ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurship is the practice of starting new organizations, particularly new businesses generally in responses to identified opportunities. Entrepreneur is often synonymous with founder.

Detailed explanation-2: -Entrepreneurship is when an individual that has an idea acts on that idea, usually to disrupt the current market with a new product or service. Entrepreneurship usually starts as a small business but the long-term vision is much greater, to seek high profits and capture market share with an innovative new idea.

Detailed explanation-3: -Essentially, entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk.

Detailed explanation-4: -Entrepreneurship, according to Onuoha (2007), “is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities”.

Detailed explanation-5: -Innovation refers to an individual or organization creating new ideas, such as new products, workplace processes and upgrades to existing services or products. In business, innovation can promote growth, help ensure the organization can compete with new market trends and help generate profit.