So when people talk about entrepreneurship, what do they have in mind? Lets look at this person called an entrepreneur. Entrepreneur is someone who exercises initiative by organizing a venture to take benefit of an opportunity and as the decision maker decides what, how, and how much of good or service will be produced.
An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor. a partner, or the one who owns the majority of shares in an incorporated venture.
Entrepreneurs are not necessarily motivated by profit but regard it as standard for measuring achievement or success.
Entrepreneurs usually:
- Greatly value self-reliance
- Strive for distinction through excellence
- Are highly optimistic
- Always favor challenges of medium risk.