BUSN 1101 Lecture Notes - Lecture 3: Gross Domestic Product, Small Business, Financial Plan
3 Apr 2016
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Document Summary
An entrepreneur is an individual who starts a new business. An entrepreneur is thought as someone who uses resources to implement innovative ideas for new, thoughtfully planned ventures. Someone who identifies a business opportunity and assumes the. Entrepreneur risk of creating and running a business to take advantage of it. Entrepreneurship generally means offering a new product, applying a new technique or technology, opening a new market, or developing a new form of organization for the purpose of producing or enhancing a product. Running a business- a business combines resources to produce goods or services. Entrepreneurship means setting up a business to make a profit. The term risk means that the outcome of the entrepreneurial. Entrepreneurs, therefore, are always working under a certain degree of uncertainty, and they can"t know the outcomes of many of the decisions that they have to make.
