Entrepreneurship

“Entrepreneurship is the pursuit of opportunity beyond resources controlled.”This definition of entrepreneurship has remained a standard for Harvard Business School since the 1980s. It was defined by Howard Stevenson, a professor at Harvard and an expert in entrepreneurship.

This definition aptly describes the entire process of starting a new organisation. It covers the designing and planning stages, the execution of the idea and the ever present possibility of running into a loss. But when successful, entrepreneurship is very beneficial.

Entrepreneurship brings innovations that can change the way we live, making our lives much easier. These can sometimes lead to the creation of a whole new market. Success of these goods and services brings in a lot of employment opportunities. Entrepreneurs inspire others to start their own businesses, exponentially increasing the number of jobs, furthering economic growth.