What is entrepreneurship?
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What Does entrepreneurship Mean
Entrepreneurship is a term that is not part of the dictionary of the Royal Spanish Academy ( RAE ). However, it is often used frequently in the field of entrepreneurship and business.
Entrepreneurship is considered as the evolution of entrepreneurship, entrepreneurship or entrepreneurship . In other words: if entrepreneurship prospers, the stage of entrepreneurship arrives. This is because the initial venture is transformed into a working business .
Entrepreneurship allows a business fabric to develop and entrepreneurs to acquire the necessary skills to position themselves as entrepreneurs, assuming responsibilities and enjoying the benefits that this implies. That is why the notion is linked to multiple aspects, from economic to legal through psychological and social.
It can be said that entrepreneurship is the process that involves starting a new company . The person who promotes the project has to be in charge of organizing the resources available to be able to provide services or offer products in the market .
Given that these are the first steps of the company, entrepreneurship requires managing itself in a context of uncertainty and with various types of risks. It is important that the entrepreneur / entrepreneur be clear about his goals and be persistent to stimulate the growth of his business and achieve its consolidation.
For progress to be possible and entrepreneurship to advance successfully, it is essential that the entrepreneur be trained. The acquisition of knowledge is key to minimize the chances of failure and to optimize daily practices.
Having said all this, we must point out that the concept of entrepreneurship is often associated with small and medium-sized companies , as well as with independent entrepreneurs. This means that we usually see this term in relatively modern contexts, in recent company histories.
However, this does not mean that if we analyze the emergence of companies founded many decades ago we notice so many differences in practice: many of them started with a brilliant idea, little capital and one or two people at the helm. The difference is that at that time concepts like this were not used, which today help to trace those first steps because they are accompanied by opportunities, both for training and financial support.
The idea is the seed of any venture. Of course, only at this point we can spend days, months or years: an idea is not enough, not even an excellent or innovative one, but a good plan to bring it to reality. Just take a look at any list of products and services that have failed in the history of the market to see that many of the ideas on which they were based were ahead of their time; the problem, in general, is in the execution .
If we think about it this way, entrepreneurship exists independently of the destiny of the company: whether it succeeds or fails outright, its emergence takes place and consists of a long process of several complementary steps. In the best of cases, it should be based on a competitive advantage , that is, on a characteristic that puts it ahead of other companies, to capture the public's attention with greater intensity.
The characteristics of a true competitive advantage so that entrepreneurship can flourish are the following:
* must be unique, or at least distinguished from another that resembles it. For example: a technology that does not have the competition, or a better version;
* it must be possible to maintain it in the long term;
* the superiority that you confer on the company that holds it must be remarkable;
* must be applicable to different situations within the market. For example: if technology attracts consumers with varied interests and not just a small group.