What Entrepreneurship Is And The Advantages Of Being Or...

Introduction This assessment will be concentrating on what entrepreneurship is and the advantages and disadvantages of being or becoming an entrepreneur. Despite having many definitions in literature, the core elements of the entrepreneurship can be underlined as risk and profit. The entrepreneur is an agent who needs to measure and tackle the risks; in return the entrepreneur gets the profit or has to face failure. The success of the entrepreneur depends heavily on the way he plans the business. The outcome can be rewarding as well as failure. Everyone desires to become an entrepreneur, but unfortunately not every one is and there are many reasons for this, which you will find in the following discussions. Being an entrepreneur in basic terms is making more capital then for what was initially paid for, but of course there are many drawbacks to this for example, the amount of research required, the amount of capital is required, management and many other point to look at before the business has began, this will allow you to understand why it is not possible for every individual to become an entrepreneur. The concept of entrepreneurship is a long time in business and economics appears to be used. French economist J. B Say entrepreneurship was recognized as the fourth factor of production. Thus classic production factors of labour, capital and natural factors have been included to entrepreneurship (Mà ¼ftà ¼oÄŸlu ve Durukan, 2004). 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