Entrepreneurship is one of the resources economists categorize as integral to production, the other three being land/natural resources, labor and capital. An entrepreneur combines the first three of these to manufacture goods or provide services. They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business.
What it’s like:
- Develop, design, produce, market, and eventually sell businesses with the end goal of financial profit
- Exercise good judgement in solving complex problems related to all aspects of business
- Manage product distribution delays
- Mediate disputes between employees
- Manage payroll and other managerial office duties