Introduction to entrepreneurship/BMAN111/Nature/Define

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.
• 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.
• A person who sets up a business or businesses, taking on financial risks in the hope of profit.
• A person who is willing and able to convert a new idea or invention into a successful innovation.

In a nutshell, we can see that entrepreneurs

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

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.

Discussion

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

WEnote

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References