https://openlab.citytech.cuny.edu/rowland/unconventional-leadership-the-simon-arias-blueprint/ Entrepreneurship is the process of designing, launching and running a new company, which is often initially a little business. The men and women who make these companies are called entrepreneurs. Entrepreneurship has been described as the "capacity and willingness to develop, organize and manage a business venture alongside some of its risks so as to make a profit". While definitions of entrepreneurship typically revolve around the start and running of businesses, because of the high risks involved in establishing a start-up, a significant proportion of start-up companies must close due to "lack of funding, poor business decisions, an economic crisis, lack of market demand--or even a mixture of all them. Entrepreneurship is the action of becoming an entrepreneur, or "an operator or director of a business enterprise who makes money at danger and initiative". Entrepreneurs act as managers and manage the launch and expansion of an enterprise. Entrepreneurship is the process by which either an individual or a staff defines a business opportunity and acquires and deploys the necessary resources needed for its manipulation. Early 19th century French economist Jean-Baptiste Say provided a broad definition of entrepreneurship, saying that it "shifts economic resources from an area of lower and into a place of higher productivity and greater yield". Entrepreneurs create something fresh, something different--they change or transmute values. Regardless of the business size, large or little, they could partake in entrepreneurship opportunities. Four standards are required by the chance. First, there needs to be opportunities or situations to recombine tools to generate profit. Secondly, entrepreneurship requires differences between individuals, such as accessibility to specific individuals or the ability to comprehend information about opportunities. Third, taking on risk is a necessary. The entrepreneurial process requires the organization of resources and people. The entrepreneur is a factor in microeconomics and the study of entrepreneurship reaches into the job of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries. However, entrepreneurship was largely ignored theoretically until the late 19th and early 20th centuries and empirically until a profound resurgence in business and economics since the late 1970s. From the 20th century, the understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter from the 1930s and other Austrian economists such as Carl Menger, Ludwig von Mises and Friedrich von Hayek. According to Schumpeter, an entrepreneur is someone who is willing and ready to convert a new idea or innovation into a successful innovation. Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to substitute in whole or part poor innovations across markets and industries, simultaneously creating new products including new business models. In this manner, creative destruction is largely responsible for the dynamism of industries and long-run financial growth. The supposition that entrepreneurship leads to economic development is an interpretation of the remaining in endogenous growth theory and as such is hotly debated in academic economics. An alternative explanation typified by Israel Kirzner suggests that nearly all innovations could be more incremental improvements such as the replacement of paper using plastic from the making of drinking straws. http://sharingknowledge.world.edu/4-tips-successful-start/
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