Last modified on August 21, 2025, at 14:11

Entrepreneurship

Steve Jobs was the entrepreneur who founded Apple.

Entrepreneurship is the creativity of individuals to dream up and create new products that people knew they wanted or needed. It is an essential part of capitalism. [1] It is this ability that leads to the creating of a profitable new business venture. Someone skilled in entrepreneurship is called an entrepreneur. Innovation is also a big part of entrepreneurship. In a highly competitive world innovative ideas are what will separate the entrepreneurs from the rest. As innovation is key to create an outstanding product, strong brand and to build a customer network. [2]

Studies have shown that entrepreneurs rate themselves as happier than just about any other job category. This is because their businesses allow them to earn their own success and it’s this success that makes them happy. [3]

Another one of the advantages of entrepreneurship is that one is not subject to the capriciousness of a supervisor/manager/employer when it comes to career advancement and success. In addition, one is not hampered by a lack of formal education in a given area before one pursues it.

Benefits of entrepreneurship to an economy

See also: Job creators and Innovation and Diversification and Investment and Venture capital

"Entrepreneurs benefit the economy by creating new jobs, introducing innovative products and services, attracting investments, driving economic growth through increased consumer spending, and fostering competition, ultimately contributing to a higher GDP and overall economic prosperity.[4]

Source: Benefits of entrepreneurship to the economy

Defining characteristics and types of entrepreneurship

Skills and characteristics of entrepreneurs

Benjamin Franklin was an entrepreneur.

Videos:

Historical

The word entrepreneur is from the French: "entrepedre" to undertake, and originally applied to the director of a musical institution before the meaning broadened to its modern application. Joseph Schumpeter, in his classic work Capitalism, Socialism, and Democracy, to explain the function of the entrepreneur sometimes used his native German term, "undertaker" or undertaker of an enterprise, which didn't translate well into English. President George W. Bush once famously remarked: "The trouble with the French is they don't have a word for 'entrepreneur.'"

Benjamin Franklin was a successful entrepreneur, diplomat, writer, policy maker, polymath and one of our founding fathers.

Books

Quotes

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” - Henry Ford.

See also

External links

General:

Other articles:

Magazine for entrepreneurs:

Videos:

References

  1. ↑ https://www.prageru.com/video/if-you-hate-poverty-you-should-love-capitalism/
  2. ↑ https://startupistanbul.com/blog/2015/03/the-importance-of-innovation-in-entrepreneurship/
  3. ↑ https://www.prageru.com/video/the-promise-of-free-enterprise/
  4. ↑ Benefits of entrepreneurship to the economy