Entrepreneurship: Answer to 3 important questions around it
Entrepreneurship is been a trending topic for some years. It is a word that you can easily relate to wealthiness, academy, young people, dreams, networking, and even UNICORNS!
But even being that trendy, there are several definitions of entrepreneurship. These are some of them:
What is Entrepreneurship?
According to Professor Howard Stevenson, from Harvard University, “Entrepreneurship is the pursuit of opportunity beyond resources controlled.” Another definition from Ryerson Entrepreneur Institute says that “Entrepreneurship is a multi-dimensional concept that includes owning a small business (Risk Theory), being innovative (Dynamic Theory), acting as a leader (Traits School) or starting up a new company (Behavioural School)”
Also in Entrepreneur Handbook, it can be found that “Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.”
Finally, a more poetic definition taken from Oberlo would be “Entrepreneurship is what people do to take their career and dreams into their hands and lead it in the direction they want.”
Which are the differences between Entrepreneurship and Business?
A business might be based on a concept that is not original or unique
Entrepreneurship intends to make profits but with the purpose of making a difference
The primary goal of a business is making profits.
Entrepreneurship skydives into risks.
A business takes calculated risks.
Entrepreneurship should have a vision that extends beyond the present and into the future.
Businesses are more concerned about everyday operations.
Can entrepreneurship be taught?
According to Marcos Simón, Founder and CTO of Audioscenic,
“Entrepreneurship can be taught, I think, yes, I think the best way to learn it is by doing it. But even when you're doing it, the best way to learn it is from a person that has done what you've been doing before. Somebody like a mentor, so it's important that you get a mentor and that you just keep on looking until you find the right person. Once you find the right person, he or she will help you a lot” On the other hand, according to Dr. Badwan, Program Leader & Lecturer in Computer Systems and Innovation at the University of Winchester:
“Yes we can definitely teach entrepreneurship in fact research findings demonstrate that one of the best ways to teach entrepreneurship is by using mentorship practices in the classroom”