Entrepreneurship: what it is, definition, types, characteristics and examples. Undertaking refers to the action of starting a process that involves all the functions, tasks and activities associated with the perception of opportunities and the strategic creation of an organization to achieve them.
Entrepreneurship: what it is, definition, types, characteristics and examples
Entrepreneurship is a term that has been widely used around the world lately. Although entrepreneurship has always been present throughout human history, since it is inherent to it, in recent decades this concept has become extremely important given the need to overcome constant and growing economic problems.
What is Entrepreneurship?
With the term entrepreneurship we identify the effect of undertaking, a verb that refers to carrying out a work or a business. There is no commonly accepted definition of entrepreneurship. Some authors consider it an activity related to the creative destruction of Schumpeter, others have emphasized the discovery of opportunities and others have focused on the creation of new companies. The definition of entrepreneurship involves turning a new idea into a successful innovation using skills, vision, creativity, persistence, and exposure to risk. In short, a venture is any new activity that a person does, which may or may not have the purpose of achieving economic gain. Entrepreneurship is carried out by entrepreneurs.
Concept and Definition of Entrepreneurship
According to Wikipedia , the word entrepreneurship comes from the French entrepreneur (pioneer), and refers to the ability of a person to make an extra effort to achieve a goal or objective, also being used to refer to the person who started a new business. company or project, a term that was later applied to entrepreneurs who were innovative or added value to an already existing product or process, which today has led to the concept of current entrepreneurship.
Types of Entrepreneurship
Entrepreneurship is the process of designing, launching, and managing a new business, usually starting as a small business or start-up, offering a product, service, or process for sale.
Here are some types of entrepreneurship:
Business entrepreneurship is the initiative or aptitude of an individual to develop a business project. Therefore, an idea that generates income that allows him to cover mainly his basic expenses, and that of her family. Entrepreneurial entrepreneurship, as previously stated, has arisen due to the country’s economic crises, which leads the individual to develop innovative ideas in the market that allow them to grow in difficult times. However, entrepreneurship has its advantages, first of all, that of generating income, jobs. Then, it allows the individual to be his own boss, and therefore manage his own time and make his own decisions.
Cultural entrepreneurship can be seen as the generator of companies or cultural organizations with the aim of not losing the meaning, nor the symbolic value of the products and customs belonging to a country.
Social entrepreneurship seeks to meet the needs of the society in which it operates. In addition, social entrepreneurship is a person or organization that attacks community problems, whether social, economic, or cultural. Certainly, a distinction arises between business entrepreneurship as the latter seeks profit for the entrepreneur, while social entrepreneurship seeks solutions that improve society without any financial gain.
There are several key elements or characteristics that the entrepreneur needs to turn ideas into a profitable business:
- Spirit : it is necessary to have a dynamic, creative spirit, oriented to the continuous search for business opportunities: Entrepreneurship is the attitude that allows the entrepreneur to identify an opportunity and fight for it to produce new value or economic success .
- Training : the entrepreneur needs technical knowledge to carry out the business idea.
- Regulatory framework : it moves within a framework of laws that may or may not facilitate the process of moving from ideas to the practice of business creation.
- Financing : you need a system that will finance you to start your activity and guarantee your business.
- Network : Because it is generated in an ecosystem where various actors are involved, but also works in synergy with other entrepreneurs.
Examples of Entrepreneurship
To undertake you need an idea, resources and a lot of tenacity, perseverance and work. We leave you a list of entrepreneurship ideas that can help you start with the main thing: the idea.
- Photography and video for social events
- physical training at home
- Manufacture of scented candles
- soap making
- Food truck
- Web-page design
- Parcel and courier service
- event decoration
- online language course
- Restaurant or family café
- Making ceramic crockery and utensils
- Manufacture of wooden furniture
- Creation of artistic objects
- craft beer production
- mobile app design
- Jewelry design and manufacturing
- artisan bakery
- Design and development of board games
- Textile manufacturing and uniforms
- Gourmet food design and preparation
Concluding, entrepreneurship is that attitude and aptitude of the person that allows him to start new challenges, new projects. Because, it allows you to go one step further, to go beyond where you have already arrived. But, it makes a person dissatisfied with who he is and what he has achieved. As a consequence, he wants to reach greater achievements and start new paths.