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This comprehensive overview explores key entrepreneurship and small business concepts and theories. It defines 'entrepreneur' and 'entrepreneurship', highlighting its features as an art of correct practices, a wealth-creating venture, and a risk-taking endeavor. The document then examines various entrepreneurship theories, including innovation, Keynesian, and risk/uncertainty-bearing theories. It also explores the differences between entrepreneurship and ordinary small business activities, examining factors like motive, risk perception, and vision for growth. This resource offers valuable insights for students, researchers, and aspiring entrepreneurs.
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SMALL BUSINESS
LESSON 2:
SALIENT FEATURES OF ENTREPRENEURSHIP 1.IT IS AN ART OF CORRECT PRACTICES 2.IT IS A WEALTH CREATING VENTURE 3.IT PROVIDES VALUABLE GOODS AND SERVICES 4.IT ENTAILS OPENING AND MANAGING THE SELF-OWNED ENTERPRISE 5.IT IS A RISK-TAKING VENTURE
THEORIES ON ENTREPRENEURSHIP
RISK AND UNCERTAINTY BEARING THEORY
LESSON 4: ENTREPRENEURSHIP AND ORDINARY SMALL BUSINESS ACTIVITY
ENTREPRENEURSHIP AND ORDINARY SMALL BUSINESS DIFFER IN THE FOLLOWING AREAS: