What is business entrepreneurship?Where is it mostly used?

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kipling2448 eNotes educator| Certified Educator

A business entrepreneur is any individual who starts and operates a business while assuming the risks associated with any such venture (e.g., using one's own collateral in exchange for start-up financing from a lending institution). Entrepreneurship over the last thirty years has often been associated with the computer industry, as the development of early generation desktops by Andy Kay, whose Non-Linear Systems company introduced the Kaypro desktop computer, Adam Osborne, whose self-named desktop was the first home desktop on the market, and, on a far grander scale, Steve Jobs and Steve Wozniak, who developed the Apple computer, revolutionized the data processing and information industries.

While the titans of the desktop computer industry have been the most prominent to adorn the label of "entrepreneur," the moniker can be applied to many other types of businesses. One of the most important entrepreneurs in American history was Henry Ford, who revolutionized the transportation industry and American society through the development of the means of mass producing cars at a reasonably economical level. While one can certainly take issue with Ford's treatment of his labor force in the early years of the Ford Motor Company, and one can definitely take issue with Ford's sympathies with respect to the rise of Nazi Germany (he was a supporter of Adolf Hitler's theories on race and of the German dictator's broader societal policies), there is no question that Ford was a great entrepreneur.

Entrepreneurship exists in virtually every sector of economic activity. It is difficult to suggest that there is one specific field of endeavor in which it is most prominent. An argument can, however, be made for the information technology sector.

krishna-agrawala | Student

Entrepreneurship refers to qualities and actions of individuals that involve taking the risks of venturing in to new and unknown areas of work. It generally involves creating or setting up new enterprises that engage in kind of activities that are significantly different in some way from those of other enterprises around it.

Business entrepreneurship is simply entrepreneurship practiced in business. Business entrepreneurship is simply entrepreneurship practiced in business, and one who practices entrepreneurship in business is called an entrepreneur. Joseph Schumpeter defines entrepreneur as individuals who develop and implement new combinations of the means of production. He believed entrepreneurship to be fundamental to economic development. Similarly, Peter F. Drucker also considers innovation and entrepreneurship very important for promoting well being in a society. He suggests that managers must make innovation and entrepreneurship an ongoing activity in their own work and in that of their organization. This kind of entrepreneurship practiced within the sphere of existing organizations is some times referred as intrapreneurship.

Successful entrepreneurship is frequently associated with certain individual characteristics. Characteristics of the economic environment within which an entrepreneur operates also has major impact on development and success of entrepreneurship. The individual characteristics associated with successful entrepreneurs include innovative approach, will and energy to persist in face of difficulties, and the vision of desired achievements.

karenn1617 | Student

Entrepreneurship is the modern day word which being commonly for the businessmen around the world. In better understanding, an Entrepreneur is the one who work towards his or her business acumen, which is not limited to one single task but accompanied by number of tasks all around.

Talking now in particularly about Business Entrepreneurship - it means that the way, the different tasks count in towards the business. The tasks here specifically termed to be as either a management tasks, financial tasks, sales and marketing tasks and so on.

Trying to make it understand with a quick example, say if I am running a business, I will be involved either by number of tasks, which will be either taken care by me or by the group of individuals I hired.

ssselmo | Student

I am going to put in a simple form it is a person who works for themselves in the business enviroment

example could be an owner of a DJ firm or of a small resturant

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