Entrepreneurship and Small Business Management

Entrepreneurship Concept

• Entrepreneurship is the process of designing, launching, and running a new business or venture, often characterized by innovation, risk-taking, and uncertainty.

Characteristics of Entrepreneurs

• Entrepreneurs are typically proactive, adaptable, and resilient individuals with a strong passion for their business idea.
• They possess a willingness to take calculated risks and face challenges head-on.
• Entrepreneurs are often characterized by their creativity, innovation, and ability to think outside the box.

Who Can Be Considered an Entrepreneur?

• Anyone who starts and runs their own business, regardless of its size or industry, can be considered an entrepreneur.
• This includes small business owners, freelancers, and solo founders, as well as founders of large corporations.

Importance of Entrepreneurs

• Entrepreneurs play a vital role in driving economic growth, creating jobs, and innovating products and services that improve people's lives.
• They contribute to the development of new markets, industries, and opportunities, which can lead to increased competitiveness and innovation.

Entrepreneur vs. Manager

• While managers focus on maintaining and optimizing existing systems and processes, entrepreneurs focus on creating new ones.
• Entrepreneurs are more likely to take risks, adapt to change, and innovate, whereas managers tend to maintain the status quo and minimize risks.