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 ?
Prince Andrew visited the 3MBC in May to open the Duke of York Young Entrepreneur Centre with the aim of encouraging aspiring businesspeople to take a risk and start their own company.
To enter, young entrepreneurs must be aged between 16 and 30 and have been trading between three and 18 months.
Ernst & Young Entrepreneur Of The Year award winners embrace the entrepreneurial spirit and determination necessary to achieve success," said Rick Fezell, Ernst & Young Entrepreneur Of The Year program director for Northern California.
Greater Los Angeles award winners are eligible for consideration for the Ernst & Young Entrepreneur Of The Year 2006 national program.
Ernst & Young Entrepreneur Of The Year award winners embrace the entrepreneurial spirit and determination necessary to achieve success," said Ben Cohen, Ernst & Young Entrepreneur Of The Year program director for the Northeast Ohio region.
Ernst & Young is proud of its history in recognizing these outstanding leaders and their companies," said Rick Fezell, Ernst & Young Entrepreneur of the Year program director for Northern California.
Ernst & Young Entrepreneur Of The Year award recipients embrace the entrepreneurial spirit and determination necessary to achieve success," said Kent Geer, Ernst & Young Entrepreneur Of The Year program director for the Carolinas.
We played around--um, conducted extensive research--on the Internet, scoped out conferences and camps, and spoke to young entrepreneurs across the nation to determine the best programs, Websites, and other resources for young business owners and aspiring entrepreneurs.
Nominations Now Being Accepted for the Ernst & Young Entrepreneur Of The Year[R] 2009 Award
Participants in the Hangout will get insight from young entrepreneur Sarah Farzam, owner of Bilingual Birdies, a foreign language and live music company that encourages cross-cultural awareness for young children through combining language and music.
The Prudential Young Entrepreneur Program (PYEP) is a three-year pilot entrepreneurial development project funded by the Prudential Foundation, a nonprofit, grant-making organization of the Newark, New Jersey-based Prudential Insurance Co.
Rapp, CEO, received the Ernst & Young Entrepreneur Of The Year([R]) 2007 Award in the electronics category in the Central Midwest region.

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