ENTREPRENEURSHIP

Detailed explanation-1: -The textbook definition of entrepreneur speaks to that classic perception. Consider, for example, Merriam-Webster’s definition that explains entrepreneur as “one who organizes, manages, and assumes the risks of a business or enterprise."

Detailed explanation-2: -An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise.

Detailed explanation-3: -An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. An entrepreneur: Sees an opportunity. Makes a plan. Starts the business.

Detailed explanation-4: -Traditionally, an entrepreneur has been defined as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk“.

Detailed explanation-5: -The entrepreneur is the person who organizes, manages, and assumes the risks of a firm, taking a new idea or a new product and turning it into a successful business. Product or output markets are the markets in which goods and services are exchanged.