Entrepreneurship and innovation Question 1:
E-mail An Introduction to Entrepreneurship: As such, I am writing this post particularly as an introduction to entrepreneurship for the former, for the educators who would like to introduce the concepts to students early on in their life, in a empowered and truly educational way, rather than later.
As such, if you are one of these educators interested in teaching entrepreneurship to your students, the sooner you can learn the details related to entrepreneurship yourself, the better prepared you will be towards instilling in your students, the core concepts that they should be aware of to have a basic understanding of the subject.
Everything an entrepreneur does, revolves around the concept of business. As such one should know what business is at its most fundamental level. Business is the activity of making, buying, selling or supplying goods or services for money.
One of the primary goals of business is to make money. Another concept for making money in business is called revenue. A more detailed description of the concept of revenue is: Revenue is the amount of money that is brought into a company by its business activities.
Revenue is calculated by multiplying the price at which goods or services are sold by the number of units or amount sold. Equally important to the concept of revenue is the concept of profits. Profits are typically main goal of every business aside from fulfilling a need or problem that a customer has.
A formal definition for the word is below. Profit is the money a business makes after accounting for all the expenses. While the three definitions mentioned above are essential to understanding what entrepreneurship is, it is the following three definitions that need to be known to truly understand what entrepreneurship means.
Your answer should be the following: An entrepreneur is a person who starts a business and is willing to risk loss in order to make money. One who organizes, manages, and assumes the risks of a business or enterprise. Now there are many types of entrepreneurs, but that type of detail is beyond the scope of this introduction.
As such, I can provide that level of detail on another post. One thing that an entrepreneur is not, is an employee. As such, the following definition of an employee should be conveyed to your students to give them a better idea exactly what an entrepreneur is.
An employee is a person employed for wages or salary. Therefore, an employee is a person working for another person or a business firm for pay. With your students new clarity on exactly what an entrepreneur is, now you can provide them with the details of exactly what entrepreneurship is.
To summarize, you can give them the following definition. Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled. Including business situations where one engages in projects involving risk where profit is uncertain.
The concepts mentioned are just a few of the primary concepts that one must understand to truly understand what entrepreneurship is.
Keep in mind that this information is not exhaustive of what entrepreneurship is in its entirety, and is meant only as an introduction.Concept of entrepreneurship. Basically, entrepreneurship is the process that a person identify a new opportunities for setting up an enterprise to make their dream come true.
The figure 1 shows the concept of entrepreneurship.
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Concept of entrepreneurship. Basically, entrepreneurship is the process that a person identify a new opportunities for setting up an enterprise to make their dream come true. The figure 1 shows the concept of entrepreneurship. While an entrepreneur is the one willing to take the risk to start up a business in order to make profit.
Entrepreneurship- is the willingness to take risks and develop, organize and manage a business venture in a competitive global marketplace that is constantly evolving. An entrepreneurial spirit of innovation and ambition is essential to the process. Concept of entrepreneurship.
Basically, entrepreneurship is the procedure that a individual place a new chances for puting up an endeavor to do their dream come true.
Concept of entrepreneurship. Basically, entrepreneurship is the procedure that a individual place a new chances for puting up an endeavor to do their dream come true. The figure 1 shows [ ].