entrepreneurship
Definition
The capacity and willingness to develop, organize and manage a business
venture along with
any of its risks in order to make a profit. The most obvious example of
entrepreneurship is the starting of new businesses.
In economics, entrepreneurship combined with land, labor, natural
resources and capital can produce profit. Entrepreneurial spirit is
characterized by innovation and risk-taking, and is an
essential part of a nation's ability to succeed in an ever changing
and increasingly competitive global marketplace.
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