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

**Entrepreneurship** refers to the process of starting and managing a new business venture with the aim of making a profit while taking on financial risks. Entrepreneurs identify a market need, create a product or service, and mobilize resources to launch and grow their business. The key risks associated with entrepreneurship include:

**Financial Risk**: Entrepreneurs often invest their own capital or seek funding, which can lead to significant financial loss if the business fails.
**Market Risk**: There’s no guarantee that there will be a demand for the business’s offerings, which can result in low sales or total failure.
**Operational Risk**: Entrepreneurs face challenges in managing day-to-day operations, including staffing, supply chain issues, and compliance with regulations.
**Competitive Risk**: New entrants may struggle against established competitors or new rivals that can quickly erode market share.

**Intrapreneurship**, on the other hand, involves employees working within an established organization who act like entrepreneurs to develop new products or initiatives. Intrapreneurs drive innovation while benefiting from the company’s resources and stability. The risks for intrapreneurs include:

**Job Security**: Intrapreneurs may risk their job security if their innovative projects fail or if the company decides to pivot away from new initiatives.
**Limited Freedom**: Unlike entrepreneurs, intrapreneurs often have to operate within corporate constraints, which can limit creativity and the scope of their projects.
**Dependency on Corporate Structure**: The success of intrapreneurial efforts can be hindered by bureaucratic processes or lack of support from management, making it challenging to implement ideas.
**Resource Risk**: Intrapreneurs may face challenges in getting access to necessary resources or funding from the organization, especially if it doesn’t align with current corporate priorities.

Both entrepreneurship and intrapreneurship involve risk and innovation but operate within different contexts and environments.