There are many different definitions of Entrepreneurship.
Entrepreneurship is the process of designing, launching, and running a new business which is often initially a small business. The people who create these businesses are called entrepreneurs.
One who organises and manages any enterprise, esp one involving considerable risk.
– Macquarie Dictionary
A person who sets up a business or businesses, taking on financial risks in the hope of profit.
– Oxford Dictionary
Someone who undertakes a significant project or activity finding new or better ways of doing things; they are opportunity-aware, take risks and utilise a range of behaviours, such as initiative and innovation, that create value and contribute to their success.
– Australian Curriculum, ACARA
Entrepreneurs usually exhibit behaviours including creativity, problem solving, lateral thinking and using initiative. Entrepreneurs are able to think broadly about how to create or run a business today and into the future, taking into account new technologies, sustainability and global perspectives.
Entrepreneurial skills and behaviours include:
- Creating valuable goods/services
- Being able to sell a vision
- Creative problem-solving
- Organisational skills
- Taking risks and managing risk
- Taking action and getting things done
- Working collaboratively
- Working independently
- Being self-aware and believing in yourself
- Good communication skills
- Critical thinking
Entrepreneurs who set up a new business with the main purpose of making money are sometimes called commercial entrepreneurs.
Social entrepreneurs set up businesses with the main purpose of helping a particular group in the society.
Environmental entrepreneurs set up a business with the main purpose of benefitting the environment.