What is entrepreneurship?

Entrepreneurship is the act of starting a business in the hope of earning a profit. However, our modern perception of entrepreneurship has evolved into recognizing its ability to solve large-scale problems and influence social change. Entrepreneurs may also become though leadership in their fields, although this isn’t necessarily a distinguishing factor of someone in this role, but it can be a natural outcome.

Entrepreneurship Roles

Entrepreneurship also plays an important role in the economic development of our vibrant marketplace. It leads to better standards of living and generates new wealth, as well as increased employment and national income. Entrepreneurs also have the opportunity to help bridge the digital divide, the gap between those with access to internet and those without.

With technological advancements and market demand for new business ideas and innovation, the practice of entrepreneurship is growing rapidly. Today, more and more self-motivated individuals are looking to become fully independent in their professional lives and are aspiring to create their own future.

Entrepreneurs initiative

Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good new ideas to market. Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities. Entrepreneurship that fails results in losses and less prevalence in the markets for those involved.

Creative entrepreneurship

The creative entrepreneurship minor aims to prepare students for a professional life where constant change is the norm and where their own musical, creative, and entrepreneurial instincts will provide the best roadmap to agility, adaptability, and success. Students will learn to tap into their instincts as improvisers, collaborators, inventors, and listeners, and see how they can apply these abilities to a successful career in the entertainment industry and beyond.

Entrepreneurship Responsibility

Founders are often the first chief executive officers of their startup. The founder will be responsible for seemingly endless decisions ranging from hiring and firing to product design and purchasing commercial insurance. The founder may, at times, be the visionary who lays out the mission of the company. But at other times, he or she will be mired in the unglamorous tasks of regulatory compliance, tax and financial reporting, and other tedious but necessary duties.

Entrepreneurship Accommodation

As an academic field, entrepreneurship accommodates different schools of thought. It has been studied within disciplines such as management, economics, sociology and economic history. Some view entrepreneurship as allocated to the entrepreneur. These scholars tend to focus on what the entrepreneur does and what traits that an entrepreneur has. This is sometimes referred to as the functionalistic approach to entrepreneurship. Others deviate from the individualistic perspective to turn the spotlight on the entrepreneurial process and immerse in the interplay between agency and context. This approach is sometimes referred to as the processual approach, or the contextual turn and approach to entrepreneurship.

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