ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurship is the willingness and ability to establish, organise and manage a business and take financial risks to make profits. An Entrepreneur is an innovator who brings in new ideas to create a successful business venture.

Detailed explanation-2: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.

Detailed explanation-3: -A person who undertakes the risk of starting a new business venture is called an entrepreneur. An entrepreneur creates a firm to realize their idea, known as entrepreneurship, which aggregates capital and labor in order to produce goods or services for profit.

Detailed explanation-4: -Management vs Entrepreneurship The main feature that distinguishes these two words is the entrepreneur is the owner of the company and bears both profit and loss, whereas, the management operates and runs the company with the help of various administrative functions.

Detailed explanation-5: -Entrepreneurship Development is a practice meant to improve entrepreneurial skills among people. In other words, it is the inculcation, advancement, and grooming of entrepreneurial skills into a person needed to establish and successfully run an enterprise.