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Entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.
Entrepreneurship means different things to different people. Some imagine tech geniuses with Silicon Valley startups, while others picture small business owners opening up their shop doors on Main Street. Ultimately, entrepreneurship encompasses these and many other business ventures that share a commitment to turning an idea into a profitable business.
In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nations ability to succeed in an ever changing and increasingly competitive global marketplace.
Read more: http://www.businessdictionary.com/definition/entrepreneurship.html
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