Define the term entrepreneurship as applied in business and briefly describe what it entails?

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From the definition of the word entrepreneurship, that is Entrepreneurship is the process of identifying opportunities in the marketplace, arranging the resources required to pursue these opportunities, and investing the resources required to achieve the opportunities for long-term gains. The resources involve the products, new production methods, new markets, and new forms of organization. Entrepreneurship involves identifying what needs to be done taking action and benefiting from it.

An entrepreneur is a person who organizes operates and assumes the risk for a business venture.

Entrepreneurship is the process of identifying opportunities in the marketplace, arranging the resources required to pursue these opportunities, and investing the resources required to achieve the opportunities for long-term gains.

joseph irungu answered 2 years ago

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