Definition of Terms Essay

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Eira Janelle Marquez Mgt 429 Mr. Reynaldo C. Navacilla, EnP, RPA MWF 6:55-7:55 T503 DEFINITION OF TERMS 1. Entrepreneurship Entrepreneurship is the development of a business from the ground up — coming up with an idea and turning it into a profitable business. But while the definition of entrepreneurship may be simple, its execution is much more difficult. "Entrepreneurship is the journey of opportunity exploration and risk management to create value for profit and/or social good," said Ajay Bam, a lecturer at the Lester Center for Entrepreneurship at the University of California, Berkeley's Haas School of Business. Bam said entrepreneurship entails recognizing the right opportunity, finding resources — such as funding and tools — to pursue the opportunity and creating the right team to do so. People who are thinking about starting their own business must really be aware that successful entrepreneurship involves much more than having a great concept, said Elizabeth Amini, CEO and co-founder of Anti-Aging Games LLC, a company that develops online games to train memory and focus, and an adjunct professor at the University of Southern California's Marshall School of Business. Entrepreneurship is the willingness to take risks and develop, organize and manage a business venture in a competitive global marketplace that is constantly evolving. Entrepreneurs are pioneers, innovators, leaders and inventors. They are at the forefront of technological and social movements – in their fields, in their forward thinking, in their desire to push the envelope. They are dreamers and most importantly – doers. 2. Entrepreneur An entrepreneur is someone that creates a new

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