Description: What is Entrepreneurship?:- The process whereby an individual or group of individuals use organized efforts to pursue opportunities. To create value and grow by fulfilling wants and needs through innovation and uniqueness–regardless of personal resource situation. Small Business and Entrepreneurial Ventures – The Differences: Small Business–Independently owned, operated, and financed, has fewer than 100 employees, doesn’t engage in new or innovative practices, Has relatively little impact on its industry.
Entrepreneurial Ventures–An organization pursuing opportunities, Characterized by innovative practices, Main goals are profitability and growth.