Understanding Entrepreneurship

Entrepreneurship refers to the capacity and readiness to plan, set up and manage a business venture, including all of its potential risks, for making a profit. It is broadly categorized into four types, namely, scalable startups, social entrepreneurship, small businesses, and large companies or intrapreneurship. Some of the important entrepreneurial qualities are innovativeness, passion, ethics, risk taking, ability to lead and perseverance. Entrepreneurship involves identifying patterns, especially when those patterns point to a business opportunity. Setting precise goals for the new business venture is a part of entrepreneurial management. It involves applying entrepreneurial knowledge to improve the efficiency of small and medium-sized firms as well as new company ventures, which are part of the entrepreneurship ecosystem. This book covers in detail some existent theories and innovative concepts revolving around entrepreneurship. For all those who are interested in entrepreneurship, it can prove to be an essential guide.