Entrepreneurship

Entrepreneurship is the formation or extraction of economic value by identifying and commercializing opportunities to deliver products or services, a process that typically requires considerable initiative and bears risk. This process may also encompass the pursuit of values that extend beyond mere economic considerations. The term entrepreneur refers to a person who makes and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is also referred to as "entrepreneurship". The entrepreneur is often regarded as an innovator, a source of latest ideas, goods, services, and business procedures. Narrower meanings of entrepreneurship include the process of designing, launching, and operating a new business, often similar to a small business, or as the "capacity and willingness to develop, organize, and manage a business venture along with any of its risks to make a profit". Individuals who create these businesses are often referred to as "entrepreneurs". In the field of economics, the term entrepreneur is used for an entity that has the ability to translate inventions or technologies into products and services. In this sense, entrepreneurship encompasses the activities of both established firms and startups. I read an article yesterday about a man, who was a TikToker, used to be a petrol engineer. Now, he upgraded himself and became a successful entrepreneur(or businessman), who founded an app. He also does something special, he sold his Mercedes Benz which costs an arm and a leg! That is so wonderful! I feel glad when I read this.