What is Entrepreneurship? What are the types?

We all know more or less what the word entrepreneurship means. Of course, if what most of us know about this is true and complete, "What is Entrepreneurship?" We wouldn't need to write content with a title.

In this article, instead of reinforcing the ubiquitous concept of entrepreneurship , we will approach its origins .

In other words, an evaluation not only of the word meaning of entrepreneurship, but also of its social and economic place awaits you.

In addition, we will provide information about entrepreneurship supports.

Entrepreneurship is, in modern economic theory, one of the four resources that seem necessary for production . Fundamentally, the resources required for economic production are as follows:
  • Natural resources / soil
  • Labor
  • Capital
  • entrepreneurship
By assuming the risk of a business, the entrepreneur combines the capital he finds or owns with the workforce and the resources he needs. Thus, production takes place.

In other words, entrepreneurship can be seen as providing added value to the economy by creating production and innovation in search of profit.

What is the Origin of the Concept of Entrepreneurship?

Although entrepreneurship is a concept that has existed for centuries, economists did not include entrepreneurs and entrepreneurship in their economic models until the mid-1900s . The main reason for this was the assumption that all actors in the economy had access to completely rational and perfect information.

But in the real world, economic actors are not entirely rational and do not have access to perfect information . For this reason, the models prepared with this logic could not achieve the desired results .

It was necessary to take into account the uncertainty in the economy and social structure , and therefore, the people who would eliminate this uncertainty and undertake the risk should also be included in the models.

At this point, the concept of entrepreneurship began to take place in modern economic models.

What are the Types of Entrepreneurship?

There are many different types of entrepreneurship. We can list the prominent ones as follows:
  • Social Entrepreneurship
  • Internal Entrepreneurship
  • Innovative Entrepreneurship
  • Creative Entrepreneurship
  • Opportunity Entrepreneurship
  • Public Entrepreneurship

Social Entrepreneurship

Social entrepreneurship is the name given to initiatives made to solve social and societal problems. It is done to find solutions to income inequality, food problems, social inequalities, discrimination and similar issues.

Some social enterprises do not expect income or profit. But solving social problems does not mean that the purpose of making a profit is completely lost . Entrepreneurs who find solutions to social issues can also do this with the aim of making a profit.

Internal Entrepreneurship

Intrapreneurship is the name given to the initiatives made within any company or organization with their own resources and resources. Basically, one or a group of intrapreneurs are assigned to bring about innovations within the organization . These people can also create internal initiatives by using their own authority without being officially appointed.

Innovative Entrepreneurship

Innovative entrepreneurship, also known as innovative entrepreneurship , is the name given to entrepreneurship using the opportunities arising from innovations. In this type of entrepreneurship, entrepreneurs aim to create innovations by focusing on research and development processes. Thus, an innovation is achieved and it is aimed to profit from this innovation.

Creative Entrepreneurship

Creative entrepreneurship is the name given to entrepreneurship in one of the creative and artistic industries. Painters, singers, actors and similar artists who have established their own businesses can be given as examples of creative entrepreneurs.

Opportunity Entrepreneurship

Before any new product, service or technology enters the market, identifying and evaluating the opportunities that will arise from this movement is opportunity entrepreneurship. In the most general definition, the person who sees and evaluates the opportunities in the market is called the opportunity entrepreneur .

Public Entrepreneurship

In public enterprises, the resources and capital required for the enterprise are provided by a public institution, not by a particular individual or private company.

Public entrepreneurs , on the other hand, are people appointed by public institutions to establish and manage these new ventures .

Usually these public initiatives are initiatives to improve government-provided services, provide new services to citizens, or create new sources of income for the country.

What are the characteristics that entrepreneurs should have?

People who want to be entrepreneurs need to have many different skills and characteristics. We can list some of the features that many entrepreneurs have in common as follows:
  • Versatility
  • Team work
  • Persuasion skill
  • Critical Thinking


Entrepreneurs may have to undertake many different tasks throughout their business life. Depending on the status of their ventures, they may sometimes need to take on technical tasks, take on human resources duties, handle financial situations or develop marketing strategies. For this reason , it is important that they have knowledge on many different subjects and have versatile competencies.

Team work

No matter how successful or talented an entrepreneur is, it is unlikely that he will be able to work on his own throughout his career. If he wants to grow his business, he will definitely need to work with other people. For this reason, the tendency of entrepreneurs to teamwork is important.

Persuasion skill

Entrepreneurs will need to persuade many people at various points in their careers, such as investors, agencies, potential clients, business partners and so on. Therefore, it is important for entrepreneurs who want to be successful to have a strong persuasion ability .

Critical Thinking

Critical thinking ability is the name given to the ability to analyze, weigh and evaluate a situation from different perspectives.

Entrepreneurs encounter many different perspectives, situations, and people throughout their careers. It is very important for them to be able to think critically in order to see their own mistakes, correct them and improve when appropriate.

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