Briefly explain Entrepreneurship, the Intrapreneur and risks clements associated with each of these.

### Entrepreneurship **Definition**: Entrepreneurship is the process of creating, developing, and managing a new business venture in order to make a profit. Entrepreneurs identify market opportunities and leverage their resources to innovate and bring new products or services to market. **Risks**: 1. **Financial Risk**: Entrepreneurs often invest their own capital and may take on debt, risking loss of personal assets. 2. **Market Risk**: New products or services may not meet market demand, leading to business failure. 3. **Operational Risk**: Challenges in managing day-to-day operations can hinder growth and sustainability. 4. **Competitive Risk**: Entering a competitive market can result in inadequate market share and lower profits. ### Intrapreneurship **Definition**: Intrapreneurship refers to the practice of employees within an organization acting like entrepreneurs to innovate and drive new projects or products. Intrapreneurs work within the corporate structure, leveraging existing resources and support while taking on entrepreneurial responsibilities. **Risks**: 1. **Career Risk**: Intrapreneurs may face the possibility of job loss if their projects fail or if management does not support their initiatives. 2. **Reputational Risk**: A failed intrapreneurial project can affect the individual’s reputation within the organization. 3. **Resource Constraints**: Intrapreneurs often have to work within the limitations of corporate bureaucracy, which can stifle creativity and innovation. 4. **Conflict of Interest**: Balancing the interests of the company with innovative pursuits may lead to conflicts, affecting team dynamics and personal goals. ### Conclusion Both entrepreneurship and intrapreneurship involve taking risks to innovate and create, albeit in different contexts. Entrepreneurs undertake personal financial and operational risks to build new businesses, while intrapreneurs navigate organizational dynamics and career risks to drive innovation from within an established company.