Entrepreneurship and Business Development

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What is Entrepreneurship and Business Development?

An entrepreneur is a person who creates small businesses. Entrepreneurs are calculated risk-takers---they strive to maximize potential of their venture while simultaneously minimizing risk. They are able to recognize opportunities as they arise and create goods or services in order to take advantage of the opportunity before competitors catch on to it. Entrepreneurs may create new products or services, improve on current products or services, or simply find a new way to market existing products or services (Michael Paul, University of Wisconsin)

Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled. The American Heritage Dictionary defines an entrepreneur to be "a person who organizes, operates, and assumes the risk for business ventures." (www.jbv.com, 9/07)

Related Career Titles

Accountant

Bank Teller

Business Broker

Business Loan Officer

Chief Executive

Director

Financial Advisor

Insurance Agent

Investment Advisor

Investor

Manager

Project Manager

Owner

President

Public Relations

Real Estate Agent
Sales Manager

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Related Major Skills

Because they often run new ventures themselves, entrepreneurs must know how to operate every aspect of their business. Typically, this includes the areas of: