Sustainable Entrepreneurship

CHAPTER 1

Introduction to Entrepreneurship

Definitions of Entrepreneurship

Few topics in the business area have attracted more attention among ­academics and journalists than “entrepreneurship.” From an economic perspective, “entrepreneurship” is generally conceptualized as the creation of a new business and the bearing of the risk associated with that business in exchange for profits to be derived from the exploitation of opportunities in the marketplace (e.g., demands of consumers that are not currently being satisfied). Defined in this manner, entrepreneurship can take a ­variety of different forms. One of the most famous types of entrepreneurship, one that has also become closely aligned with conceptualizations of various forms of entrepreneurship, ...