post on your learning journal blog. Be sure to label or tag your post bman111.
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References

  1. http://www.dictionary.com/browse/entrepreneurship
  2. http://www.businessdictionary.com/definition/entrepreneur.html
  3. https://en.oxforddictionaries.com/definition/entrepreneur
  4. https://courses.lumenlearning.com/boundless-management/chapter/entrepreneurship