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An entrepreneur is the driving force behind any business. This lesson explores what entrepreneurs do, the skills and characteristics they need, and the importance of entrepreneurship to the economy.
An entrepreneur is a person who takes the financial risk of starting, running, and managing a new business venture. Entrepreneurs identify opportunities, organise resources, and accept the risk of failure in the pursuit of profit.
| Term | Definition |
|---|---|
| Entrepreneur | A person who starts and runs a business, taking on financial risk in the hope of profit |
| Intrapreneur | An employee within a company who acts like an entrepreneur, developing new ideas internally |
| Enterprise | The ability and willingness to develop, organise, and manage a business venture along with its risks |
| Innovation | Turning a new idea into a product or service that customers want to buy |
| Invention | Creating something entirely new that has never existed before |
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