What is the definition of an entrepreneur?

The definition of an entrepreneur centers around the identification and pursuit of business opportunities. Entrepreneurs are individuals who not only recognize a gap or need in the market but are also willing to take risks and innovate to create a business that fills that gap. This characteristic of taking initiative and forming new ventures is essential to the entrepreneurial spirit.

In contrast, business managers, those working for large corporations, and individuals who study market trends do not fundamentally embody the same proactive quality associated with entrepreneurship. While managers may oversee operations and finances, their role typically involves executing established plans rather than creating new opportunities. Employees in large corporations may contribute valuable ideas but are generally less involved in the risk-taking aspects that define entrepreneurship. Lastly, studying market trends is an important function that informs business strategies; however, it does not equate to the innovation and risk-bearing elements inherent in entrepreneurship.