Entrepreneurship: Theory, Process, and Practice 10th Edition by Donald F. Kuratko Test bank

 
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Entrepreneurship is ability to create and build a vision from practically nothing: fundamentally it is a human, creative act.  It is the application of energy to initiating and building an enterprise or organization, rather than just watching or analyzing.  This vision requires a willingness to take calculated risks—both personal and financial—and then to do everything possible to reduce the chances of failure.  Entrepreneurship also includes the ability to build an entrepreneurial or venture team to complement your own skills and talents.  It is the knack for sensing an opportunity where others see chaos, contradiction, and confusion.  It is possessing the know-how to find, marshal, and control resources (often owned by others).