entrepreneur

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Entrepreneur

A person starting a new company who takes on the risks associated with starting the enterprise, which may require venture capital to cover start-up costs.

Entrepreneur

The possessor or owner of a for-profit organization. The term is usually applied to small business owners, who bear the majority of the risk and reap the most benefit from a company. It can also relate to (individual) majority shareholders who are involved in the operation of his/her business. Entrepreneurs are generally accepted as integral to the success of a capitalist system.

entrepreneur

A risk-taker who has the skills and initiative to establish a business.

entrepreneur

a person who undertakes the risks of establishing and running a new business. Entrepreneurs are characterized by their initiative and enterprise in seeking out new business opportunities; inventing and commercializing new goods and services and methods of production. See VENTURE CAPITAL, INDUSTRIAL POLICY, INTRAPRENEURIAL GROUP, MANAGEMENT BUYOUT.

entrepreneur

an individual who assembles and organizes FACTORS OF PRODUCTION to undertake a venture with a view to PROFIT. The individual may supply one or more of the three factors of production (NATURAL RESOURCES, LABOUR, CAPITAL) himself or may hire or buy any or all factors in the expectation of future profits. The entrepreneurial function is sometimes called a . fourth factor of production.

The entrepreneur was seen in the 19th century as an individual proprietor who supplied most or all of the factors of production but especially managerial expertise. The advent of the JOINT-STOCK COMPANY led to the division of management and the supply of capital, so that the term ‘entrepreneur’ became a more hypothetical abstract term attached to any individual or group who performs the risk-bearing and organizing functions above. The traditional THEORY OF THE FIRM suggests that entrepreneurs attempt to maximize profit, but since the 1930s there has been growing awareness that the DIVORCE OF OWNERSHIP FROM CONTROL in large joint-stock companies influences the behavioural attitudes of groups of individuals within organizations, which may lead to corporations following objectives other than PROFIT MAXIMIZATION. See BEHAVIOURAL THEORY OF THE FIRM, MANAGERIAL THEORIES OF THE FIRM, RISK AND UNCERTAINTY.

entrepreneur

One who assumes risk in order to combine knowledge, capital, and resources to create a venture that will hopefully return a profit.

References in periodicals archive ?
Since its inception, Zell Lurie has been leading the way in entrepreneurial education.
To further stimulate the entrepreneurial education and network at U-M, the Zell Family Foundation also created ZEAL (the Zell Entrepreneurship and Law Program) at the Law School in 2011.
Venture Highway offers an integrated learning suite designed to elevate the entrepreneurial education classroom experience.
The alliance is intended to spur economic development through small business growth, and to improve entrepreneurial education that advances greater access to capital, expanded technical assistance and access to procurement programs.
This can be done through a solid technical and entrepreneurial education, supporting innovative projects with efficient incentives and programmes and by getting rid of bureaucratic or anticompetitive obstacles to innovative initiatives, he said.
This meeting was a good first step in developing an important relationship in entrepreneurial education between the engineering program at MIT and the entrepreneurial and engineering programs at the University of Nevada, Reno, said Chris Howard, executive director of the Ozmen Center for Entrepreneurship.
EIT Digital will contribute to the collaboration its network, expertise and assets for Entrepreneurial Education and Innovation.
CBE dean Dr Nitham Hindi shed light on the college's efforts to develop entrepreneurial education, culture and research.
Iiced will be an international focal point which brings together international experts in entrepreneurial education to engage in high-level discussions and to consider global perspectives that can impact, or have impacted, on policy-making.
Sample events hosted by the AVC include 1 Million Cups, a weekly networking and entrepreneurial education program from the Kauffman Foundation; monthly women founders meetups; weekly sessions with startup mentors; and other training sessions and technology workshops.
Demand-driven technical education, they remarked, along with entrepreneurial education in curriculum is considered as a solution to youth unemployment.
The programmes and activities of the World Entrepreneurship Forum focus on four key pillars: Creating innovative and high-growth companies for job creation; Developing entrepreneurship at the bottom of the pyramid to alleviate poverty and create new markets; Shaping entrepreneurial cities; and Implementing entrepreneurial education.

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