An entrepreneur is someone who organizes, manages,
and assumes the risks of a business or enterprise. An entrepreneur is an
agent of change. Entrepreneurship is the process of discovering new
ways of combining resources. When the market value generated by this new
combination of resources is greater than the market value these
resources can generate elsewhere individually or in some other
combination, the entrepreneur makes a profit. An entrepreneur who takes
the resources necessary to produce a pair of jeans that can be sold for
thirty dollars and instead turns them into a denim backpack that sells
for fifty dollars will earn a profit by increasing the value those
resources create. This comparison is possible because in competitive
resource markets, an entrepreneur’s costs of production are determined
by the prices required to bid the necessary resources away from
alternative uses.
Russell S. Sobel
mercredi 7 mai 2014
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