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

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?

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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