Entrepreneurship defined

Here’s a good definition of ‘entrepreneurship’ from Howard Stevenson at Harvard University:

“Entrepreneurship is the pursuit of opportunity beyond the resources you currently control.”

Managers manage assets, entrepreneurs manage opportunity, and instead of taking risk, they manage it. Opportunity arises out of a change in the competitive environment, whether it is due to legal, social, regulatory, or other influences.

One response to “Entrepreneurship defined

  1. Love this definition…..simple but yet sums it all up.

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