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Entrepreneurship is the process of coming up with new processes or ways of achieving some set
objectives. Mostly it will involve the production of goods and services. It requires some ingenuity coupled with a lot of time and effort. There are risks involved in this process and they all have to be assumed. With the risks come rewards that are derived by the person who has come up with the new process.
An entrepreneur on the other hand refers to someone who devises a new way of looking at things and producing output out of the new concept. Given an existing technology or some kind of invention, the entrepreneur will come up with a process that will utilize the available tools and technologies to produce a good or a service that will add value to the economy and benefit both him and the society. He is one who takes the risk of the success or failure of the new venture and will also stand in to reap the rewards.
skymucdan answered the question on October 11, 2017 at 07:40
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